AGENDA #1a

MEMORANDUM

TO:                  Mayor and Town Council

FROM:            W. Calvin Horton, Town Manager

SUBJECT:      Government Finance Officers’ Distinguished Budget Award for 2005-2006

DATE:            January 9, 2006

DISCUSSION

The Government Finance Officers Association has announced that the Town Budget has been awarded the Government Finance Officers’ Distinguished Budget Award for the Town’s 2005-2006 Annual Budget. Town staff worked to meet the high standards of the Distinguished Budget Award.  The reviewers deemed the Budget “distinguished” for its service as a policy document, a financial plan, an operations guide and a communications device.  The reviewers commented positively on many elements of the budget, but remarked specially on its understandability and usability. 

The Town is proud of its consistently high standards for budget and accounting presentations.  Only 6 percent of North Carolina’s governmental units received the Distinguished Budget Presentation Award.

ATTACHMENTS

1.         News Release from the Government Finance Officers’ Association (p. 2).