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<br /> vi <br />limits during each fiscal year. Article XIIIB also sets the guidelines as to what is to be included in the appropriation <br />limits. <br /> <br />The appropriation limit for Redwood City for FY 2016-17 was $648,487,191 while the actual appropriations <br />subject to the limit amounted to $97,696,342. The 2016-17 appropriation limit increased from FY 2015-16 due <br />primarily to the increase (5.37%) in per capital personal income, one of the factors used in calculating the change <br />in the appropriation limit. <br /> <br />OTHER INFORMATION <br />Annual Independent Audit <br />The annual audit of the books and financial records of the City was completed by Badawi and Associates, certified <br />public accountants appointed by the City Council. The independent auditor's report is part of this report, starting <br />on page 1. <br /> <br />Awards <br />The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in <br />Financial Reporting to the City of Redwood City for its Comprehensive Annual Financial Report (CAFR) for the <br />fiscal year ended June 30, 2016. This is the 30th consecutive year that Redwood City has received this prestigious <br />award. In order to be awarded a certificate of achievement, a government must publish an easily readable and <br />efficiently organized comprehensive annual financial report. This report must satisfy both accounting principles <br />generally accepted in the United States of America and applicable legal requirements. A certificate of <br />achievement is valid for a period of one year only. We believe that our current CAFR continues to meet the <br />certificate of achievement program's requirements and are submitting it to the GFOA to determine its eligibility <br />for another certificate. <br /> <br />Acknowledgements <br />The preparation of this report could not have been achieved without the skillful, dedicated and efficient services <br />of the entire staff of the Finance Division. I would like to extend special recognition to Derek Rampone for his <br />professionalism and leadership in overseeing this process. Special thanks must also be expressed to Jennifer <br />Chang, Molly Flowerday, Carolyne Kerans, Jun Nguyen, and Sylvia Peters for their important contributions, and to <br />Nancy Murguia for her support with the publication of this document. <br /> <br />I would also like to thank and commend the City Council and City Manager for their ongoing interest and support <br />in planning and conducting the financial operations of the City in a responsible and progressive manner in the <br />best interests of the residents of Redwood City. <br /> <br />Respectfully submitted, <br /> <br /> <br /> Kimbra McCarthy <br />Assistant City Manager of Administrative Services <br />City of Redwood City <br />Redwood City, California <br />6.1.E. - Page 17