HomeMy WebLinkAbout3.a. Acknowledgement of Award of Certificate of Achievement for Excellence in Financial Reporting � ROSEMQu� EXECUTIVE SUMMARY
CITY COUNCIL
City Council Regular Meeting: November 18, 2014
AGENDA ITEM: Acknowledgement of Award of Certificate AGENDA SECTION:
of Achievement for Excellence in Acknowledgments
Financial Reportin
PREPARED BY: Jeff May, Finance Director AGENDA NO.
.� .
ATTACHMENTS: Certificate Award, Notification Letter APPROVED BY:
RECOMMENDED ACTION: No action necessary.
For the eighteenth consecutive year, the Government Finance Officers Association has awarded the City
of Rosemount a Certificate of Achievement for Excellence in Financial Reporting. The award recognizes
the City's comprehensive annual fmancial report for the fiscal year that ended December 31, 2013. The
report was accepted by the Ciry Council during its regular meeting on June 3, 2014.
The Associarion describes the Certificate as "the highest form of recognirion in governmental accounting
and financial reporting and its attainment represents a significant accomplishment by a government and its
management." An impartial panel judged the City's report based on high standards,including the
demonstration of a "spirit of full disclosure" to communicate the City's financial situation to interested
parties. The Associarion,which is a non-pYOfit professional group, says the award has proven to benefit
governments that receive it in areas such as clarity, completeness, and as an aid to marketing securities.
This year's award was Yeceived by Finance Director Jeff May,who will add it to the display visible in the
lobby of City Hall. The award-winning, 82-page report can be downloaded from the City's website on the
Finance Department page.
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Rosemount
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2013
���
Executive Director/CEO
Govcrnment Fi�ancc Officers Association
203 N. LaSalle Street-Suite 2700
Chicago, IL 60601
° Phone(312)977-9700 Fax(312)977-4306
October 21, 2014
Jeffi-ey A. May
Finance Director
City of Rosemount
2875 145th St��eet West
Rosemounl MN55068-4941
Dear Mc. May:
We are plcased to notify you that your comprehensive annual financial report(CAFR) for the fiscal year ended December 31,
2013, qualifies for a Certificate ofAchievement for Excellence in Financial Reporting. The Certificate ofAchievement is the
highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant
accomplishment by a govern�nent and its management.
Each entity submitting a report to the Certificate of Achievement review process is provided with a "Summary of Grading"
form and a confidential list of comments and suggestions for possible improvements in its financial reporting techniques.
Your list has been enclosed. You are strongly encouraged to implement the recommended improvements into the next report
and submit it to the program. If it is unclear wliat must be done to implement a comment or if there appears to be a
discrepancy bet�veen the comment and the information in the CAFR, please contact the Technical Services Center (312)
977-9700 and ask to speak with a Certificate ofAchievement Program in-house reviewer.
Ce►-tific�te of Achievement program policy requires that written responses to the comments and suggestions for improvement
accompa,�y the next fiscal year's submission. Your �vritten responses should provide detail about how you choose to address
each itent that is contained within this report. These responses �vill be provided to those Special Review Committee members
participa�in�� in the review.
Whci� a Ccrtiticate of Achievement is ��rarded to a governme��t, an Award of Pinancial Reporting Acllievement (AFRA) is
also presented to the individual(s) or department designated by the government as primarily responsible for its having earned
the Certit�c�te. As the desigi�ated individual we have enclosed your AFRA.
Continuin�participants�vill find a certificate and brass medallion enclosed with these results. First-time recipients will find a
certificat;� cnclosed with these results followed by a plaque in about 10 weeks. We hope that you will arrange for a formal
presenta?ion of tl�e Certificate and Award of Financial Reporting Achievement, and that appropriate publicity will be given to
this notable achievement. A sample uews release has been enclosed. We suggest that you provide copies of it to local
ne�vspapc�-s, radio stations and television stations. In addition, details of recent recipients of the Certificate of Achievement
and other inCorm�ition about Certificate Program results are available in the "Awards Program" area of our website,
�VW�V.bf(lil.Olb.
A curcent holder of a Certificate of Achievement may include a reproduction of the award in its immediately subsequent
CAFR. A camera ready copy of your Certificate is enclosed for that purpose. If you reproduce your Certificate in your next
report, plcase refer to the enclosed instructions. A Certificate of Achievement is valid for a period of one year. To continue
to particip��te in the Certificate ofAchievement Program it will be necessary for you to submit your next CAFR to our review
process.
In order t�� cspedite your submission we have enclosed a Certificate of Achievement Program application form to facilitate a
timely submission of your next report. Tllis form should be completed and sent (postmarked) with three copies of your
report, thrcc copies of your application, tl�ree copies of your written responses to the program's comments and suggestions for
improvemcnt from the prior year, and any other pertinent material with the appropriate fee by June 30, 2015.
Your continued interest in and support of the Certificate of Achievement Program is most appreciated. If we may be of any
further assi,tance, please contact Delores Smith (dsmith@gfoa.org or(312) 578-5454).
Sincerely,
Governmcnt Finance Officers Association
�." `t�.,� G�.��
�
Stephen J. Gauthier, Director
Technical Scrvices Center
SJG/ds