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Gronewold, Bell, Kyhnn & Co. P.C. CPAs have released an audit report on the City of Newton, Iowa.
The auditors reported that the City's receipts for its governmental funds totaled $19,886,897 for the year ended June 30, 2017. The receipts included $7,370,516 in property tax, $522,573 in other city taxes, $1,619,926 in local option sales tax, $2,032,186 in tax increment financing collections, $4,208,532 from intergovernmental sources, $131,458 from use of money and property, $388,274 from licenses and permits, $1,923,732 from charges for services, $39,173 from special assessments, $313,829 from sale of assets, and $1,336,748 in miscellaneous revenues. The City's receipts for its proprietary funds totaled $4,921,876 of which $4,636,265 was from charges for services.
Disbursements for its governmental funds totaled $23,636,537, and included $6,755,455 for public safety, $3,304,874 for public works, $2,063,856 for culture and recreation, $1,732,006 in community and economic development, $1,252,386 in general government, $5,241,281 for capital projects, and $3,286,679 for debt service. Disbursements of the City's proprietary funds totaled $4,352,732, which was attributable to its business type activities.
This report contains recommendations to the City Council and other City officials. The City has responded that corrective action is being taken for each item.
A copy of the audit report is available for review in the office of the Auditor of State and the City Administrator's office.