Government Finance Officers Association recently announced that the city of Indianola, Iowa, has received 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, the organization said in a news release.
In order to receive the budget award, the entity had to satisfy nationally recognized guidelines for effective budget presentation, the news release said. 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.
Budget documents must be rated "proficient" in all four categories, and in the 14 mandatory
criteria within those categories, to receive the award.
“The Distinguished Budget Award comes on the heels of the City receiving an extremely favorable credit rating of Aa2 by Moodys,” said Indianola city manager Ryan Waller. In its assessment of the City, Moodys assigned a AAA rating (highest possible) to all categories within the control of the City Council and staff, Waller said.
“This exceptional rating allows the City to fund vital infrastructure projects at extremely low interest rates,” he said. “Just recently, the City secured an interest rate of 0.96 percent on financing to construct its award-winning streetscape design in the City’s Square in the spring of 2021.”
This is the fourth award for Indianola. Waller noted that 13 communities in the State of Iowa received the award for fiscal year 2020.