CITY OF HILLSBORO FINANCE DEPARTMENT:

The Finance Department is responsible for maintaining the financial integrity of the City. Primary functions include financial forecasting, overseeing the annual audit and preparation of the Comprehensive Annual Financial Report, preparation of the annual budget and on-going monitoring for budget compliance throughout the year, providing general information to the public, business license processing, payroll, accounts payable, accounts receivable, lien searches, general accounting, cash management and investment activity, debt management, financial policies, purchasing, utility billing and municipal court administration.

The Government Finance Officers Association of the united States and Canada (GFOA) is pleased to announce that the City of Hillsboro, Oregon has received the GFOA's Distinguished Budget presentation Award for its budget.

The award represents a significant achievement by the entity. 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 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
• a communications device

Budget documents must be rated "proficient" in all four categories, and the fourteen mandatory criteria within those 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 its having achieved the award. This has been presented to the Finance Department.

City Management has been fiscally conservative over the years which has led to maintaining a strong general fund working capital. In 1998, the Finance Department developed a forecasting model using department service levels to help the City balance the growing demand for services with the anticipated growth in assessed value and resulting revenues.