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The original item was published from 10/22/2019 11:58:11 AM to 11/23/2019 12:00:01 AM.

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City of Hot Springs News Releases

Posted on: October 22, 2019

[ARCHIVED] Hot Springs Finance Department earns budget presentation award

Finance Dept.The City of Hot Springs’ Finance Department has been awarded the Distinguished Budget Presentation Award for its 2019 budget by the Government Finance Officers Association (GFOA).

“The award represents a significant achievement” and “reflects the continued commitment of the governing body and staff to meet the highest principles of governmental budgeting,” said the GFOA in its award notification letter to the City.

“The budget book is a group effort and reflects the creativity and cooperation of everyone in the Finance Department,” said Dorethea Yates, director of the City’s Finance Department.

This is the second straight year Hot Springs has earned the Distinguished Budget Presentation Award, and was among only six Arkansas municipalities in 2018 to be on the list. The 2019 list of winners has not yet been made available on the GFOA website.

In order to receive the budget award, an entity has 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 14 mandatory criteria within those categories, to receive the award.

GFOA advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 20,500 members and the communities they serve.

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