Community

Region receives award for ‘transparent’ budget

For the 19th consecutive year, York Region has received an award that acknowledges its achievement in presenting “open and transparent” budget.

The region received the Government Finance Officers Association (GFOA) Distinguished Budget Presentation Award for its 2023 budget.

“York Region’s annual budget represents transparency at its finest level,” says Steve Pellegrini, Chair of the region’s Finance and Administration. “To receive this award annually for almost two decades recognizes the dedication of staff preparing a document encompassing both the intricacies of a budget while keeping it highly understandable.”

The GFOA represents public finance officials throughout North America. Its mission is to advance excellence in public finance. In order to receive the GFOA award, a budget document must satisfy nationally-recognized guidelines for effective presentation of the budget as a policy document, a financial plan, an operations guide and a communication vehicle.

York’s budget received special recognition in two areas: “Capital” and “Strategic Goals and Strategies.” The region received the Triple Crown medallion, recognizing achievement of all three GFOA awards in the 2021 fiscal year.

“York Region staff are tasked to deliver top-level programs and services to our residents and local municipalities, being mindful of current political and economic conditions,” York Region Chairman and CEO Wayne Emmerson says. “Every component of the Region’s annual budget supports our four priority areas of the Strategic Plan and demonstrates our mission of working together to serve our thriving communities, today and tomorrow.”

York’s Fiscal Strategy, which supports the long-term goal of financial sustainability through sound management of its capital plan, reserves and use of debt, guides the creation of the budget, the region reports. It credits strong financial oversight with its ability to maintain a Triple A credit rating, the highest possible from both Moody’s Investors Service and S&P Global Ratings.

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