Virginia Beach City Public Schools has earned the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA), the highest recognition in governmental budgeting.
In order to qualify for the honor, a government institution must meet the highest principles of governmental budgeting, which include satisfying nationally recognized guidelines for budget presentation.
“Each year, we put tremendous time and effort in making sure our budget not only fits the fiscal needs of our division, but also informs and educates our public about the decisions made,” said Farrell Hanzaker, chief financial officer for Virginia Beach City Public Schools. “We are honored the GFOA has recognized those efforts and we will continue to provide the students, staff and residents of Virginia Beach the most responsible budget we can as well as an outstanding return on their investment in our schools.”
For the 2012-2013 school year, the VBCPS operating budget is $657.4 million.
VBCPS’ budget was evaluated as a policy document, financial plan, operations guide and communications device and had to earn a score of “proficient” on all 14 mandatory criteria within those four categories.
The Government Finance Officers Association is a nonprofit professional association serving more than 17,500 government finance professionals throughout North America.