6.2. SR 06-02-2014 - Laserfiche WebLink

Home Browse Search

Fund budget. The City does not expect in the short-term to see LGA and MVHC amounts restored to previous year's levels. Major Initiatives In 2013,the city completed construction of phase I of the 171'Avenue Focus Area Study,opening Natures Edge Business Center. The project involved extending municipal streets and utilities to serve a new 28-acre business park. The city also initiated an update to our comprehensive and parks master plans,these strategic initiatives will provide direction about future growth of the city. The city also implemented a long-term funding plan for our pavement management program to ensure funding exists for scalcoating,overlay and reconstruction maintenance projects. In addition,Elk River's Northstar Station continues to have the largest ridership numbers along the rail line that runs from Minneapolis to Big Lake. Awards and Acknowledgements The Government Finance Officers Association of the United Stated and Canada(GFOA)awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Elk River for its Comprehensive Annual Financial Report for the fiscal year ended December 31,2012. This was the 24th consecutive year that the City has received this prestigious award. In order to be awarded a Certificate of Achievement,a government must publish an easily readable and efficiently organized Comprehensive Annual Financial Report.This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. The City received the GFOA Award for the Distinguished Budget Presentation for the City budget for the fiscal year beginning January 1,2013. It was the 5t'consecutive year the City received the award for the document. The preparation of this report is made possible by the efficient and dedicated services of the entire staff of the city administrator's office and Finance Department. The Mayor and City Council are to be commended for their diligence and resolve in keeping the City in sound and stable financial condition. The City Council's commitment to continually plan for the City's future and dedication to maintain high financial standards has helped the City maintain its strong financial condition during a long period of growth and subsequent slowdown. Respectfully submitted, Timothy Simon Finance Director 3