HomeMy WebLinkAboutINTRODUCTORY SECTIONCITY OF AUBURN
WASHINGTON
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
Fiscal Year January 1, 2006 through December 31, 2006
Prepared by
Finance Department
Shelley Coleman, Finance Director
CITY OF AUBURN: 2006 CAFR TABLE OF CONTENTS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2006
TABLE OF CONTENTS
Page
I. INTRODUCTORY SECTION
Title Page
Table of Contents............................................................................................................................i
City Officials.....................................................................................................................................1
Organizational Chart (City and Council Committees)......................................................................2
Letter of Transmittal.........................................................................................................................3
Certificate of Achievement..............................................................................................................11
II. FINANCIAL SECTION
Auditor’s Report..............................................................................................................................13
Management’s Discussion and Analysis........................................................................................15
Basic Financial Statements
Government-wide Financial Statements:
Statement of Net Assets....................................................................................................35
Statement of Activities.......................................................................................................36
Fund Financial Statements:
Balance Sheet – GovernmentalFunds..............................................................................39
Statement of Revenues, Expenses and Changes in
Fund Balance – Governmental Funds.............................................................................40
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances of Government Funds to the Statement of Activities..............................41
Statement of Net Assets – Proprietary Funds...................................................................44
Statement of Revenues, Expenses, and Changes in
Fund Net Assets – Proprietary Funds.............................................................................45
Statement of Cash Flows – Proprietary Funds..................................................................46
Statement of Fiduciary Net Assets – Fiduciary Funds......................................................49
Statement of Changes in Fiduciary Net Assets – Fiduciary Funds...................................50
Notes to the Financial Statements........................................................................................51
Required Supplemental Information:
Schedule of Revenues, Expenses and Changes in
Fund Balance – Budget and Actual:
General Fund.....................................................................................................................83
Arterial Street Fund............................................................................................................84
Combining and Individual Fund Financial Statements and Schedules:
Combining Balance Sheet – Non-Major Government Funds...............................................86
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances – Non-Major Government Funds............................................................87
Combining Balance Sheet – Non-Major Special Revenue Funds........................................90
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances – Non-Major Special Revenue Funds....................................................92
Schedules of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual:
Local Street Special Revenue Fund..................................................................................94
Hotel/Motel Tax Special Revenue Fund............................................................................95
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CITY OF AUBURN: 2006 CAFR TABLE OF CONTENTS
Schedules of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual:
(continued)
Page
Drug Forfeiture Special Revenue Fund.............................................................................96
Local Law Enforcement Grant Special Revenue Fund.....................................................97
Housing & Community Development Special Revenue Fund...........................................98
Recreation Trails Special Revenue Fund..........................................................................99
Business Improvement Area Special Revenue Fund.......................................................100
Cumulative Reserve Special Revenue Fund....................................................................101
Mitigation Special Revenue Fund.....................................................................................102
Special Parks and Recreation Special Revenue Fund....................................................103
Combining Balance Sheet – Debt Service Funds...................................................................106
Combining Statement of Revenues, Expenditures, and Changes in
Fund Balance – Non-Major Debt Service Funds..............................................................107
Balance Sheet – Capital Project Fund....................................................................................109
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Capital Project Fund.............................................................................110
Balance Sheet – PermanentFund..........................................................................................112
Statement of Revenues, Expenditures and Changes in Fund Balance –
Permanent Fund...............................................................................................................113
Combining Statement of Net Assets – Non-Major Enterprise Funds.....................................115
Combining Statement of Revenues, Expenses, and Changes in Fund
