Schaumburg Receives Distinguished Budget Presentation Award

The Village of Schaumburg announced it has received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for meeting the highest principles of governmental budgeting. This is the third year in a row the village has received this distinction.

"This is a testament to the village's ongoing pledge to maintain best practices in government budgeting," Director of Finance Lisa Happ said. "This document is a collaborative effort, and I thank all those involved in the process who worked meticulously to put together a top-notch financial plan for all stakeholders in the village."

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.

"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," Village Manager Brian Townsend said.

Schaumburg's fiscal year budget 2016-17 is available on the village's website at http://bit.ly/vosbudgets.

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 is a major professional association servicing the needs of more than 18,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. The association's headquarters is based in Chicago with offices in Washington D.C. The Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting. For more information, visit www.gfoa.org.