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MAJOR INITIATIVES Since 1990, the City has been attempting to provide improved services to a dramatically increasing number of households in a time of fiscal constraints at the state level. From the 1990 census to the 2010 projection, Ramsey's population has increased by 95%. At the same time, aids from the state of Minnesota have decreased. In 2012, The City's Housing and Redevelopment Authority (HRA) continued its work on Ramsey's downtown development The COR. Construction on the Ramsey Station for the Minnesota Northstar commuter rail is complete and the station is now operational. The Ramsey Station is a key component for the success of projects within The COR, thus it has been the city's top priority for transportation improvements. CERTIFICATE OF ACHIEVEMENT The Government Finance Officers Association of the United States and Canada (GFOA) awarded the Certificate of Achievement for Excellence in Financial Reporting (CAEFR) to the City for its CAFR for the year ended December 31, 2011. This was the eighteenth consecutive year the City has received this prestigious award. Also, the City had previously received the award from 1981 through 1988, after which the City did not participate in the program for several years. The CAEFR is valid for a period of one year only. We believe our current CAFR continues to meet the CAEFR Program's requirements and we are submitting it to the GFOA to deteiniine its eligibility for another certificate. ACKNOWLEDGMENT The 2012 CAFR of the City meets the highest professional standards and was prepared in a timely and cost-effective manner. This could never have been accomplished without the excellent work of the entire Finance Department. We would like to express our appreciation to the Finance Department and all members of the City's staff who contributed to its preparation. Respectfully submitted, Kurt Ulrich City Administrator Diana Lund Finance Director 17