Net Assets – Non-Major Enterprise Funds.......................................................................116
Combining Statement of Cash Flows – Non-Major Enterprise Funds....................................117
Combining Statements of Net Assets – Internal Service Funds.............................................120
Combining Statement of Revenues, Expenses, and Changes in
Fund Net Assets – Internal Service Funds.......................................................................121
Combining Statement of Cash Flows – Internal Service Funds.............................................122
Statement of Changes in Assets and Liabilities – AgencyFund............................................125
III. STATISTICAL SECTION
Schedule
Net Assets by Component..............................................................................................1............128
Changes in Net Assets...................................................................................................2............129
Fund Balances, Government Funds...............................................................................3............130
Changes in Fund Balances, GovernmentFunds...........................................................4............131
Tax Revenues by Source, Government Funds..............................................................5............132
Assessed Value by Type................................................................................................6............133
Property Tax Data...........................................................................................................7............134
Property Tax Levies and Collections..............................................................................8............136
Principal Taxpayers – Property Taxes...........................................................................9............137
Retail Tax Collections by Sector...................................................................................10............138
Ratios of Outstanding Debt by Type.............................................................................11............139
Computation of Legal Debt Margin...............................................................................12............140
Legal Debt Margin Ratios.............................................................................................13............140
Computation of Net Direct and Estimated Overlapping Debt.......................................14............141
Ratio of Net General Bonded Debt to Assessed Value................................................15............142
Pledged Revenue Bond Coverages.............................................................................16............143
Population, Income and Housing Trends.....................................................................17............144
Major Employers...........................................................................................................18............145
Staffing Levels by Department.....................................................................................19............146
Operating Indicators by Department............................................................................20............147
Capital Asset Indicators by Department.......................................................................21............148
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CITY OFFICIALS
MAYOR
Pete Lewis
CITY COUNCIL
Nancy Backus Gene Cerino Lynn Norman
Bill Peloza Sue Singer Roger Thordarson Rich Wagner
DEPARTMENT HEADS
Finance Director Shelley Coleman
City Attorney Dan Heid
Director of Human Resources & Risk Management Brenda Heineman
Fire Deputy Chief Mike Gerber
Information Services Lorrie Rempher
Parks Director Daryl Faber
Planning Director David Osaki, Acting
Police Deputy Chief Bob Lee
Public Safety Chief Jim Kelly
Public Works Director Dennis Dowdy
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CITY OF AUBURN: 2006 CAFR ORGANIZATION
CITIZENS
MAYOR
JUDGE
CITY COUNCIL
Pete Lewis
Patrick Burns
ADMINISTRATIVE PUBLIC WORKS
PUBLIC SAFETY
PUBLIC SERVICES
Jim Kelly
SERVICESDennis Dowdy
PARKS &
PLANNING
POLICEFIRE
RECREATION
David Osaki,
Bob LeeMike Gerber
Daryl Faber
Acting
HUMAN
INFORMATION
LEGAL
FINANCE
RESOURCES
SERVICES
Dan Heid
Shelley Coleman
Brenda Heineman
Lorrie Rempher
COUNCIL COMMITTEES
FINANCE COMMITTEEMUNICIPAL SERVICES
Nancy Backus, ChairpersonGene Cerino, Chairperson
Lynn NormanBill Peloza
Roger ThordarsonRich Wagner
PLANNING & COMMUNITY DEVELOPMENTPUBLIC WORKS
Lynn Norman, ChairpersonRich Wagner, Chairperson
Gene CerinoRoger Thordarson
Nancy BackusBill Peloza
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June 1, 2007
Honorable Peter Lewis, Mayor
Members of the Auburn City Council
Citizens of the City of Auburn
25 W Main Street
Auburn, WA 98001
State law requires that cities with populations of 25,000 or more publish financial statements in
conformity with Generally Accepted Accounting Principles (GAAP) and are audited in
accordance with generally accepted auditing standards by the State Auditor’s Office under the
Revised Code of Washington (RCW) 43.09.020.
Therefore, we issue and transmit to you the City of Auburn’s Comprehensive Annual Financial
Report (CAFR) for the fiscal year ended December 31, 2006. This transmittal letter provides an
overview of the report and the financial condition of the City. It also provides insight into the
history of the City and the economic conditions affecting it, and describes the systems and
controls employed by the Finance department.
The Comprehensive Annual Financial Report has several significant uses. First, it provides a
general overview of the City’s finances to the general public and taxpayers. Second, it is
referenced by bond buyers and rating agencies to evaluate the City’s fiscal stability and
creditworthiness. Finally, the CAFR is a series of financial statements that have been audited by
the State Auditor’s Office and provides assurances that assets are safeguarded and funds are
expended as they were legally appropriated in the annual budget.
