On Wednesday the Auditor of State for Iowa, Mary Mosiman released the annual audit report for the city of Knoxville.

According to the report the City’s receipts totaled $11,359,347 for the year which is a 28.5% decrease from 2016. Disbursements for the year totaled $10,659,706 which resulted in a 41.2% decrease from 2016 as well. Knoxville City Manager Aaron Adams tells KNIA/KRLS News in the 2016 fiscal year the city had bond sales of $2.7 million with part of the $2.7 million coming from restructuring old debt for a big saving to residents. He says bonds were also sold for the upcoming trail project as well as street improvements to the city. Adams says next year residents will see an increase on the audit report as the city will issue more debt with upcoming projects. To view a copy of the audit report click here.