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<br />for fiscal year 2011 is attached and it states that there were no concerns that required communication to <br />the council. <br /> <br />The Government Finance Officers Association of the United States and Canada (GFOA) awarded a <br />Certificate of Achievement for Excellence in Financial Reporting to the City of Eugene for its <br />Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2010. This was the <br />35th consecutive year that the City has achieved this prestigious award. In order to be awarded a <br />Certificate of Achievement, a government must publish an easily readable and efficiently organized <br />CAFR, which satisfies both generally accepted accounting principles and applicable legal requirements. <br />In addition, the requirements for the certificate provide much of the information needed for the City’s <br />credit assessments. <br /> <br />RELATED CITY POLICIES <br />Policy B.1 of the City’s Financial Management Goals and Policies states that “The City will maintain an <br />accounting and financial reporting system that allows reporting in conformance with Generally <br />Accepted Accounting Principles and Oregon Local Budget Law and will issue a Comprehensive Annual <br />Financial Report each fiscal year.” This action signifies formal completion of this process for the fiscal <br />year ended June 30, 2011, and demonstrates council’s compliance with the policy. <br /> <br /> <br />COUNCIL OPTIONS <br />None. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br />The City Manager recommends adoption of the resolution. <br /> <br /> <br />SUGGESTED MOTION <br />Move to adopt Resolution 5050 acknowledging receipt of the Comprehensive Annual Financial Report <br />(CAFR) for the City of Eugene, for the fiscal year ended June 30, 2011. <br /> <br /> <br />ATTACHMENTS <br /> <br /> <br />A.Resolution <br /> <br />B.Copy of the 2011 Comprehensive Annual Financial Report <br /> <br />C.Copy of the Isler CPA memo <br /> <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Fionan Cronin <br />Telephone: 541-682-5394 <br />Staff E-Mail: finn.j.cronin@ci.eugene.or.us <br /> <br /> <br />S:\CMO\2012 Council Agendas\M120109\S1201093C.doc <br />