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Auditor of State releases report on City of Newton finances

Published: Tuesday, Dec. 10, 2013 10:54 a.m. CST

Monday, Auditor of State Mary Mosiman released a report on the City of Newton. 

The city’s receipts totaled $20,988,028 for the 2012-13 fiscal year, which ended June 30, a 29.3-percent decrease from the prior year after adjusting for the exclusion of the Skiff Medical Center’s receipts. The significant decrease is due primarily to the $9,408,837 of bond proceeds received in the 2011-12 fiscal year. 

The receipts included:

• $6,809,388 in property tax,

• $2,560,585 from tax increment financing,

• $6,933,574 from charges for service,

• $2,567,323 from operating grants, contributions and restricted interest,

• $457,822 from capital grants, contributions and restricted interest,

• $1,158,029 from local option sales tax,

• $283,489 from hotel/motel tax,

• $114,591 from franchise fees,

• $62,847 from unrestricted interest on investments, and

• $40,380 from other general receipts. 

Disbursements for the year totaled $20,665,660, a 1.6-percent increase from the prior year after adjusting for the exclusion of the Skiff Medical Center’s disbursements. They included:

• $6,353,118 for public safety,

• $2,707,209 for public works,

• $2,421,712 for community and economic development, and

• $3,760,471 for business type activities. 

A copy of the audit report is available for review in the Newton City Clerk’s Office, in the Office of Auditor of State and on the Auditor of State’s web site at http://auditor.iowa.gov/reports/1320-0469-B00F.pdf.

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