The City of Marina, celebrating its 35th Anniversary this year, is receiving its first California Society of Municipal Finance Officers (CMSFO) Meritorious Budget Award for the City Fiscal Year 2009-2010 Operating Budget.

The mission of CSMFO is to promote excellence in financial management through innovation, continuing education and the professional development of its members. Lauren Lai, CPA, joined the City of Marina as the finance director in February 2009 and brought professional expertise in municipal budgeting. Ms. Lai, CPA, successfully led prior city budgets for the City of Capitola, and successfully garnered the CSMFO budget awards for Capitola city budgets.

CSMFO established the Budget Award Program to encourage and assist local governments to prepare budget documents of the very highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the CSMFO’s recommended practices on budgeting. CSMFO recognizes individual governments that succeed in achieving that goal.

Previously, the City of Marina budget documents did not meet the high standards established by CSMFO. Under Ms. Lai’s leadership, the City of Marina’s fiscal year 2009-2010 operating budget was revamped to incorporate many new fiscal strategies and to present information of the highest quality as recommended by CSMFO.

The City Fiscal Year 2009-2010 Operating Budget was submitted to CSMFO for the budget award in August 2009. In this first attempt for the award, it is extraordinary that the City received the CSMFO Meritorious Budget Award. This is the first time in the City’s history of ever achieving CSMFO budget recognition.

Collectively, the City Executive Team is very pleased that the new budget document provides more transparency and accountability for the City Council, residents and businesses.