In 2017, the city of Mercer Island passed an independent audit by the Washington State Auditor’s Office (SAO), marking at least 22 years in a row of clean audits. The full audit is available on the state’s website (enter “Mercer Island” in the search box).
No other indicator provides a better measure of an organization’s financial management practices, said city Finance Director Chip Corder.
“Taxpayers on Mercer Island can feel good about the city’s long history of strong stewardship of public resources,” he said.
All local governments in Washington are audited regularly by the SAO, in accordance with state law. Mercer Island also has a “Aaa bond rating” with Moody’s, the best possible rating.
“That top rating allows us to procure the best possible financing rates, which keeps our city’s costs down,” Corder said.
To see the city’s prior years of financial reporting, click here.