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o renovations will be made t several of the Fire/EMS stations that were damaged by the September 2004 hurricanes with an estimated cost of about $11 million. Indian River County has entered into an agreement with Indian River Community College to start construction of a joint -use library for both Indian River County and the college. This additional facility will provide a resource to serve the County's growing population and students of the college and is projected to open in fall 2008. Public Works, Utilities and Community Development are currently proceeding with the design and construction of storm water projects in Vero Lake Estates, East Gifford and Roseland areas. Local funds will be used to match several State grants awarded for these storm water projects. The East Gifford Storm Water Watershed M.S.B.U. was created to account for local non -ad valorem assessments collected as a local match to receive a State grant for a comprehensive storm water improvement project for this area. Implementation of the Storm Water Master Plan as required by The National Pollutant Discharge Elimination System Requirements (NPDES) will reduce the amount of freshwater runoff and chemicals (fertilizers, pesticides, herbicides) entering the Indian River Lagoon. Awards and Acknowled e� ments The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Indian River County for its comprehensive annual financial report (CAFR) for the fiscal year ended September 30, 2005. This was the 23rd consecutive year that the County has received this prestigious award. 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, Indian River County also received the GFOA's Distinguished Budget Presentation Award for its annual budget document for the 2005-2006 fiscal year. This was the 15th consecutive year that the County has received this prestigious award. In order to qualify for the Distinguished Budget Presentation Award, the County's budget document had to be judged proficient as a policy document, financial plan, operations guide, and communications device. Summary I would like to thank the entire staff of the Finance Department for their invaluable assistance in the preparation of this report. I would also like to thank the Board of County Commissioners and their staff, and the other Constitutional Officers for their personal interest and unfailing support in planning and conducting the financial operations of the County in a responsible and progressive manner. Respectfully submitted, Jeffrey K. Barton L Clerk of the Circuit Court and Comptroller JKB/ms iv