Medford Recognized For FY2026 Capital Budget

MEDFORD, MA — The Government Finance Officers Association recognized the city’s Fiscal Year 2026 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 third time Medford has received this award for its municipal budgets, with the first coming for its budget in FY21 and FY25. 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.

“I am so proud of our team for securing this prestigious award for the second year in a row,” Mayor Breanna Lungo-Koehn said in a statement.

This year’s budget was approved last June by the City Council and is worth $235,119,320. The amount marks an increase of more than $17 million compared to FY25 after two tax overrides passed worth more than $7 million. Mire than $35 million of Medford’s budget is composed of state financial aid.
Medford Finance Director Bob Dickinson said compiling the budget is one of the town’s most crucial annual tasks, and that it requires a high level of collaboration across leadership entities.

“I’m thrilled that the GFOA recognized the work that went into producing this document,” Dickinson said. “I thank the Mayor for setting this goal and the partnership by the staff, especially the Communications team, led by Communications Director Steve Smirti and Communications Specialist Emma Twombly, who worked to achieve it.”

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