Vernal City received a clean bill of health during their Fiscal Year 2016 audit report given last month by Doug Rasmussen from Smuin, Rich and Marsing. Reporting to the Vernal City Council, Rasmussen stated that the assets of Vernal City exceed the liabilities by $51 million dollars. The unassigned balance in the general fund was $1.7 million dollars, or 22%, which is in compliance with state law. Due to economic downturn, Vernal City experienced a decrease in revenue of $581,367 dollars, while debt decreased by $905,000 dollars. The utility fund showed a positive change of $381,000 dollars. Mr. Rasmussen stated that Vernal City is being fiscally responsible and is adjusting to the economic downturn accordingly.
