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City audits released for Dallas Center

The City of Dallas Center’s receipts totaled $2,505,309 for the year, which ended June 30, 2013, according to a most recent audit report by Auditor of State Mary Mosiman. The receipts included $792,709 in property tax; $68,942 from tax increment financing; $947,875 from charges for service; $291,676 from operating grants, contributions, and restricted interest; $401,050 in capital grants, contributions, and restricted interest; and $3,057 from unrestricted interest on investments. Disbursements for the year totaled $2,347,202 and included $501,678 for capital projects; $408,878 for public works; and $258,324 for public safety. Also, disbursements for business type activities totaled $513,817. The 2013 Financial Highlights for the City of Dallas Center include:

The cash basis net position of the City’s governmental activities increased approximately $71,000 due to the receipt of donations from the Burnett Charitable Trust, increased property tax and tax increment financing receipts, and receipt of state grants upon completion of the Highway 44 Turn Lane Project. The cash basis net position of the City’s business type activities increased approximately $87,000 due to increased charges for service and a decrease in utility maintenance disbursements. Over the course of the year, the City amended its budget one time. The amendment was approved on May 28, 2013 to provide for additional disbursements in the public safety function for vehicles and equipment, the public works function for lights, snow hauling and various materials, the culture and recreation function for bike racks, the community and economic development function for crosswalk materials and lights, the capital projects function for equipment and additional engineering costs and the business type activities functions for additional supplies and engineering costs. The City’s receipts were $155,258 more than budgeted. This was primarily due to the City’s receiving more intergovernmental and miscellaneous receipts than anticipated. Total disbursements were $395,488 less than budgeted, due primarily to disbursements for the business type activities and the culture and recreation functions being less than anticipated.

At June 30, 2013, the City had $2,837,000 of long-term notes and other long-term debt outstanding compared to $3,152,000 last year.

The City’s outstanding general obligation debt of $1,672,000 is below its constitutional debt limit of approximately $5,076,000.

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