I. INTRODUCTION
A. MANAGEMENT REPRESENTATION
The Auburn Finance Department prepared the report and accepts complete responsibility for the
accuracy, completeness, and fairness of presentation of the information included. The data is
believed to be accurate in all material respects, and it is believed that all significant information
necessary for an understanding of the affairs and financial condition of the City has been
disclosed. The report has been prepared in conformance with GAAP and in conformance with
financial reporting standards issued by the Governmental Accounting Standards Board (GASB).
City management has developed and evaluated a comprehensive internal control structure that
is designed to protect the City’s assets from loss, theft, or misuse and to compile sufficient
reliable information for the preparation of the City’s financial statements in conformity with
GAAP. Because the cost of internal controls should not outweigh the benefits, the City’s internal
control structure is designed to provide reasonable, rather than absolute, assurance that the
financial statements will be free from material misstatement. As management, we attest that, to
the best of our knowledge and belief, this financial report is complete and reliable in all material
aspects.
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
As a recipient of federal, state and county financial assistance the City is required to undergo an
annual single audit in conformity with the provisions of the Single Audit Act Amendments of 1996
and Budget Circular A-133, Audits of State and Local Governments. The audit is conducted by
the State Auditor’s Office in conjunction with the City’s annual independent audit. The results of
the City’s single annual audit for the fiscal year ended December 31, 2006 provided no instances
of material weakness in the internal control structure or significant violations of applicable laws.
GAAP requires that management provide a narrative introduction, overview and analysis to
accompany the basic financial statements in the form of Management’s Discussion and Analysis
(MD&A).This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. Auburn’s MD&A can be found immediately following the independent
auditor’s report.
B. ORGANIZATION OF THE REPORT
The report is divided into three sections: the Introductory Section, the Financial Section, and the
Introductory Section
Statistical Section. The contains the table of contents, a list of the City’s
principal officials, an organizational chart, this letter of transmittal, and the Certificate of
Achievement for Excellence in Financial Reporting from the Government Finance Officers’
Financial Section
Association of the United States and Canada for the 2005 CAFR. The
contains the Washington State Auditor’s Report, completed by the Washington State Auditor,
Management’s Discussion and Analysis, Government-Wide Financial Statements, the Fund
Financial Statements, Notes to the Financial Statements and Other Required Combining and
Statistical Section,
Supplemental Information.Thewhich is unaudited, contains a range of
statistical tables and charts that present various financial, economic, social, and demographic
data about the City. This information depicts various trends that have affected the fiscal
condition of the City over the last ten years. The data presented in this section complies with the
requirements of GASB Statement No. 44, Economic Condition Reporting: The Statistical
Section.
C. REPORTING ENTITY
The City of Auburn was incorporated in 1891 and currently operates as a non-charter Code City
under the laws of the State of Washington. Code City status in Washington provides “home rule”
authority to cities. Auburn has a Mayor/Council form of government, and the Mayor is elected
and is the full-time Chief Administrator. The seven-member City Council are elected at large,
rather than by district. Members of the City Council are responsible for establishing the general
direction and policies for the City and for providing the resources necessary to carry out those
policies. As the City’s chief administrator, the Mayor is responsible for carrying out the policy
and direction set by the City Council. This includes the enforcement of laws and ordinances, the
execution of contracts and agreements, and maintenance of peace and order in the city. The
City is located primarily in southern King County (county seat, Seattle) and a small northeastern
portion of Pierce County. These are the two most populous counties in the State of Washington,
comprising over 40% of the population. The City is strategically located in relation to the labor
and consumer markets of the two largest cities in the area: Seattle in King County and Tacoma
in Pierce County. Auburn currently serves approximately 49,000 people within its incorporated
limits as well as over 42,000 people in adjacent unincorporated areas.
The City provides a wide range of services, both beneficial and necessary, to its residents as
well as to the adjacent area. These services include police protection; fire protection, which
includes emergency medical services; parks and recreational facilities that include a senior
center, golf course and museum; land use management and development regulation;
infrastructure construction and maintenance; water, sanitary sewage collection, storm drainage,
and solid waste services; a general aviation airport; and a municipal cemetery. The City also
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
has a municipal court and jail facilities that provide services to other governmental agencies
through interlocal agreements.
