BELLAIRE — The City of Bellaire recently received high marks for budget transparency and fiscal health, according to a recent report from Finance Director Susan Helton.
Helton informed the Bellaire City Council during last Tuesday's business meeting that the city won the 2024 Outstanding Budget Presentation Award. This is the third consecutive year that the City of Berea has earned this honor, bestowed by the Government Finance Officers Association. (GFOA), Helton said.
According to Helton, GFOA evaluates the excellence of budgets as policy documents, financial plans, operating guides and communication tools, among other 25 criteria. Mr. Helton praised the work of others who helped Mr. Berea win the award.
“That's a really high bar. Currently, there are only five other cities in Kentucky that have received this award. So from the department heads to the mayor to the city manager to the City Council, everyone who has received this award I hope you're all very proud of that. We're putting this budget together. We should all be very proud of this,” Helton said. “We hope this also gives the public confidence in the level of professionalism and transparency that the annual budget provides. It's a huge win for the city.”
Berea's annual budget can be found online at:
https://city-berea-ky-budget-book.cleargov.com/7940/introduction/transmittal-letter/
Steve Caudill, chairman of the City Council Audit and Finance Committee, said Berea's budget may be the clearest and most intuitive city spending plan he has ever seen, thanks to the efforts of the Department of Finance.
“Congratulations to you and the entire department and department chairs,” Caudill told Helton. “Very fast, intuitive and informative. Reviewing our budget online is exceptional from top to bottom compared to other budgets I've seen. It's all about you and your department. Thanks to your work.”
Among other economic news, Helton announced that the city of Bellaire received a high rating in Moody's research publication for investors and creditors. Bellaire received a high score in the annual Publisher Comments Report.
“Berea currently has a credit rating of AA3, which is classified as a high investment rating, which is a very good thing. “It says a lot about us,” Helton said.
