Congratulations are in order! The City has received notification from the Government Finance Officers Association (GFOA) that the City of Nassau Bay has been awarded the Distinguished Budget Presentation Award for the Fiscal Year 2022 Budget.
This award represents a significant achievement by the City of Nassau Bay – it reflects the commitment of the entire organization to meeting the highest principles of governmental budgeting. This is the ninth consecutive year the City has earned this award.
“I am so proud of the work of our City Council, administration and the Finance Department in attaining this distinguished award,” City Manager Paul McLarty said. “A significant amount of work goes into preparing the budget, which creates a strong financial plan for our organization to follow throughout the year. Preparing a strong budget also allows us to provide financial transparency to the Nassau Bay community.”
According to a press release issued by the GFOA, several requirements must be met in order to receive this budget award. These 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.
“We are extremely excited to have achieved this recognition with our first-ever digital budget book,” Finance Director Csilla Ludanyi said. “This recognition is an achievement in two ways – our staff met the stringent requirements set forth by the GFOA while also adapting our work to a digital platform.
“This is especially important because our consistent achievement of this award is a primary factor in earning and maintaining our ‘AA+’ bond rating. With this bond rating, awarded in 2021, the City of Nassau Bay has placed itself in a more competitive position to receive lower interest rates when issuing debt.”
To review the City’s current budget, visit our website at www.nassaubay.com/budget.