Audit shows surplus in St. Charles
ST. CHARLES – An audit of St. Charles’ last fiscal year shows the city continued its recent trend of posting a surplus in the general fund.
The audit by Sikich LLC. showed St. Charles ended fiscal 2013 with $39.5 million in revenues and $38 million in expenditures, resulting in a surplus of about $1.46 million in the general fund, according to a city news release.
The release noted that apart from a small deficit in fiscal 2011 at the height of the Great Recession, St. Charles has posted a surplus in the general fund since 2008.
According to the city, it accomplished this by cutting nearly 12 percent of expenses from fiscal 2008 to 2010 and by generating revenue. Examples include the 2 percent alcohol tax and adjusted fees for building permits, special events, towing, vehicle impounding and administrative charges related to arrest bookings.
Meanwhile, the city reported its property tax levy remained steady while program and service levels were maintained.
“The expenditure reductions we established in fiscal years 2009 and 2010 during the economic downturn continue to benefit St. Charles citizens,” Finance Director Chris Minick said in a written statement.
“[Fiscal year] 2013 expenditures remain $4.7 million lower than [fiscal year] 2008 levels, and the city’s tax levy has been held steady for five consecutive years.”
Contact Minick at 630-762-7002 for information.