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OTHER INFORMATION <br />Independent Audit. State statutes require an annual audit by independent <br />certified public accountants. The accounting firm of Eide Bailly LLP was retained <br />by City Council for this purpose. The auditors' report on the Basic Financial <br />Statements is included in the financial section of this report. <br />Awards. The Government Finance Officers Association of the United States and <br />Canada (GFOA) awarded a Certificate of Achievement for Excellence in <br />Financial Reporting to the City of Louisville for its Comprehensive Annual <br />Financial Report for the fiscal year ended December 31, 2010. This was the <br />twenty -first consecutive year that the City of Louisville has received this <br />prestigious award. In order to be awarded a Certificate of Achievement, a <br />government must publish an easily readable and efficiently organized <br />Comprehensive Annual Financial Report. This report must satisfy both generally <br />accepted accounting principles and applicable legal requirements. <br />A Certificate of Achievement is valid for a period of one year only. We believe <br />that our current Comprehensive Annual Financial Report continues to meet the <br />Certificate of Achievement Program's requirements and we are submitting it to <br />the GFOA to determine its eligibility for another certificate. <br />In addition, the City of Louisville also received the GFOA's Award for <br />Distinguished Budget Presentation for the 2011 fiscal year. This was the twenty - <br />second consecutive year the City of Louisville has received this award. In order <br />to qualify for the Distinguished Budget Presentation Award, the City's budget <br />document was judged to be proficient as a policy document, financial plan, <br />operations guide, and communications device. <br />Acknowledgments. The preparation of this report would not have been <br />possible without the efficient and dedicated efforts of the entire City staff. We <br />especially thank all members of the City's Finance Department for their <br />exceptional efforts and the staff of Eide Bailly LLP for the professional manner in <br />which they have accomplished our audit and their assistance in the publication of <br />the City's Comprehensive Annual Financial Report. We thank the Mayor and <br />City Council for their effective fiscal and policy direction and their support in <br />planning and conducting the financial operations of the City in a responsible and <br />progressive manner. <br />Respectfully Submitted, <br />Malcolm Fleming Kevin C. Watson <br />City Manager Director of Finance <br />5 <br />