04/15/2008 ~ The Government Finance Officers Association of the United States and Canada (GFOA) recently announced that the Utility Board of the City of Key West has received the GFOA’s Distinguished Budget Presentation Award for the fifth straight year.
The award represents a significant achievement by the entity and 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 has to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity’s budget serves as a: policy document; financial plan; operations guide; and communications device. Budget documents must be rated “proficient” in all four categories to receive the award.
When a Distinguished Budget Presentation Award is granted to an entity, a Certificate of Recognition for Budget Presentation is also presented to the individual or department designated as being primarily responsible for its having achieved the award. The Certificate of Recognition was presented to Keys Energy Services’ Finance Department.
Since the inception of the GFOA’s Distinguished Budget Presentation Award Program in 1984, approximately 900 entities have received the award. Award 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 14,000 government finance professionals throughout North America. The GFOA’s Distinguished Budget Presentation Award Program is the only national awards program in governmental budgeting.