City of Iowa City Finance Director Dennis Bockenstedt has been notified that for the fourth consecutive year, the City’s Finance Department has been awarded the national Distinguished Budget Presentation Award by the Government Finance Officers Association (GFOA). The award, which is the highest form of recognition in governmental budgeting, recognizes the City’s FY2016 budget, which took effect July 1, 2015. The City also won the award in 2012, 2013, and 2014, after a nearly 20-year hiatus in which a budget document was not submitted for consideration.
The GFOA notes that this award represents significant achievement and a commitment to meeting the highest principles of governmental budgeting. To receive the budget award, the City had to satisfy nationally recognized guidelines for effective budget presentation which assessed the budget’s effectiveness in four categories: as a policy document, financial plan, operations guide, and communications device. As part of the review, budget documents must be rated highly in all four of these categories, as well as the 14 mandatory criteria within those categories. The City’s budget was scored by three different reviewers, and in each area of consideration received one of the two highest rankings: “outstanding” or “proficient.”
The Government Finance Officers Association is a nonprofit professional association serving over 18,000 government finance professionals throughout North America. For the last fiscal period, 1,424 entities were expected to receive the Distinguished Budget Presentation award.