City of Lander’s audit clean; net assets up; sales tax revenue increased
By Joshua Scheer, reporter, county10.com
(Lander, Wyo.) – The City of Lander, seeing a bump in net assets of about $600,000 this year, received a clean audit report earlier this month.
McKee, Marburger and Fagnant Accountant Dave Brinda told the Lander City Council on Nov. 13 that the city received an unqualified opinion. “That’s the best you can could get,” he said.
The city’s net assets totalled $38.7 million, according to the audit report. Of that, about $4.7 million (12 percent) is unrestricted and “may be used to meet the City’s ongoing obligations to citizens and creditors,” the report states.
Of the net assets, the city’s water and sewer system totals $21.5 million. General governmental activities account for $17.2 million in net assets.
Overall, the city’s revenues decreased $350,000 to total $8.7 million. The loss came primarily from a decrease in both operating and capital grants. Revenues for the water and sewer fund increased by about $200,000.
Sales and use tax came in at $1.7 million, an increase of almost $75,000. Property and vehicle taxes increased by about $25,000. All other taxes decreased slightly.
The water and sewer system made $2.7 million in service charges. That is up $155,000 from the year before.
Citywide, expenses increased slightly from $7.9 million in 2011 to $8 million in 2012.
Brinda said the city was given about $355,000 in federal funds, which was about half of what was received the year before.
He assured the council that city’s staff does a “great job,” and he and his crew found no compliance or reporting issues that needed to be officially noted.