ITEM TITLE:
Report - GFOA Distinguished Budget Award
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: n/a
Funding Source: n/a
RECOMMENDATION:
Receive and file
SUMMARY STATEMENT:
For the 6th consecutive year, the City of Valdez Finance Department has been awarded the Government Finance Officers Association (GFOA) Distinguished Budget Award.
To earn recognition, budget documents must meet program criteria and excel as a policy document, financial plan, operations guide, and communication tool. This represents the 10th Award of GFOA’s Distinguished Budget Award to City of Valdez since the program’s inception in 1984, established to encourage and assist state and local governments to prepare budget documents of the very highest quality.
Having a document of nationally recognized standards is a significant achievement, however, the Finance Department’s priority lies in creating a document that is readable, communicative, and digestible as it relates to the City’s financial plan and we openly seek feedback from the Public, City Council, and City Staff on improvements to content, graphics, and readability of the document.
A letter from GFOA is included that suggests corrective action related to the refinement of Performance Measures in order to continue to be eligible for future awards. Staff is committed to ensuring these criteria are established for the best interest of the organization in order to demonstrate results via the Budget Document.
In an effort to keep packet size minimal please see the final document online at: valdezak.gov > Departments > Finance > Budget and Financial Statements > 2024 Adopted Budget
City Budget and Financial Statements | Valdez, AK - Official Website <https://www.valdezak.gov/318/City-Budget-and-Financial-Statements>