CLEARLAKE, Calif. – The Clearlake City Council accepted its annual audit for fiscal year 2013-14 during its regular meeting on Thursday at City Hall.

The audit was performed by Terry Krieg, CPA, who is of the opinion that the city's financial statements are presented fairly and in accordance with accounting principles generally accepted in the United States of America.

“I had no particular problems in connecting the financial statements or working with staff,” Krieg said.

According to the audit report, there was a fund balance of $561,100 in the general fund at the end of the 2014 fiscal year, an increase of about 12-percent – or nearly $62,000 – over the previous fiscal year.

Krieg said this was mainly because of management restraints on operational spending.

Citywide, the audit cited a total net position increase of $936,943 over 2012-13 after conducting all operations and programs.

Krieg said the city's net position at year-end totaled $31.99 million, of which he said $1.9 million – the city's unrestricted net position – is mostly because of a long-term receivable from the redevelopment successor agency.

The audit showed an increase in revenues from governmental activities, grants and taxes compared to the previous year. Krieg said the increase is a result of higher revenues in sales taxes and capital grants.

In addition, Krieg said an increased fund balance of $8,168 in other non-major governmental funds is primarily the result of ordinary operations within the non-major funds.

The audit was accepted and filed by the council and is available for public review at Clearlake City Hall, 14050 Olympic Drive in Clearlake during normal office hours, 8 a.m. to 5 p.m. Monday through Thursday.

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