Southwest Iowa county gets audit report. Auditor of State David A. Vaudt today released an audit report on Montgomery County, Iowa.
The County had local tax revenue of $18,827,054 for the year ended June 30, 2012, which included $772,038 in tax credits from the state. The County forwarded $13,675,624 of the local tax revenue to the townships, school districts, cities and other taxing bodies in the County.
The County retained $5,151,430 of the local tax revenue to finance County operations, a 14.1% increase over the prior year. Other revenues included charges for service of $675,155, operating grants, contributions and restricted interest of $3,261,214, capital grants, contributions and restricted interest of $3,048,693, local option sales and services tax of $361,968, gain on disposition of capital assets of $38,489, unrestricted investment earnings of $11,562 and other general revenues of $91,662.
Expenses for County operations totaled $9,127,820, a 5.6% increase over the prior year. Expenses included $3,829,505 for roads and transportation, $1,828,313 for public safety and legal services and $1,169,423 for mental health.
The significant increase in revenues is primarily due to an increase in capital assets contributed to the County by the Iowa Department of Transportation and an increase in property tax. The significant increase in expenses is due primarily to an increase in law enforcement center costs, including interest on the general obligation law enforcement center bonds, and an increase in mental health costs.