St. Cloud Releases Annual Financial Audit Report

(KNSI) – St. Cloud is opening the books to show its financial health.

The annual audit explains how the city spent tax dollars last year. It focuses on debt, enterprise and general funds. The total revenues were $50,464,008.

In 2022, 59.6% of city funds came from property, sales, hotel motel and food/beverage taxes. The report shows 30.8% of revenue came from
state and federal sources. St. Cloud spent 41.0% of its funds on public safety. This includes the fire and police departments and health and building inspections. St. Cloud spent 18.9% of its funds on road and utility projects.

Last year St. Cloud finished turning the former Tech High School into the new city hall for $11 million, used $9.8 million on street reconstruction, spent $4.6 million to upgrade water and sewer services, and invested $1.3 million in city-wide police cameras.

The yearly audit shows St. Cloud’s unemployment rate was 3.6%, with a median salary of $56,640. St. Cloud is the 12th largest city in the state, with a population of 68,818.

The Government Finance Officers Association has awarded a Certificate of Achievement for Excellence in Financial Reporting to St. Cloud due to the preparation and presentation by the City of the ACFR for the past 41 consecutive years.

Check out the report by clicking here.

___