The City of Tullahoma has been notified by the Government Finance Officers Association of the United States and Canada (GFOA) that it has received both the GFOA’s Distinguished Budget Presentation Award for its FY2016-2017 budget and the Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report (CAFR) for the fiscal year ending July 2016.
These awards represent a significant achievement by the city, according to GFOA, and reflect the commitment of the Tullahoma Board of Mayor and Aldermen and staff to meeting the “highest principles of governmental budgeting, accounting and financial reporting.”
Only 15 municipalities in the state received both awards during the last award cycle, according to officials.
The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting. This is the 18th year the city has received this honor.
To receive the Distinguished Budget Presentation Award, the city satisfied nationally recognized guidelines for budget presentation, which include an assessment of how well the budget serves as a policy document, a financial plan, an operations guide and a communications device.
The Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting. This is the 23rd year the city has been judged to have demonstrated a constructive “spirit of full disclosure” in the preparation of its annual financial report.
The awards were presented to Susan Wilson, finance director, Donna Graham, accounting manager, and the finance department staff.