City of MLT receives award for excellence in financial reporting

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The City of Mountlake Terrace was awarded a Certificate of Achievement for Excellence in Financial Reporting for its 2011 Comprehensive Annual Financial Report (CAFR) by Washington Finance Officers Association (WFOA) President Marilou Moore at City Council’s July 1 meeting.

This is the sixth year in a row that the Government Finance Officers Association of the United States and Canada (GFOA) has recognized the city for its CAFR.

“This award, along with our Distinguished Budget Award, further illustrates the city’s commitment to the highest financial integrity and reporting for its citizens,” said City Manager John Caulfield. “It also demonstrates the city’s effectiveness in managing its financial resources during one of the most difficult economic times in several generations including a balanced budget and proactive strategies starting in 2008.”

Caulfield gave high praise to the city’s entire Finance Department, which is under the leadership of Assistant City Manager Scott Hugill and Finance Director Sonja Springer. “The CAFR represents months of concerted teamwork,” Caulfield said. He also recognized the support of the city’s Management Analyst Leslie Choate and Financial Technicians Mick Horton, Terri MacIsaac, Myrna Osborne, Terry Strausser and Dana Volk, as well as the significant contribution made by the State Auditor’s Office.

The City of Mountlake Terrace is one of only 36 cities in Washington State to receive a certificate and is one of only 22 cities statewide to receive certificates for both the CAFR and the Distinguished Budget Award from the GFOA. Only about 5.2 percent of cities nationwide receive the award.

The 2012 CAFR was recently completed and sent to GFOA for consideration for a Certificate of Achievement.

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