Temecula is a Multi-Year and Multi-Award Recipient of Financial Reporting and Budget Awards

The Government Finance Officers Association (GFOA) presented the City of Temecula the "Distinguished Budget Presentation Award" for its FY23-24 Annual Operating Budget. According to GFOA, the award represents a significant achievement by the City of Temecula and reflects the commitment of the City Council and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, Temecula satisfied 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 communication tool. Budget documents must be rated "proficient" in all four categories, and in the fourteen mandatory criteria within those categories, to receive the award.

In addition, Temecula also received "Special Recognition - Budget Process." This special recognition is earned when all three budget reviewers give the highest possible score (4 of 4) in certain categories, which culminated in the highest possible rating for the category entitled, "Overall as a Policy Document."

Temecula Mayor Stewart says, "We are informed that only 19 municipalities/counties/special districts received this special recognition, and that Temecula is the only city in California - and in fact the only city west of Texas - to receive this recognition."

This budget award and its special recognition are presented on the heels of the City receiving its 32^nd award for "Certificate in Achievement for Excellence in Financial Reporting," which was announced in September of 2023 for its Annual Comprehensive Financial Report for the Fiscal Year ended June 30, 2022. This award requires demonstrating a constructive "spirit of full disclosure" to clearly communicate the City's financial story and motivate potential users and user groups to read the report. According to GFOA, it is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by Temecula and its management.

Mayor Stewart adds, "These multiple budget and financial reporting awards presented to the City of Temecula year after year are a testament to the excellent financial stewardship and the integrity of financial and budget information provided by our City Manager and Finance Director, and their respective teams."

There are over 1,700 participants in the Budget Awards Program. 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 22,500 members and the communities they serve.