BUDGET

 

The budget is the "blueprint" used to provide a sound financial framework for all town operations. It ensures that the town's limited resources are allocated toward the services and strategic priorities identified by the Board of Commissioners. More specifically, the budget is a financial plan consisting of an estimate of proposed expenditures, the proposed means of financing and the goals and objectives of the expenditures for a given time period, usually one year (July 1-June 30).

The Government Finance Officers Association awarded the town's Fiscal Year 2008-09 budget the Distinguished Budget Presentation Award. This national award is the highest award in governmental budgeting, recognizing those cities that have prepared exemplary budgets which serve as a policy document, financial plan, operations guide and a communications device. Only 4.07 percent of North Carolina municipalities received this award, and only 1.96 percent received it nationally. Receipt of the award for the FY 2008-09 budget marks the 8th year that Hillsborough has been awarded this recognition.

In addition, the FY 2008-09 budget document received the Special Performance Measures Recognition for outstanding presentation and communication of performance information.  Nationally, only 0.03% of municipalities received this recognition and FY 2008-09 marks the first time the Town has received this special recognition.

“A Balanced Approach to Implementing the Balanced Scorecard”  (Article by written by William C. Rivenbark and Eric J. Peterson published in Popular Government Fall 2008)

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