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E Attachment 2 December 13, 2012 PRESS RELEASE For Further Information Contact Stephen J. Gauthier (312) 977 -9700 Chicago - -The Government Finance Officers Association of the United States and Canada (GFOA) is pleased to announce that Orange County, North Carolina has received the GFOA's Distinguished Budget Presentation Award for its budget. The award represents a significant achievement by the entity. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, the entity 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 • a communications device Budget documents must be rated "proficient" in all four categories, and the fourteen mandatory criteria within those categories, to receive the award. When a Distinguished Budget Presentation Award is granted to an entity, a Certificate of Recognition for Budget Presentation is also presented to the individual or department designated as being primarily responsible for its having achieved the award. This has been presented to Clarence G. Grier, Assistant County Manager, CFO. For budgets including fiscal period 2012, over 1,340 entities are expected to received the Award. Award recipients have pioneered efforts to improve the quality of budgeting and provide an excellent example for other governments throughout North America. The Government Finance Officers Association is a nonprofit professional association serving over 17,800 government finance professionals throughout North America. The GFOA's Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.