by Frank Lee
operations@thenewsleaders.com
The St. Joseph City Council had hired BerganKDV to conduct an independent audit for the last year, and the results of the required annual audit were presented at its May 16 meeting.
The St. Cloud-based business audited financial statements of the “governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the city of St. Joseph as of and for the year ended Dec. 31, 2015.”
“We also issue a report on Minnesota legal compliance,” said Janel Bitzan of BerganKDV. “Each year, the State Auditor’s Office gives us a listing of Minnesota state statutes that we have to test compliance with, and we had no issues of noncompliance for the year.”
The city had budgeted revenues of $2.8 million and budgeted expenditures of $2.8 million but had actual revenues of $2.9 million and actual expenditures of $2.7 million for 2015, said Bitzan, a certified public accountant.
Also budgeted was $68,000 from other financing sources and a budgeted decrease in fund balance of $5,000, but the actual amounts were $15,000 and an increase of $260,000, respectively.
“Higher than where you had anticipated, your ending fund balance was about $2 million,” Bitzan told the council members.
For 2015, revenues were up above $182,000. Intergovernmental revenues made up the largest component of that with about an $89,000 increase, and a portion of that was related to additional local government aid and then there was some other small state aid.
“You also had additional $40,000 in permit revenues with some of the development that is happening within the city, and miscellaneous revenues were about $30,000 and that was related to a donation that was received during 2015,” Bitzan said.
“Much like other cities in the area, you had lower costs for snow and ice removal . . . Your percentages are very consistent from year to year and it again goes to show the consistent budgeting and spending practices the city has.”
Janel Bitzan of BerganKDV of St. Cloud presents an overview about the results of a required and an independent annual audit of the city of St. Joseph to the St. Joseph City Council at its May 16 meeting.
