Silverthorne snags financial reporting award
summit daily news
SUMMIT COUNTY, CO COLORADO
SILVERTHORNE ” The the 12th consecutive year, the town of Silverthorne received national recognition for its high quality financial reporting, an honor given to less than one percent of towns with populations under 1,000.
The Government Finance Officers Association (GFOA) recently presented Silverthorne’s annual financial report with its certificate of excellence in financial reporting.
The certificate, first awarded in 1945, encourages public institutions and governments to meet high standards of accountability and transparency. While participation in the program isn’t mandatory, being recognized by the GFOA can benefit Silverthorne in several ways.
“It could affect our bond rating or premiums on bond insurance,” town finance director Donna Braun said. Receiving the national certificate reflects the overall fiscal stability to the town, she added.
Silverthorne town manager Kevin Batchelder acknowledged Braun’s role in the 12-year run of certificates.
“Although we’ve become accustomed to Donna and her staff bringing this award home each year, in no way does that diminish the significance of this accomplishment,” he said.
In the town finance department since 1993, Braun places a high priority on clear and comprehensive reporting.
“It’s important for the town overall, because it gives us a sense of security and some validity as to how we manage the citizens’ money,” she said.
The entire town finance department ” including Braun, town accountant Tonda McArthur, revenue administrator Kathy Marshall, and Linda Major ” received a plaque in honor of the certificate at the May 13 town council meeting.
In addition to the current certificate, Silverthorne’s biennial budget has garnered awards from the GFOA for the past seven budget cycles. The town is now in the process of preparing its 2009-2010 budget, with public presentations scheduled for late October.
The GFOA also recognized Summit County and the town of Breckenridge for their 2006 annual financial reports.
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