South Lake Tahoe Finance Department Recognized for Accounting

The Government Finance Officers Association (GFOA) of the United States and Canada has awarded the City of South Lake Tahoe the Certificate of Achievement for Excellence in Financial Reporting for the City's FY 2010 Comprehensive Annual Financial Report (CAFR). According to a city press release, this certificate is the highest form of recognition in the area of governmental accounting and financial reporting and represents a significant accomplishment by a government and its management.

The CAFR was judged by an impartial panel to meet the high standards of the program including the demonstration of a constructive "spirit of full disclosure" to clearly communicate the city's financial story. This is the fourth consecutive year that the finance department has received this award, and the first year to attain a score of proficient in each of the 17 categories that the panel graded, such as, Management's Discussion and Analysis, financial statements, summaries of significant accounting policies, note disclosures, required supplementary information and statistical section. This award demonstrates the city's many efforts over the past five years to develop improved financial policies and reporting standards and strengthen the city's financial reporting practices.
According to City Manager Tony O’Rourke, the award is the result of “The outstanding hard work of the entire Finance Department team led by Finance Director, Christine Vuletich - and in particular Accounting Manager Debbie McIntyre and Accountant Olga Tikhomirova.”