The Washington State Auditor’s Office (SAO) completed the city’s 2010 audit with an exit conference on August 24, 2011. Washington law requires the State Auditor to audit all levels of local government on a regular basis. The city has received a clean audit opinion for 2010. The financial report concludes that the city continues to maintain a strong financial position.
The 2010 audit included a Federal Single Audit as the city received over $1 million of federal grant funds in 2010. SAO also gave a clean opinion on the Federal Single Audit.
The annual audit also included a review of the city’s 2010 Comprehensive Annual Financial Report (CAFR), which was submitted to the Government Financial Officers Association (GFOA) for review and consideration of the Certificate of Achievement for Excellence in Financial Reporting.
The CAFR provides detailed information beyond what is required by the State on the city’s finances and operations. The city has been awarded GFOA’s Certificate of Achievement for Excellence in Financial Reporting for its 2006, 2007, 2008 and 2009 CAFR’s. This award recognizes the city for its excellence in financial reporting and is the highest form of recognition in the area of governmental accounting and financial reporting.