The Village of Schaumburg announced it has received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for meeting the highest principles of governmental budgeting. This is the fifth year in a row the village has received this distinction.
“This is a great recognition that demonstrates the village’s continued commitment in achieving the highest principles of government budgeting,” said Director of Finance Lisa Happ Petersen. “We’re proud to produce a professional and transparent budget that satisfies national guidelines for effective budget presentation.”
The national guidelines achieved by Schaumburg assess how well an organization’s budget serves as a policy document, a financial plan, an operations guide and a communications device. Budget documents must be rated proficient in all four categories and in the 14 mandatory criteria within those categories to receive the award.
“The annual budget is a policy document that commits staff and financial resources to areas of priority defined by the Village Board,” said Village Manager Brian Townsend. “The budget is the culmination of months of effort by village staff to balance available resources with the services provided, and I am proud that the village has been nationally recognized for presenting a document that is easy-to-understand, transparent and clearly states the village’s objectives for the fiscal year.”
Townsend added, “I’d like to specifically recognize and thank Assistant Village Manager Paula Hewson, Finance Director Lisa Happ Petersen, Assistant Finance Director Rosemary McAdams, and Management Analyst Clayton Black for their efforts in crafting this award-winning budget.”
Schaumburg’s fiscal year budget 2018-19 is available on the village’s website at http://bit.ly/vosbudgets.
The Government Finance Officers Association established the Distinguished Budget Presentation Awards Program (Budget Awards Program) in 1984 to encourage and assist state and local governments to prepare budget documents of the very highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the GFOA’s best practices on budgeting. Individual governments that meet those goals are then recognized through the program. The Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting. For more information, visit www.gfoa.org.