Finance Department

CFP 2021-2027

CFP 2021-2027
Bothell_proptax_2021

Source: 2021 Annual Comprehensive Financial Report

2021 Annual Comprehensive Financial Report Funding Breakdown

Source: 2021 Annual Comprehensive Financial Report

2021 Annual Comprehensive Financial Report Funding Used

The Finance Department’s daily mission is to provide accountability for all public funds, assets, policies and systems in a fiscally responsible manner, maintaining financial stability and public trust through sound financial management, while delivering responsive quality customer service to our citizens and fellow employees. Responsibilities include:

Financial Strategy

  • Fiscal Analysis & Strategy
  • Revenue Forecasting
  • Budget Development & Management
  • Capital Grant Management
  • Capital Facilities Plan (CFP)
  • Asset Management
  • Procurement
  • Investment Management

Administration

  • Budget, CFP & ACFR Graphic Design

Accounting & Reporting

  • Financial Reporting - Annual  Comprehensive Financial Report (ACFR)
  • Audit Administration
  • Treasury Management
  • Payroll & Benefit Administration
  • Position Budgeting
  • Project Accounting
  • Accounts Payable & Receivable
  • Internal Audit
  • Business License Renewal
  • Contract Management

Bothell Maintains Aa1 Strong Credit Rating!

Moody's Annual Issuer Comment as of May 12, 2021

Moody's May 12, 2021 Issuer Comment states that Bothell's credit position is excellent. Its Aa1 rating is stronger than the median rating of Aa3 for cities nationwide. The notable credit factors include a robust financial position, a very strong wealth and income profile and a substantial tax base. It also reflects a light debt burden and a moderate pension liability.  Moody's Credit Rating (PDF)

Why is a credit rating important?  Just like personal credit score, a city also receives a credit rating that provides investors an opinion of the credit quality of the obligation or of an issuer's general creditworthiness.  Investors use ratings to help price the credit risk of securities they may buy or sell.  Bothell's Aa1 rating is considered an investment high-grade by Moody's. Moody’s rating scale (atlas-mag.net)

ACFR Award

Bothell's commitment to outstanding achievement is recognized nationally. The Government Finance Officers Association (GFOA) has awarded its Certificate of Achievement for Excellence in Financial Reporting to the City of Bothell annually since 2001. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by the City of Bothell and its management. View the GFOA News Release.