Hempstead earns budget honor


The Town of Hempstead recently received the Excellence in Financial Reporting Award for the 2012 fiscal year, presented by the independent, non-partisan Government Finance Officers Association.

Officials said the award, which is the highest municipal finance distinction nationwide, recognizes governments that practice the highest standards of fiscal management and budget transparency. It is the 10th straight year that Hempstead Town has won the award.

“I’m thrilled that the GFOA’s respected, independent accounting professionals are recognizing our town for a 10th straight year,” said Hempstead Supervisor Kate Murray. “The honor represents dedication to transparency, accountability and forthrightness in fiscal reporting."

Hempstead submitted its Comprehensive Annual Financial Report to GFOA. According to the organization, the CAFR was judged by an impartial panel to meet the program’s high standards, including “demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story.”

As governments across the region contend with economic challenges, Murray said, Hempstead continues to garner praise from independent financial analysts. She added that controlling costs and refraining from financial gimmicks are among the practices that assist the town in reaching its budget goals.

“At Hempstead Town, we pride ourselves on being fiscally responsible, while remaining committed to providing top-notch government services and programs,” she said. “I’m proud that the GFOA, for a decade now, has recognized our town for sound financial practices and responsible budgeting.”