The City, as a steward of public funds, holds this responsibility to the highest levels of integrity. One of the ways to maintain a high level of accountability and transparency is in the financial reporting. The City prepares annual financial reports, which are audited by the Washington State Auditor. Additionally, the Finance team prepares a monthly Treasurer's Report.
Annual Financial Report
Recent audit reports include:
The City of Woodinville reports annual financial activity, year ending December 31, using the revenue and expenditure classifications, statements, and schedules contained in the Cash Basis Budgeting, Accounting and Reporting System (BARS) manual. The BARS Manual directs accounting and reporting standards for local governments in accordance with Revised Code of Washington 43.09.200.
Assess whether public funds and assets are protected and accounted for, and that government agencies are following laws and regulations.
Audit reports for the City of Woodinville are available on the Washington State Auditor's website. Information about the financial health of the City can also be found by utilizing the State Auditor's Financial Intelligence Tool (FIT).
The Finance team reports key financial information monthly to the City Council for the budget biennium. The report provides:
- Major Sources of Operating Revenue Versus Budget
- Surface Water Revenues and Expenditures Versus Budget
- Operating Revenue and Expenditures Summary
- Capital Project and Capital Overlay Expenditures Vs Budget
- Capital Project Revenues Versus Budget
- Budget to Actual by Fund
- Summary of Cash and Investments Holding and Performance