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Item ~ 5.2. <br /> <br />f,'IEf,'IORANDUI I <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br />DATE: <br /> <br />Pat Klaers, City Admini,s~,ator <br />December 22, 2003 <br /> <br />SUBJECT: Government Finance Officers Association (GFOA) Finance Award <br /> <br />I am very pleased to once again notify the City Council that the City of Elk River has received the <br />Certificate of Achievement (COA) for excellence in financial reporting for the 2002 fiscal year. A <br />COA plaque acknowledging this award will be received in the near future. <br /> <br />The COA is a prestigious national award recognizing performance with the highest standards for <br />preparation of state and local government financial reports. In order to achieve a COA, the <br />governmental unit must publish an easily readable and efficiently organized comprehensive annual <br />financial report (CAFR) whose components conform to program standards. The CAFR must satisfy <br />both generally accepted accounting principals and applicable legal requirements. The COA is valid <br />for a one-year period. The City of Elk River has received the COA for 14 consecutive years ending <br />December 31, 2002. <br /> <br />The city receiving this award is due to the efforts of the entire finance department including Joan <br />Frick, Senior Accounting Clerk; Lauren Wipper, Payroll Clerk; Denise Cully, Accounting Clerk (PT); <br />Lori Ziemer, Assistant Finance Director; and Lori Johnson, Finance Director. Responsibility for <br />preparation of the CAFR lies with Lori Ziemer and Lori Johnson. <br /> <br />This item is on the agenda for information only and no action is necessary from the City Council. <br />Attached is COA information including a news release and some pages from the booklet that was <br />provided by the GFOA. <br /> <br />S:~Council~Pat~2003\GFOAaward.doc <br /> <br /> <br />