Mt. Vernon Register-News

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September 19, 2013

City receives 'Clean' audit

(Continued)

During the fiscal year audited, the Police Pension Fund investments experienced an increase in market value of $716,034 and during the year which ended April 30, 2012, the fund investments had an increase in market value of 18,043. The Firefighter Pension Fund investments for the year ending April 30, 2013, had an increase in market value of $957,592; during the fiscal year ending April 30, 2012, the fund investments had a decrease of 328,317.

Overall, the net revenue for the city was $4.6 million, with expenses of $2.6 million. Capital assets were at a total of $14.2 million.

The audit will be discussed by the council in more detail during a workshop session, prior to officially accepting the audit report.

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