An audit of the town of Kimberly reveals that it has seen an increase in both revenues and expenditures in its last fiscal year, and the income outpaces the expenses.

The total net assets for the town’s fiscal year, which ran from Oct. 1, 2009 to September 29, 2010, was $1,167,296. The town’s total revenue was $1,033,074, an approximately $124,000 increase from the previous fiscal year’s revenue of $914,498.

Kimberly Mayor Craig Harris said the increased revenue is largely due to an increased sales tax, ad valorem taxes and revenue from fees attached to things like business licenses.

Perhaps the biggest change to Kimberly’s business landscape over the fiscal year was the closing of the IGA grocery store, which was intended to attract other businesses into a shopping plaza it occupied. Other stores were expected to move in by October 2010.

Another revenue boost for the city was the purchase of several housing lots in the Doss Ferry subdivision by D.R. Horton, the largest homebuilder in the United States. The property was bought from Capstone Partners, Inc. Capstone has an office in Kimberly.

Despite some significant cutbacks, including about nine months of 32-hour work weeks for city employees and contracting jailing services with the city of Warrior, expenses for the town rose as well, from $797,027 in 2008-2009 to $934,288 in 2009-2010. The largest expenditures were for salaries ($290,216) and insurance ($145,108).

2010 census results show over 2,000 residents in the town, which qualifies Kimberly to become a city.