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Awards and Acknowledgements. <br /> <br />The Government Finance Officers Association of the United Stated and Canada (GFOA) awarded a <br />Certificate of Achievement for Excellence in Financial Reporting to the City of Elk River for its <br />comprehensive annual financial report (CAFR) for the fiscal year ended December 31, 2002. This was <br />the fourteenth consecutive year that the City has received this prestigious award. In order to be awarded <br />a Certificate of Achievement the government must publish an easily readable and efficiently organized <br />comprehensive annual financial report. This report must satisfy both generally accepted accounting <br />principles and applicable legal requirements. <br /> <br />A Certificate of Achievement is valid for a period of one year only. We believe that our current <br />Comprehensive Annual Financial Report continues to meet the Certificate of Achievement program <br />requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. <br /> <br />The preparation of this report is made possible by the dedicated efforts of the entire Finance Department <br />staff. However, special recognition goes to the Assistant Finance Director, Lori Ziemer, for her expertise <br />and diligence in completing this report. I would also like to acknowledge the Mayor and City Council for <br />their continued support. The Council's understanding of the benefits of financial planning along with <br />their efforts to maintain sound financial management practices and high financial standards will benefit <br />the City for years to come. <br /> <br />Respectfully submitted, <br /> <br />Lori Johnson <br />Finance Director <br /> <br /> <br />