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City of Cloquet awarded certificate for excellence in financial reporting

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Cloquet by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).

The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the City of Cloquet by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR).

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 a government and its management.

This is the first time the City of Cloquet has received such recognition.

"All credit for this recognition should go to our Finance Director Nancy Klassen and her staff," said Brian Fritsinger, city administrator. "[Klassen] has been an outstanding addition to the city and has challenged our organization to elevate our financial accountability during her tenure. The time and effort invested ... to gain this level of reporting accountability is significant and she has been able to encourage our other financial staff to use their strengths to help her in reaching this goal."

The financial report has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive "spirit of disclosure" to clearly communicate its financial story and motivate potential users and user groups to read it.

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The GFOA is a nonprofit professional association serving approximately 16,000 government finance professionals with offices in Chicago and Washington, D.C.

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