Auditor of State Mary Mosiman released an audit report on the city of Newton.
The city’s receipts totaled $28,414,888 for the year ended June 30, 2014, a 35.4 percent increase over the prior year. The receipts included $6,959,812 in property tax, $2,717,402 from tax increment financing, $6,926,547 from charges for service, $2,225,302 from operating grants, contributions and restricted interest, $512,818 from capital grants, contributions and restricted interest, $1,289,442 from local option sales tax, $260,964 from ticket surcharges, $290,967 from hotel/motel tax, $111,972 from franchise fees, $54,30 6 from unrestricted interest on investments, $6,912,920 from bond proceeds and $152,436 from other general receipts.
Disbursements for the year totaled $32,783,888, a 58.6 percent increase over the prior year, and included $6,429,196 for public safety, $4,006,361 for debt service and $2,728,791 for public works. Also, disbursements for business type activities totaled $5,419,379. The significant increase in receipts is due primarily to bond proceeds received in the current fiscal year. The increase in disbursements is due to the city redeeming bonds, expansion of a landfill cell and purchase of landfill equipment in the current fiscal year.
A copy of the audit report is available for review in the city clerk's office, in the office of auditor of state and on the auditor of state's website at http://auditor.iowa.gov/reports/1420-0469-B00F.pdf