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and deferring principal for two years in anticipation of the economy improving. The construction bids also came considerably under budget by approximately $24.5 million. The Board of Commissioners' initiative to build a sustainable community consists of many efforts. Among them are programs in the county organization and retrofits of county facilities to conserve energy and water. Other organization efforts include maximizing the prevalence or reusable products, minimizing the use of those that are disposable and purchasing products that contain recycled content when possible and feasible. The county's fleet of vehicles is much more fuel efficient and emits fewer emissions. These measures conserve natural resources and tax dollars. The Board's sustainable community initiative also includes many outwardly-directed elements: One is a multifaceted approach to developing a more robust local food economy. Another is the use of land use plans and regulations that seek to direct development into the municipalities and encourage rural preservation in the unincorporated areas that lack infrastructure. A new element to this initiative is recommended for FY2010: the establishment of a trust fund to support a local food economy and the purchase of conservation easements. Money will come from the payment of deferred taxes on property removed from the present-use value system, providing a rational nexus between the program and its funding source. This period of economic contraction and hardship we are in offers additional opportunities to build upon what was already begun. In the absence of the immediate pressures resulting from growth and development, our local governments and businesses can collaborate to better position our community for a greener and more prosperous future, one that focuses on the triple bottom line (a healthy environment; a sound, conservative financial position; and social equity), is more independent and enjoys some insulation from the volatility and whims of globalization. One such opportunity is a joint planning effort with the Town of Harrisburg (which follows a very similar and successful effort with Concord). This plan will be completed in FY2010 and is envisioned to be very broad in nature, planning for and implementing measures aimed at sustainable development patterns and economic development, the board of Commissioners hopes to engage each local government in the county in similar efforts. Another opportunity is found in a newly formed sustainability council, housed at the Cabarrus Regional Chamber of Commerce. This effort provides a forum for business and government to share and collaborate along the path to realizing a positive triple bottom-line for the community we call home. 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 Cabarrus County for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2008. This was the twenty- fourth consecutive year that Cabarrus County has received this prestigious award. In order to be awarded a Certificate of Achievement, the County must publish an easily readable and efficiently organized Comprehensive Annual Financial Report whose contents conform to program standards. Such reports 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 report continues to conform to the Certificate of Achievement Program requirements, and we are submitting it to the GFOA. In addition, the County also received the GFOA's Distinguished Budget Presentation Award for its annual budget document for the fiscal year ended June 30, 2009. In order to qualify for the Distinguished Budget Presentation Award, the county's budget document was judged to be proficient in several categories, including as a policy document, a financial plan, an operations guide, and a communications device. This was the twelfth year that Cabarrus County has received this prestigious award. G-8 Attachment number 3 Page 278