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(KLZA)-- It was a good year financially for the City of Falls City.
Julie Bauman, CPA, presented the 2014-15 audit report for the City of Falls City during the Monday night Council meeting. The City received an unmodified opinion, which is the best opinion the city can receive. Bauman said her audit firm found no material weaknesses, no significant deficiencies and no compliance findings.
Bauman went over the main points of the audit, which shows the city total assets of $46,084,213 increased nearly $173,000. The total equity increased by nearly $664,000 in the last fiscal year.
In addition, the City cash and investments increased by $474,400. The total long-term debt for the City is $1,342,241, which is what is still owed on the wastewater treatment plant improvements.
The utility departments and the mechanic shop realized an increase in cash of $308,000 for the year and a total increase in assets of $631,615.
Following the presentation the Council voted to accept the audit report.
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Hiawatha, Ks 66434