The Del Mar City Council recently announced that the City has once again received the Government Finance Officers Association of the United States and Canada (GFOA’s) Distinguished Budget Presentation Award for its budget.
The award reflects the commitment of the City and its staff to meet the highest principles of governmental budgeting. In order to receive the award, the City satisfied nationally recognized guidelines for effective budget presentation, and how well the budget document serves as a policy document, a financial plan, an operations guide and a communications device. Budget documents must be proficient in all four categories and fourteen mandatory criteria within those categories, to receive the award.
A Certificate of Recognition for Budget Presentation was presented to Teresa S. McBroome, director of finance/treasurer representing the City’s Finance Department as being primarily responsible for its having achieved the award.
On Feb. 6, the City Council received the Fiscal Year 2010-2011 Comprehensive Annual Financial Report (CAFR) by independent auditor Ken Al-Imam with Mayer Hoffman McCann, P.C. The CAFR was very favorable for the City of Del Mar and it too reflected the City’s excellent financial reporting methods.