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uertificate <br /> i <br /> Achievement <br /> for Excellence <br /> in I <br /> Financial <br /> Reporting <br /> i <br /> Presented to <br /> City of Elk River <br /> Minnesota <br /> For its Comprehensive Annual <br /> Financial Report <br /> for the Fiscal Year Ended <br /> December 31, 2011 <br /> A Certificate of Achievement for Excellence in Financial <br /> Reporting is presented by the Government Finance Officers <br /> Association of the United States and Canada to <br /> government units and public employee retirement <br /> systems whose comprehensive annual financial <br /> reports (CAFRs)achieve the highest <br /> standards in government accounting <br /> and financial reporting. <br /> 41�MN � President <br /> O <br /> Executive Director <br /> 4 <br />