HomeMy WebLinkAboutItem 3.2 ExcellentFinRptng (2)
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: January 9, 1995
SUBJECT: Recogni tion of Award To Ci ty of Dublin For Excellence
"J.. in Financial Reporting
~ (Prepared by: Paul S. Rankin, Assistant City Manager)
EXHIBITS ATTACHED: Copies of the Certificates
RECOMMENDATION: if Receive the awards.
DESCRIPT.ION: For the past four years the City of Dublin has
submitted its Comprehensive Annual Financial Report (CAFR) to the
recogni tion programs supported by State and National Government Finance
Associations. The CAFR includes the financial information contained in the
annual audit plus additional descriptive materials and local statistics.
The report covering the period ending June 30, 1993 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
presen ta tion of the financial inforrna tion . In addition, practi tioners
review the reports and identify areas which need to be improved. The CSMFO
Award contained no "Reviewer Conrrnents". The conrrnents made by GFOA were
relatively minor and did not identify any major deficiency.
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 recognize 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 connnuni ty. This can be
helpful in maintaining a good credit rating, which reduces the cost of
borrowing. The Award programs also provide an additional opportunity for
third party review of City reports to identify potential improvements.
This is the fourth consecutive year that the City of Dublin has been
recognized for Excellence in Financial Reporting. Staff has submitted the
1994 Annual Financial Report to the organizations for consideration.
----------------------------------------------------------------------
COPIES TO:
CITY CLERK
FILE~
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Certificate of
Achievell1ent
for Excellence
in Financial
Reporting
Presented to
City of Dublin,
California
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1993
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.
~~~
President
jJf/?/M
Executive Director