City of Missouri Valley Audit Report – thru June 30, 2025
Schroer & Associates, P.C. today released an audit report on the city of Missouri Valley, Ia.
FINANCIAL HIGHLIGHTS
The City’s receipts totaled $7,477,341 for the year, ending June 30, 2025, an 18.9 % increase from the prior year. Disbursements for the ended, June 30,2025, totaled $7,152,835, a 10.4 % increase from the prior year. The increase in receipts is due to bond proceeds received in the current year. The increase in disbursements was due to construction costs for a new fire station in the current year.
AUDIT FINDINGS
Schroer & Associates, P.C., reported three finding related to the receipt and disbursement of taxpayer funds. They are found on pages 38 to 41 of this report. The findings address issues such as disbursements exceeding budgeted amounts and council minutes compliance. Schroer & Associates, P.C., provided the City with recommendations to address each of the findings.
All three findings discussed above are repeated from the prior year. The City Council has a fiduciary responsibility to provide oversight to the City’s operation and financial transactions. Oversight is typically defined as the “watchful and responsible care”, a governing body exercises in the fiduciary capacity.
A copy of the audit report is available for the review on the Auditor of State’s website at http://www.auditor.iowa.gov/audit-reports.;
