SOUTH GATE : City’s Financial Report Wins Award

A national finance association has recognized the city for a recent comprehensive annual financial report that demonstrated a “constructive spirit of full disclosure” of the city’s economic picture.

South Gate was one of 126 California cities awarded a “certificate of achievement for excellence in financial reporting” by the Government Finance Officers Assn. of the United States and Canada, a nonprofit organization representing more than 12,000 public finance professionals.

The 84-page document reviewed the city’s accounting structure, budgetary controls, investment plans and cash management during fiscal 1990-91.

Karen M. Plover, South Gate’s director of finance, predicted that the award will help give the city a competitive edge for future investments. It was the first time the city applied for the annual award.

“It is a great accomplishment,” Plover said. “It gives prestige to the city and the community. It puts us in a standing for a better credit rating.”

Plover credited her staff with compiling an “accurate report” that reflected the city’s strong financial standing.

“I’m so excited,” Plover said. “And our staff is thrilled to death. They worked so hard to get this.”