Audit: City ends year with cash balance of $1.75 million

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Tax revenue amounted to $800,328

By Linda Ireland

The City of Hodgenville had an ending cash balance of $1.75 million for fiscal year July 1, 2007, to June 30, 2008, according to a financial audit prepared by Clauson, Mouser and Co., PSC.

The city ended the fiscal year with $182,000 less in the cash balance from a year earlier. End of year capital assets totaled $14.7 million.

The city’s combined assets increased $1.58 million, up 14.5 percent from the previous year. Mouser said the increase was primarily due to Lincoln Bicentennial projects and infrastructure improvements.

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