MP Utilities Audit Report ReleasedWritten by Theresa Rose on September 22, 2020
TDT CPAs and Advisors, P.C. released an audit report on the Mount Pleasant Municipal Utilities. The Utilities had total revenues of $11,194,246 for the year ended June 30, 2020, a 0.2% increase from the prior year. The revenues included $11,092,747 of charges for services and $101,499 of non-operating revenues.
Expenses totaled $10,100,402 for the year ended June 30, 2020, a 3.5% increase for the prior year and included $6,209,477 for the power, pumping and treatment plant, $2,110,987 for transmission and distribution, $1,778,211 for general and administration and $1,727 for interest expense. the increase in expenses is primarily due to an increase in purchased and produced power for the year ended June 30,2020 compared to the year ended June 30, 2019.
This report contains recommendations to the Commission.
A copy of the audit report is available for review in the Mount Pleasant City Clerk’s office, the Mount Pleasant Utilities office, the office of the Auditor of State and on the Auditor of State’s website at auditor.iowa.gov/reports