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Jefferson City receives clean audit for 2017 Fiscal Year

Jefferson City receives clean audit for 2017 Fiscal Year

April 24th, 2018 by Nicole Roberts in Local News

This May 2012 file photo shows the John G. Christy Municipal Building, commonly known as City Hall, at 320 E. McCarty St. in Jefferson City.

Photo by News Tribune /News Tribune.

Jefferson City released its annual financial report Monday for Fiscal Year 2017.

The city's annual financial report for FY 2017 — which ended Oct. 31, 2017 — is now available on the city's website. Those interested can read the 144-page comprehensive report or the shortened 15-page "Popular Annual Financial Report." Both show the city's audited financial numbers over the last three years.

Jefferson City Finance Director Margie Mueller said independent auditor Evers and Company gave the city a clean audit, with no findings showing the city needs to change procedures.

Total revenue has increased steadily since 2015 — approximately $46.9 million versus $49.2 million in 2017.

The bulk of the city's revenue came from sales tax and other user taxes, which brought in more than $23.6 million in 2017 compared to $22.6 million in 2015. Revenue from property taxes has slightly increased over the last three years, with approximately $5.4 million in 2017 compared to about $5.3 million in 2015.

Jefferson City has the second-lowest sales tax rate among Missouri cities at 7.725 percent, with Linn the lowest at 7.475 percent and Holts Summit the highest at 8.725 percent.

Revenue from utility/franchise taxes, the city's second-largest revenue generator, has been decreasing since 2015, though. The city collected $7 million from these taxes in 2017, while in 2015 and 2016 it generated $7.2-$7.3 million.

The city also saw an increase in wastewater revenue — $11.2 million versus nearly $10.9 million in 2016 and $10.2 million in 2015. This is due to an increase in sewer charges for services to offset future bond requirements, according to the report.

Jefferson City experienced a spike in expenditures in 2017 compared to 2016 — $54.1 million compared to nearly $47.9 million in 2016. In 2015, the city's expenditures totaled approximately $41.3 million.

The largest increase was in capital outlay, which grew from $7 million in 2015 to $12.5 million in 2016 and to $16.9 million in 2017. The report states this increase is due to the city purchasing a fire apparatus and "an increase in significant capital projects" like the East Capitol Avenue and Stadium Boulevard/Jefferson Street projects.

Public safety remains the highest expenditure, with Jefferson City spending more than $17.2 million in 2017 compared to approximately $16 million in 2015 and 2016.

The report also lists statistics about the city as a whole, such as crimes reported to the Jefferson City Police Department (4,127 in 2017 versus 4,130 in 2016), Jefferson City Fire Department fire calls answered (4,626 in 2017 versus 5,060 in 2016), and business licenses issued or renewed (3,013 in 2017 versus 2,899 in 2016).

The city's unemployment rate in FY 2017 decreased from 3.2 percent in 2016 to 1.9 percent in 2017. The median household income was $56,129.

The Government Finance Officers Association of the United States and Canada also gave Jefferson City three awards — an Outstanding Achievement in Popular Annual Financial Reporting award, a Certification of Achievement for Excellence in Financial Reporting award and a Distinguished Budget Presentation Award.

Those interested can read the "Comprehensive Annual Financial Report" at jeffersoncitymo.gov/government/cafr.php or the "Popular Annual Financial Report" at jeffersoncitymo.gov/government/pafr.php.