LYNNWOOD – The city of Lynnwood will get a second opinion on its finances.
The City Council voted 7-0 Monday to hire an outside firm to audit its budget and financial situation.
The city’s latest projection puts it as much as $5 million in the hole by the end of 2010 compared to its budget. The city made several adjustments last year in its two-year, 2009-2010 budget as sales-tax revenues consistently lagged behind budgeted projections.
“The council is at a point where we feel we need someone independent of the city” to review the administration’s books, said Councilman Mark Smith, who made the motion for the audit.
The measure approved Monday calls for the council to review and select a financial firm for the work at the council’s meeting on March 22.