Downey wins award for fiscal budget

DOWNEY – For the first time in the city’s history, Downey has been awarded the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation Award for its Fiscal Year (FY) 2014-15 Budget. The GFOA Award recognizes the city’s efforts in producing a comprehensive budget document that excels in four major categories such as a policy document, a financial plan, an operations guide and a communications device.

Downey’s FY 2014-15 Budget met the highest principles of governmental budgeting and is a reflection of the city’s commitment to ensuring fiscal responsibility, one of the top five priorities set by the City Council.

“This national award represents a significant achievement for our city, as it is the first time in our city’s history that we are honored with this award,” said Mayor Luis Marquez. “It reflects the commitment of our City Council and city staff in ensuring and maintaining our city’s fiscal solvency.”

The GFOA is a major professional association servicing more than 18,000 appointed and elected local, state, and provincial-level government officials, and finance practitioners. The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.

Mayor Pro Tem Alex Saab commented, “What a great accomplishment for our city – our community should feel very proud. Downey is a prime example of what it means to be fiscally responsible and this GFOA award solidifies exactly that.”

“I would like to thank the City Council for its guidance and support in producing this latest city budget document and commend Finance Director, Anil H. Gandhy, for his hard work in making this award possible for our city,” said City Manager Gilbert Livas.

Downey’s Fiscal Year 2014-15 budget can viewed on the City’s website at downeyca.org/gov/finance/city_budgets.asp.

To learn more about the GFOA award, visit gfoa.org/budgetaward.

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Published: Jan. 22, 2015 - Volume 13 - Issue 41