•January 27, 2016•

By Ariana Cherry
For the News Progress

Jim Russell of West and Company presented the Sullivan City Council with its annual audit at Monday night’s meeting. He stated that the city’s growth last year as a whole was marginal.

From an asset/liability standpoint, it had a marginal $1.8 million dollar increase, and its net profit had a small decrease of $300,000. The city’s expenses saw a $1.6 million dollar increase (which equaled out to about 10%). Sullivan had about $17.6 million dollars in total revenue which came from city revenue and government funds.

Thirteen million of that were earned from utility sales. Business activities in Sullivan saw a 13% increase, yet revenues showed no growth but stayed consistent. Russell said the city had a break-even year, and its financial state is stable.      Login or Subscribe to read the rest of this story.