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Tho Kraus (253) 983-7706 • Fax (253) 589-3774 • TKraus@cityoflakewood.us
Assistant City Manager of Administrative Services, Chief Financial Officer

The biennial budget document is the most important document the City produces.  It outlines the City’s spending plan and priorities for the biennium which runs from January 1st of the odd number year through December 31st of the even number year.  The City is required to conduct a mid-biennial review in the first year with the formal process starting no sooner than September 1st.  Also, throughout the year the City prepares budget adjustments, referred to as the carry forward budget adjustment and year-end/housekeeping budget adjustments.  Theses budget amendments are not included in the adopted biennial budget; rather they are presented as separate documents.

The City submitted its 2015/2016 Biennial Budget document to the Government Finance Officers Association of the United States and Canada (GFOA) Distinguished Budget Presentation Award program (the City’s first submittal to the award program since 2007) and received the award. The award represents a significant achievement by the City. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive this award, the City had to satisfy nationally recognized guidelines for effective budget presentation.  These guidelines are designed to assess how well the City’s budget serves as: a policy document; a financial plan; and operations guide; and a communications device. Budget documents must be rated “proficient” in all four categories and the fourteen mandatory criteria within those categories, to receive the award.  The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budget.