Audit report available on City of Newton

Gronewold, Bell, Kyhnn & Co. P.C. CPAs have released an audit report on the City of Newton.

The auditors reported that the City’s receipts for its governmental funds totaled $31,312,688 for the year ended June 30, 2024. The receipts included $9,193,009 in property tax, $509,007 in other city taxes, $2,146,984 in local option sales tax, $2,872,917 in tax increment financing collections, $6,852,309 from intergovernmental sources, $429,802 from use of money and property, $392,235 from licenses and permits, $2,164,136 from charges for services, $27,228 from special assessments, $5,087,922 from debt proceeds, $118,169 from sale of assets, and $1,518,970 in miscellaneous revenues. The City’s receipts for its proprietary funds totaled $11,402,087 of which $9,933,5615 was from charges for services.

Disbursements for its governmental funds totaled $31,907,990, and included $8,101,325 for public safety, $3,681,155 for public works, $2,930,606 for culture and recreation, $1,676,541 in community and economic development, $1,813,570 in general government, $9,016,151 for capital projects, and $4,688,642 for debt service. Disbursements of the City’s proprietary funds totaled $14,781,035, of which $8,842,469 was attributable to its business type activities, $433,671 was for debt service, and $5,504,895 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.