Port of Tacoma issues annual financial report

The Port of Tacoma has issued its 2005 Comprehensive Annual Financial Report (CAFR), an independently audited report that conforms to standards of the Government Financial Officers Association (GFOA).

According to Jeff Smith, the Port’s Senior Director of Finance and Administration, the CAFR differs from the Port’s “popular” annual report (published each April) by providing a full 10 years of statistical information and detailed income statements.

Smith says this document is important for bond rating agencies, which compare the Port’s performance against common reporting standards. “I believe that participation with the GFOA and production of the Comprehensive Annual Financial Report has helped the Port of Tacoma earn better bond ratings,” he said. “More importantly, the document provides a clear picture of the high standards set by Port management.”

To view the Port of Tacoma’s 2005 Comprehensive Annual Financial Report, visit http://www.portoftacoma.com .