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value measurement for financial reporting purposes and for applying fair value to certain investments and disclosures related to all fair value measurements. Awards and Acknowledgements 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, 2015. This was the 33rd 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. Indian River County also received the GFOA's Award for Outstanding Achievement in Popular Annual Financial Reporting for the fiscal year ended September 30, 2015. This was the first Popular Annual Financial Report (PAFR) produced for the residents of Indian River County. This program was developed by the GFOA to encourage and assist governments to extract information from the CAFR to produce a high-quality report specifically designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance. In addition, Indian River County also received the GFOA's Distinguished Budget Presentation Award for its annual budget document for the 2015-2016 fiscal year. This was the 25th 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. 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 support in planning and conducting the financial operations of the County in a responsible and progressive manner. Finally, thanks to the citizens for the trust you continue to place in your County and those who work to serve you. Respectfully submitted, Jeffrey R. Smith, CPA, CGFO, CGMA Clerk of the Circuit Court and Comptroller vi