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Posted on: January 10, 2022

Malibu Receives Prestigious Award in Recognition of its City Budget

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The Government Finance Officers Association (GFOA) has given its Distinguished Budget Presentation Award to the City of Malibu in recognition of its City budget

 

“The entire community can be proud of this important recognition of the City’s many years of excellent financial management by its skilled, dedicated staff,” said Mayor Paul Grisanti. “Malibu’s top-notch budgetary and financial management makes us less vulnerable to future disasters, economic downturns and other challenges.”

 

The award recognizes the commitment of a government body and its staff to meeting the highest principles of governmental budgeting. In order to receive the award, Malibu had 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. 

 

A government agency’s budget documents must be rated "proficient" in all four categories and in the 14 mandatory criteria within those categories to receive the award.

 

Malibu was selected for this recognition from among 1,700 participants in the Budget Awards Program. The most recent Budget Award recipients, along with their corresponding budget documents, are posted quarterly on the GFOA's website at https://www.gfoa.org/budget-award-winners

 

According to the GFOA, recipients of this award have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America. 

 

The GFOA, founded in 1906, is a professional association whose mission is to advance excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve. Learn more at www.gfoa.org

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