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Home My WebLink About5.a. Certificate of Achievement for Financial Reporting 20011 CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION 1 CITY COUNCIL MEETING DATE: February 20, 2003 AGENDA ITEM: Certificate of Achievement for Financial Reporting AGENDA SECTION: Department Heads Report PREPARED BY: Jeff May, Finance Director AGEN t' 5 ATTACHMENTS: Copy of News Release APPROVED BY: The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition for excellence in state and local government financial reporting. This is the sixth consecutive year that the City of Rosemount has received the award. The Certificate of Achievement is something that is looked at favorably by outside agencies when reviewing the financial condition of the governmental agency. The Government Finance Officers Association (GFOA) is the approving agency that has given the Certificate of Achievement for Excellence in Financial Reporting for the year 2001 to the City of Rosemount. RECOMMENDED ACTION: None required COUNCIL ACTION: r t NEWS RELEASE The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Rosemount by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual 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 Jeffrey A. May, the City's 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 full 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 14,000 government finance professionals with offices in Chicago, Illinois, and Washington, D.C.