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City of Coralville News

Posted on: January 23, 2019

City of Coralville Audit Report Is Available

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Hogan - Hansen, A Professional Corporation, released an audit report on the City of Coralville, Iowa.

The City’s governmental fund revenue totaled $56.2 million for the year ended June 30, 2018, a 7% increase from the prior year. General Fund revenue totaled $18,965,594 and included $9,368,867 in property tax, $3,561,241 in other taxes, $4,477,556 from charges for service, $323,801 from federal and state sources, $809,004 from other licenses and permits and $425,125 from other sources. Operating revenue from business-type activities which include the hotel and conference center, sewer, water, solid waste, transit, parking enterprise and storm water funds totaled $26.8 million, a 3% increase from the prior year. 

The City's governmental fund expenditures totaled $84.5 million for the year ended June 30, 2018, a 13% decrease from the prior year. The expenditures included $40.7 million for capital projects, $16.1 million for debt service and $10.4 million for culture and recreation. Business-type activities operating and interest expenses totaled $25.3 million, a 1% decrease from the prior year. 

General Fund expenditures totaled $20,403,154 and included $6,296,775 for public safety, $137,764 for health and social services, $10,212,488 for culture and recreation, $722,767 for community and economic development and $3,033,360 for general government. 

 A copy of the audit report is available in the financial documents section at www.coralville.org/finance, for review in the City Clerk’s office at 1512 7th Street, at the office of the Auditor of State, and on the Auditor of State’s website at https://auditor.iowa.gov/audit-reports.