Washington State Auditor’s Office NSAA Excellence in Accountability Award June 14, 2016 Sherrie Ard, CPA, CFE Local Government Performance Center Manager

Washington State Auditor’s Office To provide non-audit services and resources to help local governments deliver better results  Services  Resources  Technical assistance  Financial Intelligence Tool Local Government Performance Center Mission 2

Washington State Auditor’s Office What is FIT?  Online interactive program  Displays historical financial data in a trend format  Uses data filed annually with the State Auditor’s Office  Presents graphs and charts that allow for easy analysis  Allows for peer benchmarking using demographic information 3 Financial Intelligence Tool

Washington State Auditor’s Office Why FIT?  Statutory requirement to audit financial condition  Not all audits occur annually  Support governments in monitoring their financial situation  Provide enhanced tool currently used by auditors 4 Financial Intelligence Tool

Washington State Auditor’s Office How did we determine Features?  Listened carefully to stakeholders  Outreach to Focus Groups  Local Governments, Associations, State Agencies, Auditors  Researched other states 5 Financial Intelligence Tool

Washington State Auditor’s Office What are some advantages of FIT?  Help government officials understand & monitor financial health  Able to review financial information without waiting for an audit  Improved consistency and accuracy of financial reporting 6 Financial Intelligence Tool

Washington State Auditor’s Office 22 types of local governments Elected officials Finance officers Eventual public access 7 Financial Intelligence Tool

Washington State Auditor’s Office Demonstration of FIT 8 Financial Intelligence Tool

Washington State Auditor’s Office Sheri Sawyer Deputy Director of Local Government Services (360) Sherrie Ard, CPA, CFE Local Government Performance Center Manager (360) State Auditor’s Office Contacts