According to auditors, Logan City sees $20 million increase in revenues

Logan is in an enviable position financially according to the comprehensive annual report presented by the city’s outside auditors Tuesday. CPA Jeffrey Miles of the Hansen, Bradshaw, Malmrose and Erickson accounting firm out of Bountiful told the Logan Municipal Council that 2010 was a good year. He said the city’s total assets grew from $246 million to $265 million.”Most of those assets are capital assets, the majority of them,” Miles told the council. “So an asset increase of about $19 million whereas the city’s liabilities actually declined by about a million or a million and a half. “So as a result, the net assets, or the equity the city has in its assets, grew from $180 million to a little over $200 million, about a $20 million increase in the city’s equity. I think I would say overall that’s evidence that the city’s financial position continues to strengthen.”A copy of the entire financial report can be viewed on

<a href=””>Logan City’s website</a>

or it is accessible in the Logan Library.

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