2003 Annual Comprehensive Financial Report

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OTHER INFORMATION Independent Audit. State statutes require an annual audit by independent certified public accountants. The accounting firm of Swanhorst and Cutler, LLC was retained by City Council for this purpose. The auditors' report on the basic financial statements and other schedules is included in the financial section of this report. Awards. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Louisville for its Comprehensive Annual Financial Report for the fiscal year ended December 31, 2002. The City of Louisville has received a Certificate of Achievement for the last thirteen consecutive years. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized Comprehensive Annual Financial Report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. In addition, the City of Louisville also received the GFOA's Award for Distinguished Budget Presentation for the 2003 fiscal year. This was the fourteenth consecutive year the City of Louisville has received this award. In order to qualify for the Distinguished Budget Presentation Award, the City's budget document was judged to be proficient as a policy document, financial plan, operations guide, and communications device. Acknowledgments. The preparation of the Comprehensive Annual Financial Report on a timely basis was made possible by the dedicated service of the entire staff of the Finance Department. We would like to express our sincere appreciation to all members of the department for the contributions made in the preparation of this report. Lastly, we would like to thank the Mayor, and City Council Members for their direction, interest, and support in planning and conducting the financial operations of the City in a responsible and progressive manner. Sincerely, Gail-4444. A ifilmq4Civo \--742A-ce-fa Zeziu William A. Simmons Patricia A. Leslie City Manager Director of Finance 4