Petersburg Receives Distinguished Budget Presentation Award
The Government Finance Officers Association (GFOA) panel has officially voted to award Petersburg with the Distinguished Budget Presentation Award for the FY 2020-2021 budget document.
This award represents a significant achievement and reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. To receive the budget award, the City had to satisfy nationally recognized guidelines for effective budget presentation.
“This is a phenomenal accomplishment for the City of Petersburg and especially for Mr. Robert Floyd and his budget team.” said Aretha R. Ferrell-Benavides, Petersburg City Manager. “The City of Petersburg has made tremendous financial strides in such a short period of time. We are thankful to the GFOA for recognizing the great work and dedication that went into developing this budget document.”
“This truly serves as a testament to the financial advancement Petersburg continues to see,” Petersburg Mayor, Samuel Parham, expressed. “We as a Council, and ultimately as a City, will continue to emphasize the importance of balanced and professional financial reporting. We are committed to prioritizing the financial needs of the City to ensure we never again experience the financial turmoil of the past.”
The award guidelines are designed to assess how well an entity's budget serves as: a policy document, a financial plan, an operations guide, and a communications device. Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award.
“With the support of our Council and City Administrative leaders, this budget team has been able to implement modern and strategic budgeting practices that contributed to earning this award.” said Robert Floyd, Petersburg’s Director of Budget and Procurement.
The Government Finance Officers Association represents public finance officials throughout the United States and Canada. The association's more than 20,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. GFOA's mission is to advance excellence in public finance.