Annual Financial Report - 2006

Phone 301-258-6320 Fax 301-258-6326 Email finance@gaithersburgmd.gov

This Comprehensive Annual Financial Report is issued for the City of Gaithersburg, Maryland, with respect to the fiscal year that ended June 30, 2006 . The purpose of this report is to provide financial information of importance to the decision-making process of the Mayor and City Council, the citizens of Gaithersburg , oversight bodies, and creditors. This report is also a vehicle for City officials to gauge the extent to which sound financial management and reporting practices are being applied to protect the public interest.

A high priority of the City is to maintain a sound financial condition. We believe that our financial results for the year, which ended June 30, 2006, reflect our commitment to this objective:

• The City continues to provide facilities and services to its citizens while maintaining its pay-as-you-go philosophy and imposing no property tax rate increase for 42 years.

• The City’s reserves continue to be adequate to support unexpected emergencies in order to provide the highest quality of City services.

During Fiscal Year 2006, the City made progress in all goal areas of the Strategic Plan. The City’s tradition of award-winning programs was extended in a variety of ways:

• Gaithersburg was ranked number two on the list of "Best Places to Raise Your Family: The Top 100 Affordable Communities in the U.S” published by Frommer’s Guide.

• The City was awarded its 28th Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for the Comprehensive Annual Financial Report for the fiscal year that ended June 30, 2005 .

• A second Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States and Canada (GFOA) was received for the fiscal year that ended June 30, 2005 .

• The Gaithersburg Police Department earned first place in its size category for the Maryland Chief’s Challenge Seatbelt Campaign. These efforts contributed to a 91% seatbelt use rate in the state of Maryland .

• Gaithersburg Police Chief Mary Ann Viverette was installed as the first female president of the International Association of Chief’s of Police.

• Gregory Dennison, a Senior Plan Reviewer with the Gaithersburg Planning and Code Administration, received the Plan Reviewer of the Year Award from the Maryland Building Officials Association.

• The City received two APEX Awards for Communication Excellence, one for a cable TV commercial for the City’s Memorial Day observance and one for promotional literature regarding the City’s new emergency notification system.

• Gaithersburg received a Tree City USA designation by the National Arbor Day Foundation for the 17 th consecutive year.

The City continues to strive for excellence in the community:

• Gaithersburg celebrated the grand opening of the Youth Center at Robertson Park , the City’s first LEED-Certified Green Building . The building received an environmental award from the Maryland Recreation and Parks Association and enjoys daily attendance of 50+ middle school students.

• Gaithersburg celebrated its 10 th anniversary as a CHARACTER COUNTS! City, providing nearly 12,000 young people with a solid foundation for moral growth.

• Alert Gaithersburg , an emergency notification system which sends urgent messages via e-mail and text messaging to a variety of devices, was launched.

• In the aftermath of Hurricane Katrina, Gaithersburg re-fitted and donated four out-of-service police cruisers to Hancock County , Mississippi . A bus filled with donations accompanied the caravan. The City also assisted a local resident in collecting 2,000+ pairs of shoes for those living in Arkansas who had been displaced by Hurricane Katrina.

• Twenty-nine active Committees, Boards and Commissions make recommendations to help the Mayor and City Council with many important City initiatives, including a special advisory committee formed to make recommendations on the location of an employment center for day laborers.

• A new Art in Public Places sculpture was installed at the City’s Dog Park, bringing the City’s total inventory of culturally-enriching public art to fourteen pieces.

• $300,000 in grant funding was secured from the State for relocation of the Olde Towne Youth Center .

• The City received $958,090in grants to support community and economic development activities, the City's Wells/Robertson homeless program, police equipment and new officer salaries, funds to support low-income families and children within the City, and State grants to offset increased storm-water management costs.

The City of Gaithersburg continues to provide important services to its citizens, while maintaining a strong, fiscally conservative approach to financial management. It is my belief that the City’s Strategic Plan, effective budget process and sound management principles will ensure that the City remains in a strong financial condition.

Sincerely,
David B. Humpton
City Manager

• Download the 2006 Comprehensive Annual Financial Report (pdf file)
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