Rochester achieves distinction in financial reporting for 50th consecutive year
Mar. 24—ROCHESTER — Five decades of financial reporting has earned Rochester a place in the record books.
The Government Finance Officers Association of the United States and Canada has awarded the Certificate of Achievement for Excellence in Financial Reporting to the city for the fiscal year that ended Dec. 31, 2020.
It's the 50th consecutive year Rochester has achieved this recognition, making it the longest of any city in Minnesota.
"To achieve this distinction once again, which totals 50 straight years, reflects a strong commitment by the city of Rochester and our teammates to fiscal management," Rochester City Administrator Alison Zelms said in a statement announcing the recognition. "Rochester is in its own class, with no other community in the state of Minnesota having realized this achievement."
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.
The recognition is one of the pieces of data that bond rating organizations use to determine Rochester's AAA bond rating, which provides a lower interest rate.
