November 9, 2005
Contact: Sue Baker 738-2000
For Immediate Release
Olsen named to national financial committee
WARWICK– City Treasurer David Olsen has been named to the Government Finance Officers Association’s (GFOA) Committee on Cash Management, Mayor Scott Avedisian announced today.
Olsen’s three-year term begins on January 1, 2006 and will require attendance at twice-annual meetings as well as conference calls. The appointment will afford Olsen the opportunity to exchange with other financial professionals in the United States and Canada ideas on investment procedures and policies, as well as new ways to invest city funds in order to maximize the municipality’s returns on its investments.
In August, for the second consecutive year, the GFOA awarded the city’s Finance and Treasury departments its Certificate of Achievement for Excellence in Financial Reporting for the its comprehensive annual financial report (CAFR). The certificate is the highest form of recognition in the area of governmental accounting and financial reporting. GFOA says “its attainment represents a significant accomplishment by a government and its management.”
It is in part because of the award that GFOA leadership became familiar with Olsen and his work as treasurer, a post he has held for nine years.
“I am very excited about this appointment because it will allow me to help the city build on its reputation of fiscal responsibility. The opportunity I will have to share investment ideas and examine financial policies and procedures will only further help Warwick taxpayers in the future,” Olsen said.
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