6.2. SR 11-02-2015 EOty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 6.2
Agenda Section Meeting Date Prepared by
Presentations,Awards, November 2, 2015 Tim Simon, Finance Director
and Recognition
Item Description Reviewed by
Acceptance of the Certificate of Achievement for Cal Portner, City Administrator
Excellence in Financial Reporting for the 26th Reviewed by
Consecutive Year
Action Requested
Approve,by motion, 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 2014 fiscal year.
The Certificate of Achievement is a prestigious national award recognizing performance with the highest
standards for preparation of state and local government financial reports. The city continues to
implement Governmental Accounting Standards Statement's early in the financial statements.
This is a significant achievement as the City of Elk River has received the Certificate of Achievement for
26 consecutive years.
Financial Impact
None
Attachments
■ Press release
■ Certificate of Achievement for Excellence in Financial Reporting
POWERED 6T
AR
Government Finance Officers.Association
203 N. LaSalle Street- Suite 2700
Chicago, IL 60601
Phone(312)977-9700 Fax(312),977-4806
10/14/2015
NEWS RELEASE For Information contact:
Stephen Gauthier (3 12) 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 coin preliens ive annual financial report (CAFR), rFh, 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 disclosure" to clearly C0111111LInicate its
financial story and ITIOdWlte potential Users and user grOLIPS to read the CAFR,
The GI"-'OA is a nonprofit professional association serving approximately 17,500 government
finance professionals with offices in Chicago, 11, and Washington, D.C.
Governmem Finance Officers Association
203 N. LaSalle Sirect- SUite 2700 OCT 9
Chicago, II_. 60601
111-mic(312,1 977-9700 Fix(3'12}977-4806
October 14, 2015
'rimSimon
Finance Director
City of Elk River-
13065
iver13065 Orono Parkway
Elk I�iver MN55330
Dear Mr. Simon:
We are pleased to notify YOU that your comprehensive annual financial report (CAFR) for the fiscal year ended December 31,
2014, qualifies for a Certificate of Achievement For Excellence in Financial Reporting, The Certificate oil'Achievement is the
highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant
accomplishment by a government 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 what 111LIst be done to implement a comment or if there appears to be a
discrepancy between the comment and the information in the CAFR, please contact the Technical Services Center (312)
977-9700 and ask to speak with a Certificate of'Achievement Program in-house reviewer.
Certificate of Achievement program policy requires that written responses to the comments and suggestions for improvement
accompany the next fiscal year's submission. Your written responses should provide detail about how you choose to address
each itern that is contained within this report. These responses will be provided to those Special Review Committee members
participating in the review.
When a Certificate of Achievement is awarded to as government, an Award of Financial Reporting Achievement (AFRA) is
also presented to the individual(s) or department designated by the government as primarily responsible for its having earned
the Certificate. Inclosed is an AFI�A for:
Finance Department,City of Elk River
Continuing participants will find a certificate and brass medallion enclosed With these NSL[Its. First-time recipients will find a
certificate enclosed with these results followed by a plaque in about 10 weeks. We hope that you will arrange for a formal
presentation of the Certificate and Award of inancial Reporting Achievement, and that appropriate publicity will be given to
this notable achievement, A sample news release has been enclosed, WC suggest that you provide copies of it to local
newspapers, radio stations and television stations. lit addition, details of recent recipients of the Certificate ol'Achievernent
and other information about Certificate Program results are available in the "'Awards Program" area of our website,
www.gfoa.org .
A current holder of a. Certificate of Achievement may include a reproduction of the award in its immediately Subsequent
CAFR. A camera ready copy of)/out- Certificate is enclosed for that put-pose. If You reproduce your Certificate in your next
report, please refer to the enclosed instructions. A Certificate of Achievement is valid for a period of'one year. To continue
to participate in the Certificate ofAcInevernent Program it will be necessary for you to Submit your next CAFR to our review
process.
In order to expedite your submission we have enclosed a Certificate of Achievement Program application form to facilitate a
timely Submission of your next report, This form should be completed and sent (postmarked) with three copies of your
report, three copies of your•application, three copies of your written responses to the program's comments and suggestions for
improvement from the prior year, and any other pertinent material with the appropriate fee by June 30, 2016.
Your continued interest in and support ofthe Certificate of Achievement Prograrn is most appreciated, Ifwe may be of any
farther assistance, please contact Delores Smith (dsmith( 9
,4)gfoa.or or(3 12) 578-5454).
Sincerely,
Government Finance Officers Association
Stephen J. Gauthier, Director.
Technical Services Center
S.IG/ds
AO
Government Finance Officers Association
Certificate of
Achievement
for Excellence
0
in Financial
Reporting
Presented to
City of Elk River
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2014,
Executive Director/CEO