Gronewold, Bell, Kyhnn & Co. P.C. CPAs have released an audit report on the City of Mount Vernon, Iowa.

The auditors reported that the City’s receipts for its governmental funds totaled $9,715,097 for the year ended June 30, 2025. The receipts included $2,090,440 in property tax, $446,590 in other city taxes, $791,600 in local option sales tax, $1,232,247 in tax increment financing collections, $1,344,455 from intergovernmental sources, $392,938 from use of money and property, $15,048 from licenses and permits, $593,605 from charges for services, $232,164 in miscellaneous receipts, $2,554,910 from note proceeds and premium on notes and $21,100 from the sale of capital assets. The City’s receipts for its proprietary funds totaled $3,085,344 of which $2,953,148 was from charges for services, $2,700 from intergovernmental sources, $105,637 from use of money and property and $23,859 in miscellaneous receipts.

Disbursements for its governmental funds totaled $12,887,726, and included $1,639,270 for public safety, $565,082 for public works, $971,458 for culture and recreation, $777,849 in community and economic development, $724,158 in general government, $1,804,393 for debt service and $6,405,516 for capital projects. Disbursements of the City’s proprietary funds totaled $3,062,443, of which $2,830,335 was attributable to its business type activities, $108,620 for debt service and $123,488 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.