By Jennifer Duda
College of DuPage has earned the Award for Excellence in Government Finance from the Government Finance Officers Association of the United States and Canada (GFOA) for its FY2018 Budget-in-Brief (BIB) publication.
GFOA’s Award for Excellence in Government Finance recognizes innovative programs and contributions that exemplify outstanding financial management. The award selection process seeks to identify practical, documented work that offers leadership to the profession and promotes improved public finance. The College of DuPage is the first unit of government in Illinois to win the award since 2012, and the first institution of higher education to win the award since 2006. In its assessment of the FY2018 BIB, the GFOA stated, “The BIB communicates with stakeholders in a manner that the College’s more voluminous and complex formal annual budget cannot.”
The College’s annual budget is more than 200 pages and is the culmination of six months of work, during which input is solicited from the college community and institutional needs are identified, prioritized and resourced. Presenting annual budgetary information in an easy-to-read document was a priority for the administration as it helped build stronger ties between College of DuPage and its stakeholders, said Vice President for Administration and Treasurer (CFO) Brian Caputo.
“Our goal was to provide constituent groups with basic financial information on the College’s budget as well as short- and long-term initiatives in a reader-friendly manner,” he said. “We are pleased with the feedback we have received from our peers and gratified that the GFOA has recognized our commitment to best practices and strong financial management.”
College of DuPage has also received the GFOA Distinguished Budget Presentation Award for 19 consecutive years. In addition, the College recently had its AA bond rating upgraded to AA+ by Standard & Poor’s Global Ratings. In connection with the new rating, S&P affirmed its rating outlook of “stable” on the College’s outstanding general obligation bonds. Earlier this year, Moody’s Investors Service affirmed the College’s Aa1 rating and shifted its outlook from stable to positive.
The GFOA is a non-profit professional association serving approximately 19,300 government financial professionals with offices in Chicago and Washington, D.C.
View the College of DuPage FY 2018 Budget-in-Brief and other important financial documents.
Pictured: (from left) College of DuPage Board Chairman Deanne Mazzochi, COD Budget Analyst Antoinette Stella, COD Vice President for Administration and Treasurer (CFO) Brian Caputo, COD Budget Manager Robert Hayley, Illinois Government Finance Officers Association Executive Director Diane Gillian Lantz, and COD President Dr. Ann Rondeau