Frisco recognized with Distinguished Budget Presentation Award
August 5, 2014
The town of Frisco announced last week it received the Distinguished Budget Presentation Award for its 2014 budget from the Government Finance Officers Association of the United States and Canada.
Established in 1984, the Distinguished Budget Presentation Awards Program was launched to encourage and assist state and local governments in preparing high-quality documents. The program ensures budgets reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the Government Finance Officers Association's best practices on budgeting, according to the organization's website.
In order to receive the budget award, governments must meet certain guidelines designed to assess how well a budget serves as a policy document, a financial plan, an operations guide and a communications device, according to a town of Frisco news release. Budget documents must be rated "proficient" in all four categories, as well as meet certain criteria in 14 subcategories, to receive the award.
Bonnie Moinet, Frisco's finance director, said the town began submitting materials for the award when she arrived about six years ago. This is the sixth year in a row the town of Frisco has received the Distinguished Budget Presentation Award.
“The budget was a very good document when I arrived, so I thought going through the award process was a logical next step to ensure we are presenting the best information we can to the public. It’s very prestigious because it is a national award.”
Frisco’s finance director
"The budget was a very good document when I arrived, so I thought going through the award process was a logical next step to ensure we are presenting the best information we can to the public," Moinet said. "It's very prestigious because it is a national award."
It takes about six months to prepare all of the materials that are sent to the Government Finance Officers Association, Moinet said. Rather than a series of numbers, the document sent to the organization features town demographic information, history, future budget projections, the town's adopted plans, missions and goals, personnel information, grants to local nonprofits, investments and the town's debt management — which is low, Moinet said.
"It's basically a snapshot of what the town has done, what we're doing and what we hope to accomplish in the future," Moinet said. "It's a team effort and everyone on staff participates. It's definitely not a one-man job."
The town of Frisco was the third Summit County agency to be recognized by the Government Finance Officers Association this year.
In March, the town of Breckenridge received the Government Finance Officers Association's Certificate of Achievement for Excellence in Financial Reporting for its 2012 comprehensive annual financial report. It was the ninth time Breckenridge received the award during a 10-year span.
Also in March, the Red, White and Blue Fire Protection District received the same recognition for its comprehensive annual financial report. It was the third year in a row the fire protection district received the Certificate of Achievement for Excellence in Financial Reporting.
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