Thursday, January 21, 2021
DMU Audit Summary
News release from Denison Municipal Utilities:
Mahoney & Gotto Company, Certified Public Accountants, today released an audit report on the Denison Municipal Utilities, Denison, Iowa for the fiscal year ended June 30, 2020.
The financial statements include a Statement of Net Position and a Statement of Revenues, Expenses and Changes in Net Position, which provide information about the activities of the Utility as a whole and present a longer-term view of the Utility's finances. Also included is Management's Discussion and Analysis of the Utility's financial statements.
The Utility's combined net position increased by 1,957,460 for the fiscal year ended June 30, 2020. The electric division's change in net position increased $1,366,513. The water division's change in net position increased $44,108. The change in net position decreased $41,459 for the sewer division. The join treatment division's change in net position increased $588,298.
Combined operating revenues totaled $16,672,567, an increase of .4%. Electric revenues totaled $10,621,906, a .7% increase. Water revenues totaled 2,498,652, a 2.3% increase. Sewer revenues totaled 1,498,967, a 7.9% increase. Joint treatment revenues totaled $2,053,042, a 7.8% decrease.
Combined operating expenditures including depreciation totaled $15,375,805, a decrease of 1.1%. The electric division's operating expenditures totaled $9,840,681, a decrease of 4.7%. The water division's operating expenditures totaled $2,515,640, a 4.3% increase. The joint treatment division's operating expenditures totaled 1,496,603, a 2.1% increase.
A copy of the audit report is available for review in the office of the Denison Munipal Utilities, the City Clerk's office, and also at the Norelius Community Library. Copies have been furnished to the State Auditor's office and are also available on the Auditor of State's website at http://auditor.iowa.gov/audit-reports.
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