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Bowman and Miller, P. C. release audit report for City of Gladbrook

October 28, 2011
Northern-Sun Print
Bowman and Miller, P. C. today released an audit report on the City of Gladbrook. The City’s receipts totaled $1,495,685 for the year ended June 30, 2011, a 21 percent increase from 2010. The receipts included $288,024 in property tax, $19,402 in tax increment financing collections, $60,388 in local option sales tax, $507,528 from charges for services, $148,861 from operating grants, contributions, and restricted interest, $89,827 from capital grants, contributions and restricted interest, $4,514 in unrestricted investment earnings, $360,000 in note proceeds and $17,141 from other general receipts. Disbursements for the year totaled $1,207,371, a 4.8 percent increase from the prior year, and included, $304,930 for debt service, $183,818 for capital projects and $126,910 for public safety. Also disbursements for business type activities totaled $354,446. The significant increase in receipts is primarily due to an increase in property tax collections and the refinancing of the debt related to construction of the new daycare. A copy of the audit report is available for review in the City Clerk’s office, the Office of Auditor of State and on the Auditor of the State’s website at


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