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The original item was published from 3/15/2023 12:32:11 PM to 7/1/2023 12:00:03 AM.

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City of Newton - Administration

Posted on: March 15, 2023

[ARCHIVED] Financial Audit Report for the City of Newton, Iowa

A table full of financial reports with a focus on one with the words Audit Report printed on it.

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 $24,907,025 for the year ended June 30, 2022. The receipts included $8,204,771 in property tax, $476,964 in other city taxes, $2,061,113 in local option sales tax, $2,563,566 in tax increment financing collections, $5,385,830 from intergovernmental sources, $128,703 from use of money and property, $317,614 from licenses and permits, $2,320,622 from charges for services, $14,481 from special assessments, $2,154,565 from debt proceeds, $224,062 from sale of assets, and $1,054,734 in miscellaneous revenues. The City's receipts for its proprietary funds totaled $6,252,666 of which $5,861,043 was from charges for services. 

Disbursements for its governmental funds totaled $25,513,934, and included $8,105,964 for public safety, $4,310,447 for public works, $2,500,498 for culture and recreation, $1,499,908 in community and economic development, $1,390,931 in general government, $3,280,460 for capital projects, and $4,425,726 for debt service. Disbursements of the City's proprietary funds totaled $4,697,973, of which $3,138,914 was attributable to its business type activities, $482,868 was for debt service, and $1,076,191 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. 

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