II. ECONOMIC CONDITION
A. SUMMARY OF LOCAL ECONOMY
Auburn began as a small rural community based on agriculture and the railroad, which
maintained a significant switching and repair facility. The City has grown significantly since
World War II, both as a residential community and as a commercial and industrial area. Auburn
has become a significant area for automobile sales and has also developed a significant
manufacturing and distribution base with the largest employer being The Boeing Co., which
employs over 4,500 people in its Auburn facility. Boeing is a worldwide supplier of aircraft and
related products. The City’s assessed valuation in 2006, for 2007 property tax collection, was
$5,765,027,710.
Auburn has enjoyed steady residential and industrial growth over the years as development has
moved outward from the major cities. The City currently has a growing array of manufacturing
facilities, as well as distribution, wholesaling, and retailing operations. Auburn Regional Medical
Center, located in Auburn, serves the local geographic area and is a major trauma center of the
northwest. The medical center has purchased land on which to construct an oncology center
and parking garage.
Auburn also has a significant retailing base, and in addition to maintaining its downtown core
businesses, has attracted significant retailers who have constructed major new facilities in
Auburn in recent years. The SuperMall of the Great Northwest has increased the retail base
along with adjacent mall development which has only a few prime sites left available for new
construction. Developments that have taken place over past years include a 17-screen movie
theater, WalMart, Sams Club and restaurants. Auburn has also been a center for automobile
sales for a number of years, drawing customers from a wide area.
Since 1997 the City’s total assessed property valuation has more than doubled from $2.9 to
almost $5.8 billion. The sales tax receipts went from $10.1 to $16.3 million in the same time
period. This is at the same time the State changed the tax structure of Washington to exempt
sales tax on research and manufacturing activities. This one change eliminated over $700,000
of the City’s sales tax base in one year. The City had to generate opportunities for businesses to
help the City offset this significant loss. Recent sales tax increases have been largely due to
construction and auto sales.
Since the recession, the economic climate has steadily strengthened. Construction permits and
Real Estate Excise Tax revenue over the past few years have been robust. Many City projects
are in the planning stages including creation of the Auburn Environmental Park. The City has
acquired property in the planned area and has received small amounts of grant funding. This
revitalization trend is positive for the aging downtown core and it is anticipated that it will
continue. Residential construction continues in the southeast section of Auburn and
developments are planned for the north end as well.
The Boeing Company’s layoffs and divestiture in the Puget Sound area have had an effect on
the regional and local economy. Boeing has reduced approximately 57% of its jobs in Auburn.
The Boeing downsizing operation is leading to a new economic growth cycle in Auburn as
available property and the adjacent land open up development opportunities for other
businesses. These new businesses are relocating to Auburn by using property vacated by the
Boeing Company. There are several other businesses negotiating with Boeing to take over
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
existing facilities or purchase land and move their operations to Auburn. In the long term, the
City will benefit from the economic diversity.
Another factor strengthening the local economy during the last ten years was the addition of
Emerald Downs a major thoroughbred horseracing facility in Auburn, to replace Longacres – the
area’s former racing facility located in Renton, Washington. The addition of the Thoroughbred
Breeders Association headquarters was completed in 1998. Emerald Downs also provides
facilities for meetings, banquets and seminars. A major gambling facility is located on the
Muckleshoot Indian Reservation in Auburn. In 1999, 2004 and again in 2006, the facility was
expanded for additional gambling which includes a non-smoking facility, entertainment, and the
addition of a 24-hour family restaurant. The casino recently completed construction of a five-
story parking garage to accommodate casino growth and increased numbers of patrons. The
Tribe is in the planning stages at this time for further expansion of the facility in the near future.
The Tribe also opened the White River Amphitheater, a 25,000 seat outdoor facility in 2003. The
total impact of these facilities on the City is not fully known at this time but there has been an
increased demand for public safety, and has had a large transportation impact, as the main
arterial accessing these sites goes directly through the City.
