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The Port is pleased to announce it has received a clean audit from the Washington State Auditor’s Office. The State Auditor’s Office reviews all state and local government financial records each year to ensure taxpayer dollars are being spent properly. The 2016 Port Audit revealed no deficiencies in the Port’s financial records.
“I am happy with the results of the audit” said Port Finance Director Tamara Sobjack. “The Port is dedicated to responsible and transparent financial management and the results of the audit reflect those values. Our employees take great pride in working for a fiscally responsible municipal government. Maintaining accurate financial records is a core function of all Port operations and activities.”
In 2016, the Port collected $23.3 million in operations revenue and over $7 million in taxes, spent $23.4 million on capital assets and increased net assets by over $19 million. It is anticipated this year’s clean audit will lead to the Port’s 25th consecutive Certificate of Achievement for Excellence in Financial Reporting (CAFR). The Government Finance Officers Association established the CAFR program to encourage state and local governments go to beyond the minimum requirements of financial reporting and prepare reports that evidence the spirit of transparency and full disclosure. Reports submitted to the CAFR program go through a comprehensive review, and only those entities meeting the strict requirements are awarded the Certificate of Achievement.