Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Federal Way: 2024 audited financial report shows net position up, finance director highlights awards
Summary
City Finance Director Steve Groom presented the 2024 audited comprehensive financial report, reporting an approximate $27.5 million increase in net position, a $30 million revenue gain, and a $22.7 million ending general fund balance; the city earned awards for budgeting and financial reporting for a 34th consecutive year.
Steve Groom, Federal Way's finance director, presented the city's 2024 audited comprehensive financial report on Oct. 7, saying the audit had been completed and the report posted to the city website.
Groom highlighted the report's key figures: a reported increase in total net position of about $27.5 million, bringing the city's total net position to about $678.6 million;…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
