Every year, certified public accountants visit municipalities across the state. In these visits, these third-party auditors are provided information from the previous fiscal year, before sending back feedback and recommendations to city officials.
According to a recent audit report by Williams & Company, a group of certified public accountants based out of Le Mars, the City of Webster City came out of the 2021-2022 fiscal year with a solid slate of minimal adjustments, an increase of revenues, and a positive balance within the general fund.
The report stated that the financial reporting function be monitored, which would eliminate the need for auditor adjustments. Municipal officials concurred with the recommendations from the auditor, and will continue with necessary reviews.
Williams & Company also revealed that Webster City’s general fund revenues had totaled more than $3.5 million, which is a 3.48% increase from the 2020-2021 fiscal year.
The revenues included more than $2.3 million in local taxes, more than $221,000 in licenses and permits, and more than $477,000 in service charges.
Disbursements for the previous year totaled more than $4.3 million, which was a 4% decrease from 2020-2021. This included more than $2 million for public safety, more than $542,000 for public works and more than $1.2 million for culture and recreation.
Within the report, the City of Webster City ended 2021-2022 with a General Fund balance of more than $4.7 million.
View the article as it originally appeared in the Daily Freeman-Journal.
Last modified: February 8, 2023