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City audit draft shows $76,852 favorable variance; $325,621 unassigned fund balance reported
Summary
Acting city finance staff presented the draft audit to the council, which shows the fiscal year ended with a $76,852 favorable variance and $325,621 in unassigned fund balance; staff said some capital projects were deferred and delinquent tax letters are being mailed.
Acting Clerk/Treasurer Stacy Terry presented the draft fiscal‑year audit to the Newport City Council on Oct. 17, reporting a favorable budget variance of $76,852 and an unassigned (surplus) fund balance of $325,621 as calculated by the auditors.
Terry said the auditors noted the city may continue to spend certain facility‑maintenance appropriations (about $17,866) and that other capital work planned for the year — including gateway painting and some municipal building projects — was deferred, contributing to the favorable variance. She said the auditors will issue standard notes, including a disclosure (note 17) explaining how the variance was computed.
Terry also told the council that the city attorney would begin sending delinquent tax letters the next day; the letters cover both property taxes and water/sewer delinquencies. She said total outstanding balances subject to that action were roughly $80,000 for property taxes and about $80,000 for water and sewer accounts, and encouraged residents to contact the treasurer’s office to arrange payments.
Councilors asked clarifying questions about specific balances and accounting details; Terry said staff and auditors would provide further detail if council members requested it and that management would sign the audit letter once council reviewed the draft.
No formal vote was recorded at the meeting; the council indicated acceptance of the draft and staff planned to finalize audit signatures and publish the auditor’s report.
