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The Audit Connection Blog

Results for: fitdatastories

FIT Data Stories: New 2020 financial data tells a story of COVID-19

October 7, 2021

2020 was anything but normal, and we can look at the annual reports that Washington’s cities and towns recently submitted to see how the COVID-19 pandemic affected their operations. How did the pandemic affect sales tax collections? How did federal funding support our cities and towns as they navigated the economic challenges of the pandemic?


FIT Data Stories: What does FIT tell us about Cash balances in Cash-basis cities

July 7, 2021

Cash is the heartbeat of government operations, especially for smaller cash basis governments. For better or worse, without cash there is no government spending. And without spending, there are no government services. As the old saying goes – cash is king! So how much cash is needed to keep a cash –basis government’s operations humming? The proper amount of “cash balance sufficiency” (CBS) for a government depends on each government’s spending priorities and what it hopes to accomplish for its citizens.


FIT Data Stories: Sales tax

March 17, 2021

Sales tax represents about a quarter of all city and town revenues, but did you know that three Washington cities or towns derive more than 50 percent of their total revenues from sales tax? Can you guess which ones and why? Unlock the answers to these questions and a world of other sales tax data stories by opening our interactive infographic based on data from the Financial Intelligence Tool (FIT).