City audit shows higher revenue for fiscal year 2021
According to a new report, Jefferson City saw higher revenue and lower debt in the past fiscal year compared to fiscal 2020.
The city released its annual financial report this week, covering its financial statements for fiscal year 2021, which ran from Nov. 1, 2020, to Oct. 31, 2021. Evers and Company, the independent auditors who handled the report, gave to the city a proper audit.
According to the report, the city’s total revenue increased by approximately $7.6 million, from $50.1 million in the prior fiscal year to $57.7 million in the fiscal year. 2021.
Revenue from sales and other city use taxes was $26.6 million, the majority of revenue for the year. It increased by more than $1 million from the $25.3 million reported in fiscal 2020.
Property tax revenues also increased for the year to $5.8 million, more than $20,000 more than the previous year.
The utility/franchise tax saw a slight increase from $6.21 million in fiscal year 2020 to $6.7 million last year, while intergovernmental revenue became the second highest source of revenue at $6.7 million, up from $6.21 the previous year.
The city’s overall spending fell for the year, from $55.9 million in fiscal year 2020 to $53.5 million last year. Public safety was the largest expense at $18.6 million, about $200,000 more than the previous year. Capital expenditures ranked second at $11 million for the year.
The city’s outstanding debt at the end of its fiscal year was $51.8 million, about $5 million less than the previous year. Most of the debt stemmed from sewage system revenue bonds, which amounted to $42.1 million. More than $4.3 million in bond principal payments were canceled during the year.
Beyond the financial data, the annual report details the city’s operating statistics for the year. The City of Jefferson Police Department received 46,140 calls for service, compared to 46,478 reported in fiscal year 2020. The number of reported crimes also fell for the year, from 3,412 the previous year to 3,233 in fiscal year 2021.
The Jefferson City Fire Department, meanwhile, responded to 5,663 calls, according to the report, up from 5,056 the previous year.
The city issued 1,506 building permits with a combined assessment exceeding $88 million. Of those permits, 1,078 were residential and 416 were commercial, both down from the previous year by 3,023 and 522, respectively.