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3 <br />GOVERNMENT FINANCE <br />OFFICERS ASSOCIATION <br />180 North Michigan Avenue, Suite 800, Chicago, Illinois 60601 <br />July 31, 1998 312/977 -9700 • Fax: 312/977 -4806 <br />PRESS RELEASE <br />For Further Information Contact <br />RELEASE IMMEDIATELY Stephen J. Gauthier (312) 977 -9700 <br />*********************************************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** <br />Chicago - -The Government Finance Officers Association of the United States and Canada <br />(GFOA) is pleased to announce that Orange County, North Carolina has received the GFOA's <br />Distinguished Budget Presentation Award for its budget. <br />The award represents a significant achievement by the entity. It reflects the commitment of the <br />governing body and staff to meeting the highest principles of governmental budgeting. In order <br />to receive the budget award, the entity had to satisfy nationally recognized guidelines for <br />effective budget presentation. These guidelines are designed to assess how well an entity's <br />budget serves as: <br />• a policy document <br />• a financial plan <br />• an operations guide <br />• a communication device <br />Budget documents must be rated "proficient" in all four categories to receive the award. <br />When a Distinguished Budget Presentation award is granted to an entity, a Certificate of <br />Recognition for Budget Presentation is also presented to the individual or department designated <br />as being primarily responsible for its having achieved the award. This has been presented to the <br />Budget Office. <br />Since the inception of the GFOA's Distinguished Budget Presentation Awards Program in 1984, <br />approximately 700 entities have received the Award. Award recipients have pioneered efforts to <br />improve the quality of budgeting and provide an excellent example for other governments <br />throughout North America. <br />The Government Finance Officers Association is a nonprofit professional association serving <br />12,650 government finance professionals throughout North America. The GFOA's <br />Distinguished Budget Presentation Awards Program is the only national awards program in <br />governmental budgeting. <br />WASHINGTON OFFICE <br />1750 K Street, N.W. Suite 650, Washington, DC 20006 <br />202/429 -2750 - Fax: 202/429 -2755 <br />