6.1. SR 06-06-2016 - Laserfiche WebLink

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Major Initiatives In 2015, the city sold three lots in Natures Edge Business Park to Sportech, Inc., Morrell Transfer, and GATR Truck Center to build new facilities. The city completed the Gravel Mining Area Study to shape the future of this highly developable 2,600 -acre segment along US Highway 169. The city implemented a long-term funding plan for our storm water management needs with the creation of a new Enterprise fund financed by user charges to comply with increased requirements for new storm water regulations. 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, 2014. This was the 26th 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, 2015. It was the 7th 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 market changes. Respectfully submitted, s s Timothy Simon Finance Director -7-