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Record No: CB 118846    Version: 1 Council Bill No: CB 118846
Type: Ordinance (Ord) Status: Passed
Current Controlling Legislative Body City Clerk
Final Action: 11/28/2016
Ordinance No: Ord 125204
Title: AN ORDINANCE relating to the Office of City Auditor; adding a new Section 3.40.060 to the Seattle Municipal Code to require that the Auditor produce a biennial financial condition report.
Sponsors: Tim Burgess
Supporting documents: 1. Summary and Fiscal Note, 2. Signed Ordinance 125204, 3. Affidavit of Publication
CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
title
AN ORDINANCE relating to the Office of City Auditor; adding a new Section 3.40.060 to the Seattle Municipal Code to require that the Auditor produce a biennial financial condition report.
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BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. A new Section 3.40.060 is added to the Seattle Municipal Code as follows:
3.40.060 Financial condition report
A. In September, 2017, and September, 2018, and biennially thereafter, the City Auditor shall prepare a citywide financial condition report (the Report) for the City Council. The Report shall provide information to the people of Seattle on the City's financial condition and trends on the financial and economic indicators described in subsection 3.40.060.B.
B. The City Auditor shall endeavor to use the most reliable data available to produce the Report which shall include analysis of the following financial and economic indicators:
1. Revenues, including, but not limited to:
a. Sources of revenue, including, but not limited to, sales tax, property tax, fees, grants and utilities;
b. Revenue per resident;
c. Uses of property tax revenue; and
d. General fund revenue surpluses and shortfalls.
2. Expenditures, including, but not limited to:
a. Expenditures by category (such as public safety, utilities, human services, etc.); and
b. Expenditures per resident.
4. Debt, including, but not limited to:
a. Debt per resident;
b. Debt by type (such as bonds or lines of credit);
c. City debt backed by the general fund; and
d. City debt policies and ratings.
5. Property values (market and assessed values);
6. Employment, including but not limited to:
a. Jobs, by ind...

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