The City of Ridgefield produces financial statements that conform to generally accepted accounting principles (GAAP) and are audited in accordance with generally accepted auditing standards by the Washington State Auditor’s Office (SAO) under the Revised Code of Washington (RCW) 43.09.020. Pursuant to that requirement, the City issues the Annual Comprehensive Financial Report for each fiscal year end.
The City has earned the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting the past several years. This award is given to government entities which go beyond the minimum requirements of generally accepted accounting principles to prepare Annual Comprehensive Financial Reports that evidence the spirit of transparency and full disclosure.
A Popular Annual Financial Report, or PAFR, is a document that is intended to convey the financial results of the City’s operations to those stakeholder’s of the City that do not necessarily have a background in public finance.
The City has earned the Government Finance Officers Association (GFOA) Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR Award) for its Popular Annual Financial Report for the fiscal year ended December 31, 2021. The Popular Annual Financial Report is evaluated based on reader appeal, understandability, distribution methods, creativity and other elements.