Auditor of State Mary Mosiman today released an audit report on the City of Perry, Iowa. The City’s receipts totaled $12,097,582 for the year ended June 30, 2016, a 22.68 percent increase over the prior year. The receipts included $2,517,915 in property tax, $522,774 from tax increment financing, $2,533,909 from charges for service, $1,348,065 from operating grants, contributions and restricted interest, $1,050,128 from capital grants, contributions and restricted interest, $102,206 from hotel/motel tax, $1,076,469 from local option sales tax, $99,504 from commercial/industrial tax replacement, $5,128 from unrestricted interest on investments, $2,629,650 from bond and loan proceeds, $203,064 from franchise fees and $8,770 from miscellaneous receipts.
The significant increase in receipts is primarily due to approximately $2,000,000 in increased bond and loan proceeds used to fund various projects and to refund the 2008 general obligation bonds.
Disbursements for the year ended June 30, 2016 totaled $10,740,833, a 7.14 percent increase over the prior year, and included $2,637,060 for public works, $2,236,609 for debt service and payments to refunding bond agent and $1,563,339 for public safety. Also, disbursements for business type activities totaled $835,781.
A copy of the audit report is available for review in the City Clerk’s Office, in the Office of Auditor of State and on the Auditor of State’s web site at https://auditor.iowa.gov/reports/1620-0237-B00F.