The Government Finance Officers Association of the United States and Canada (GFOA) has announced that the Village of River Forest has received the GFOA's Distinguished Budget Award for its FY 2013 Budget. This is River Forest's first such award.
The award represents a significant achievement by the Village. It reflects the commitment of the Village Board and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, the Village had to satisfy nationally recognized guidelines for effective budget presentaton. These guidelines are designed to assess how well an entity's budget serves as:
- A policy document
- A financial plan
- An operations guide
- A communications device
Budget documents must be rated "proficient" in all four categories, and the fourteen mandatory criteria within those categories, to receive the award.
"This award represents the culmination of a significant amount of hard work and dedication of our elected officials and management team," said Eric Palm, Village Administrator. "The budget is the most important document the Village adopts each year and to be recognized by GFOA for our efforts is a proud achievement."
For budgets including fiscal period 2010, over 1,289 entities 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 nonprofit professional association serving 17,500 government finance professionals throughout North America. The GFOA's Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.