The Washington City Council Monday was presented with a clean independent audit for the last fiscal year.
The financial report for the 2017-18 fiscal year was conducted by Hochschild, Bloom & Co. LLP. It was presented to the council Monday, April 6, by Jeff Trentmann, with the company.
The city’s fiscal year begins Oct. 1 and ends Sept. 30.
“From what I saw it was a very positive year for the city of Washington,” Trentmann said, “as it has been for many, many years.”
Included in the report was an introductory section, independent auditor’s report, management’s discussion and analysis, and basic financial statements, fund statements, governmental funds, statement of net position-proprietary funds, statement of revenues, expenses, and change in net position-proprietary funds, statement of cash flows proprietary funds, notes to financial statements, LAGERS footnote, and required supplemental information.
“The city of Washington is sitting very well going into next year,” Trentmann told council members.
In the last fiscal year, the city collected $4,705,973 in sales tax for the general fund; a capital improvement sales tax totaling $2,352,965; and a transportation sales tax totaling $2,352,965.
That is compared to the previous year when the city collected $4,333,183 in sales tax for the general fund; a capital improvement sales tax totaling $2,166,593; and a transportation sales tax totaling $2,116,550.
Trentmann added that overall, the city had a $4.8 million “net increase.”
“That is fantastic,” he added. “It looks very well for the future.”