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MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br />DATE: <br /> <br />Pat Klaers, City Administ~ <br /> <br />December I 0, 2001 ~ <br /> <br />SUBJECT: GFOA Finance Award <br /> <br />Item 5.1. <br /> <br />It is with great pleasure that I notify the City Council that the city of Elk River has received <br />the Certificate of Achievement (COA) for Excellence in Financial Reporting for the 2000 <br />Fiscal Year. The COA plaque acknowledging this award will be received in about two <br />months. <br /> <br />The COA is a prestigious national award recognizing conformance with the highest <br />standards for preparation of state and local government financial reports. In order to award <br />a COA, the governmental unit must publish an easily readable and efficiently organized <br />Comprehensive Annual Financial Report (CAFR) whose components conform to program <br />standards. The CAFR must satisfy both generally accepted accounting principles and <br />applicable legal requirements. The COA is valid for a one year period. The city of Elk River <br />has received the COA for twelve consecutive years ending December 31, 2000. <br /> <br />This item is on the agenda as information only and no action is necessary from the City <br />Council except to acknowledge receipt of the award. The city receiving this award is due to <br />the efforts of the entire finance department staff including: Joan Frick, Sr. Accounting Clerk; <br />Lauren Wipper, Payroll Clerk; Lori Ziemer, Assistant Finance Director; and Lori Johnson, <br />Finance Director. Responsibility for preparation of the CAFR lies with Lori Ziemer and Lori <br />Johnson. A StarNeuas "photo opportunity" of the entire department will hopefully take place <br />once the plaque has been received. <br /> <br />Attached is some COA information including a news release and some pages from the <br />booklet that was provided to the city. <br /> <br /> <br />