Alpena Council Hears Annual Financial Report for 2021 Wed, 05 Jan 2022 06:03:52 EST
On Tuesday (January 4th), Alpena City Council members heard the results of an audit report from their past fiscal year (2020-21).
In the report, auditors from Straley Lamp & Kraenzlein P.C., explained that in the General Fund, total Revenues totaled over 10 million ($10,011,767.00). Expenditures totaled over 9 point 2 million ($9,215,200.00). Total other financing was almost 362 thousand dollars ($361,603.00) resulting in a net change in fund balance of almost 435 thousand dollars ($434,964.00).
The fund balance at the end of the year was more than 3 point 9 million ($3,909,550.00), up from nearly 3 point 5 million ($3,474,586.00). That represented nearly around 137 days of operating funds on hand, which is higher than last year.
The city fiscal year ends June 30th and starts each July 1st.
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