City Receives Award for 2006-2007 Budget

Communications Director

Eric Vreeland
evreeland@knoxvilletn.gov
(865) 215-3480

400 Main St., Room 654A
Knoxville, TN 37902

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City Receives Award for 2006-2007 Budget

Posted: 12/18/2006
The City of Knoxville has received the Government Finance Officers Association's Distinguished Budget Presentation Award for its Fiscal Year 2006-2007 Budget.

Knoxville was one of only 18 cities or counties in Tennessee that received the honor this year and this marks the 19th consecutive year that the city has gotten the award. Mayor Bill Haslam said the award was a confirmation that the city is committed to careful planning and wise use of its funds.

"Everyone in the city should be assured we have a budget that's accurate and understandable," Haslam said. "And I want to thank everyone who has a part in putting it together."

The Government Finance Officers Association of the United States and Canada is a non-profit association that serves more than 16,000 government finance professionals in North America. "We think it's important because it reflects on the quality of the work we do," said James York, the city's deputy finance director. "It shows that there is a national body that recognizes these things and shows we meet certain standards in the preparation of our budget."

According to a Government Finance Officers Association release the award "reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. To receive the award a government entity had to satisfy specific guidelines for effective budget presentation designed to assess how well its budget document served as a policy document; financial plan; operations guide and as a communications device. The budget had to be rated proficient in all four categories for the governing body to receive the award.

The City of Knoxville's FY 2006/2007 Operating Budget defines not only where the city's revenues come from and how it plans to spend the money, but it also gives the reader a snapshot of the city's history, where it is now and where it plans to go. "You want to make something that someone can pick up and read and understand," York said.While the city's budget is several hundred pages long and is a comprehensive document York said the finance department strives to make it clear and understandable for people who aren't financial professionals.

The city's budget is also available at www.knoxvilletn.gov/budget.

In addition to the city receiving the award a Certificate of Recognition for Budget Presentation is also presented to the "individual or department designated as being primarily responsible for it's having achieved the award" according to the GFOA press release announcing it. The certificate was presented to York and the finance department. The city also has received the GFOA's Certificate of Achievement for Excellence in Financial Reporting over the past 19 years, which is awarded for comprehensive annual financial reports for the previous fiscal year.