Mt. Vernon Register-News

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August 29, 2013

RLCD audit clean with 'no issues'

BENTON — The Rend Lake Conservancy District received its audit for the 2012-2013 fiscal year, with a report of “no issues.”

According to representatives of the auditing firm Sikich, there were no issues with the audit, with only a “couple of other recommendations ... just internal items” given to administration.

“Net position increases of $9,434,843 in this fiscal year and $1,758,027 in the prior fiscal year continue to improve the financial position of the District,” the management section of the audit states. “The prior year increase included grant revenue and contributions of $303,252. Without the grant revenue the

increase last year would have been $1,454,775. Cash, cash equivalents and investments increased by $5,651,223. Investment income decreased from $60,482 last year to $42,214. The decrease can be attributed to continued low interest rates and declining cash balances.

“In the enterprise funds operating revenues increased by $929,826 over the prior year,” the audit continues. “Operating expenses increased by $151,868 resulting in an increase in operating revenue of $777,958 compared to last year. Total non-operating revenue increased by $41,119 in large part because of the $46,000 grant received in this fiscal year. Contribution revenue was $7,124,794 this year and $303,252 last year. This year’s revenue came from the payment for a project by the ultimate customer. As a result the change in net position in the enterprise funds was $7,640,619 more than it was last year.”

The audit states the district received less than 4 percent of its total revenue during the fiscal year from property taxes, which were $456,730.

“On the most recent levy the district tax for a property with a fair market value of $100,000 amounted to only $24 a year,” the audit states. “The district levied a tax rate of .1226 (per $100) for taxes paid in 2005. The rate for taxes paid in 2013 was .07248, a reduction of 40 percent. The Board of Trustees success in reducing property taxes is even more impressive when compared to other taxing bodies.”

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