FAIRHOPE, Ala. — For the second year in a row, the city of Fairhope and its financial reporting director have been recognized by the Government Finance Officers Association for the city’s annual audit of its municipal finances.

“We are pleased to notify you that your comprehensive annual financial report for the fiscal year ended Sept. 30, 2008, qualifies for a Certificate of Achievement of Excellence in Financial Reporting,” an Oct. 22 letter from the GFOA to Mayor Tim Kant stated. “The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.”

Rose Fogarty, the city’s financial reporting director, also received an Award of Financial Reporting Achievement from the GFOA, which is awarded to the individual, department or agency designated by the municipality as primarily responsible for preparing the award-winning CAFR.

“We go beyond what is required for an annual report,” Fogarty said. “In order to receive this award, we must publish an easily readable and efficiently organized CAFR. It must satisfy both generally accepted accounting principles and legal requirements. Then, we voluntarily submit the report for review by a panel of our peers. Their review and this award certificate means a lot. I am very proud of my staff and the personnel of the treasurer’s office, with whom we work very closely.”

The city’s CAFR was judged by an impartial panel to meet the high standards of the GFOA program and demonstrated a constructive “spirit of full disclosure,” according to the group, which is a nonprofit organization serving government finance professionals.

Kant said the award reflects highly on Fogarty and her staff, including City Accountant Jill Cabaniss, and Accounts Payable Specialist Nancy Bell, as well as City Treasurer Nancy Wilson and her assistant, Belinda Job.

“Rose and her staff work hard to prepare and present full and complete information on the city’s finances, and this certificate recognizes and honors that work,” Kant said. “We should all be very proud of them.”