WEDC receives national award for excellence in budgeting

MADISON, WI. MAY 19, 2023 – The Wisconsin Economic Development Corporation (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.

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.
• A communications device.

Budget documents must be rated “proficient” in all 4 categories, and the 14 mandatory criteria within those categories, to receive the award.

“It’s vital that WEDC’s board of directors, stakeholders, and taxpayers understand the investments our state is making in Wisconsin’s economic future,” said Missy Hughes, Secretary and CEO of WEDC. “WEDC staff work hard to ensure that the investments we make pay off for everyone and that our financial operations are fully transparent. This award recognizes our staff’s commitment to achieving those goals.”

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.

“I want to commend the WEDC team for their commitment to the very highest levels of transparency and public accountability,” said Lisa Mauer, chair of WEDC’s Audit and Budget Committee. “Their comprehensive and accessible budget document enables citizens, stakeholders, and board members to understand and evaluate the important investments WEDC makes in our state’s economic future.”

GFOA is a professional association serving more than 21,000 appointed and elected local, state and provincial-level government officials and other finance practitioners. It provides top-quality publications, training programs, services and products designed to enhance the skills and performance of those responsible for government finance policy and management.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.