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Story Archives: Monroe's municipal debt climbs $22.3 million


Monroe's municipal debt climbs $22.3 million
by Scott Rogers - posted Thursday, December 23rd, 2010 @ 12:00 pmE-mail Story E-mail Story | Print Story Print Story 
The city of Monroe had $230.8 million in total net assets at the close of the 2009-2010 fiscal year, according to an audit of city finances.

The city of Monroe ended its 2009-2010 fiscal year in April. The audit was released by the Louisiana Legislative Auditor's Office on Wednesday, Dec. 15. Monroe's audit was conducted by Luffey, Huffman, Ragsdale and Soignier, a professional accounting corporation in Monroe.
Of the $230.8 million in total net assets, approximately $16.5 million was unrestricted and not invested in capital assets, according to the audit. The city's total net assets increased by $7.2 million over the previous year.

The largest amount of the city's assets, approximately $144.8 million, was investments in capital assets such as land, buildings, machinery and equipment. The city uses those capital assets to provide services to its citizens.
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