We know government finances can feel complex or hard to follow, but we also believe that you deserve to know where your money goes, how decisions are made, and what challenges lie ahead.

That’s why we’re sharing key highlights from the city of Independence’s Annual Financial Audit Summary—broken down into plain language and real-world impacts. We hope that everyone in Independence has a clearer picture of where we stand and where we’re going.

1. Clean Audit = Financial Transparency

Independent auditors gave the city a “clean” opinion—meaning our financial reporting is accurate, complete, and transparent.

2. City Debt Down

City debt decreased by $2.2M, bringing us to $35.3M total. We’re staying well under our state debt limit.

3. Where Your Taxes Go

Total property tax revenue was $3.83 million, but not all of that goes to support the general fund. Here’s how it’s divided:

  • $2.6M to the general fund
  • (police, parks, etc.)
  • $1M to Urban Renewal projects
  • $230K to debt payments (bonds)

4. General Fund Took a Hit

The General Fund balance dropped by $734K as operational costs rose faster than revenues. This reflects the need for long-term funding solutions.

5. Utilities: Stronger Than Ever

Utility operations (water, sewer, storm) added $3.1M to the city’s net position thanks to stable revenue and smart investments.

6. Transportation Fund: A Bright Spot

We added $73K to the Transportation Fund. Roads matter, and so does long-term stability!

7. Capital Assets Climb

City assets (like roads, pipes, and buildings) increased in value by $1.8M, now totaling $47.4M.

8. Grants Fund Grew

The Grants Fund increased by $429K, meaning more support for local projects and programs.

To read the complete audit, visit: https://www.ci.independence.or.us/finance/