The Government Finance Officers Association of the United States and Canada (GFOA) recently named the Town of Wake Forest as the recipient of the GFOA’s Distinguished Budget Presentation Award for its fiscal year 2020-21 annual budget. This marks the seventh consecutive year Wake Forest has earned the GFOA honor.
The award represents a significant achievement by the Town and reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. To receive the budget award, Wake Forest was required 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 and the 14 mandatory criteria within those categories to receive the award.
When a Distinguished Budget Presentation Award is granted, 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. This has been presented to the Town of Wake Forest Finance Department. By earning the award, the Finance Department satisfies one of the objectives outlined in Goal 4 of the Town’s strategic plan: Enhance Fiscal Strength.
For budgets beginning in 2020, over 1,600 participants 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 major professional association servicing the needs of over 20,500 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington D.C. The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.
For more information, contact Chief Financial Officer Aileen Staples at 919-435-9461 or [email protected].