Laserfiche WebLink
ARDEN HILLS CITY COUNCIL – JULY 14, 2014 2 <br /> <br />entities whose Comprehensive Annual Financial Report (CAFR) achieves the highest standards in <br />government accounting and financial reporting. The CAFR is the City’s financial statement. <br /> <br />Mr. Nelson stated that the Award for Outstanding Achievement in Popular Annual Financial <br />Reporting is given to entities who publish a Popular Annual Financial Report (PAFR) whose <br />contents conform to program standards of creativity, presentation, understandability and reader <br />appeal. This report is primarily for the “non-finance” person in an easy to understand format. This <br />report is sent out annually in the City newsletter. <br /> <br />Mr. Nelson reported that the Distinguished Budget Presentation Award represents a significant <br />achievement by the entity. It reflects the commitment of the governing body and staff to meet the <br />highest principles of governmental budgeting. In order to receive the budget award, the entity has <br />to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are <br />designed to assess how well an entity’s budget serves as a policy document, financial plan, <br />operations guide, and a communications device. <br /> <br />Mr. Nelson stated that he was pleased to inform the Council and the public that Arden Hills has <br />received not one, but all three awards from the GFOA. These awards are for: CAFR – 2012, <br />PAFR – 2012, and Budget – 2013. <br /> <br />Mr. Nelson commented that Arden Hills was only one of 20 cities in the State that received the <br />distinguished budget award. Much work goes into producing these documents. Success is due to <br />the work of the entire department with each staff member taking a lead role in preparing the <br />documents. He congratulated Sue Iverson and her staff as follows: <br /> <br />Kyle Howard, Finance Analyst – Budget Document, & Financial Report <br />Ashley Bertrand, Accounting Analyst – Financial Report <br />Pang Silseth, Accounting Clerk – Popular Financial Report <br /> <br />Director of Finance and Administrative Services Iverson explained that the City has received <br />both the CAFR and PAFR awards since the 2006 reports and the Budget award since the 2009 <br />report. Staff has submitted the 2014 Budget and the 2013 financial reports to the awards program <br />and is confident that they fulfill the program requirements and the City will be receiving the <br />awards in the future. <br /> <br />Mayor Grant congratulated Director of Finance and Administrative Services Iverson and the <br />Finance Department for their dedication and hard work. <br /> <br />B. 2013 Audit Presentation <br /> <br />Aaron Nielson, the City’s auditor from MMKR, introduced himself and reviewed the 2013 audit <br />in detail with the Council. He explained the auditor’s role when reviewing the financial <br />statements, noting that the statements must be fairly presented in accordance with US GAAP. He <br />commented that the City received an unmodified opinion on the financial statements, which was <br />the auditor’s highest rating. He reported that no deficiencies were found in the testing and review <br />of the City’s finances, and the segregation of duties finding was not cited this year which is a <br />significant accomplishment for a City of this size and staff. Mr. Nielson then provided a summary