March 21, 2022 – The City of Laguna Woods is pleased to announce that it has received the California Society of Municipal Finance Officers’ “Operating Budget Excellence Award” for its Fiscal Years 2021-23 budget. This is the City’s sixth consecutive operating budget that has been recognized by the California Society of Municipal Finance Officers for exemplifying best practices in government financial management. Agencies that receive awards must meet numerous standards related to content and presentation.
The City’s Fiscal Years 2021-23 budget is a scope of work and financial plan for the period spanning July 1, 2021 through June 30, 2023. The budget is the third two-year budget adopted by the City Council since transitioning to two-year budgeting in 2017. Two-year budgeting allows for longer-term financial forecasts, greater certainty regarding the sustainability of operations, and heightened strategic vision.
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Founded in 1957, the California Society of Municipal Finance Officers is a statewide association for local government finance professionals. The California Society of Municipal Finance Officers’ seeks to improve the knowledge, skills, and performance of individuals responsible for municipal and other local government fiscal policy and management.