The Finance Department is overseen by Finance Director Kirk Johnson who is responsible for ensuring the City’s financial stability, proper accounting procedures and budget monitoring are adhered to and maximize the use of the City’s financial resources.
The Finance Division oversees and coordinates the preparation of the city’s budget, capital assets program, monthly and annual reports, and grant and debt management.
Our department’s mission is to provide professional financial services to City Manager, Council, and City departments in order to promote fiscal stability and integrity. Our primary focus is support for the various City departments as well as external organizations. We provide relevant financial and managerial information in an accurate and timely manner, and professional direction and advice to promote current and future fiscal integrity.
The City’s budget represents the proposed fiscal plans for the City of Ridgefield. It brings together the direction and policies of the City Council working in a collaborative effort with the citizens, city staff and other interested parties, and best determines the financial resources available to establish the operating and capital plans for the next budget cycle. Prior to budget adoption, many meetings are held, including two public hearings, three Council work sessions, and four Budget Advisory Committee meetings.
An annual budget is developed based on Council adopted budget policies. These polices provide the framework for the budget, starting with a baseline, a review of new requests/initiatives to determine what can be funded, staff and staff allocations, and the development of the special revenue and capital project budgets. The baseline budget requires the use of realistic revenue estimates and a modest level of increases to ongoing expenditures to account for inflation. Baseline budgets are based on projecting current revenues that will fund to cost to provide core services. It excludes one-time only revenues and expenses, such as grants and capital purchases. New requests or initiatives are then received from each department based on staff knowledge of anticipated needs or implementation of Council policy. The capital budgets are developed from the approved capital facilities plan and prioritized based on critical need, available funding and what can reasonably be accomplished by City staff.
The final budget consists of the operating, special revenue, debt service and capital funds. The operating budget comprises the General, and Street Funds under General Government, and the Water, Sewer Treatment and Stormwater Funds under the Utility Government.
2019 Proposed Budget: The 2019 combined total budget for all funds is $19.7 million, a decrease of $41.4 million from the original adopted 2018 budget. The total operating budget is $11.2 million. The capital projects budget is $3.9 million. The budget decrease is due to several capital projects that were completed in 2018, including the Ridgefield Outdoor Recreation Complex and the 35th and Pioneer roundabout project.
2018 Annual Budget: The 2018 combined total budget for all funds is $50.9 million, an increase of $30.7 million from the original adopted 2017 budget. The total operating budget is $10.5 million. The capital projects budget is $21.1 million. The budget increase is due to several high priority park and water projects, including the Ridgefield Outdoor Recreation Complex.
2017 Annual Budget: The 2017 combined total budget for all funds is $20.2 million. The total operating budget is $9.23 million and $7,922.038 of new initiatives. The special revenue budget is $3.97 million and capital projects is $6.96 million. The 2017 budget was approved by the Ridgefield City Council in November 2016.
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 Comprehensive Annual Financial Report (CAFR) 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 CAFRs that evidence the spirit of transparency and full disclosure.