MUSCATINE, Iowa - The City of Muscatine has once again received an unmodified (“clean”) opinion according to the annual audit report for the fiscal year ending June 30, 2025. The audit was performed by Bohnsack and Frommelt LLP, certified public accountants, earlier this year.
Sarah Bohnsack of Bohnsack & Frommelt LLP, reviewed the audit report with the Audit Committee of the Muscatine City Council on December 16. Bohnsack reported that the City received an unmodified (“clean”) audit opinion and she noted that there were no findings again this year on the single audit (federal grant) component of the audit. She also noted that no deficiencies in internal control or material weaknesses were noted during the audit.
The City of Muscatine released the report following approval by the Muscatine City Council on Tuesday, Jan. 6, 2026.
The City’s revenues totaled $66,264,024 for the fiscal year, an increase of $926,962 from the prior year. Revenues included $18,804,236 in property taxes, $5,176,417 of other taxes, $20,735,884 of charges for services, $11,600,233 of operating grants and contributions, $7,111,331 of capital grants and contributions, and $2,835,923 of other revenues.
Expenses for City operations for the year totaled $57,514,073, an increase of $4,432,536 from the prior year. Expenses included $37,664,601 for governmental activities and $19,849,472 for business-type activities.
The Annual Comprehensive Financial Report (ACFR) will be submitted to the Government Finance Officers Association (GFOA) for consideration of the Certificate of Achievement in Excellence in Financial Report. The City of Muscatine has received the award for 31 consecutive years. The GFOA is a nonprofit professional organization serving approximately 17,500 government finance professionals with offices in Chicago, IL, and Washington, D.C.
A copy of the audit report is available for review at the City’s offices at 215 Sycamore Street, Muscatine, Iowa. The report is also available on the City of Muscatine’s website at City of Muscatine ACFR or the Auditor of State’s website at https://auditor.iowa.gov/audit-reports.