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Tama credited for good finances in audit

February 26, 2013
By John Speer - Editor , Toledo Chronicle, Tama News-Herald

"Overall it's a good financial position," Chris Nelson, a member of the team which performed the City of Tama's annual audit told the city council Monday night. The report showed the city with an ending cash balance of $3,073,454 for fiscal 2012.

Nelson gave high marks to City Clerk Judy Welch and assistant Nancy Carlson who he described as "prepared and very organized" noting in some other cities "this is not always the case.

The audit report showed Tama expenditures totaled $2,503,689 in fiscal year 2012 up from $2,011,882 in 2011.

Revenuewas $1,974,439, down from $2,279,660 the year before. The report noted this was primarily "due to no large funding from state or federal grants."

A jump to more than double to a total of $475,411 was noted in capital project spending over the year before. Of this amount $335,000 was to pay for resurfacing of East 13th Street for which the city used a $360,000 payment from the Iowa Department of Transportation which was received in 2011. That money was for Tam assuming responsibility for Business Route 30.

Resurfacing roadways in Oak Hill Cemetery at a cost of $25,000 per project year boosted the Culture and Recreation expenditures to $285,554 compared to $233,054 in 2011. The council also spent $16,000 to supplement the Tama 150th Anniversary Celebration, the reported said.

For receipts, property taxes received totaled $851,460 in 2012 compared to $810,706 in 2011.

Nelson, the auditor, also noted the Tama sewer revenues were on the plus side with graduated rate increases annually making up for what was a negative collection.

The audit also noted Tama was placed in a high risk pool for workmen's compensation insurance. That cost the city $68,283 in added premiums due to claims. The report said the city had adopted a safety program and safety training for employees to help address the concern.

 
 

 

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