Title
Presentation of Budget Award
Summary
MEETING DATE: December 15, 2009
DEPARTMENT: Finance
CONTACT: Jennifer Fung, Executive Director of Finance
RECOMMENDED CITY COUNCIL ACTION: Acceptance of the Award
ITEM SUMMARY:
• The Government Finance Officers Association of the United States and Canada (GFOA) presented an award for Distinguished Budget Presentation to the City of McKinney for its annual budget for the fiscal year beginning October 1, 2008.
• This award is the highest form of recognition in governmental budgeting and represents a significant achievement by the City of McKinney.
• In order to receive this award, a government unit must publish a budget document that meets program criteria as:
o a policy document
o a financial plan
o an operations guide
o a communications device
• This is the 25th consecutive year the City has received this award.
• The award is valid for a period of one year. We believe our budget document for FY2009 continues to conform to the requirements of the program, and will be submitted for another award.
BACKGROUND INFORMATION:
• Since the inception of the GFOAs Distinguished Budget Presentation Awards Program in 1984, approximately 1,165 entities have received the Award.
• The GFOAs Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.
FINANCIAL SUMMARY: None
BOARD OR COMMISSION RECOMMENDATION: N/A