Gronewold, Bell, Kyhnn & Co. P .C. CP As have released an audit report on the City of Newton, Iowa.
The auditors reported that the City's receipts for its governmental funds totaled $35,456,695 for the year ended June 30, 2021. The receipts included $8,120,618 in property tax, $406,735 in other city taxes, $1,968,041 in local option sales tax, $2,318,075 in tax increment financing collections, $5,154,685 from intergovernmental sources, $129,814 from use of money and property, $283,923 from licenses and permits, $2,272,484 from charges for services, $6,952 from special assessments, $12,838,647 from debt proceeds, $786,170 from sale of assets, and $1,170,551 in miscellaneous revenues. The City's receipts for its proprietary funds totaled $11,234,214 of which $5,793,411 was from charges for services, and $5,045,765 was from debt proceeds.
Disbursements for its governmental funds totaled $33,746,799, and included $7,717,580 for public safety, $3,385,159 for public works, $2,224,471 for culture and recreation, $1,077,702 in community and economic development, $1,405,710 in general government, $6,720,472 for capital projects, and $11,215,705 for debt service. Disbursements of the City's proprietary funds totaled $3,650,022, of which $2,754,098 was attributable to its business type activities, $432,911 was for debt service, and $463,013 was for capital projects.
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.