Title
Presentation of Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended September 30, 2011.
Summary
The City of Pflugerville has been awarded the Certificate of Achievement for Excellence in Financial Reporting for its fiscal year 2011 Comprehensive Annual Financial Report (CAFR). This marks the eighth consecutive year the City has received this award from the Government Finance Officers Association of the United States and Canada. 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 a government and its management. The CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
Fiscal Impact
The information provided in the CAFR is favorably received by the bond rating agencies which can reflect on the City's rating and subsequently its bond interest rate.
Staff Recommendation
Present the award.
Drafter
Beth C. Davis
Finance Director