CAFR streak holds
The streak continues.
For 16 years in a row, Washington is the recipient of a Certificate of Achievement for Excellence in Financial Reporting. The award, from the Government Finance Officers Association of the U.S. and Canada, is the highest form of recognition in governmental accounting and financial reporting.
In order to be awarded a CAFR, a government must publish an easily readable and efficiently organized comprehensive annual financial report.
The streak began under Carol Williams, a former chief financial officer for the city. Current CFO Matt Rauschenbach continues the streak. Williams and Rauschenbach have credited the city’s finance staff for doing most of the work that has led to 16 consecutive awards.
“I’m pleased and honored to present Matt and his staff, for the 16th-consecutive year, to be awarded the Certificate of Achievement for Excellence in Financial Reporting. … Again, 16 years running. So, congratulations Matt and your staff,” City Manager Josh Kay said during the award presentation at the City Council’s July 23 meeting.
The CAFR program was initiated in 1945 to encourage and assist local and state governments to go beyond the minimum accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and recognized governments that succeed in meeting that goal.
At the July 23 meeting, the council amended the budget to allocate funds for repairs to an oxidation ditch at the city’s wastewater treatment plant.
On July 3, one of the oxidation-ditch mixers in the city’s original oxidation ditch suffered a significant failure.
“A large chuck of steel below the waterline from an anti-vortex baffle corroded into and fell on the mixer blade while the mixer was running,” reads a memorandum fro Public Works Director Allen Lewis to the mayor and council. That incident damaged the mixer blade and gearbox that drives the mixer.
The city had a new mixer blade ($25,000 value) in stock, but other expenses for the needed repair work were estimated at $50,000.