Despite economic cycles, the City has continually focused on enhancing the quality of life in the
community. In recent years, through strategically placed bond issues, successes in grant
procurements, and conservative operations, parks have been expanded, streets improved,
commercial and residential sidewalks have been upgraded, and buildings advantageously
renovated to house a new senior center and parks department. In 1997, the voters elected to
annex to the King County Library System. The System completed construction of a new library
in the City early in 2000. In 2001, the City renovated the former library building into a new
Senior Center at the Les Gove Park campus. In 2003, the City was successful in negotiating the
purchase of the YMCA building located on this campus with the vision of it being renovated into
a community center in the future. The campus currently hosts the Library, White River Valley
Museum, Parks and Recreation department and Senior Center.
The City’s budgeting process is based on financial policies directed at conserving fiscal
resources while supporting programmatic strategies. Budget recommendations reflect a long-
range analysis of fiscal trends. These policies and practices have not only averted serious
funding problems in the past, particularly in the recent recession years of 2001 and 2002, but
have maintained the General fund on a firm financial basis and allowed carefully planned
enhancements in services.
The City is currently in stable financial condition. All funds contain adequate balances, and the
City’s debt is manageable. The General and Cumulative Reserve funds contain satisfactory
balances, a significant Insurance fund has been set aside for contingencies, and the Equipment
Rental fund is adequate for vehicle replacement. The Proprietary and Fiduciary funds are
generally in satisfactory condition and have adequate balances for their purposes. The Water
fund has been under some economic pressure due to an aggressive capital program to meet
federal and state requirements. Rates were increased during 2005 and again in 2007. All rate
increases were applied as a result of a cost-of-service study. A cost-of-service study was
updated for the Sanitary Sewer fund and rates increased in January 2001, 2002, 2005 and 2007
to ensure the ongoing operational health of the fund. The City completed a cost-of-service study
for the Storm Drainage fund in 2004 and new rates went into effect early 2005 and 2007.
B. FUTURE ECONOMIC OUTLOOK
Auburn is in a continuous process of both short-term and long-term financial planning. Short-
term financial planning is inherent in the development of the City’s annual budget. Concurrent
with the annual budget is the City’s long-term capital needs and potential funding is assessed
with the development of the six-year capital facility plan. The capital facility plan is a component
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
of the Comprehensive Master Plan, which outlines how the City should look and function in
twenty years and creates a vision that can be realistically implemented. An integral part of this
vision is determining how to allocate the City’s financial resources to achieve the desired goals.
The City has several long-term planning and capital projects underway. Reconstruction of
Auburn Way South is under construction in conjunction with safety improvements, sewer line
placement and the Intelligent Traffic System (ITS). The ITS project will allow the City to program
and monitor intersections from a central location on this highly traveled corridor. A master plan
for the Les Gove Park Campus, which will house a community center in the future, is underway
for this centrally located park.
The Pierce County area of the City continues to grow through the development of new single
and multifamily housing in Lakeland Hills. Sorrento and Sienna town homes, Palermo
apartments and Pinnacle single-family homes are some of the newest developments with more
in the planning stages.
Growth is predicted to continue, but not at the rate experienced in the late 1990’s. The
challenge is to control costs that grow at a faster rate than revenue. Areas of concern are health
care costs and public safety costs related to incarceration and labor contracts. Continuing to
fund these sectors will draw valuable resources from other areas such as infrastructure
replacement and capital programs. As Auburn moves forward, economic conditions will be
continually monitored and adjustments to city spending and services made to maintain the City’s
financial health. Long-term plans will be focused on ensuring the City continues to be an
economically strong and viable city.
III. FINANCIAL INFORMATION
A. CASH MANAGEMENT
The City invests in U.S. Treasury and Agency Issues, Prime Bankers Acceptances, Time
Deposits, and Repurchase Agreements. Investment policies and procedures, established by the
Mayor and adopted by the City Council, require the City to establish a trustee to take delivery of
all investment transactions at time of payment. The City has contracted with the Bank of New
York to provide delivery versus payment trustee services on all investments. The State of
Washington maintains an investment pool to provide economies of scale in investing to smaller-
and medium-sized cities in the State. The City uses this service for all funds not invested in
longer-term securities. The pool operates under the same legal restrictions that apply to all
municipalities in the State and, consequently, uses the same instruments as listed above. The
State also takes delivery of all investment transactions.
