The City of Lake Forest has again been awarded the Government Finance Officers Association Distinguished Budget Presentation Award for the fiscal year 2020 budget document. The Distinguished Budget Presentation Award is the highest form of recognition in governmental budgeting, and its attainment is a significant accomplishment by a government and its management.
The GFOA states that “In order to receive the budget award, the entity had 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, a financial plan, an operations guide and a communications device.”
For budgets beginning in 2018, only 1,604 units of government received the award nationally, which is 1.8% of the 89,000 units of government in the United States.
The GFOA is a nonprofit professional association founded in 1906 and currently serving more than 20,000 elected and appointed government finance professionals in the United States and Canada.