Politics & Government
Medford Recognized For FY2025 Capital Budget
The city was recognized internationally with a "Distinguished Budget Presentation Award."
MEDFORD, MA — The Government Finance Officers Association recognized the city’s fiscal year 2025 capital budget with a “Distinguished Budget Presentation Award.”
Founded in 1906, the GFOA represents finance officials across nearly 20,000 communities in the United States and Canada. The recognition marks the second time Medford has received this award for its municipal budgets, with the first coming for its budget in FY21. The GFOA describes the award as a significant achievement that is awarded on the criteria of a commitment by a governing body to meet the highest principles of governmental budgeting.
“This is a tremendous accomplishment and shows that our financial accounting practices and priorities that are the foundation for our budget process are sound and transparent,” Mayor Breanna Lungo-Koehn said. “The criteria set by GFOA for the application process is stringent and requires much preparation and diligent work.”
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According to Assistant Finance Director and Budget Manager Courtney Cardello, assembling the FY25 budget took hundreds of hours throughout multiple months.
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