I have a new house with a compost bin in the back yard.?

Yes newspaper is good (although we are supposed to be sending it to recycling here in UK). They don't like shredded paper in the recycling bin as it blows about but the compost bin likes it so that is where our shredded stuff goes (old bank statements, receipts etc.). we have flies in our bins but also lovely lovely worms. The bottom of our bins are open to the ground and they have become an absolute wormery.