At the January 20th Council Meeting, the City Council approved the audit for the fiscal year ending June 30, 2014. The audit which was performed by Hochschild, Bloom & Company LLC. showed that the City of Black Jack was again in excellent financial shape. Some Audit Highlights:
Total Revenue for the Fiscal Year was $2,910,119
Total Expenditures for the Fiscal Year was 2,302,159
The Cities fund balance as of July 1st was $4,380,478
General Fund revenues were $72,432 above the budge
General Fund expenditures were $111,684 or 5% below budgeted expenditures.
The City of Black Jack has not imposed a Real or Personal Property Tax on residents or businesses that is used to fund General Revenues. The City property tax rate for street bonds 2014 was $0,49 per $100 of assessed valuation. The City of Black Jack has a low voter approved 3% Utility Tax on electric, gas and water service.
A new section on the audit this year is a summary of the fines and court costs that are collected in municipal court for traffic violations. The amount collected this year was 5.79% which is well below the 30% allowed.
Mayor Norman McCourt said “I am pleased to report to the residents I serve, that the audit shows in a positive way that due to our continuing efforts, we are in excellent financial shape”.
A copy of the full audit is posted on the City of Black Jack web site at www.cityofblackjack.com.