Officials with the City of Atlantic today (Wednesday), said Gronewold, Bell, Kyhnn & Company, CPA’s have released an audit report on the City. The auditors said the City’s receipts for its governmental funds total more than $11.8-million ($11,881,149) for the year that ended June 30, 2020. The receipts included:

• Over $3.7-million ($3,718,868) in property tax
• $111,895 in other city taxes
• $917,068 in local option sales tax (LOST)
• $182,411 in tax increment financing (TIF) collections
• $1,870,432 from intergovernmental sources
• $210,223 from use of money and property
• $98,837 from licenses and permits
• $430,002 from charges for services
• $55,835 from sale of assets
• $3,775,000 from debt proceeds
• and $510,578 in miscellaneous revenues.

The City’s receipts for its proprietary funds total over $1.87-million ($1,878,569), of which $1,809,937 was from charges for service. Disbursements for its governmental funds totaled more than $12.2-million ($12,293,176), and included:

• $2,179,566 for public safety
• $1,450,931 for public works
• $12,985 for health and social services
• $997,761 for culture and recreation
• $233,538 in community and economic development
• $594,493 in general government
• $1,497,296 for capital projects
• and $5,326,606 for debt service.

The auditors noted disbursements of the City’s proprietary funds totaled $1,686,323, of which $996,300 was attributable to its business-type activities, and $690,023 was for debt service. The report contains recommendations to the City Council and other City officials. The City has responded that corrective action is being taken for each item.

A copy of the Auditor’s report is available for review in the office of the Auditor of State and the Office of Atlantic City Administrator John Lund.