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
Entrance Conference for 2025 Financial Audit, CFD 2014-01 Accountability Audit, and CFD 2016-01 Accountability Audit
OVERVIEW STATEMENT:
recommendation
Staff from the Office of the Washington State Auditor will discuss the scope, timing, and cost of the 2025 Financial Audit, CFD 2014-01 Accountability Audit, and CFD 2016-01 Accountability Audit.
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.
The auditor will perform a financial statement audit for 2025 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.
For CFD 2014-01 and CFD 2016-01, an accountability audit will be performed for the period of January 1, 2022-December 31, 2024.
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 estimated cost of the 2025 Financial Audit will be available once audit planning procedures have been completed by staff from the Office of the Washington State Auditor.
The estimated cost for the...
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