Council notes: Audit shows city’s debt level significantly below normal, properties rezoned

Charles City City Hall

Charles City, Iowa – The Charles City Council met Monday night and approved an independent audit for the last fiscal year.

The report shows the city has a $16,406,000 cash balance with $11 million in governmental activities and $21,620,000 in business activities.

The city’s debt is significantly lower than the five percent cap at 1.8 percent or $4 million.

The audit cited a non compliance issue with the city’s foster grandparent program where there were higher in-direct costs than the direct expenses, which according to the report could be potential payback of $27, 749.75.  They report suggests to appeal the issues with the national program.

In other council action:

The city has rezoned the old Charles City Middle School at 500 N. Grand from R2 to R3 allowing a developer to construct multi-family dwellings.

The council held public hearings and read the first readings for two ordinances rezoning 101 and 111 S. Jackson Street and for vacating section of S. Jackson Street.