File #: 16-0311    Version: 1 Name: GFOA Award Acknowledgement
Type: Proclamation Status: Agenda Ready
File created: 3/24/2016 In control: Budget & Finance Committee
On agenda: 4/14/2016 Final action:
Title: Acknowledge Receipt of Government Finance Officers Association (GFOA) Award for 25 Consecutive Years
Sponsors: Eric Stuckey, Mike Lowe
Attachments: 1. GFOA Certificate of Achievement, 2. GFOA Award press release
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DATE:                                                               April 4, 2016

 

TO:                                          Board of Mayor and Aldermen

 

FROM:                                          Eric Stuckey, City Administrator

                                          Russell Truell, Assistant City Administrator

                                          Mike Lowe, Comptroller

                     

                                          

SUBJECT:                                          

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Acknowledge Receipt of Government Finance Officers Association (GFOA) Award for 25 Consecutive Years

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Purpose

The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the GFOA Financial Reporting award for the fiscal year ending June 30, 2015. 

 

Background

The City of Franklin has been awarded the Certificate of Achievement for Financial Reporting for the 25th consecutive year.  This award is the highest recognition of excellence in financial reporting granted by the Government Finance Officers Association of the United States and Canada. 

 

Financial Impact

There is no direct financial impact.  However, receipt of this award is recognized by bond rating agencies and underwriters when the City issues debt and figures in the pricing calculus.  Cities, counties and states may receive a more favorable interest rate when borrowing.

 

Recommendation

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