Gronewold, Bell, Kyhnn & Co. P.C. CPAs have released an audit report on the City of Lisbon, Iowa.
The auditors reported that the City’s receipts for its governmental funds totaled $9,237,848 for the year ended June 30, 2021. The receipts included $1,004,058 in property tax, $33,201 in other city taxes, $353,762 in local option sales tax, $146,477 in tax increment financing collections, $1,669,550 from intergovernmental sources, $31,799 from use of money and property, $17,166 from licenses and permits, $35,134 from charges for services, and $653,398 in miscellaneous revenues and $5,283,461 from the issuance of debt. The City’s receipts for its proprietary funds totaled $1,079,132 of which $1,060,093 was from charges for services, $1,381 from interest on investments and $17,658 in miscellaneous revenues.
Disbursements for its governmental funds totaled $3,314,898, and included $457,899 for public safety, $412,495 for public works, $332,109 for culture and recreation, $111,544 in community and economic development, $516,943 in general government, $272,661 for debt service and $1,178,109 for payment to refund debt. Disbursements of the City’s proprietary funds totaled $1,076,780, of which $840,860 was attributable to its business type activities, $158,002 for debt service, and $77,918 for capital projects.
This report contains recommendations to the City Council and other City officials. The City has responded that corrective action is being taken for each item.
A copy of the audit report is available for review in the office of the Auditor of State and the City Administrator’s office.