The Government Finance Officers Association of the United States and Canada (GFOA) recently announced that the City of Prescott Finance Department has been honored with the Distinguished Budget Presentation Award for the FY 2025 Annual Budget. This is the 23rd consecutive year that the City of Prescott has received this award.
According to GFOA, “The award represents a significant achievement by the entity. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. 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
- a communications device
Budget documents must be rated “proficient” in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award. When a Distinguished Budget Presentation Award is granted to an entity, a Certificate of Recognition for Budget Presentation is also presented to the individual(s) or department designated as being primarily responsible for having achieved the award. This has been presented to Budget and Finance Department.
“I am very pleased that the City of Prescott has continued to excel in this area of budget reporting,” said City Manager Dallin Kimble. “Our entire leadership team is committed to transparency in government spending, and we continue to make strides to improve in this area.”
There are over 1,700 participants in the Budget Awards Program. The most recent Budget Award recipients, along with their corresponding budget documents, are posted quarterly on GFOA’s website. Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America. Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 22,500 members and the communities they serve.
The FY 2025 “City Budget Document” is available at https://prescott-az.gov/budget-and-finance/budget-reports/ along with the five prior years of budget documents and annual financial reports.
For more information, contact the Finance Department at 928-777-1408.