October 29, 2008

FOR IMMEDIATE RELEASE

CONTACT: David Swindell, Chief Financial Officer, at 234-6166

CITY RECEIVES FINANCIAL REPORTING AWARDS

For the fourth consecutive year, the City of Pocatello has been recognized by the Government Finance Officer’s Association (GFOA) for excellence in financial reporting. The City received GFOA’s Certificate of Achievement for Excellence in Financial Reporting for the City’s FY 2007 Comprehensive Annual Financial Report. The City was also recognized for achievement in publishing a high quality simplified version, called a “popular report.” Both the comprehensive annual report and the shorter popular report are available to citizens on the City’s public website, www.pocatello.us.

According to GFOA, “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.”

Providing high quality financial reporting is important to city management and to citizens, according to Chief Financial Officer David Swindell. “I want to recognize the hard work of the entire Finance Department and especially Controller Joyce Stroschein, who led this year’s effort.” Swindell noted that award winning financial reports were an important element in confirming the City’s “A1” rating for general obligation debt and obtaining an “A2” bond rating from Moody’s on the City’s water revenue bond passed by citizens two years ago. Higher bond ratings reduce interest expense for ratepayers and taxpayers.

This is the fourth year in a row that the City has qualified for GFOA’s Certificate of Achievement award and the third year in a row to win recognition for publishing a quality popular version. The GFOA’s Certificate of Excellence in Financial Reporting Program has been promoting the preparation of high quality financial reports since 1945 and historically played a major role in improving the quality of financial reporting in the public sector. More than 3,500 governments participate in the program each year. Participants include governments of all levels (state and local), types (general-purpose and special-purpose), and sizes.

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Note: The GFOA is a non-profit professional association serving approximately 16,000 government finance professionals with offices in Chicago, IL and Washington, D.C.

Note: The City of Pocatello is a municipal corporation of Idaho, with a population of 54,572.