The Annual Comprehensive Financial Report details the city's financial health by capturing the city's activities and balances (assets, debt liabilities, etc.), expenditures (salaries, operational service costs, etc.), and revenues (taxes, grants, etc.). The ACFR is audited annually by the Washington State Auditor's Office for compliance with state law (RCW43.09.230). Upon completion of the audit, the report is certified and filed with the Washington State's Auditor's Office.
The City of Federal Way has been honored with a Certificate of Achievement for Excellence in Financial Reporting each year for its Annual Comprehensive Financial Report. Below are the City of Federal Way's Annual Comprehensive Financial Reports.
The Monthly Financial Report captures the city’s monthly and year-to-date revenues and expenditures, cash and fund balance, and investment performance, transactions, and holdings. The reports are shared with the city’s executive leadership and approved by city council to help inform educated judgements and decision making.
Below are the City of Federal Way’s Monthly Financial Reports.