For the fourth year in a row, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement to the City of Mountlake Terrace for Excellence in Financial Reporting for its 2009 Comprehensive Annual Financial Report (CAFR).

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

“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 remarked, recognizing the support of Executive Administrative Assistant Leslie Choate, City Treasurer Mick Horton, and Financial Technicians Terri MacIsaac, Myrna Osborne, Terry Strausser and Dana Volk. Caulfield also acknowledged the significant contribution to the financial report made by the State Auditor’s Office.

The City of Mountlake Terrace is one of only about 33 cities in Washington State to receive a certificate and is only one of 21 cities statewide to receive certificates for both the CAFR and the Distinguished Budget Award from GFOA. Only 5% of cities nationwide (1,809 of 36,010) receive the award. The preparation of the city’s 2010 CAFR is currently underway and expected to be completed later this summer.

(Image: Money, a Creative Commons Attribution Non-Commercial (2.0) image from thomashawk’s photostream)