12 Feb Port of Kennewick Marks 28 Years of Consecutive Clean Audits
Port of Kennewick Marks 28 Years of Consecutive Clean Audits
Kennewick, Wash.— Port of Kennewick’s recent Financial Statements audits and the Accountability & Compliance Audits were all clean, complete and accurate – with no findings, according to the Washington State Auditor’s Office.
The Washington State Auditor’s Office issued notice on February 12, 2024, officially closing audits covering detailed financial statements and statistical data, policies and procedures related to the port’s operations between 2021 and 2022.
Independent audits aim to provide reasonable assurance that financial statements are accurate and presented in a transparent manner, including disclosures necessary to provide a reasonable understanding of the port’s financial affairs.
These audits mark 28 consecutive years of clean reports for Port of Kennewick—with no findings (a finding would indicate material deficiencies within the organization).
“Having the State Auditor’s Office inspect and review our operations helps assure the public that Port of Kennewick is spending tax dollars properly and operating transparently with exacting standards,” said Nick Kooiker, the port’s chief financial officer/deputy CEO. “Twenty-eight years of clean audits is proof that our port utilizes tight internal controls to safeguard the public’s funds.”
The Washington State Auditor’s Office reports are available online at:
ViewReportFile (wa.gov) (Financial)
ViewReportFile (wa.gov) (Accountability)
The 2021 and 2022 Financial Statement Audits examined cost allocation methodology, timesheet tracking, capital assets, financial statement presentation and disclosure, cash and investments, GASB 68 state pension plan balances, GASB 75 Other Post-Employment Benefit (OPEB) balances, property tax balances, GASB 87 leases (receivable/deferred inflow/lease interest income), construction in progress, improvements other than buildings, property lease/rental operations, general operations expenses, maintenance expenses, general and administration expenses, public, election, and governmental relations expenses, capital contributions, and payroll reconciliation.
The 2021 and 2022 Accountability and Compliance Audits examined the areas of the Open Public Meetings Act (OPMA), financial condition, accounts payable disbursements, payroll disbursements, credit cards, paid time off, merit awards, quarterly reporting, bank statement reconciliations; and information technology. In all areas, the audits determined that Port of Kennewick operations complied with applicable state laws, regulations and its own policies and provided adequate controls over public resources.
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Port of Kennewick is developing assets to create sustainable family wage jobs, user-friendly transportation systems,
and quality-of-life enhancements for visitors and residents of the port district.