City of Bloomington and Controller Receive Award

FOR IMMEDIATE RELEASE

February 19, 2008

For additional information: Maria K. Heslin, Deputy Mayor, City of Bloomington, 349-3569 Bloomington, IN -- Mayor Mark Kruzan announced today that the City of Bloomington has been awarded The Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). City Controller Susan Clark received an Award of Financial Reporting Achievement as the primary person responsible for preparing the award-winning Comprehensive Annual Financial Report (CAFR) for the fiscal year that ended December 31, 2006. "I am thankful to Susan and her staff for working diligently to perfect the City's financial report," Kruzan said. "One of my goals is to create a financially efficient and effective government so all the city's resources are allocated in the most responsible manner and our taxpayer money is well spent." The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by the City of Bloomington and its management. An award-winning CAFR demonstrates an organization's constructive "spirit of full disclosure" to communicate its financial story clearly and motivate potential users to read the CAFR. With the receipt of the award, bond-rating agencies will consider this achievement when analyzing the credit rating of a government entity. As a result, when interest rates are set, the receipt of a CAFR award can save money by keeping bond interest rates low, which benefits city of Bloomington residents. In addition to receiving the Certificate of Achievement for Excellence in Financial Reporting, Clark was recently designated Certified Public Finance Officer. To obtain the designation, Clark took five separate exams, the most recent entitled "Governmental Accounting, Auditing and Financial Reporting." She received the highest score in the nation on the Accounting section. For additional information about the City's financial report, contact the City of Bloomington Office of the Controller at 349-3412. # # #