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A screen shot of the 2019 PAFR

Download the 2019 Popular Annual Financial Report

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The Popular Annual Financial Report (PAFR) is an easy to read version of the County's Comprehensive Annual Financial Report (CAFR) designed to provide citizens with an overview of the County's revenues, expenditures, and other general information. It is primarily a graphical representation of the financial and statistical information contained in the CAFR. Though the PAFR is not audited, its financial content is derived from the County's audited CAFR.

The PAFR, recognized for outstanding achievement by the Government Finance Officers Association (GFOA) eight years in a row, provides an overview of the County’s financial condition, analyzing where revenues come from and how tax dollars are spent.

Link/share our site at www.kingcounty.gov/PAFR

NOTE: Documents on this page are in PDF format. To request a document in an alternate format, email Eben Sutton.


PAFR archive for historical reference with select financial highlights for that year
King County 2018 Popular Annual Financial Report

2018 Popular Annual Financial Report

The Popular Annual Financial Report (PAFR) is an easy to read version of the County's Comprehensive Annual Financial Report (CAFR) designed to provide citizens with an overview of the County's revenues, expenditures, and other general information. It is primarily a graphical representation of the financial and statistical information contained in the CAFR. Though the PAFR is not audited, its financial content is derived from the County's audited CAFR.

The PAFR, recognized for outstanding achievement by the Government Finance Officers Association (GFOA) eight years in a row, provides an overview of the County’s financial condition, analyzing where revenues come from and how tax dollars are spent.

En español

2018 Informe financiero anual popular (PAFR)
2018 Informe financiero anual popular (PAFR)

Informe financiero anual popular (Popular Annual Financial Report, PAFR) del condado de King para el año fiscal 2018. El PAFR proporciona un resumen detallado de los asuntos económicos del condado de King y un panorama sobre la manera en la que prestamos servicios a los residentes, incluidos los triunfos y los desafíos a medida que transitábamos en el cambiante clima económico, social y político de 2018.

2017 Popular Annual Financial Report

In 2017, King County accomplished goals delivered on its shared commitments to creating a more just, equitable community where all people can achieve their full potential including:

  • Making food safety ratings more accurate, consistent and transparent
  • Connecting more young people to opportunities with the successful ORCA summer program
  • Uniting more cats and dogs with forever families, building on the successful transformation of regional animal services
  • Preventing youth and family homelessness, delivering on the promise of Best Starts for Kids
  • Demonstrating the County's commitment as an inclusive, welcoming community:
  • Leading the nation in the transition to batterypowered buses
  • Establishing the County as a global leader in in the fight against HIV/AIDS
2016 Popular Annual Financial Report

King County’s economy is growing because of the unique and diverse composition of businesses in the region. The County unemployment rate in 2016 was 3.9 percent, which was less than the 5.4 percent unemployment rate for Washington State. Two prominent employers of the region, Starbucks and Microsoft, retain strong demand for their products and homegrown online retailer Amazon.com has continued to add employees.

2015 Popular Annual Financial Report

Economic factors have a direct impact on the County's revenues and the demand for its services. County revenue sources are sensitive to the performance of both regional and local economies, particularly on income, employment, market valuation, investment and inflation; which directly influence property tax assessments, retail sales, and real estate transactions. King County's economy is growing due to improvements in the global and national economic outlook and because of the unique composition of businesses in the region, which attract many new job seekers. As a result, it has one of the fastest growing metropolitan areas in the country. The County unemployment rate in 2015 was 4.3 percent which was less than the 5.5 percent unemployment rate for Washington State.

2014 Popular Annual Financial Report

The County’s government-wide assets, deferred outflows of resources, liabilities, deferred inflows of resources, and net position as of December 31, 2014 are listed on page 6 of the document linked above. The $221 million increase in the County's total net position in 2014 resulted from revenues exceeding related expenses and reflects the ability of the County to meet principal and interest payments on borrowing and other obligations as they come due.

2013 Popular Annual Financial Report

The County's economy continued to prosper in 2013 led by job growth, low inflation, an unemployment rate that is lower than the State's, median housing price recovery and a late surge in new housing construction. Like most of the nation's large counties, King County has rebounded quickly from the recent recession because of improvements in the global and national economies, the strength of local businesses, and the diversity of its industries.

Significant accomplishments during 2013 included: enrollment of a record number of uninsured residents in affordable health care; increasing veterans' access to benefits; protection of forest lands; securing of levies for emergency medical services and parks; the creation of a new department of public defense, further deployment of RapidRide buses and routes, and construction of a modern transfer station.

2012 Popular Annual Financial Report

In 2012, King County operated on a budget that emphasized proactive reform of government while continuing to provide basic services to protect the most vulnerable among its citizens. The County maintained a balanced budget through sensible program cuts and consolidations and the active promotion of fiscal restraint by challenging County agencies to find three-percent efficiency savings. The expected cost reductions from the healthy incentives program also has started being realized. These prudent measures afforded the County to manage without tapping into any of its reserves including the Rainy Day Fund,

2011 Popular Annual Financial Report

The year 2011 showed signs of a broad-based economic recovery manifested in strong retail sales which boosted the County's sales tax revenues following three years of negative growth. The resurgence of the private sector and government stimulus efforts is helping to sustain the recovery but consumer confidence remains weak due to uncertainty here and abroad.

The presence of vibrant companies in the county, such as Boeing and Microsoft and the diverse work force that they lure in, has tempered the recessionary impacts on unemployment - the 2011 unemployment rate in the County is lower than at both the state and federal levels. The main weakness in the County's economy is still the housing sector, where home values continue to fall due to foreclosures and new construction remains stifled by the surplus inventory.

2010 Popular Annual Financial Report

King County's economy during 2010 followed the national script of a slow and guarded recovery from the recession of 2007-9. Unemployment has only slightly improved from the recent highs while residential and commercial property values have continued to correct. The weak economy cut further into the County's ability to grow its revenues.

Sales and use taxes showed a slight decline from the previous year overall while property taxes grew more slowly than expected. The County forecasts a moderate increase in the sales and use tax base of about 4-5 percent per year in the next five years, but also projects slow increases in property assessed values through 2013 until the oversupply of housing and commercial buildings is eliminated.

2009 Popular Annual Financial Report

Economic conditions in the King County region went from bad to worse during 2009 as unemployment went over 8 percent, home values continued to fall, and the commercial real estate sector deteriorated. The downturn cut further into the County's ability to grow its revenues which were already constrained by the taxing limits relative to the growth in service costs. Sales and use tax revenues declined overall while property tax revenues grew slower than expected. Impacts on tax-supported funds were profound, particularly in the General Fund, which closed a $93-million deficit in the 2009 budget.