Attachment_GFOA Certificate of Achievement0
CITY OF
se o
MINNESOTA
DATE: 4 June 2014
MEMORANDUM
TO: Mayor Stockamp and City Council Members
Lori Johnson, City Administrator
FROM: Daniel Jordet, Administrative Services Director
RE: 2012 Certificate of Achievement
The 2012 Comprehensive Annual Financial Report (CAFR) was submitted to the Government Finance
Officers Association (GFOA) for review in application for the Certificate of Achievement of Excellence in
Financial Reporting. After thorough review by a committee of GFOA staff and members, the Certificate
was awarded to Otsego for the 2012 report. This is significant in that this is the first receipt of the
Certificate by the City for its first full CAFR.
The Certificate affirms that the CAFR is written and assembled in conformance with generally accepted
accounting principles, governmental accounting guidelines and regulations, and legal conformance with
State of Minnesota requirements. It assures financial statement users that the information presented in
the CAFR is presented in form and substance in a clear and straightforward manner that can be
interpreted by users consistently across governmental units.
The Certificate of Achievement does not signify whether the City is in healthy financial condition. That
judgment is reserved for the City Council of each city receiving the Certificate. Review of the CAFR
exhibits and schedules with staff and comparison of the CAFR results with plans and goals of the City
are the indicators of financial health. The Certificate indicates that the data being reviewed conforms to
standard reporting expectations and disclosure rules.
Those involved in producing the 2012 CAFR should be recognized and commended for their work in
achieving this singular recognition. They include the members of the Finance Staff; Gary Groen, Kathy
Grover, Susan Frisch and Mary Olson. Andrew Berg and the staff of Abdo, Eick and Myers, the City's
auditors contributed to this effort. Finally, the Mayor and City Council should be recognized for
establishing the standards to be followed in financial reporting for the City of Otsego. Congratulations
to all.
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Otsego
Minnesota
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2012
Executive Director; CEO