April 16, 2008
Contact: Mike Phillips, media relations manager, (480) 312-7825
Financial Services Department receives Award for Excellence
Scottsdale’s Financial Services Department is receiving national honors for its Debt Management Guide and Debt Forecasting Model.
Both financial tools earned an Award for Excellence from the Government Finance Officers Association in the category of capital finance and debt administration.
The association annually recognizes contributions to the practice of government finance that exemplify outstanding financial management. The awards stress practical, documented work that offers leadership to the profession and promotes improved public finance.
Eight criteria are examined when considering an application for the award: local significance and value, technical significance, transferability, documentation, the cost/benefit analysis, efficiency, originality, and durability.
Scottsdale’s Debt Management Guide and Debt Forecasting Model provide many benefits to the community, according to the association. They include:
• A long-term/strategic approach for financing decision-making
• A periodic review of base assumptions involving revenue and demographics
• An examination of debt position to determine “ability to live within our means”
• Advance planning for debt amount, rates, and timing of debt issuance
• Ability to generate multiple “what-if” financing scenarios;
• A graphic presentation allowing visualization of debt financing and a communication tool for citizens, elected officials, staff and credit rating agencies
The Award for Excellence will be presented to Craig Clifford, Scottsdale’s general manager of financial services, at the association’s annual conference in Ft. Lauderdale, Fla., on June 10.
The Government Finance Officers Association is a non-profit professional association serving 14,000 governmental finance professionals throughout North America.
For more information on Scottsdale’s budget and financial services, visit:
http://www.scottsdaleaz.gov/finance.asp