Nolte, Cornman & Johnson, P.C. Certified Public Accountants recently released an audit report on the Newton Municipal Waterworks.
Nolte, Cornman & Johnson, P.C. reported that the Waterworks revenues totaled $2,978,542 for the year ended June 30, 2016, an 14.65 percent decrease from the prior year, primarily due to the decrease in federal grant revenues. Expenditures from the Waterworks totaled $2,763,408 for the year ended June 30, 2016, a 3.75 percent increase from the prior year, primarily due to increased operations expenses.
A copy of the audit report is available for review in the office of the Auditor of State and in the office of the Newton Municipal Waterworks manager, and on the Auditor of State's web site at http://auditor.iowa.gov/reports/reports.htm.