Each year the PUD’s General Manager submits an annual Operations and Capital Budget to the Commission for review and approval. The budget process begins in the fall with Commission workshops where the Commission reviews and makes changes to the draft budget. In November, the PUD holds customer meetings and a public hearing. A second draft version of the budget is then presented with resulting changes and rate information to the Commission. The Commission adopts the final version in late November or early December.
The PUD’s Director of Finance submits an annual financial statement to the Commission each year for review and approval. The District’s financial policies conform to the Generally Accepted Accounting Principles (GAAP) and the financial statements have been developed in compliance with the Governmental Standards Board (GASB) Statement 35 – Basic Financial Statements -and Management Discussion and Analysis – for State and Local Governments.
The Commission approves the final report each year by mid April or early May. The annual report is then submitted to the Washington State Auditor’s Office pursuant to RCW 43.09.230.