Financial Statements & Annual State Audit

Comprehensive Annual Financial Report (CAFR)


The Comprehensive Annual Financial Report, or CAFR, is the City's official annual financial report. The report conforms to national accounting and reporting standards, and is audited annually by the Washington State Auditors Office. The report includes all financial activities of the City.



Annual Audit


The City of Bainbridge Island is audited annually by the Washington State Auditor’s Office. According the State Auditor's Office, the audit's purpose is to “assure users of governmental financial statements that those statements are fairly presented," and to provide users with “an independent basis for relying upon management’s assertions concerning the government’s financial position, results of operations and cash flows.” The audit is a thorough process in which a State Auditor spends six to eight weeks at City Hall inspecting records, interviewing staff, and observing and evaluating the City’s financial processes.

The mission of the Washington State Auditor's Office is to work in cooperation with their audit clients and citizens as an advocate for government accountability. As an elected agency, the State Auditor's Office has the objective independence necessary to perform audits and investigations. Audits comply with professional standards and federal, state, and local requirements.


Reports


View the following financial statements and reports: