Annual & Financial Reports
The Washington State Auditor's Office (SAO) prescribes the accounting and reporting of local governments in the State of Washington, under RCW 43.09.200. Cities have the choice of two accounting and reporting options: GAAP and Cash Basis.
The City of Lake Stevens is categorized as Cash Basis and follows single-entry accounting and cash basis reporting procedures which do not reflect financial condition and results of operations in conformance with GAAP.
The City has been audited by the SAO on a biennial basis, yet completes and files financial reports annually in accordance with state law. Beginning in 2016, the City will receive annual financial statement audits based on SAO policy. Accountability audits will continue to occur on a biennial basis.
In 2011, the City of Lake Stevens received a congratulatory letter from Washington State Auditor, Brian Sonntag, in recognition of eleven consecutive audits without significant audit exceptions.
In 2018, the City continued it's exemplary record, again receiving an audit with no significant audit exceptions.
|Monthly Reports||Quarterly & Annual Reports|
2021 May Financial Report
2020 May Financial Report
2019 May Financial Report
2019 Year End Summary
A Single Audit (audit of federally funded grants) is only required if the City expends more than $750,000 in federal funds in a single year. The City exceeded this amount for the first time in recent history for fiscal year 2020.
- 2020 Final Audit Report
- 2020 Accountability Audit Report
- 2018 - 2019 Accountability Audit Report
- 2019 Unaudited Financial Statements
- 2018 Unaudited Financial Statements
- 2017 Accountability Audit Report
- 2016 Financial Statement Audit Report
- 2015 - 2016 Accountability Audit Report
- 2015 Financial Statement Audit Report
- 2013 - 2014 Accountability Audit Report
- 2013 - 2014 Financial Statement Audit Report
- 2011 - 2012 Financial Statement Audit Report
- Audit Recognition Letter
Impact Fee Reports
RCW 82.02.070 provides that: “Annually, each county, city or town imposing impact fees shall provide a report on each impact fee account showing the source and amount of all moneys collected, earned, or received and system improvements that were financed in whole or in part by impact fees.”