HomeMy WebLinkAbout1997-03-06 City Council (4)City of Palo Alto
City Manager’s Report
TO:HONORABLE CITY COUNCIL
FROM:CITY MANAGER DEPARTMENT: ADMINISTRATIVE
SERVICES
DATE:MARCH 6, 1997 CMR:164:97
SUBJECT:RECOGNITION BY THE CALIFORNIA SOCIETY OF
MUNICIPAL FINANCE OFFICERS FOR THE 1995-96
COMPREHENSIVE ANNUAL FINANCIAL REPORT, THE
1996-98 ADOPTED BUDGET AND THE 1995-96 YEAR-END
REPORT ON KEY PLANS AND IMPACT MEASURES
REQUEST:
This is an informational report and does not require any Council action.
EXECUTIVE SUMMARY:
The City of Palo Alto was recently informed by the California Society of Municipal Finance
Officers (CSMFO) that it has received awards for the 1995’96 Comprehensive Annual
Financial Report, the 1996-98 Adopted Budget and the 1995-96 Year-end Key Plans and
Impact Measure Report.
The 1995-96 Comprehensive Annual Financial Report (CAFR) has been recognized with an
Award for Outstanding Financial Reporting. This is the third year in a row that the CAFR
has been recognized by CSMFO. The CSMFO Review Committee performs an in-depth
evaluation of the CAFR. To qualify for the award, a CAFR must be prepared in
conformance with generally accepted accounting principles, and be audited in conformance
with generally accepted auditing standards. In addition, the Committee evaluates such things
as efficient organization, clearness and ease of reading, and effective and fair presentation
of financial information.
For the third year in a row, the budget has also received commendation from CSMFO. The
1996-98 Adopted Budget has been recognized for Merit in Operating Budgets and
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Excellence in Operational Budgeting. This is the second time Mission Driven Budgeting has
received awards from CSMFO.
This year, staff submitted the 1995-96 Year-end Key Plan and Impact Measures Report to
CSMFO for consideration in the categories of Excellence in Public Communications and
Innovations in Budgeting. The report was recognized by CSMFO in both categories. This
was the first time the report had been prepared, reflecting the first year of key plans and
impact measures under MDB. CSMFO looks for innovations which enhance the value of the
budget as a communications tool with the citizens, elected officials and other financial
institutions. It also believes that it is essential for innovations to be cost effective, and to be
potentially replicable by other cities. Rating criteria include originality, overall appearance,
clarity, graphic art, technology, effectiveness, practicality, and value in terms of improving
management and the budget process as well as communication to the public. It should be
noted that last year, Palo Alto received the Excellence in Public Communications and
Excellence in Innovations awards for the 1995-96 Mission Driven Budget document, the first
MDB budget. Feedback from CSMFO is that it is highly unusual for a City to receive
awards in all four categories for three consecutive years.
PREPARED BY: Virginia Harrington, Budget Manager
DEPARTMENT HEAD APPROVAL:~.~. ~
Emily’l:t~rison
Deputy City Manager,
Administrative Services
CITY MANAGER APPROVAL:
CC: n/a
Fleming
Manager
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