The City of Lone Tree’s Finance Department is known and recognized for their financial trust and transparency. The team of six is responsible for managing and safeguarding the City’s financial resources through careful, diligent planning and transparency.
Cover of the 2021 Annual Comprehensive Financial Report.
One of the team’s most recent achievements is the 2021 Annual Comprehensive Finance Report (ACFR), accepted by the Lone Tree City Council on June 20, 2022. The 171-page document is an accumulation of months of work by the City’s Finance Department, the Lone Tree Citizen’s Audit Committee, and third-party auditors Haynie & Company. You can read the full report here.
Peter Frenchman, CPA, who has served on the Citizen’s Audit Committee for seven years, says: “Everything was done really well, which I think is shown in the recognition they get every year and the clean audit opinions. The feedback is always extremely positive.”
The City’s finance team has consistently displayed excellence and received recognition. Their annual ACFR has earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for the past 13 years. They have also received the Distinguished Budget Presentation Award for excellence in municipal budget reporting from the GFOA since 2015.
However, being good stewards of public funds goes beyond financial reporting. In 2021, the City’s total revenue was over budget by $3.8 million; general fund expenditures did not exceed the budgeted amount; the City ended with a working reserve according to City policies; and the City invested $8.5 million in infrastructure projects such as street overlay, the Sky Ridge Avenue emergency bridge repair, storm sewer improvements and traffic signal improvements.
The City of Lone Tree’s Finance Department has also kept busy managing the additional revenue from the passage of ballot question 2E in November 2021. 2E increased Lone Tree’s sales tax by 1%, ensuring future fiscal stability for the City.
The additional revenue makes it possible for the City to continue services such as collecting trash and recycling for residents at no charge as well as providing top-notch, free shuttle services through the Link on Demand program. 2E also funded investments in public safety, street improvements, several beloved community events, and continued perks for residents such as free pool days.
From the tangible results seen in daily life to their award-winning work, the City of Lone Tree Finance Department shows the best in government financial management and reporting.
“Since I started with the City in 2013, the Finance team has always had exceptional leaders at the helm with Kristin Baumgartner and now Ulli Nierling,” says Accounting Manager Heather Lunde.
“The City’s ability to consistently receive awards demonstrates the commitment by City Council and City Staffstaff and Council to be diligent stewards of the financial resources that have been entrusted to us by ensuring the funds are appropriated in ways that align with the strategic plan of the City.”