Washington Auditor’s acclaimed Financial Intelligence Tool to be an example of leading practice at Pew Charitable Trust national conference

Who is using FIT?

The Office of the Washington State Auditor is a national leader in developing and applying tools to assess and display information about local governments’ financial condition. That’s why the Pew Charitable Trust has invited the Office of the Washington State Auditor to speak at its State and Local Fiscal Health Workshop on February 27 in Boston, Massachusetts.

The workshop will bring together state officials from across the country to help staff at the Massachusetts Division of Local Services as they work to improve the state’s municipal fiscal data dashboard and to allow officials from all the states to exchange ideas.

Washington’s Financial Intelligence Tool (FIT), a unique local fiscal health tool and dashboard, is of particular interest to the participants as they seek to improve their own fiscal data visualizations. Designed to help local governments understand information about their financial health, FIT received the 2016 National State Auditors’ Association (NSAA) Award for Excellence in Accountability. Since then, local governments across Washington have used FIT to gain insight into their financial condition and make sound fiscal decisions based on that data.

 

Who’s using FIT (Financial Intelligence Tool)?

Who's using FIT graphicUnderstanding a government’s financial health can be complex. A variety of financial ratios and indicators can help officials monitor their government’s financial status, but no single indicator, grade or score gives a complete representation of the government’s situation. That is why the Local Government Performance Center at the Washington State Auditor’s Office has developed a Financial Intelligence Tool (FIT) to help officials regularly assess and monitor their government’s financial health. Continue reading