City Of Arvada Receives Governmental Budgeting Award

ARVADA, CO — The City of Arvada has received the Government Finance Officers Association’s Distinguished Budget Presentation Award. The award goes to governments that reach high standards for governmental budgeting.

The City of Arvada's finance team had to meet nationally-recognized guidelines for an effective budget presentation to receive the award, officials said. The guidelines are designed to assess how well the budget serves as a policy document, a financial plan, an operations guide and a communications device.

Approved by the Arvada City Council, the city budget supports one of the council’s strategic priorities: to provide the community with a well-managed, fiscally-responsible city government, officials said.

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“The City is honored to be recognized by GFOA,” City Finance Director Bryan Archer said in a statement. “Our City budget is the result of successful collaboration involving City Council and the City team that helps us effectively and efficiently sustain current service levels to the community and meet future needs.”

There are over 1,600 participants in the Government Finance Officers Association’s Budget Awards Program. Award recipients have pioneered efforts to improve the quality of budgeting and provide an example for other governments throughout North America, the association said.

The City of Arvada uses long-range planning for in developing its budget. The planning includes the preparation of a two-year budget and a ten-year financial plan, which are used to determine if future impacts of the current proposed budget are fiscally sound, the city said. Using the ten-year models, the city is able to test the effects of current financial decisions on future years' financial conditions when approving funding requests throughout the organization.

The City of Arvada Finance Department provides strategic partnerships, revenue and financial management, procurement and risk management services to the city council, city departments and the community, so they can make informed decisions, achieve desired results and thrive in a financially stable city, officials said.