For the third year running, Cloquet's annual financial reporting has gone above and beyond what is mandated and a city employee has been given an award recognizing her efforts in making it happen.
The Government Finance Officers Association of the United States and Canada has awarded Nancy M. Klassen, CPA and finance director for the city of Cloquet, the Certificate of Achievement for Excellence in Financial Reporting.
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, according to a letter from the association.
Klassen, who has been practicing accounting for 21 years, described the higher level of reporting as a lot of work.
"It's quite a few steps above a regular finance report," she said. "The notes are more comprehensive and it takes a lot of extra time [to produce]."
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Reports of this nature demonstrate a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read it, the news release said.
