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5 Minutes CASE ~2: <br /> <br /> R~CEIVE ¢~FICATE (~ ~ <br />By~ Dave ~r%ley, City ]~mini~rator <br /> <br />Background <br /> <br />Each year the City prepares an anuual report on the operations during the year <br />and the financial positions as of the year end on December 31st. The report is <br />audited by the City's independent auditor and their opinion on the report is <br />included therein. <br /> <br />Since year er~ 1981, the City ~.~as su~itted the annual report to the Certificate <br />of Achievement Program sponsored by the Government Finanoe Offioers Association. <br />Under the program~ the report is reviewed by an impartial panel to determine if <br />the report will c(~ply with t~b~%ic~%l financial reporting requir~ents. Program <br />requir~nents included demonstr~tJ~g a constructive 'spirit of full disclosure' <br />so as to clearly oommunicate tt~e financial story of the City and to motivate <br />persons and groups to read tile ar~-~ual report. <br /> <br />After reviewing a report~ the ~.anet may issue a Certificate of Achievement to <br />the City if the report h~s be. er~ judged to comply with the program requirements. <br />The Certificate ~ Achievement is the highest form of recognition in the area <br />of government financial] repo{ting, and the attainment of the certificate <br />represents a significant accomplis~t. When a certificate is awarded to a <br />government, an award of Financial Reporting Achievement is also given to the <br />individual designated as pri>narily responsible for its having earned the <br />certificate. <br /> <br />Enclosed for your information i~s a letter dated December 10, 1986 from the <br />Goverr~ent Finan~~. Offioers Association. <br /> <br />O~se rvations: <br /> <br />In December 1986, the City was notified that the December 31, 1985 Ccmprehensive <br />Annual Financial Report for the City was reviewed by the Government Finance <br />Officers Association and wins awarded the Certificate of Achievement. The award <br />is valid for one year. This represents the fifth consecutive year the City has <br />received the a~ard. <br /> <br />The plaque s~)uld be re~.~ived ~ f ~he City in February. <br /> <br />]~tion: <br /> <br />Counc]_l should note the receivJ ag of the a~ard and should also note the Award <br />of Financial Ret~)rting Achievement presented to Noel J. Graczyk, Finance <br />Offioer. <br /> <br />Chief of Police <br />Finance Officer <br />Public Works Superintendent <br />Other <br /> <br />X <br /> <br /> <br />