5.4. SR 01-23-1995 - Laserfiche WebLink

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rl-\) ( ); ~lil ITEM 5.4. MEMORANDUM River TO: Mayor & City Council FROM: Pat Klaers, City Administrator DATE: January 23,1995 SUBJECT: Finance Award It is with great pleasure that I notify the City Council that the City of Elk River has received the Certificate of Achievement for Excellence in Financial Reporting for the 1993 fiscal year. A plaque will be received within the next two months. Once this plaque acknowledging the Certificate of Achievement is received by the City, a formal Mayor presentation to the Finance Director is planned. In this manner, a "photo opportunity" will hopefully happen and appropriate recognition for the Finance Department and our City Finance Director, Lori Johnson, can take place. e Attached is some information relating to the Certificate of Achievement (COA). The attachments include a letter to the Mayor, a certificate, a news release, and some information from a booklet that was provided to the City that shows which governmental units in Minnesota have received the certificate, along with some data about Minnesota as compared to all of the United States. The COA is a prestigious national award recognizing conformance with the highest standards for preparation of State and local government financial reports. In order to be awarded a COA, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report whose components conform to program standards. Such comprehensive annual financial reports must satisfy both generally accepted accounting principals and applicable legal requirements. A COA is valid for a period of one year. The City of Elk River has received a COA for the last five (5) consecutive years ending on December 31, 1993. Finance Director Lori Johnson is the individual that is primarily responsible for having the City earn this certificate. It is also appropriate to acknowledge the work of the Finance Department staff as they have assisted Lori in the background work needed in order to receive this award. e I t is interesting to note that in 1989, of the approximately 850 cities in Minnesota, the City of Elk River was one of only 48 that received this award. In 1993, the City of Elk River is one of 69 cities in Minnesota to receive this award. Accordingly, it can be seen that the importance of achieving this award has been emphasized throughout Minnesota 13065 Orono Parkway · P.O. Box 490. Elk River, MN 55330. (612) 441-7420. Fax: (612) 441-7425