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News Release City of Fernley Gary Bacock, City Manager Voice (775) 784-9851 Fax (775) 784-9839 [EMAIL REDACTED] 10/21/06 www.cityoffernley.org FOR IMMEDIATE RELEASE City of Fernley Receives Budget Award - Fourth Year Running! Fernley, NV – October 12, 2006 – The Government finance officers Association of the United States and Canada (GFOA) is pleased to announce that the City of Fernley has received the GFOA’s Distinguished Budget Presentation Award for its 06/07 Fiscal Year budget. This caps a remarkable four consecutive years that the City's Administrative Services Department has received this distinction. The award represents a significant achievement by the City. It reflects the commitment of the governing body and staff to meeting the highest principals of governmental budgeting. In order to receive the budget award, the entity had to satisfy the 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 and a communications device. Budget documents must be rates “proficient” in all four 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 having achieved the award. This has been presented to Bonnie Duke/City Treasurer/Administrative Services Director and to Gary Bacock, City Manager. Only 1,027 entities received the Award. Award recipients have pioneers 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 non-profit professional association serving 16,000 government finance professionals throughout North America. The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting. For Further Information Contact: Stephen J. Gauthier Government Finance Officers Association, Chicago, Ill at (312) 977-9700 and/or the City of Fernley at (775) 784-9851.