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Village of Park Forest - Finance News

Posted on: January 31, 2020

Park Forest wins Distinguished Budget Award a 25th consecutive time

Village Hall

The Village of Park Forest for the 25th consecutive year has received the Government Finance Officers Association’s (GFOA) Distinguished Budget Presentation Award.

The award represents a significant achievement for Park Forest. It reflects the commitment of village elected officials and staff members to meet the highest principles of governmental budgeting.

“To receive the Distinguished Budget Award in any one year is a commendable achievement. For this year’s recognition to be the 25th consecutive award is nothing short of tremendous. It speaks to the longstanding diligence of the Village’s Finance Department and the entire Leadership Team. The Mayor, Board of Trustees and the Management Staff have worked hard to sustain such excellence for two and a half decades and should be very proud of what has been accomplished,” said Village Manager Tom Mick.

Park Forest has now landed the Distinguished Budget Presentation Award 27 times, including 25 years straight, since the award was created 36 years ago. Only 15 municipalities in Illinois have won the award more times than Park Forest.

In order to receive the budget award, Park Forest needed to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an organization’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 fourteen mandatory criteria within those categories, to receive the award.

When a Distinguished Budget Presentation Award is granted to an organization, a Certificate of Recognition for Budget Presentation is also presented to the individual(s) or department designated as being primarily responsible for having achieved the award.

There are over 1,600 participants in the Budget Awards Program nationwide. The most recent Budget Award recipients, along with their corresponding budget documents, are posted quarterly on GFOA’s website. Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America.

Government Finance Officers Association (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.

View Park Forest's 2018-19 award-winning budget
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