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City Recognized for Budget and Investment Policy Achievements

The City of Laguna Woods is pleased to announce that it has received an “Operating Budget Excellence Award” from the California Society of Municipal Finance Officers (CSMFO) for its Fiscal Year 2016-17 operating budget. This is the second consecutive year that the City has been recognized by CSFMO for adopting an operating budget that exemplifies best practices in government financial management. Agencies that receive the award must meet stringent statewide standards as judged by an impartial panel of experienced professionals.

The City is also pleased to announce that its Investment of Financial Assets Policy has been certified by the California Municipal Treasurers Association (CMTA). CMTA’s certification is a reflection of the City’s due diligence in adopting an investment policy that conforms to standards developed by CMTA and the State of California’s Debt and Investment Advisory Commission. To receive certification, the City was required to demonstrate the implementation of best practices in 18 different content areas.

“The City prides itself on the integrity of its financial operations,” said Shari L. Horne, Mayor of Laguna Woods. “Being recognized by these two highly regarded professional organizations speaks to the quality and transparency of the City’s efforts. Residents should have confidence in the City’s careful handling of tax dollars.”

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Founded in 1957, CSMFO is a statewide association for local government finance professionals. CSMFO seeks to improve the knowledge, skills, and performance of individuals responsible for municipal and other local government fiscal policy and management.

CMTA is a statewide organization comprised of treasury professionals representing a variety of local governmental units. Since 1958, CMTA has offered programs and services intended to enhance the fiduciary responsibility and integrity of individuals responsible for public funds.