City of Virginia Beach Earns Award for Excellence in Budgetary Reporting

The City of Virginia Beach has been nationally recognized for effective budget presentation for the 38th time.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded the City a Distinguished Budget Presentation Award for its annual budget for the fiscal year beginning July 1, 2024.

The Distinguished Budget Presentation Award is the highest form of recognition for governmental budgeting, representing a significant accomplishment by the City of Virginia Beach.

To receive the award, the City had to satisfy nationally recognized guidelines for effective budget presentation, including presenting the budget as a policy document, financial plan, an operations guide and a communications device. Budget documents must be rated "proficient" in all four categories, and in the 14 mandatory criteria within those categories, to receive the award.

A Certificate of Recognition for Budget Presentation was presented to the City of Virginia Beach Budget and Management Services Department.

The submission of an operating budget and Capital Improvement Program is required by the Code of Virginia and by the City Charter for informative and fiscal planning purposes containing all contemplated expenditures and all estimated revenues.

The GFOA established the Distinguished Budget Presentation Awards Program in 1984 to encourage and assist state and local governments to prepare budget documents of the highest quality that reflect the guidelines established by the National Advisory Council in State and Local Budgeting and the GFOA’s best practices, and then to recognize the individual governments that succeed in achieving that goal.

Residents may view the budget documents online at budget.virginiabeach.gov or at any Virginia Beach Public Library location. For more information, call 757-385-8234.