At the regular Karlstad City Council meeting on June 4, Marit Knutson with Hoffman, Philip, Knutson, PLLC, reviewed her audit of the city’s 2017 finances with the council. In summary, she described the city’s fund balance and finances as “healthy” and “stable.”
According to her report, the city ended 2017 with a fund balance of $786,086, up $2,578 from 2016.
The majority of the city’s revenue comes from various grants and contributions, with 21% made up of fees, charges, and fines; and 13% coming from property taxes.
Among the expenses, the city spent 27% on economic development, 17% on highways and streets, 11% on public safety, and 6% on culture/recreation.
For more, see this week’s North Star News!