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irrevocable letters of credit. All collateral on deposit was held for safe keeping with a County- <br /> designated agent in the County's name. <br /> Other Information <br /> Independent Audit <br /> The County Charter requires an annual audit by independent certified public accountants. <br /> Accuity LLP was selected in accordance with the County Charter and the procurement <br /> provisions of the Hawaii Revised Statutes (HRS)and Hawaii Administrative Rules (HAR)to <br /> perform the audit. <br /> Employee Union Contracts <br /> County employees are members of eight different bargaining units and all eight bargaining units' <br /> contracts will expire on June 30, 2011. <br /> Certificate of Achievement <br /> The Government Finance Officers Association of the United States and Canada(GFOA) <br /> awarded a Certificate of Achievement for Excellence in Financial Reporting to the County of <br /> Hawaii for its Comprehensive Annual Financial Report for the fiscal year ended June 30,2009. <br /> This was the twenty-second consecutive year that the government has achieved this prestigious <br /> award. In order to be awarded a Certificate of Achievement, a government 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 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 <br /> The preparation of this report was made possible by the efficient and dedicated services of the <br /> entire staff of the Department of Finance and fiscal personnel in other departments. I am grateful <br /> for their help in preparing this report. I also thank the Mayor and the members of the County <br /> Council for their interest and support in assuring the continuing sound financial condition of the <br /> County of Hawaii. <br /> NANCY E. CRAWFORID <br /> Director of Finance <br /> -6- <br />