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Ocean Shores finance committee to bring simplified cost-allocation and fund cleanup to council in June
Summary
City staff and the finance committee reviewed a new, condensed cost-allocation summary prepared by CPA Tara Dunford, agreed to present the plan to the full council at the second June meeting, and outlined a broader cleanup of legacy funds and accounting codes intended to bring the city into compliance with Washington State's BARS manual.
Ocean Shores finance staff and the three-member finance committee reviewed a condensed cost-allocation plan and agreed to bring the proposal to the full City Council at the council's second meeting in June, with a request that changes be backdated to Jan. 1, 2025 if council approves.
The committee said the rewrite is meant to correct long-standing coding and fund-structure problems flagged by the Washington State Auditor's reporting system (the BARS manual) and reduce the confusion that led the city's annual report upload to return hundreds of errors this year. Finance staff described the work as a mix of compliance, transparency and bookkeeping cleanup that affects transfers between enterprise funds and the general fund.
Finance staff summarized recent revenue and expense trends for committee members. Property-tax revenue rose about 5 percent year over year; utility tax revenue increased roughly 2 percent, building-permit receipts rose about 8 percent and hotel-motel tax receipts rose about 1 percent. Real-estate excise tax…
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