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Newport council reviews 2023 audits and July 2024 financial statements; sales-tax receipts reported
Summary
Council reviewed the 2023 Legislative Audit and Sewer Department audit, received July 2024 fund statements, and heard reported August sales-tax receipts for the city, county and NEDC.
Mayor Ratliffe presented the 2023 Legislative Audit Report and noted the auditors’ finding that, in their opinion, the regulatory-basis financial statements for the general, street and other funds "present fairly" as of Dec. 31, 2023 in accordance with cited reporting provisions. A copy of the 2023 Sewer Department Audit Report was distributed to council members; the audit similarly stated the sewer financial statements "present fairly" for 2023 and 2022 on a modified cash basis.
An electronic copy of the July 2024 financial statements for multiple city funds was provided to each council member, and Mayor Ratliffe invited members to direct questions to City Clerk/Treasurer Hembrey. Mayor Ratliffe reported August sales-tax receipts: City sales tax $169,988; County sales tax $115,592; NEDC sales tax $84,999. No action was required by the council on the audits or the financial statements during the meeting.
