Special to the E-T The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement in Financial Reporting to the City of Stephenville for its Comprehensive Annual Financial Report for the fiscal year ending Sept. 30, 2006.

“It's a great sign and indication of the favorable economic environment we're in and the prudent financial management of the city council and staff, City Administrator Mark Kaiser said of the award.

The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.

This award was the 24th consecutive year the City of Stephenville has achieved this prestigious award.

In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report.

The report must satisfy both generally accepted accounting principles and applicable legal requirements.

This award is an indication of the city's favorable economic environment and the prudent financial management of the city council and staff.