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<br /> <br />are being funded by utilizing excess fund balances and previously issued debt that had been stranded. <br />Withthe associated fund draw downs, the remaining fund balances continue to meet operational objectives <br />andcurrent fiscal policies. <br />Awards and Acknowledgements <br />The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence <br />i n Financial Reporting to the City for its comprehensive annual financial report for the fiscalyear ended <br />September 30, 2015.This was the thirty-fifth consecutive year that the City has received this prestigious <br />award. In order to be awarded a Certificate of Achievement, the City published aneasily readable and <br />efficiently organized comprehensive annual financial report. This report satisfied bothgenerally accepted <br />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 comprehensive <br />annual financial report continues to meet the Certificate of Achievement Program's requirements andwe are <br />submitting itto the GFOA to determine its eligibility for another certificate. Inaddition, the government <br />also received the GFOA Distinguished Budget Award for itsannual budgetdocument. In order to qualify <br />for the Distinguished Budget Presentation Award, the government's budgetdocument was judged to be <br />proficient i n several categories, including as a pol icy document, a financialplan, an operations guide and <br />a communications device. Other financial awards to the City are the Popular Financial Report Award from <br />Transparency Stars Award from the State of Texas Comptroller and the Achievement of Excellence in <br />Procurement Award from the National Procurement Institute. <br />The preparation of this report would not have been possible without the efficient and dedicated services of <br />the entire staff of the finance andadministration department. We would like to express our appreciation to <br />all members of the department who assisted and contributed to the preparation of this report. Credit also <br />must be given to the mayor andcity council for their unfailing support for maintaining the highest standards <br />of professionalism in the management of the City of La Porte's finances. <br />Respectfully submitted, <br /> <br />vi <br /> <br /> <br />