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this report. For the past fifteen years (years ended December 31, 1990 through 2004) the City <br />has received an unqualified audit opinion. The auditors' reports related specifically to the single <br />audit are included in a separately filed report. <br />Awards. The Government Finance Officers Association of the United States and Canada <br />(GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City <br />of South Bend for its comprehensive annual financial report for the fiscal year ended December <br />31, 2004. This was the fifteenth consecutive year that the City has achieved this prestigious <br />award. In order to be awarded a Certificate of Achievement, a government unit must publish an <br />easily readable and efficiently organized comprehensive annual financial report. This report <br />must satisfy both 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 <br />Program's requirements, and we are submitting it to the GFOA to determine its eligibility for <br />another certificate. <br />Acknowledgments. The preparation of the comprehensive annual financial report was made <br />possible by the dedicated service of the City =s fiscal officers and the entire staff of the <br />Department of Administration and Finance. Each member of the Department has my sincere <br />appreciation for the contributions made in the preparation of this report. In addition, I would like <br />to thank the Field Examiners of the State Board of Accounts for their hard work and dedication <br />in this effort. <br />In closing, without the leadership and support of Mayor Stephen J. Luecke, the City's <br />Department Heads, and the members of the City Council, preparation of this report would not <br />have been possible. <br />Sincerely, <br />r <br />M. Catherine Fanello, C Thomas J. Skarbek, CPA <br />City Controller Director of Budgeting & Financial Reporting <br />xvi <br />