GFOA recognizes WEDC with Distinguished Budget Presentation Award
The Wisconsin Economic Development Corp. (WEDC) has received the Distinguished Budget Presentation Award from the Government Finance Officers Association of the United States and Canada (GFOA) for its Fiscal Year 2023 budget, according to a recent press release.
The award represents a significant achievement by WEDC in meeting the highest principles of governmental budgeting. To receive the budget award, WEDC 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, and a communications device.
This is the first time WEDC has received the Distinguished Budget Presentation Award from GFOA. GFOA has previously recognized WEDC for outstanding financial reporting for its Annual Comprehensive Financial Report.
The award represents a turnaround from the agency’s early years when it was taken to task for inadequately tracking its grants to businesses.