The audited financial statements to the City of Mount Vernon for the year ended June 30, 2021, were recently released. These financial statements were audited by CliftonLarsonAllen LLP, Certified Public Accountants, and filed with the Iowa State Auditor’s Office.
The City’s governmental receipts totaled $6,099,758 for the year ended June 30, 2021, a 35.7% decrease from 2020 The receipts included $1,924,060 in property tax, $655,288 from tax increment financing collections, $1,671,935 from operating grants, contributions and restricted interest, $81,624 from capital grants, contributions and restricted interest, $731,349 from local option sales tax, $184,559 of proceeds from bond issuance and $576,179 from other general receipts.
Governmental disbursements for the year totaled $6,390,584, a 54.0% decrease from the prior year, and included $2,008,476 for capital projects, $1,249,888 for public safety, $1,351,099 for debt service and $619,192 for public works.
A copy of the audit report is available for review in the City Clerk’s Office, in the Office of Auditor off State and on the Auditor of State’s website at http://auditor.iowa.gov/reports/reports.htm.