SEATTLE CITY COUNCIL - Record No: CB 118846

• Record No: CB 118846
• Version: 1
• Council Bill No: CB 118846
• Type: Ordinance (Ord)
• Status: Passed
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/21/2016
• 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

Date	Ver.	Action By	Action	Result
11/28/2016	1	City Clerk	attested by City Clerk
11/28/2016	1	Mayor	Signed
11/28/2016	1	Mayor	returned
11/22/2016	1	City Clerk	submitted for Mayor's signature
11/21/2016	1	City Council	passed	Pass
11/16/2016	1	Select Budget Committee	pass	Pass
11/7/2016	1	City Council	referred
11/2/2016	1	Council President's Office	sent for review
11/2/2016	1	City Clerk	sent for review

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.
body
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...