Owen City Council Hears 2015 Audit
Wednesday, June 22nd, 2016 -- 9:18 AM
-The Owen City Council heard the 2015 Audit at their meeting last week.A representative of Palmer-Clifton-Gunderson was present to report on the City’s 2015 Annual Financial Audit. Discussed were the Governmental Funds which showed no carry over of funds. Also discussed was the Proprietary Funds showing expenditures and operating revenue for the Water Utility and Sewer Utility. Her recommendation was to consider rate increases for both utilities. TIF #3 and TIF #4 were both reported and TIF #4 continues to pay for its debt payments and TIF #3 has always struggled, because of very low assessment value. The City needs to bring in more business into the TIF #3 to increase the increment and assessment to pay the debt payments.
Also, the 4-way stop signs at Altenburg and Bjornstad were brought to the attention of the council by an alderman. The council approved to remove the two stop signs on Altenburg.
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