State auditors give Snoqualmie clean regulatory audits for FY2022'023; GAAP disclaimer noted

The Washington State Auditor—s Office told the Snoqualmie City Council on Oct. 27 that the city—s accountability and financial-statement audits for the 2022 and 2023 fiscal years complied in all material respects with applicable state laws, regulations and the state-prescribed Budgeting, Accounting, and Reporting System (BARS). Auditors also reported that the city met specified requirements for its Coronavirus State and Local Fiscal Recovery Fund attestation work for calendar year 2023.

The audit team issued an unmodified opinion on the city—s financial statements prepared on the regulatory basis required by state law and the BARS manual, and found no material weaknesses in internal control. The team also noted an adverse opinion relative to generally accepted accounting principles in the United States (GAAP), explaining that Washington cities prepare financial statements under the state-prescribed BARS…