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Achieving these goals and strategies are not expected to have a significant financial impact however. It <br />is expected that a portion of existing resources will be redirected to the extent possible. In addition, it is <br />expected that future debt obligations will decline which will allow existing resources dedicated to debt <br />service to be re-purposed. <br />Awards and Acknowledgements <br />The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement far <br />Excellence in Financial Reporting to the City of Roseville for its comprehensive annual financial report <br />(CAFR) for the fiscal year ended December 31, 2015. This was the 37th consecutive year that the city <br />has received this prestigious award. In order to be awarded a Certificate of Achievement, the <br />government published an easily readable and efficiently organized CAFR. This report satisfied both <br />GAAP and applicable legal requirements. <br />A Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR <br />continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the <br />GFOA to determine its eligibility for another certificate. <br />In addition, the government also received the GFOA's Distinguished Budget Presentation Award for its <br />annual budget document dated January 1, 2016. In order to qualify for the Distinguished Budget <br />Presentation Award, the government's budget document was judged to be proficient in several <br />categories, including as a policy document, a financial plan, an operations guide, and a communications <br />device. <br />The preparation of this report would not have been possible without the dedicated services of the <br />Finance Department Staff. I would like to express my appreciation to all members of the departlnent <br />who assisted and contributed to the preparation of this report. Credit must also be given to the Mayor <br />and the City Council for their unfailing support for maintaining the highest standards of professionalism <br />in the management of the City of Roseville's finances. <br />Respectfully submitted <br />Christopher K. Miller <br />Finance Director <br />n <br />� <br />