BOONE, Iowa—The Boone City Council will be receiving a presentation on the recently completed audit report for the city. Kevin Houston is scheduled to present information during Tuesday evenings council meeting. Some of the highlights will be a decrease in receipts of 7% or about $1-million from the previous fiscal year. Disbursements for governmental activities increased about 7% or about $817,000. The City’s governmental activities budget at the end of June last year had decreased by 3% or about $308,000.
During the last fiscal year, the city’s debt decreased by $1.7 million to just over $14-million total. Of that amount, just over $5.9 million is general obligation debt which is well below the legal debt limit of more than $30 million.
Some of the findings included the usual notice of segregation of duties, essentially involving more employees to be involved in the handling of finances and making timely budget amendments. There were four matters of possible conflict of interest for payments made, but all met criteria for the amounts and work done.
The audit presentation is part of the City Council meeting beginning at 6:00 p.m. Tuesday at the Boone City Hall.
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