Welcome to the Department of Finance Web Site

On the Department of Finance Web site you will find current and archived budgets, capital improvement programs, economic updates and other related information. I hope you find this site useful.

-- Dwight Dively, Director
dwight.dively@seattle.gov
(206) 684-5212

Department Mission

The Department of Finance is responsible for developing and monitoring the budget, issuing and managing debt, establishing financial policies and plans, and implementing overall financial controls for the City. The department also oversees policy on City taxes, investments, accounting and related activities.

How the Department of Finance Addresses the Mayor's Priorities

Build Strong Families and Healthy Communities

Designing successful ballot measures. The Department of Finance designed the ballot measures for three recent successful levies. The Fire Facilities and Emergency Response Levy was passed in 2003, the Families and Education Levy was passed in September 2004 and the Bridging the Gap Levy was passed in November 2006. The $167 million, nine-year Fire Levy is rebuilding or renovating 32 neighborhood fire stations and support facilities throughout Seattle. The $116 million, seven-year Families and Education Levy is funding programs that demonstrate they improve academic performance. The $365 million, nine-year Bridging the Gap will address the City’s mounting transportation problems and create a strong foundation for Seattle’s transportation future by reducing the infrastructure maintenance backlog by approximately half and investing in major transportation projects.

Create Jobs and Opportunities for All

Top credit rating. Thanks to the City's strong financial management practices, Seattle continues to earn the highest credit ratings possible on its limited-tax general obligation bonds. These high credit ratings mean Seattle, one of the only large cities to win these coveted ratings, saves on interest expenses when it issues bonds. The City earned these ratings in the last few years as a result of good financial management, a broad base of revenues, and the region's diversified economy. Seattle has also received ratings upgrades for its electric and solid waste utilities in the last year.

Utility rate review. The Department of Finance reviews and advises the Mayor on all utility rate proposals to ensure rate packages strike a balance between covering a utility's costs today and investing in its long-term success. The Department of Finance works closely with utility staff, the Mayor and the City Council to establish financial goals, determine cost of service and ensure proper cost allocation so that rates and general policies strike an appropriate balance among long-range objectives and immediate needs.

Last updated: October 11, 2007