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 $27,573,072 for the year ended June 30, 2019. The receipts included $7,305,140 in property tax, $528,047 in other city taxes, $1,447,144 in local option sales tax, $2,020,002 in tax increment financing collections, $3,955,163 from intergovernmental sources, $215,295 from use of money and property, $330,087 from licenses and permits, $2,000,045 from charges for services, $13,323 from special assessments, $8,044,392 from debt proceeds, $463,124 from sale of assets, and $1,251,310 in miscellaneous revenues. The City’s receipts for its proprietary funds totaled $5,620,857 of which $5,255,013 was from charges for services.
Disbursements for its governmental funds totaled $24,636,342, and included $6,968,458 for public safety, $3,133,770 for public works, $2,476,301 for culture and recreation, $1,248,855 in community and economic development, $1,308,975 in general government, $5,815,461 for capital projects, and $3,684,522 for debt service. Disbursements of the City’s proprietary funds totaled $4,173,108, 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.