Home KSCJ News SIOUX CITY’S ANNUAL FINANCIAL REPORT PRESENTED TO COUNCIL

SIOUX CITY’S ANNUAL FINANCIAL REPORT PRESENTED TO COUNCIL

ON MONDAY, THE CITY COUNCIL OF SIOUX CITY RECEIVED THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR THAT ENDED JUNE 30TH.

ANDREW GREIS OF BERGAN KDV OF ST. CLOUD, MINNESOTA, THE CITY’S AUDIT FIRM, PRESENTED THE REPORT:


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CITYAUDIT1 OC…. 32 1/2% OF GENERAL FUND EXPENDITURES. :31

MAYOR BOB SCOTT ASKED WHY THAT WAS.

TERESA FITCH, THE CITY FINANCE DIRECTOR EXPLAINED:

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CITYAUDIT2 OC….A FUND BALANCE. :20

PUBLIC SAFETY ACCOUNTED FOR 71% OF THE CITY’S EXPENDITURES.

GREIS BROKE DOWN VARIOUS CITY ENTERPRISE FUNDS, INCLUDING THE SEWER FUND:

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CITYAUDIT3 OC…11.6 MILLION DOLLARS. :24

HE SAYS THE AIRPORT CONTINUES TO PRESENT FUNDING CHALLENGES FOR THE CITY:

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CITYAUDIT4 OC…… THESE FUND ACTIVITIES. :24

HE SAYS THE RESOURCES PROVIDED BY THE AIRPORT FUND ARE NOT SUFFICIENT TO COVER THE OPERATING EXPENSES.

GREIS SAYS THE SOLID WASTE FUND JUST ABOUT BROKE EVEN, WITH A $37-THOUSAND DOLLAR LOSS FOR THE YEAR.

THE CITY IS REQUIRED EACH YEAR TO COMPLETE AN ANNUAL COMPREHENSIVE FINANCIAL REPORT.

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