The Government Finance Officers Association of the United States and
Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial
Reporting to the Sacramento Housing and Redevelopment Agency for its comprehensive annual
financial report (CAFR). The 2014 award marks the 22nd year in a row that SHRA has received
the recognition.

The Certificate of Achievement is the highest form of recognition
in the area of governmental accounting and financial reporting, and its attainment represents a
significant accomplishment by a government and its management.

The Agency also received the Meritorious Budget Award for Fiscal Year 2014 for excellence in
municipal financial reporting. This is the third consecutive year that the Agency has earned the
award presented by the California Society of Municipal Finance Officers.

SHRA operates on a calendar fiscal year from January 1 to December 31. The Agency has a FY 2014 budget of $167.6 million and 225 employees.