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auditing standards (GAAS) by a firm of licensed certified public accountants or the Office of the State <br />Auditor. It is our auditor’s role to ensure that our reports meet those standards. <br /> <br />Staff inquired with our consultants as to the importance of this certification. Ryan Schmidt, Partner at <br />Schlenner Wenner, the city’s auditing firm, stated that it is largely only their metro cities that apply for the <br />certification. Tammy Omdahl, Managing Director at Northland, the city’s municipal financial advisor, <br />stated that the award is not a factor for the city’s credit rating or impactful for interest rates when issuing <br />bonds. <br /> <br />ISSUE BEFORE COUNCIL: <br />Staff requests Council direction as to whether to continue to apply for the GFOA Certificate of <br />Achievement. <br /> <br />Options; <br />1. Apply for the program in 2025 (2024 ACFR). Cost of $460 out of pocket for application, <br />approximately 2 more hours of auditor time, and another 20 hours of staff time. Stop applying <br />for the program in 2026 (2025 ACFR). <br />2. Do not apply for the program in 2025 (2024 ACFR) or beyond, until it is decided by future <br />staff or Councils to revisit the program. <br />3. Keep applying for the program indefinitely. <br /> <br />ATTACHMENTS: <br />• Results from the 2023 ACFR application. <br /> <br /> <br /> <br />