TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Haritha Narra |
Deputy Finance Director |
|
Finance |
Nida Hermoso |
Accounting Manager |
TITLE:
title
2022 & 2023 Accountability Audit Exit Conference
OVERVIEW STATEMENT:
recommendation
Staff from the Office of the Washington State Auditor will share the results of the City’s 2022 and 2023 Accountability Audit and draft reporting.
body
☒ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☒ Receive Information ☐ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
In accordance with generally accepted accounting principles, cities over 2,500 in population must have an annual audit.
• Required:
N/A
• Council Request:
N/A
• Other Key Facts:
N/A
OUTCOMES:
The mission of the Office of the Washington State Auditor is to provide independent and transparent examinations of how state and local governments use public funds and develop strategies that make government more efficient and effective.
For the 2022 and 2023 audits, the Auditors completed the financial audits first for reporting purposes, and then completed the 2022 and 2023 Accountability Audits together. The auditor performed a financial statement audit to provide an independent opinion on the City’s financial statements and results of operations to determine if the financial statements present a reliable, accurate picture of the City’s finances. There was a planned delay in the timing of the 2023 audit due to the implementation of the City’s new Financial System (D365), which went live in June 2023. The delay also impacted the timing of the 2024 audit. A delayed audit is typical when financial systems are impacted, and the City has been working in partnership with the State Auditor’s Office to allow for the exception to the standard audit practice. The 2024 financial statement audit was started in December 2025 and is still underway, with a target completion date of May 2026.
The 2022 and 2023 Accountability Audit report will be available closer to the May 12 meeting date. It will be posted with the May 12 meeting materials so that it is accessible to the public, and Council will be notified when it is available.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
N/A
• Outreach Methods and Results:
N/A
• Feedback Summary:
N/A
BUDGET IMPACT:
Total Cost:
• The full audit cost for the 2022 audit was $134,130.76. The Accountability Audit is included in this amount.
• The full audit cost for the 2023 audit was $179,748.15. The Accountability Audit is included in this amount.
Approved in current biennial budget: ☒ Yes ☐ No ☐ N/A
Budget Offer Number:
297 (Fiscal Accountability)
Budget Priority:
Strategic and Responsive
Other budget impacts or additional costs: ☐ Yes ☒ No ☐ N/A
If yes, explain:
N/A
Funding source(s):
General Fund
Budget/Funding Constraints:
N/A
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
|
Date |
Meeting |
Requested Action |
|
5/28/2024 |
Study Session - 2022 Financial Audit Entrance Conference |
Receive Information |
|
10/15/2024 |
Special Meeting - 2022 Financial Audit Exit Conference |
Receive Information |
|
6/10/2025 |
Special Meeting - 2023 Financial Audit Entrance Conference |
Receive Information |
|
12/9/2025 |
Committee of the Whole - Finance, Administration, and Communications - 2023 Financial Audit Exit Conference |
Receive Information |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
N/A |
None proposed at this time |
N/A |
Time Constraints:
N/A
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
Attachment A: City of Redmond 2022 & 2023 Accountability Audit Exit Conference Overview