Exit Conference: Port of Seattle
The Office of the Washington State Auditor’s vision is increased trust in government. Our mission is to provide
citizens with independence and transparent examinations of how state and local governments use public funds,
and develop strategies that make government more efficient and effective.
The purpose of this meeting is to share the results of your audit and our draft reporting. We value and appreciate
your participation.
Audit Reports
We will publish the Accountability audit report for January 1, 2017 through December 31, 2017 - see draft report.
Audit Highlights
We appreciate the collaboration and assistance from our Audit Liaison. She helped ensure a smooth audit
process from start to finish.
We appreciate the Salmon Bay Marina’s commitment to safeguarding of public funds and developing
control systems that ensure compliance with laws and regulations.
Recommendations not included in the Audit Reports
Management Letters
Management letters communicate control deficiencies, non-compliance or abuse with a less-than-material effect
on the financial statements or other items significant to our audit objectives. Management letters are referenced,
but not included, in the audit report. We noted certain matters that we are communicating in a letter to management
related to compensation increases.
Exit Items
We have provided exit recommendations for management’s consideration. Exit items address control deficiencies
or non-compliance with laws or regulation that have an insignificant or immaterial effect on the entity, or errors
with an immaterial effect on the financial statements. Exit items are not referenced in the audit report.
Work of Other Auditors
A financial statement and Single audit was performed by Moss Adams LLP. Professional audit standards require
us to evaluate relevant work done by other auditors and communicate certain matters to the governing body.
We performed procedures to ensure we could rely on the work of the external auditors and reference their
audit in our audit report. These procedures included consideration of attendance at key meetings,
evaluation of the firm’s last peer review report, review of the other auditor’s work, review of the other
auditor’s results and communications with the other auditor.
We did not become aware of any instance in which the work of the other auditors gave rise to concern
about the quality of their work.
There were no limitations that restricted our analysis of the other audit(s).
We did not become aware of any instance in which a material misstatement of the financial statements
has or may have resulted from fraud or suspected fraud.
Finalizing Your Audit
Report Publication
Audit reports are published on our website and distributed via e-mail in an electronic .pdf file. We also offer a
subscription service that allows you to be notified by email when audit reports are released or posted to our
website. You can sign up for this convenient service at: https://portal.sao.wa.gov/saoportal/Login.aspx
Audit Cost
At the entrance conference, we estimated the cost of the audit to be $95,000 plus travel expenses. Actual audit
costs will be approximately $98,100, due to additional work required for audit issues.
Your Next Scheduled Audit
Your next audit is scheduled to be conducted in September 2019 and will cover the following general areas:
Accountability for Public Resources
Review of CPA work papers
The estimated cost for the next audit based on current rates is $100,000 plus travel expenses. This preliminary
estimate is provided as a budgeting tool and not a guarantee of final cost.
Working Together to Improve Government
Audit Survey
When your report is released you will receive an audit survey from us. We value your opinions on our audit
services and hope you provide feedback.
Local Government Support Team
This team provides support services to local governments through technical assistance, comparative statistics,
training, and tools to help prevent and detect a loss of public funds. Our website and client portal offers many
resources, including a client Help Desk that answers auditing and accounting questions. Additionally this team
assists with the online filing of your financial statements.
Center for Government Innovation
The Center for Government Innovation is a resource for local governments that need to solve problems, reduce
costs, and improve the value of their services to citizens. The Center offers training and tools to help local
governments improve performance and effectiveness.
Questions?
Please contact us with any questions about information in this document or related audit reports.
Kelly Collins, CPA, Director of Local Audit, (360) 902-0091, Kelly.Collins@sao.wa.gov
Mark Rapozo, CPA, Assistant Director of Local Audit, (360) 902-0471 Mark.Rapozo@sao.wa.gov
Joe Simmons, CPA, Audit Manager, (206) 615-0557, Joseph.Simmons@sao.wa.gov
Elizabeth Pyatt, Assistant Audit Manager, (206) 615-0555, Elizabeth.Pyatt@sao.wa.gov
Sandy Nguyen, Audit Lead, (206) 615-0549, Sandy.Nguyen@sao.wa.gov
