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The original item was published from 2/23/2012 10:15:39 AM to 3/24/2012 12:10:00 AM.

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Press Release

Posted on: February 23, 2012

[ARCHIVED] Storm Lake Issues FY 2011 Audit Report

For Immediate Release:
For more information contact: Justin Yarosevich

Storm Lake, Iowa - The City of Storm Lake and their independent auditing firm of Winther, Stave & Co., LLP has released an audit report on the City of Storm Lake, Iowa as of June 30, 2011.

The City’s revenues totaled $19,533,478 for the year ended June 30, 2011, a 16.2 percent increase from the prior year. Revenues consisted of $3,228,638 in property tax, $510,733 for tax increment financing revenues, $1,496,467 for other taxes, $11,151,957 from charges for services, $2,577,184 from operating and capital grants, contributions, and restricted interest, $68,723 from unrestricted investment earnings, and $499,776 from other general revenues.

Expenses for City operations totaled $18,954,720, a 7.6% increase from the previous year. Expenses included $2,369,419 for public safety, $2,101,998 for culture and recreation, $1,824,359 for public works, and $1,064,946 for interest on long-term debt.

Expenses for business type activities totaled $10,256,562.

A copy of the audit report is available for review in the City Clerk’s Office, in the office of Auditor of State, and on the Auditor of State’s web page at

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