The Village of Schaumburg is pleased to announce it has once again received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for meeting the highest principles of governmental budgeting.
“Receiving this award demonstrates the village’s ongoing commitment to maintain best practices in government budgeting,” said Director of Finance Lisa Petersen. “We’re honored to be recognized for the collaborative effort that it takes to craft a responsible and organized budget plan that will efficiently serve the community for the fiscal year.”
To receive the significant achievement, Schaumburg satisfied nationally recognized guidelines for effective budget presentation. The guidelines assess how well an organization’s budget serves as a policy document, a financial plan, an operations guide, and a communications device. Budget documents must achieve a proficiency rating in all four categories, including 14 mandatory criteria within those categories, to receive the award.
The annual budget is a policy document that sets the financial course for the village and defines the service priorities for the community. It is the culmination of months of effort by the entire village staff led by Assistant Village Manager Paula Hewson, Assistant to the Village Manager Clayton Black, and the Finance Department to balance available resources with the services provided to Schaumburg residents, businesses and visitors.
“I am proud that the Village of Schaumburg’s budget continues to meet nationally recognized guidelines for effective budget presentation; this is certainly no small achievement, and it demonstrates the value in which the village places on this important process,” said Village Manager Brian Townsend. Schaumburg’s fiscal year 2021-22 budget is available on the village’s website.
Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.
The Government Finance Officers Association (GFOA) advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve. For more information, visit their website.