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The original item was published from 7/16/2018 3:23:00 PM to 8/2/2018 12:00:00 AM.

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City of Hot Springs News Releases

Posted on: July 16, 2018

[ARCHIVED] Hot Springs receives GFOA budget award

The Government Finance Officers Association is pleased to announce that City of Hot Springs, Arkansas, has received GFOA's Distinguished Budget Presentation Award for its fiscal year 2018 budget. Hot Springs is one of only six cities in Arkansas to receive this award.

The award represents a significant achievement by the city and reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting, according to the GFOA.

In order to receive the budget award, the City of Hot Springs had to satisfy nationally recognized guidelines for effective budget presentation. 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. Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award.

The Hot Springs Finance Department also received a Certificate of Recognition for Budget Presentation for its efforts in attaining the award. “The budget book is a group endeavor that reflects the creative and cooperative efforts of the Finance Department,” Finance Director Dorethea Yates said. “We are working to make more improvements to the next budget book so that it contributes to transparency and provides readers with more information about the city’s financial planning processes.”

GFOA is a major professional association servicing the needs of more than 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners throughout North America. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The association is headquartered in Chicago, Illinois, with offices in Washington, D.C.

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