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News Release

FOR IMMEDIATE RELEASE
August 10, 2005

CONTACT: Steve Chapman
Moreno Valley Finance Department
951.413.3060
stevec@moval.org

City wins 7th consecutive financial reporting award

For the 7th consecutive year, the City of Moreno Valley has received the Certificate of Achievement for Excellence in Financial Reporting.

The Government Finance Officers Association of the United States and Canada, (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Moreno Valley for its comprehensive annual financial report for the fiscal year that ended June 30, 2004.

To be awarded the Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

"We're pleased to receive this prestigious award for the seventh consecutive year," said City Finance Director and Treasurer, Steve Chapman. "It takes a certain discipline and a lot of hard work to complete all the required elements of the GFOA Certificate of Achievement program. I'm proud of the Finance staff's efforts. This demonstrates our commitment to adhering to the highest reporting standards, and Moreno Valley citizens can be assured that the City's finances are well managed," he said.

The Certificate is valid for one year.

For more information about Moreno Valley’s Finance Department, contact Steve Chapman at 413.3060.