The Carroll City Council will be reviewing a copy of the Fiscal Year 2016 audit at their Monday evening meeting. The auditors, Feldmann & Company, CPAs, P.C., have released the audit information prior to that meeting for review. For the year ending June 30, 2016, Carroll had total receipts of just shy of $17 million, which reflects an eight and a half percent increase over the year before. The greatest amounts came in from property taxes, charges for services, operating grants, contributions and restricted interest. Auditors identified a significant decrease in the growth of receipts due to reduced bond proceeds in FY 2016 that are used for capital improvements. On the other side of the balance sheet, the city disbursed just over $17.5 million, which is a 20 percent increase over FY 2015. The major outlays were in business activities, debt services and capital projects. Feldman & Company reported that the increase in disbursements was mainly due to the defeasance of old bonds and capital project expenditures. A full copy of the audit report is available at the City Clerk’s office and on a link to the Auditor of State’s webpage included below.
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