Hannibal City Finances Improving
The overall financial health of the City of Hannibal is improving, according to Steve Boggiano of the accounting firm of Wade and Stables.
Boggiano presented annual audit results at Tuesday night’s City Council meeting. The audit shows total assets of 52 million dollars and total liabilities of 10 million. Net assets increased by 3 million. The City’s general fund surplus amount is $438,601. Total revenues for the year came in at 10.4 million dollars, a shortfall of nearly $268,000.
However, this was more than offset by total expenditures coming in at 10 million dollars versus the budgeted amount of 10.4 million.