The City of Wadena received the Certificate of Achievement for Excellence in Financial Reporting. The certificate, awarded by the Government Finance Officers Association of the United States and Canada, is the highest form of recognition in the area of governmental accounting and financial reporting.

The award recognizes that Wadena's comprehensive annual financial report (CAFR) meets criteria that most cities' reports do not. In Minnesota, just 3.25 percent of all cities and counties receive the award, which was presented for the 2003 financial report. The city has earned the award eleven consecutive years.