4.6. SR 12-05-2011REQUEST FOR ACTION
TO ITEM NUMBER
Ma or and Ci Council 4.6.
AGENDA SECTION MEETING DATE PREPARED BY
Consent December 5, 2011 Tim Simon, Finance Director
ITEM DESCRIPTION REVIEWED By
Acceptance of the Certificate of Achievement for Excellence in Cal Portner, Ci Administrator
Financial Reporting for the 22"d Consecutive Yeax REVIEWED BY
ACTION REQUESTED
Acceptance of the Certificate of Achievement for Excellence in Financial Reporting.
BACKGROUND/DISCUSSION
The City of Elk River has once again received the Certificate of Achievement for Excellence in Financial
Reporting for the 2010 fiscal year. The Certificate of Achievement is a prestigious national award
recognizing performance with the highest standards fox preparation of state and local government
financial reports. The city was one of a few cities to implement Governmental Accounting Standards
Statement 54 early for the 2010 financial statements. The City of Elk River has received the Certificate of
Achievement for 22 consecutive years.
FINANCIAL IMPACT
N/A
ATTACHMENTS
Award Of Financial Reporting Achievement
News Release
Action Motion by Second by Vote
FOllow Up
P/MER€® Btu
N:\Public Bodies\Ciry Council\Finance\Tim\2011\certificateofexcelleance2010fs.docx
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Government Finance Officers Association
203 N. LaSalle Street -Suite 2700
Chicago, IL 60601
Phone (312) 977-9700 Fax (312) 977-4806
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11/16/2011
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 Elk River 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:
Finance Department, City of Elk River
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 17,500 government
finance professionals with offices in Chicago, IL, and Washington, D.C.