The Hillsboro City Council heard good financial audit news at its meeting Monday night from certified public accountant (CPA) Bill Moilien of Johnson Block and Company, along with City Treasurer Lisa Johnson.

The report was for the year ended Dec. 31, 2014.

The property tax of 2014 that was collected in 2015 shows the following collection figures:

• TIF: $453,981

• Local School:  $452,812

• Village: $448,889

• County: $236,878

• VTAE: $71,124

• State: $10,422

The governmental funds and 2014 expenditures as reported:

• Debt service:  $850,221

• Public safety: $375,549

• Public works: $270,897

• Culture and recreation: $263,646

• General government: $223,794

• Conservation and development, sanitation: $210,642

• Capital outlay: $131,277

In the Changes and Long-Term Obligations Section of the audit, Johnson Block and Company’s observations and comments include:

General obligation debt limitation totals $3,070,600; debt subject to limitation totals $935,855. The city has 70% of its debt capacity remaining.

The water and sewer utilities have debt outstanding totaling $1,991,751.  Interest rates range from 1.155% to 4.2%.

Johnson also outlined her report on savings and investment highlights of the first quarter of 215 to the Council.
Copies of her report can be obtained at City Hall on Prairie Ave.

City employee honored

Mayor Greg Kubarski presented city employee Mike Lange with a longevity award.  In addition to a plaque, Lange received a $500 bonus and two days’ vacation.