Moss Adams delivers 2024 audit findings for Seattle Public Utilities

Seattle Public Utilities (SPU) received a clean bill of health in its 2024 audit, as reported during the Parks, Public Utilities and Technology Committee meeting on June 11, 2025. The independent audit, conducted by Moss Adams, confirmed that SPU's financial statements for water, drainage, wastewater, and solid waste were presented fairly and accurately, adhering to generally accepted accounting principles.

The audit findings were presented by Lori Tisch and her colleagues, who emphasized the importance of transparency and accountability within SPU. They noted that the audit process not only evaluates financial statements but also assesses the internal controls that support these figures. The results showed no material weaknesses or significant deficiencies in internal controls, which is crucial for maintaining public trust and ensuring effective governance.

Keith Simovic, another auditor from Moss Adams, highlighted that the unmodified opinion on SPU's financial statements is a positive outcome, indicating that stakeholders, including taxpayers and bondholders, can rely on the reported financial data. This clean opinion is essential for the city's overall financial health, as SPU's financial results contribute to the city's broader financial statements.

The committee members expressed appreciation for the thoroughness of the audit and the collaborative efforts between SPU and the auditors. The meeting underscored the significance of these audits in informing the public about the financial status of essential utilities and ensuring that the city operates efficiently and transparently.

As Seattle continues to prioritize accountability in its public utilities, the successful completion of the 2024 audits sets a strong precedent for future financial oversight and community trust. The next steps will involve implementing any recommendations from the audit to further enhance SPU's operations and financial reporting.