Laketran Receives Two Awards for Astute Fiscal ManagementPublished: Wednesday, March 30, 2011
Laketran’s Finance Department, headed by Lisa Colling, received a Distinguished Budget Presentation Award for Laketran’s 2010 budget from the Government Finance Officers Association (GFOA). This award is the highest form of recognition in government budgeting and reflects the commitment of the governing body and staff to meeting the highest principles of government budgeting. Laketran’s 2010 budget was $11.8 million. Laketran’s Finance Department has received the Distinguished Budget Presentation Award from the GOFA for 13 consecutive years.
“The budget Laketran presents to the GFOA is more than just proving we’ve created a balanced budget. It serves as a policy document, a financial plan, an operations guide and a communications device,” stated Colling, “Laketran must be rated as “proficient” in all four categories, and then fourteen mandatory criteria within those categories to receive this budget award.”
Laketran also received the State Auditor’s “Making Your Tax Dollars Count” Award, an award fewer than five percent of all Ohio government agencies are eligible to receive. The award is granted to entities who have submitted a Comprehensive Annual Financial Report (CAFR) with no findings or issues present in the audit report and there must be no other financial concerns involving the entity. The State has presented Laketran with awards and recognition for our CAFR for 14 consecutive years.
“I am very proud of Laketran’s Board of Trustees and Finance Team for the distinguished honors from both the State Auditor’s Office and GFOA. These awards continue a legacy here at Laketran of prudent financial management, which can assure taxpayers we are operating efficiently to provide as much transportation service as we can afford to Lake County.” commented, general manager, Ray Jurkowski.