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~ity of <br /> <br />iver <br /> <br />ITEM 7.1. <br /> <br />MEMORANDUM <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br />Pat Klaers, City Adminis~r/~/ <br /> <br />January 21, 1997 <br /> <br />GFOA Finance Award <br /> <br />It is with great pleasure that I notify the City Council that the City of Elk <br />River has received the Certificate of Achievement for Excellence in Financial <br />Reporting for the 1995 fiscal year. At the January 21, 1997, meeting, it is <br />scheduled for the Mayor to formally present the plaque acknowledging this <br />achievement to Assistant City Administrator Lori Johnson. Lori is the <br />individual that is primarily responsible for this achievement, however, this <br />achievement could not have been obtained without the full support and work <br />effort of the entire Finance Department. <br /> <br />The Certificate of Achievement is a prestigious national award recognizing <br />conformance with the highest standards for preparation of state and national <br />government financial reports. In order for a city to be awarded a Certificate <br />of Achievement, it must publish an easily readable and efficiently organized <br />Comprehensive Annual Financial Report (CAFR) whose components conform <br />to program standards. Such CAFR must satisfy both generally accepted <br />accounting principles and applicable legal requirements. <br /> <br />The Certificate of Achievement is valid for a period of one year. The City of <br />Elk River has received the Certificate of Achievement for the last seven (7) <br />consecutive years ending December 31, 1995. <br /> <br />Of the approximately 850 cities in Minnesota, the City of Elk River was one <br />of only about 70 cities to receive this award for 1995. <br /> <br />\\elkriver\sysXshrdoc\council\finawrd.doc <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />