Mayor Mike Duggan | City of Detroit website
Mayor Mike Duggan | City of Detroit website
The City of Detroit has been recognized for its commitment to excellence in budgeting by receiving the Government Finance Officers Association's Distinguished Budget Presentation Award for its Fiscal Year 2024 Budget. This prestigious award reflects the city's adherence to the highest principles of governmental budgeting and marks the first time Detroit has received the award in 11 years.
"We are proud to resume receiving the Distinguished Budget Presentation Award from GFOA," said Steve Watson, Deputy Chief Financial Officer and Budget Director. "The Budget team is committed to accurately reflecting the City's financial and policy priorities in a transparent, accessible, and thorough annual Budget document."
The City of Detroit's award-winning budget can be found on the Office of Budget's webpage at detroitmi.gov/budget. This comprehensive budget document showcases national best practices in planning and communication and serves as a policy document, financial plan, operations guide, and communication tool.
To receive this esteemed award, Detroit had to meet nationally recognized guidelines for effective budget presentation. The budget documents were evaluated based on their ability to serve as a clear policy document, a robust financial plan, a practical operations guide, and an effective communication tool. Detroit's budget received a "proficient" rating in all four categories and met the fourteen mandatory criteria within those categories.
The Government Finance Officers Association's Budget Awards Program is highly competitive, with over 1,700 participants. The award recipients are considered pioneers in improving the quality of budgeting and serve as an excellent example for other governments throughout North America.
This recognition is a testament to the collaborative efforts of the Mayor, City Council, Legislative Policy Division, Office of the Chief Financial Officer, and all the departments citywide that participate in the budget process. The City of Detroit is dedicated to transparent and responsible budgeting, ensuring that the financial resources are allocated effectively to meet the needs of its residents.
As part of the tradition, the Award certificate for Fiscal Year 2024 will be presented in the Mayor's Recommended Annual Budget for Fiscal Year 2025 when it is presented to the Detroit City Council in March 2024. This signifies the commitment of the City to maintaining the highest standards of budgeting year after year.
In conclusion, the City of Detroit's receipt of the Government Finance Officers Association's Distinguished Budget Presentation Award reflects its ongoing dedication to sound financial management and effective communication. With this recognition, Detroit showcases its commitment to transparency and accountability in budgeting, ensuring that the city's financial resources are allocated in a manner that best serves its residents.
Click this link to access more information: https://detroitmi.gov/news/city-detroit-receives-distinguished-budget-award-government-finance-officers-association-first-time
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