Thursday, October 23, 2008

Press Release: City receives clean state audit, 14th year in a row

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October 17, 2008

Tho Kraus
Finance Director
Linda Farmer, APR
Communications & Government Affairs Manager
253.835.2411 or 253.261.1211

City receives clean state audit, 14th year in a row

The City of Federal Way received a clean bill of health from the State Auditor’s office, making it the 14th consecutive City audit without any findings.

Finance Director Tho Kraus believes the clean audit is due to all City staff following the appropriate accounting policies and procedures. “This year's 14th consecutive unqualified audit opinion reflects our continuous commitment. We take great pride in accountability and in being good stewards of our taxpayer’s dollar,” shares Kraus.

The audit report, issued September 22, evaluated the City’s accountability in 11 different areas including accounting, cash receipting, investments, open public meeting laws, restricted funds – real estate excise tax, restricted funds – Proposition 1, disbursements/expenditures, payroll/personnel, conflict of interest/ethics, inter-fund transactions/balances and police financial operations/custody of evidence. The audit also includes an evaluation of internal controls and compliance with federal program requirements.

The State Auditor’s office believes the 14 consecutive years of no findings “reflects City officials’ commitment to public accountability.” The City has had a total of 17 audits since it was incorporated in 1990.



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