The Village has received the Distinguished Budget Presentation Award from the Government Finance Officer Association (GFOA) for fiscal year 2014, which began Jan. 1. This is the second year in a row the budget has received the award.
In a statement notifying the Village of its selection, the GFOA, a nonprofit professional association that serves more than 17,500 government finance professionals across North America, called the award “the highest form of recognition in governmental budgeting.”
To earn the award, the Village had to satisfy nationally recognized guidelines for effective budget presentation. The budget was assessed as a policy document, financial plan, operations guide and communications vehicle. GFOA judges used 14 mandatory criteria within these categories to determine those entities who would receive the award.
Oak Park’s annual municipal budget process typically begins in late summer or early fall and includes numerous reviews by the Village Board Finance Committee and public discussions led by the full Village Board. The budget is approved in late November or early December. The 2014 budget is posted online at www.oak-park.us. For more information on the budget or budget creation process, call 708.358.5460 or email finance@oak-park.us.