RED OAK — For the fourth consecutive year, Red Oak Financial Director Miykael Reeve received the Certificate of Excellence in Financial Reporting award by the Government Finance Officers Association of the United States and Canada (GFOA) for her Comprehensive Financial Report (CAFR).
Presenting the award was Jim Sabonis of First South Securities.
“The city competes with over 7,500 cities to be recognized by CAFR. It is very significant for any city to receive this recognition. Receiving this recognition was a factor with the city’s bond rating being upgraded from A to double A," Sabonis said. “This is a significant accomplishment. A single level upgrade is an accomplishment for any city. A two level upgrade is very rare. This is a great achievement by the city and reflects the hard work by staff, the council, the finance department and the city managers."
The certificate of achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents accomplishment by the government agency recognized and its management.
This marked the fourth year Reeve entered Red Oak in the competition for the national award — and she is a perfect four-for-four. Reeve said the award is a "very special honor" and noted that “one of the benefits to the city is having received a CAFR, helps us when we go to investors."
In addition to receiving the CAFR, the city was also was awarded the Budget Award for the second consecutive year.
“We are truly honored and want to especially thank Miykael and her staff for all the hard work and efforts that went into this award,” Red Oak Mayor Alan Hugley said.
Each city’s entry is judged by an impartial panel 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 that read the CAFR.
Reeve came to Red Oak seven years ago with a primary goal to make a difference through contributions to make Red Oak the best town that it could be.
“I am very proud, I’m very proud to receive this award," Reeve said. "It goes to show that long hours and dedication paid off and especially seeing it pay off with the rating upgrading. I'm just really thankful to receive this award. I’m proud to a citizen of Red Oak and I’m proud of the council."