CHA awarded Distinguished Budget Presentation Award from Government Finance Officers Association
CHICAGO – (Aug. 21, 2020): The Chicago Housing Authority (CHA) announced today that it has been awarded the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for its 2020 annual budget.e
This marks the 20th consecutive year CHA has received the award, which is considered the highest form of recognition in governmental budgeting.
Governmental entities being considered for the award must meet nationally recognized guidelines for effective budgeting that assess the effectiveness of a budget as a policy document, financial plan, operations guide and communications device, according to GFOA award criteria.
Budget documents must be rated "proficient" in all four categories, and in the 14 mandatory criteria within those categories, to receive the award. CHA received ratings of “outstanding” in 40 percent of its category reviews. In its award letter to CHA, the GFOA noted that this “reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting.”
“This award demonstrates the hard work and commitment to excellence that our finance and budget departments have in making sure that our fiscal practices and management are transparent, accountable and follow industry best-practices,” said CHA CEO Tracey Scott. “I am proud of our finance team’s work and am pleased to have this important GFOA recognition.”
CHA’s 2020 annual budget of $1.1 billion was approved by the CHA Board of Commissioners in November 2019 and outlines a spending plan using MTW, Section 8, Hope VI and other funds to support investments in new housing, capital improvements, the Housing Choice Voucher program, and services and programs that help residents achieve self-sufficiency.
The GFOA advances excellence in government finance by providing best practices, professional development, resources and practical research for more than 20,000 members and the communities they serve across the U.S. and Canada.