City receives budget award for fourth straight year

LINCOLN PARK — For the fourth year in a row, the city has received the Distinguished Budget Presentation Award for its FY 2010-11 budget document from the Government Finance Officers Association.

GFOA officials say the award is the highest form of recognition in governmental budgeting and represents a significant achievement by recipients, in that it reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting.

In order to receive the budget award, the entity had to satisfy nationally recognized guidelines for effective budget presentation. The association rates a budget’s proficiency in four major categories: as a policy document, an operations guide, a financial plan and a communications device.

Budget documents must be rated “proficient” in all four categories, and the 14 mandatory criteria within those categories to receive the award. Attainment of the award represents a significant accomplishment by a governmental entity, its financial staff and its management, association officials say.

For budgets including fiscal 2009, 1,214 entities received the award. GFOA officials say recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.

The GFOA is a nonprofit professional association serving over 17,600 government finance professionals throughout North America. Its distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.