The City of Mountlake Terrace was recently awarded a Certificate of Achievement for Excellence in Financial Reporting for its 2012 Comprehensive Annual Financial Report (CAFR).

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

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by the city, its council, and its management.

“This award along with our Distinguished Budget Award shows the city’s commitment to the highest financial integrity and reporting for its citizens,” said City Manager Arlene Fisher.

Fisher congratulated the city’s Finance Department, which is under the leadership of Finance Director Sonja Springer.

“The CAFR represents months of intensive teamwork,” Fisher said. She 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.

Mountlake Terrace is one of only three cities in Snohomish County and one of only 36 cities in Washington State to receive a certificate. Furthermore, Mountlake Terrace is only one of two cities in Snohomish County and one of 20 cities statewide to receive certificates for both the CAFR and the Distinguished Budget Award from GFOA. Only about 5 percent of cities nationwide receive the award. The preparation of the city’s 2013 CAFR is currently underway and expected to be completed later this summer.