Title
Budget Snapshot: 2024 Financial and Single Audit
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive a briefing on the results of the 2024 financial and single audit.
Report
Issue:
Whether to receive a briefing on the results of the 2024 financial and single audit.
Staff Contact:
Kensey Wang, General Accounting Manager, Finance, 360.75.8435
Presenter(s):
Kensey Wang, General Accounting Manager
Background and Analysis:
The Office of the Washington State Auditor performs an audit of the City’s financials as presented in its Annual Comprehensive Financial Report (ACFR) during the financial audit as well as the City’s Schedule of Federal Expenditures (SEFA) during the single audit. The auditors have issued their report and the finance department will brief the Finance Committee on the results.
Climate Analysis:
This agenda item is expected to result in no impact to greenhouse gas emissions.
Equity Analysis:
This agenda item is not expected to further impact known disparities in our community.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances and fiscal governance.
Financial Impact:
There is no financial impact resulting from this briefing.
Options:
1. Receive a briefing on the results of the 2024 financial and single audit.
2. Do not receive a briefing on the results of the 2024 financial and single audit.
3. Take other action.
Attachments:
None