Financial Health

General Fund Financial Health

Takeaways:

Healthy Fund Balance
Far exceed Board’s directive
OSPI health indicator rates high

Bond Ratings - Moody's

Issuer Comment
Oct. 9, 2024

Rating: Aa3
Issuer Rating: 1
Aa#: No Outlook

Snohomish County SD 4 (Lake Stevens), WA
Update to credit metrics

Issuer profile
Snohomish County SD 4 (Lake Stevens) is located in northwestern Washington and is headquartered in the city of Lake Stevens, approximately 30 miles northeast of Seattle.

Bank Financial Strength Rating Definitions
A: Banks rated A possess superior intrinsic financial strength. Typically, they will be institutions with highly valuable and defensible business franchises, strong financial fundamentals, and a very predictable, stable operating environment.

Rating Scale
Long-Term
Investment Grade	Non-Investment Grade
Aaa	Ba1
Aa1	Ba2
Aa2	Ba3
Aa3	B1
A1	B2
A2	B3
A3	Caa1
Baa1	Caa2
Baa2	Caa3
Baa3	Ca
	C

Audits

Over the past 20 years of financial audits
- 14 clean audits
- Only 6 financial audit findings
  - (1) 2018/19
  - (1) 2010/11
  - (1) 2009/10
  - (1) 2008/09
  - (1) 2005/06
  - (1) 2004/05

Takeaways:

Sound financial processes
Knowledgeable/Experienced financial staff