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Major Initiatives <br />Following the completion of a comprehensive city-wide drainage plan, City Council directed staff to <br />alleviate affected neighborhoods from surface water flooding. Consequently, in 2010, the City issued <br />$6.28 million in certificates of obligation to be spent on engineering and construction projects. In 2011 <br />the City was also a recipient of the second round of disaster recovery funds of $4.1 million which will <br />also alleviate flooding on surface roads. <br />Awards and Acknowledgements <br />The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for <br />Excellence in Financial Reporting to the City for its comprehensive annual financial report for the fiscal <br />year ended September 30, 2010. This was the thirtieth consecutive year that the City has received this <br />prestigious award. In order to be awarded a Certificate of Achievement, the City published an easily <br />readable and efficiently organized comprehensive annual financial report. This report satisfied both <br />generally accepted accounting principles and applicable legal requirements. <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's <br />requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. In <br />addition, the government also received the GFOA’s Distinguished Budget Award for its annual budget <br />document. In order to qualify for the Distinguished Budget Presentation Award, the government’s budget <br />document was judged to be proficient in several categories, including as a policy document, a financial <br />plan, an operations guide and a communications device. The preparation of this report would not have <br />been possible without the efficient and dedicated services of the entire staff of the finance and <br />administration department. We would like to express our appreciation to all members of the department <br />who assisted and contributed to the preparation of this report. Credit also must be given to the mayor and <br />city council for their unfailing support for maintaining the highest standards of professionalism in the <br />management of the City of La Porte’s finances. <br />Respectfully submitted, <br />v <br /> <br />