L.M. Twp. Receives 18th Straight 'Excellence in Financial Reporting' Award

For the 18th consecutive year, Lower Merion Township has been awarded a "Certificate of Achievement for Excellence in Financial Reporting," it announced. The award is given by the Government Finance Officers Association of the United States and Canada (GFOA), and covers the year ending December 31, 2010.

The certificate "is the highest form of recognition in the area of governmental accounting and financial reporting," the announcement reads. In a statememt, Dean Dortone, the township's chief financial officer, said, "This award is a major accomplishment for the Township and the entire Finance Department staff."

The remainder of the township's press release is as follows:

"For the 2010 fiscal year, Lower Merion achieved the distinction of earning both of the GFOA's financial reporting awards - the Certificate of Achievement for Excellence and the Distinguished Budget Presentation award. 'The Township's 18 consecutive CAFR awards and 22 consecutive Budget Presentation awards total the longest running combined streak on record for municipalities inPennsylvania,' stated Doug Cleland, Township Manager. 'Less than 1% of the over 2,500 municipalities in the Commonwealth are recognized with the yearly CAFR award. We share this distinction of financial reporting excellence with an elite group.'

" 'The hard work and determination it takes to keep winning this award year after year is another example of the outstanding financial management standards of the Township's Finance Department and its dedicated staff,' said Commissioner Paul McElhaney, Finance Committee Chair and Vice-President of the Board of Commissioners. An Award of Financial Reporting Achievement has been awarded to Dean J. Dortone, Chief Financial Officer and Eileen Bradley, Assistant Director of Finance.

"The Lower Merion Township CAFR was judged by an impartial panel and found to meet the high standards of the program including demonstrating a constructive 'spirit of full disclosure' to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. Citizens are encouraged to review this document, which is posted on the Township's website,www.lowermerion.org.

"The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, Illinois, andWashington, D.C."