North Tidewater News

The city of Newport News recently released its Annualized Financial Report, providing an in-depth analysis of its financial activities in 2023. The report, which has gained popularity among residents, offers a comprehensive overview of the city's financial standing, including expenditures, revenues, and key statistics on services provided.

One of the key findings of the report is the increase in the city's General Fund spending. In 2023, the city allocated a total of $571.9 million from the General Fund, marking an 8% increase from the previous year. The largest portion of this expenditure was directed towards education and public safety, highlighting the city's commitment to these essential services.

To complement the expenditure data, the report also delves into the city's revenue streams. In 2023, the General Fund revenue reached $601.1 million, reflecting an 8% increase compared to 2022. Property taxes emerged as the primary source of revenue, constituting 58% of the total revenues.

Beyond the financial figures, the report includes insightful statistics on the services provided by the city throughout the year. These statistics shed light on the extensive work undertaken by various departments to meet the needs of residents. Some notable highlights from the report include:

- "232,539 police calls for service"

- "36,555 fire calls for service"

- "34 million gallons of water delivered per day by Newport News Waterworks"

- "508 street miles maintained by Public Works"

- "514,240 library materials checked out"

- "51,412 tons of garbage collected"

These figures demonstrate the significant demand for essential services and the remarkable efforts made by city departments to address them effectively.

To ensure transparency and accessibility, both the Annualized Financial Report and the audited Annual Comprehensive Financial Report are readily available on the city's official website. This allows residents and interested parties to delve deeper into the financial details and gain a comprehensive understanding of the city's fiscal activities.

The release of the Annualized Financial Report showcases the city's commitment to transparency and accountability. By providing a detailed analysis of its financial activities, the city aims to foster trust and engagement among its residents. As Newport News continues to grow and develop, these reports serve as a vital tool for citizens to stay informed and actively participate in the decision-making processes that shape their community's future.

For additional details, please follow this link: https://www.nnva.gov/CivicAlerts.aspx?AID=2268