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Report cover: 2021 Annual Comprehensive Financial Report

  2021 Comprehensive Annual Financial Report

We are pleased to present the King County Annual Comprehensive Financial Report for fiscal year ending December 31, 2021. The Report is based on the governmental financial reporting model which depicts the County as a single unified entity, while continuing to provide the traditional fund-based financial statements.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to King County for its 2020 Comprehensive Annual Financial Report. This is the 40th consecutive year that the County has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe the 2021 Annual Comprehensive Financial Report continues to meet the award program's requirements and have submitted it to the GFOA to determine its eligibility for another certificate.

Link/share our site at kingcounty.gov/ACFR

NOTE: Documents on this page are in PDF format. To request a document in an alternate format, email Eben Sutton or July Maha.


2020 Comprehensive Annual Financial Report

  • At December 31, 2020, the assets and deferred outflows of resources of the County exceeded its liabilities and deferred inflows of resources by $7.97 billion (referred to as net position of the primary government). Of this amount, $1.55 billion represents unrestricted net position, which may be used to meet the County's short-term obligations to its vendors, creditors, employees and customers.
  • The County's total net position increased 10 percent or $753 million over last year mainly because of capital assets acquisitions and construction that did not utilize borrowing. The Puget Sound Emergency Radio Network levy collections have been sufficient to support its capital construction activities, avoiding previously anticipated borrowing. The County also decided to fund the Patricia H. Clark Children and Family Justice Center construction through current revenues.
  • At yearend 2020, the County's governmental funds reported combined fund balances of $1.02 billion, a decrease of $26 million in comparison with the prior year. Approximately 4 percent or $38 million of this amount is unassigned fund balance, which is available for spending at the government's discretion.

2019 Comprehensive Annual Financial Report

We are pleased to present the King County Comprehensive Annual Financial Report for fiscal year ending December 31, 2019. The ACFR is based on the governmental financial reporting model which depicts the County as a single unified entity, while continuing to provide the traditional fund-based financial statements.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to King County for its 2018 CAFR. This is the 38th consecutive year that the County has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe the 2019 Comprehensive Annual Financial Report continues to meet the award program's requirements and have submitted it to the GFOA to determine its eligibility for another certificate.