Neillsville City Council Hears 2014 Audit Report
Thursday, March 26th, 2015 -- 9:26 AM
-The Neillsville City Council heard the 2014 Audit Report on Tuesday.The report was given by a representative from CliftonLarsenAllen, LLP. The bottom line of the report is that Neillsville is in good shape.
In the general fund, the city has $6.9 million in total assets, $680,000 set aside for long term projects, $2.3 million in unassigned funds and $2.7 million in general fund expenditures.
For the water and sewer utilities, the city has $8.3 million in total assets, $1 million in operating cost for the sewer and $1.4 million in unrestricted funds. Both utilities are in the positive income range with a total of $126,000. Their rate of return was comparable to last year.
The final item the representative talked about were the Tiff districts. In Tiff 2, the city has $800,000 to be recovered by the time the levy time limit expires in 2022. The representative said the city will be close to achieving that, but they might be a little under. In Tiff 3, the city has $990,000 to recover by the time the levy time limit expires in 2026. The representative said the city would recover that with the help of some developer agreements.
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