Finance Director Steve Groom presented Federal Way’s Annual Comprehensive Financial Report for 2024 at the city council meeting on Oct. 7.

Groom promised the council members and audience that “this is going to be more entertaining than it sounds,” and proceeded to share highlights of the city’s financial position over the past year.

The city’s net position, total revenue, balance of the general fund and total cash and investments all increased, Groom shared.

The report directs readers to the exact pages where details of these wins can be found, and Groom walked the council through the specifics during his presentation.

The city’s total net position, for example, can be found on page 17 of the report. Specifically, the net position increased by $27.5 million or 4.2% to $678.6 million

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