Disclaimer: This presentation is intended to be viewed in conjunction with the complete packet of exit materials provided. A copy of those
materials may be requested by contacting the presenters listed or by emailing PublicRecords@sao.wa.gov.
Exit Conference
Port of Seattle
Joe Simmons
Program Manager
Maddie Frost-Shaffer
Audit Supervisor
Sonia Khokhar
Audit Lead
March 18, 2025
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Results that Matter
Increased trust in government
Independent, transparent
examinations
Improved efficiency and
effectiveness of government
Pat McCarthy
State Auditor
Accountability Audit Results
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Results in Brief
This report describes the overall results and conclusions
for the areas we examined.
January 1, 2023 through December 31, 2023
In those selected areas, Port operations complied, in all
material respects, with applicable state laws, regulations,
and its own policies, and provided adequate controls over
the safeguarding of public resources.
In keeping with general auditing practices, we do not
examine every transaction, activity, policy, internal control,
or area. As a result, no information is provided on the
areas that were not examined.
Accountability Audit Results
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Using a risk-based audit approach, for the Port we
examined the following areas during the period:
• Cash receipting and accounts receivable - timeliness and
completeness of deposits, billing, and collections at
Fishermen’s Terminal and Shilshole Bay Marina
• Compliance with public work projects - prevailing wages
• Fuel stations and fuel cards – tracking and monitoring of
fuel usage and fuel cards
• Open public meetings – compliance with minutes,
meetings and executive session requirements
• Financial condition – reviewing for indications of financial
distress
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• A financial statement and federal grant audit was performed by Moss
Adams of the Port.
• We did not find anything about their work that caused concern about
its quality.
• No limitations restricted our analysis of the other audits.
• Did not notice any instance in which a material misstatement of the
financial statements has or may have resulted from fraud or suspected
fraud.
Work of Other Auditors
Closing Remarks
• Audit costs are in alignment with our original estimate
• Next audit: Fall 2025
• Accountability for public resources
• Review of CPA work papers
• Assessment audit of the Port of Seattle Industrial
Development Corporation
An estimated cost for the next audit has been provided
in our exit packet
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Report Publication
 Audit reports are published on our
website.
 Sign up to be notified by email when
audit reports are posted to our website:
https://sao.wa.gov/about- sao/sign-up-
for-news-alerts/
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.
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Thank You!
• We appreciate the Port’s commitment to the safeguarding of public funds and developing control
systems that ensure compliance with laws and regulations.
• The Port responded promptly to our requests and provided all documents necessary to complete the
audit in a timely manner.
• We would like to thank Lisa Lam, Andrew Cartica, and Glenn Fernandes for participating in weekly
status update meetings. It allowed for increased communication and kept the audit running smoothly.
• Thank you, Yanet Maldonado and Angela Peterson for their timely responses throughout our review of
prevailing wages for public works contracts.
• We appreciate Jim Winex, Karlina Smith, Rut Perez-Studer and Ray Giometti for their prompt
communication and accommodating us for our on-site cash receipting visits to Shilshole Bay Marina
and Fishermen’s Terminal.
• Thank you, Veronica Harris and Frank Sanchez for their quick turnaround in providing supporting
documentation throughout our review of cash receipts.
• Thank you, Ian Tucker, Levi Clark and Dan Alter for all their assistance while reviewing fuel cards.
