Below is a list of Financial Reports pertaining to the City of Lakewood.
Quarterly Financial Reports
The quarterly financial reports provide a comprehensive review of the City’s primary operating funds, the General and Street Operations & Maintenance Funds, with graphical presentations of the City’s major revenue sources with comparisons to prior year actual results and current year budget projections. The report also provides information on the ending fund balance & cash position, debt, grant activity, capital projects, and financial statements for all City funds. The City will strive to continue to make improvements in its financial reporting scheme so that information is available to the City Council, City Manager, departments and public is the best available for sound financial decisions.
2023 Financial Reports
GFOA Triple Crown Winner
The Government Finance Officers Association of the United States and Canada (GFOA) has named the City of Lakewood, WA as a 2020 Triple Crown Winner. GFOA ‘s Triple Crown designation recognizes governments who have received GFOA’s Certificate of Achievement for Excellence in Financial Reporting or Canadian Award for Financial Reporting, Popular Annual Financial Reporting Award, and Distinguished Budget Presentation Award for a fiscal year. The City of Lakewood is one of just 317 governments that received the Triple Crown for fiscal year 2020.
The Triple Crown designation represents a significant achievement. To qualify, each entity must meet the high standards of all three separate award programs. Each award program recognizes governments that produce reports which communicate their financial stories in a transparent manner and meet applicable standards.
To learn more about GFOA’s Awards Programs, visit https://www.gfoa.org/awards
Annual Comprehensive Financial Report
The City of Lakewood’s Annual Comprehensive Financial Report (ACFR) is presented in three sections: introductory, financial and statistical. (This report used to be known as the Comprehensive Annual Financial Report).
The introductory section includes the transmittal letter, the City’s organizational chart and a list of City officials. The financial section includes the independent auditor’s report, management discussion and analysis, the basic financial statements, the combining and individual fund statement, and debt service requirement schedules. The statistical section includes selected financial and demographic information presented on a multi-year basis.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Lakewood for its fiscal year 2021 Comprehensive Annual Financial Report. The City previously received this recognition for its 2013 thru 2020 Comprehensive Annual Financial Report.
This award is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. The Annual Comprehensive Financial Report has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read it. The City will continue to produce this report and submit it annually to GFOA to determine its eligibility for another certificate.
Click on a cover to read the full report.
Popular Annual Financial Report
The report provides an overview of the City’s financial position, including sources of revenues and expenditures, as well as economic information about the community. The Popular Annual Financial Report (PAFR) of the City of Lakewood is published to increase public awareness regarding the City’s financial condition. It is our goal that this report is easy to read and understandable. Fiscal year 2016 was the City’s first year of publication of this report.
The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting to the City of Lakewood for its 2016 PAFR thru 2021 PAFR. The Award for Outstanding Achievement in Popular Annual Financial Report is a prestigious national award recognizing conformance with the highest standards for the preparation of state and local government popular reports. In order to receive this award, a government must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity, presentation, understandability, and reader appeal. This award is valid for a period of one year only. The City will continue to produce this report and submit it annually to GFOA to determine its eligibility for another award.
Click on a cover to read the full report (PDF)
