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Federal Way posts clean 2024 audit; finance director highlights $678.6 million net position
Summary
The city's finance director told the council the 2024 audited comprehensive financial report is complete, with a $27.5 million increase in net position to $678.6 million, a $22.7 million reported general fund balance and $146 million in cash and investments; the audit received national recognition.
Finance Director Steve Groom told the Federal Way City Council on Oct. 7 that the city's 2024 audited comprehensive financial report has been completed and posted to the city's website.
Groom said the city's total net position increased by $27,500,000 and now stands at $678,600,000. "If people were interested enough to follow each of…
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