HomeMy WebLinkAbout2011 01 24 Informational 101 Distinguished Budget Presentation Award And Certificate Of Achievement For Excellence In Financial Reporting COMMISSION AGENDA
CONSENT
INFORMATIONAL X
ITEM 101 PUBLIC HEARING
REGULAR
January 24, 2011 MGR `DEPT 4 l
Special Meeting Authorization
REQUEST: The Finance Department and the City Manager are pleased to announce that the
City of Winter Springs has received the Distinguished Budget Presentation Award and the
Certificate of Achievement for Excellence in Financial Reporting.
SV'NOPSIS:
The purpose of this Agenda item is to announce that the City has received the Distinguished Budget
Presentation Award (FY 2010) and the Certificate of Achievement for Excellence in Financial Reporting
(FY 2009).
CONSIDERATIONS:
Regarding the Distinguished Budget Presentation Award program, the GFOA has compiled an extensive
set of criteria which would distinguish a budget as a policy document, financial plan, operations guide.
and communications device. Documents submitted to the Budget Award Program are reviewed by
select members of the GFOA professional staff and by. outside reviewers with experience in public -
sector budgeting. To receive the award the document must be rated either proficient or outstanding by
at least two of the three reviewers for all four basic categories, as well as for 14 of the 27 specific criteria
identified as mandatory. It is an honor to convey that the City was notified in June 2010 that vve xvere
awarded the designation for the third consecutive year. The budget document as submitted to GFOA is
available on the City's website.
http:. ww.winterspringsfl.org EN- web find codes "DocsFormsPubs 43915 43924 tinalbudget201 O.htm
We believe our current budget continues to conform to program requirements. In December 2010, the
2011 budget document was submitted to the GFOA to determine its eligibility for another award. The
2010-2011 Budget submission is also available on the City's website.
http:
www.winterspringsfi.org EN 'web find codes DocsFormsPubs `43915 43924 FY201 1.htm
In April 2010, the City submitted the Comprehensive Annual Financial Report for the fiscal year 2008-
2009 to the Government Finance Officer's Association to be considered for the Certificate of Excellence
in Financial Reporting award. Each CAFR is reviewed using a checklist designed to determine
compliance with both generally accepted accounting principles (GAAP) and program policy as
established by the GFOA's Special Review Executive Committee and the GFOA Executive Board.
Reviews are performed by GFOA staff and members of the GFOA's Special Review Committee. ■vhich
comprises individuals from government, the public accounting profession, and academe who possess
specialized expertise in governmental financial reporting, typically as a result of either preparing or
auditing a CAFR that has received the Certificate of Achievement. A Certificate is awarded only if there
is consensus among reviewers that a CAFR substantially complies with both GAAP and program policy.
It is an honor to convey that the City was notified this past fall that we were again being awarded the
Certificate of Excellence in Financial Reporting award for the twelfth year. The 2009 CAFR as
submitted to GFOA is available on the City's website.
http. 'www.winterspringsfl.org *iEN/web/find/codes/ DocsFormsPubs/4391 /43924/cafr2009.htm
When the 2010 audit and CAFR have been completed the CAFR will once again be submitted for the
award with the expectation that it will conform to program requirements.
FISCAL IMPACT:
The award program application fees for the Distinguished Budget Award and the Certificate of
Excellence in Financial Reporting are about S350 and S450, respectively. These fees are routinely
budgeted in Finance and administrative Services (1300 division).
COMMUNICATION EFFORTS:
This Agenda Item has been forwarded to the Mayor and City Commission; City Manager; City
Attorney/Staff; placed in Press Packets; placed in the City Hall (Lobby) City Commission Meeting
binder; and is available on the City's Website, LaserFiche, and the City's Server. Additionally,
information related to this Agenda Item has been sent to media/press representatives who have requested
AgendasAgenda Item information, all Homeowner's Associations on file with the City, all individuals
who have requested Agendas• Agenda Item information, Department Directors; and also posted outside
City Hall; posted inside City Hall with additional copies available for the general public; and posted at
five (5) different locations around the City.
RECOMMENDATION:
Staff requests the City Commission review and accept the information provided in this Agenda Item.
ATTACHMENTS:
Distinguished Budget Award
Notification Letter- Distinguished Budget .award (FY 2010)
Certificate of Excellence in Financial Reporting Award
Notification Letter Financial Reporting Award (FY 2009)
012411 COMM Informational Budget CAFR Awards
•
GOVERNMENT FINANCE OFFICERS ASSOCIATION
D istinguished
u dget Presentation
Award
PRESENTED TO
City of Winter Springs
Florida
For the Fiscal Year Beginning
October 1, 2009
Aree10,- oefflrgert.o.
President Executive Director
G Government Finance Officers Association
203 North LaSalle Street, Suite 2 700
Chicago, Illinois 60601 -1210
312.977.9700 fax: 312.9 77.4806
June 7, 2010
Ms. Kelly Balagia
Budget Analyst/Interim Finance Director
City of Winter Shrines
1126 East State Road 434
Winter Springs, FL 32708
Dear Ms. Balagia:
A Panel of independent reviewers has completed its examination of your budget document. We are
pleased to inform you that the panel has voted to award your budget document the Distinguished
Budget Presentation Award for the current fiscal period. This award is the highest form of
recognition in governmental budgeting. Its attainment represents a significant achievement by your
organization.
