March 7, 2025
The Government Finance Officers Association of the United States and Canada (GFOA) awarded the City of Lakewood with its Certificate of Achievement for Excellence in Financial Reporting for its budget.
“This recognition and award highlights our organization’s commitment and dedication to excellence in budgeting, transparency, and financial stewardship,” said Lakewood City Manager John Caulfield. “And this does not happen without the leadership of Deputy City Manager Tho Kraus and the hard work of the city’s Finance Department team.”
The award represents a significant achievement. It reflects a commitment to meet the highest principles of governmental budgeting. To receive the budget award, the city of Lakewood 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 in the 14 mandatory criteria within those categories, to receive the award.
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.