HomeMy WebLinkAbout2010-02-03 PACKET 02.A.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 2 -3 -10
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT STAFF AUTHOR
COUNCIL ACTION REQUEST
Receive the Certificate of Achievement for Excellence in Financial Reporting for the 2008
Comprehensive Annual Financial Report
STAFF RECOMMENDATION
Receive the Award
BUDGET IMPLICATION
BUDGETED AMOUNT ACTUAL AMOUNT
SUPPORTING DOCUMENTS
® MEMO /LETTER:
❑ RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
® OTHER: Certificate and press release
ADMINISTRATORS COMMENTS
City Administrator Date
COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED OTHER
City of • ,•- Grove
Finance Department
TO: Honorable Mayor and City Council
Ryan Schroeder, City Administrator
FROM: Robin Roland, Finance Director .j
DATE: February 3, 2010
RE: Certificate of Achievement in Financial Reporting
Background
The Finance Department participates in the Governmental Finance Officers' Association
(GFOA) Certificate program for the City's financial statements. Participating in the program
requires complete and understandable financial statement presentation and disclosure. The
City has participated in the program since 1990 and has received the award for 19 consecutive
years.
This award is nationally recognized as the premier indicator of excellence in governmental
financial administration and reporting. To earn this award the City submits an annual financial
report that goes well beyond the minimum requirements of generally accepted accounting
principles, legal disclosure, and communication efforts. This award was evaluated by an
impartial panel of government finance officers, independent certified public accountants,
educators, and professional staff of the Government Finance Officers Association.
The City's 2008 Comprehensive Annual Financial Report was submitted to the GFOA and has
been awarded the certificate of achievement for excellence in financial reporting. The award is
valid for one year.
The certificate of achievement would not have been possible without the continued efforts of
the entire Finance Department, and especially Brenda Peper, Finance Analyst, Cathy Mohr,
Accountant and Jesse Swenson, Management Analyst for their efforts in preparation of the
Comprehensive Annual Financial Report.
Requested Action
Receive the Certificate of Achievement for Excellence in Financial Reporting for the 2008
Comprehensive Annual Financial Report.
Government Finance Officers Association
203 N. LaSalle Street - Suite 2700
Chicago, IL 60601
Phone (312) 977 -9700 Fax(312)977-4806
12/29/2009
NEWS RELEASE
For Information contact:
Stephen Gauthier (312) 977 -9700
(Chicago) - -The Certificate of Achievement for Excellence in Financial Reporting has been
awarded to City of Cottage Grove by the Government Finance Officers Association of the United
States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate
of Achievement is the highest form of recognition in the area of governmental accounting and
financial reporting, and its attainment represents a significant accomplishment by a government
and its management.
An Award of Financial Reporting Achievement has been awarded to the individual(s),
department or agency designated by the government as primarily responsible for preparing the
award - winning CAFR. This has been presented to:
Brenda Peper, Acting Finance Director
The CAFR has been judged by an impartial panel to meet the high standards of the program
including demonstrating a constructive "spirit of frill disclosure" to clearly communicate its
financial story and motivate potential users and user groups to read the CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government
finance professionals with offices in Chicago, IL, and Washington, D.C.
M •
Presented to
City of Cottage Grove
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2008
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.