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Government Finance Officers Association of the United States and Canada (GFOA) <br />has awarded the Certificate of Achievement for Excellence in Financial Reporting to City <br />of Lake Elmo for its comprehensive annual financial report for the fiscal year ended <br />December 31, 2019. The report has been judged by an impartial panel to meet the high <br />standards of the program, which includes demonstrating a constructive "spirit of full <br />disclosure" to clearly communicate its financial story and motivate potential users and user <br />groups to read the report. <br />The Certificate of Achievement is the highest form of recognition in the area of <br />governmental accounting and financial reporting, and its attainment represents a <br />significant accomplishment by a government and its management.