The City has adopted a comprehensive investment policy statement to guide City investment
practices. These policies are closely patterned after the recommendations in Investing Public
Funds published by the Government Finance Officer’s Association (GFOA). Investments are
restricted to less than three years in order to maintain liquidity on all investments in all funds, yet
enable the City to take advantage of the yield curve. Fiduciary funds, which involve long-term
reserves and require minimal liquidity, are invested for longer time periods. The City undertakes
repurchase agreements only with financial institutions that offer the City full protection in the
event of default, by providing the delivery of the underlying security to the City. During 1997, the
City received the Certification of Excellence Award from the Association of Public Treasurers of
the United States and Canada on this policy.
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
B. RISK MANAGEMENT
1. Types and Level of Risk Assumed
The City participates in the Washington Cities’ Insurance Authority (an insurance pool of over
100 cities). The City actively pursues risk reduction in the operation of its programs.
The City purchases, with employee participation, most of its health insurance for its employees
through commercial policies administered by the Association of Washington Cities. Employees
represented by the Teamsters Union have insurance through the Teamsters organization. The
City participates in the Washington State Workers’ Compensation program.
In order to keep its long-term options open and to provide for any uninsured losses that might
occur, the City has elected to build an insurance reserve (the Insurance fund). The Insurance
fund supplements various insurance coverages maintained by the City. This fund is also used to
self-insure some limited exposures, the most significant of which is accidental loss to City-owned
vehicles.
2. Risk Control Policies
The Washington Cities’ Insurance Authority not only provides a sharing of risk by pooling of
losses, it also provides an extensive array of professional services in risk management. The
pool monitors the City’s management practices and damage claims. The City follows the
guidelines provided by the pool in an effort to minimize risk exposure in the day-to-day
operations of the City’s programs. The City also maintains an extensive employee safety
program managed by the Human Resources department.
IV. OTHER RELEVANT INFORMATION
A. INDEPENDENT AUDIT
State law requires an annual audit of all City books of accounts and financial records by the
Office of the State Auditor, which is headed by an independently elected State official, the State
Auditor. The Auditor has broad legal authority to inquire into all financial and legal compliance
matters and such audits are considered equal to audits by certified public accounting firms. The
2006 financial audit of the City is complete and was conducted in conformance with Generally
Accepted Auditing Standards. The financial statements of all City funds have been included in
this audit. The City has been given an unqualified opinion for 2006. Please see the Auditor’s
Report. The State Auditor’s Office also audits the City’s administration of its federal grants under
the single audit concept.
B. AWARDS
The Government Finance Officer’s Association of the United States and Canada (GFOA)
awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Auburn
for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 2005.
This was the nineteenth consecutive year that the City has achieved this prestigious award. In
order to be awarded a Certificate of Achievement, a government must publish an easily readable
and efficiently organized comprehensive annual financial report. This report must satisfy both
generally accepted accounting principles and applicable legal requirements.
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CITY OF AUBURN: 2006 CAFR LETTER OF TRANSMITTAL
A Certificate of Achievement is valid for a period of one year only. We believe that our current
Comprehensive Annual Financial Report continues to meet the Certificate of Achievement
Program’s requirements and we are submitting it to the GFOA to determine its eligibility for
another certificate.
The City has also received the Government Finance Officer’s Association Distinguished Budget
Presentation award for fifteen years. The City was one of just twenty-two cities in the state to
receive both the Certificate of Achievement for Excellence in Financial Reporting and the
Distinguished Budget Presentation award for 2005.
C. ACKNOWLEDGMENTS
Preparation of this report could not have been accomplished without the professional, efficient,
and dedicated staff of the Finance department and various other City employees who assisted in
its production. Further appreciation is extended to the Mayor and City Council for their
encouragement, interest, and support in conducting the financial affairs of the City in a sound
and progressive manner. The assistance of the auditors from the Office of the State Auditor is
also greatly appreciated.
Respectfully submitted,
Shelley R. Coleman
Finance Director
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CITY OF AUBURN: 2006 CAFR CERTIFICATE OF ACHIEVEMENT
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