Washington law requires that the City publish a Comprehensive Annual Financial Report each year. The report must conform with generally accepted accounting principles and be audited by the State Auditor's Office. The financial report describes how the City uses its financial resources each year as well as provides a picture of the City's financial condition at the end of the calendar year, which is also the City's fiscal year. The annual financial report is extensively reviewed by the State Auditor's Office to make sure it fairly represents the City's financial position.
The Popular Annual Financial Report is an easy to read version of the City's Comprehensive Annual Financial Report (CAFR) and is designed to provide citizens with an overview of the City's revenue, expenditures and general information, in a simplified interpretation of the CAFR. The PAFR is not obligated to be audited under generally accepted accounting principles requirements, however its financial content is derived from the City's audited CAFR.
The City of Kennewick carefully monitors how it spends public resources to ensure that there is enough money each year to provide the highest quality services possible to its residents and other stakeholders. The Finance Division publishes monthly, quarterly, and annual monitoring reports. The reports contain information on the local economy, financial tables, and highlights the resources and expenditures of key funds.