The Government Finance Officers Association of the United States and Canada recently awarded the City of Colwood a Distinguished Budget Presentation Award for its 2018 financial plan.
The award is given based on guidelines that assess the budget book’s value as a policy document, a financial plan, an operations guide and a communications device, according to the the association’s website.
“Budget documents must be rated ‘proficient’ in all four categories, and the fourteen mandatory criteria within those categories, to receive the award,” it says.
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Mayor Rob Martin said in a release the recognition “represents the City’s commitment to transparency and thoroughness in ensuring Colwood residents have the most comprehensive information about how their tax dollars are used.”
“This prestigious award is an outstanding testament to the professionalism and dedication of City of Colwood staff,” he added.
The association’s website points out the award is the only one of its kind. Founded in 1906, GFOA represents public finance officials on both sides of the border.
“A transparent financial plan encourages citizen engagement and empowers Council to set a strategic, long-term vision into motion,” said Colwood’s Director of Finance Christopher Paine in the release.
“We look forward to demonstrating further progress through the 2019 budget deliberations,” he added.
The city’s budget, including the now-decorated 2018 one, can be found at www.colwood.ca/budget.