Accounting Procedures

Goal: The city’s accounting principles will follow General Accepted Accounting Principles.

The city will maintain a high standard of accounting practices and follow General Accepted Accounting Principles (GAAP) for its accounting procedures and financial statement presentation.  The city will comply with the Washington State Budgeting, Accounting and Reporting System (BARS) manual prescribed by the Washington State Auditor’s Office. Each year the city will prepare and publish an Annual Comprehensive Financial Report (ACFR) in addition to the annual report required by the BARS manual. The ACFR will be presented on the city website each year for better communicating financial information to citizens and other interested parties.