Item Coversheet
 ITEM: 5.B.
COUNCIL MEETING DATE:
April 28, 2016
SECTION:Regular Agenda
Description:
Receive Certificate of Achievement for Excellence in Financial Reporting for 2014
Staff Contact:
Ron Hedberg, Finance Director
Department / Division:
Finance Department

ACTION REQUESTED:

Receive Certificate of Achievement for Excellence in Financial reporting for 2014.  No formal action required. 

  

SUMMARY:

The City of Apple Valley was recently awarded the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) for the City’s 2014 annual financial report, the fourth consecutive year. Michelle Pietrick, a representative from the MN GFOA will be attendance to present the award.

 

BACKGROUND:

The City of Apple Valley has participated in the Certificate of Achievement for Excellence in Financial Reporting program through the Governmental Finance Officers Association for the past four years.

 

I am proud to announce that the City of Apple Valley has been awarded the Certificate of Achievement for Excellence in Financial Reporting from the Governmental Finance Officers Association for our 2014 annual financial statements.

 

To earn this award, the City of Apple Valley had to conform to the GFOA program's demanding criteria, which go well beyond the minimum requirements of Generally Accepted Accounting Principles.  The receipt of this award reflects a high degree of dedication and leadership on the part of the City Council.

 

As part of the process our financial statements were reviewed by an impartial panel of government finance officers, independent Certified Public Accountants and other professionals with expertise in governmental accounting and financial reporting.  Only those reports that are judged by all reviewers to have met the program’s criteria are awarded the Certificate of Achievement for excellence in financial reporting.

 

This certificate of achievement would not have been possible without the efforts of the entire Finance Department, and especially Assistant Finance Director Cathy Broughten.


BUDGET IMPACT:

There are no direct financial impacts from participation in the program.
 
ATTACHMENTS:
Type
Exhibit