The Distinguished Budget Presentation Award is valid for one year. To continue your participation
in the program, it will be necessary to submit your next annual budget document to GFOA within 90
days of the proposed budget's submission to the legislature or within 90 days of the budget's final
adoption. Enclosed is an application form to facilitate a timely submission. This form should be
submitted with four copies of your budget accompanied by the appropriate fee.
Each program participant is provided with confidential comments and suggestions for possible
improvements to the budget document. Your comments are enclosed. We urge you to carefully
consider the suggestions offered by our reviewers as you prepare your next budget.
When a Distinguished Budget Presentation Award is granted to an entity, a Certificate of
Recognition for Budget presentation is also presented to the individual or department
designated as being primarily responsible for its having achieved the award. Enclosed is
a Certificate of Recognition for Budget Preparation for:
Kelly Balagia, Budget Analyst/Interim Finance Director
Your award plaque will be mailed separately and should arrive within eight to ten weeks. Enclosed is
a camera -ready reproduction of the award for inclusion in your next budget. If you reproduce the
camera -ready in your next budget, it should be accompanied by a statement indicating continued
compliance with program criteria.
The following standardized text should be used:
Washington, DC Office
1301 Pennsylvania Avenue, N.W, Suite 309 • Washington, DC 20004 • 202.393.8020 • fax: 202.393.0780
www. gfoa. org
Ms. Kelly Balauia
June 7, 2010
Page 2
The Government Finance Officers Association of the United States and Canada
(GFOA) presented a Distinguished Budget Presentation Award to City of Winter
Springs, Florida for its annual budget for the fiscal year beginning September
28, 2009. In order to receive this award, a governmental unit must publish a
budget document that meets program criteria as a policy document, as an
operations guide, as a financial plan, and as a communications device.
This award is valid for a period of one year only. We believe our current budget
continues to conform to program requirements, and we are submitting it to GFOA
to determine its eligibility for another award.
A press release is enclosed.
The Government Finance Officers Association encourages you to make arrangements for
a formal presentation of the award. If you would like the award presented by a member
of your state or provincial finance officers association, we can provide the name of a
contact person for that group.
We appreciate your participation in this program and we sincerely hope that your example
will encourage others in their efforts to achieve and maintain excellence in governmental
budgeting. The most current list of award recipients (with hyperlinks) can be found on GFOA's
website at www.gfoa.org. If we can be of further assistance, please contact the Technical
Services Center.
Sincerely,
f f?z
Stephen J. Gauthier, Director
Technical Services Center
Enclosure
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Winter Springs
Florida
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2009
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
gov ernment units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in goN eminent accounting
and financial reporting.
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V t .... [c= :Tt'7A ,, /y President
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Executive Director
Government Finance Officers Association
203 N. LaSalle Street - Suite 2700
Chicago, IL 60601
Phone (312) 977 -9700 Fax (312) 977 -4806
November 2, 2010
The Honorable John Bush
Mayor
City of Winter Springs
1126 East S.R. 434
Winter Springs FL 32708
Dear Mayor Bush:
We are pleased to notify you that your comprehensive annual financial report for the fiscal year ended September 30, 2009
qualifies for a Certificate of Achievement for Excellence in Financial Reporting. The Certificate of Achievement is the
highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant
accomplishment by a government and its management.
The Certificate of Achievement plaque will be shipped to:
Shawn Boyle
Finance Director
under separate cover in about eight weeks. We hope that you will arrange for a formal presentation of the Certificate and
Award of Financial Reporting Achievement, and that appropriate publicity will be given to this notable achievement. A
sample news release is enclosed to assist with this effort. In addition, details of recent recipients of the Certificate of
Achievement and other information about Certificate Program results are available in the "Awards Program" area of our
website, www.gfoa.org.
We hope that your example will encourage other government officials in their efforts to achieve and maintain an
appropriate standard of excellence in financial reporting.
Sincerely,
Government Finance Officers Association
z( q;:
Stephen J. Gauthier, Director
Technical Services Center
SJG /ds
Government Finance Officers Association
203 N. LaSalle Street - Suite 2700
Chicago, IL 60601
Phone (312) 977 -9700 Fax (312) 977 -4806
11/02/2010
NEWS RELEASE
For Information contact:
Stephen Gauthier (312) 977 -9700
(Chicago) - -The Certificate of Achievement for Excellence in Financial Reporting has been
awarded to City of Winter Springs by the Government Finance Officers Association of the
United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The
Certificate of Achievement is the highest form of recognition in the area of governmental
accounting and financial reporting, and its attainment represents a significant accomplishment by a
government and its management.
An Award of Financial Reporting Achievement has been awarded to the individual(s),
department or agency designated by the government as primarily responsible for preparing the
award - winning CAFR. This has been presented to:
Shawn Boyle, Finance Director
The CAFR has been judged by an impartial panel to meet the high standards of the program
including demonstrating a constructive "spirit of full disclosure" to clearly communicate its
financial story and motivate potential users and user groups to read the CAFR.
The GFOA is a nonprofit professional association serving approximately 17,500 government
finance professionals with offices in Chicago, IL, and Washington, D.C.