HomeMy WebLinkAboutItem 3.3 AwardFinancialReporting
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CITY OF DUBLIN
AGENDA STATEMENT ,c,e, ~
CITY COUNCIL MEETING DATE: september 27, ~
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Recognition of Award To City of Dublin For Excellence
\\. in Financial Reporting
()l' (prepared by: Paul S. Rankin, Assistant city Manager)
EXHIBITS ATTACHED: Copies of the certificates
RECOMMENDATION: f~ecei ve the awards.
SUBJECT:
DESCRIPTION: For the past three years the city of Dublin has
submitted its Comprehensive Annual Financial Report (CAFR) to the
recogni tion programs supported by Government Finance Associations. The
CAFR includes the financial information contained in the annual audit. The
report covering the period ending June 30, 1992 has been recognized by the
California Society of Municipal Finance Officers (CSMFO) and the Government
Finance Officers Association of the United States and canada (GFOA).
Both programs have established standards and guidelines for the
presentation of the financial information. In addition, practitioners
review the reports and identify areas which need to be improved. The GFOA
Certificate of Achievement is a prestigious national award recognizing
conformance with the highest standards for preparation of local government
financial reports. The goal is to recognl.ze efforts made by government
agencies to produce easily readable and efficiently organized financial
reports.
This recognition also provides added credibility to the city's reports when
they are reviewed by members of the financial community. When the city
refl.nanced the Civic Center Certificates of Participation, the rating
agencies were able to see that the financial records were prepared in a
format consistent with national standards. This can be helpful in
maintaining a good credit rating, which reduces the cost of borrowing.
This is the third consecutive year that the City of Dublin has been
recognized for Excellence in Financial Reporting.
ITEM NO.
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COPIES TO:
I
CITY CLERK
FILE ~.
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Certificate of
Achievement
for Excellence
. in Financial
Reporting
Presented to
City of Dublin,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30,' 1992
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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President
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Executive Director
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