Page 5 - 2020-21 Budget Summary

The Government Finance Officers Association of the United States and Canada
(GFOA) presented an award of Distinguished Budget Preparation to the City of
Los Angeles for its annual budget for the fiscal year beginning July 1, 2019.

In order to receive this award, a governmental unit must publish a budget
document that meets program criteria as a policy document, as an operations
guide, as a financial plan and as a communication device.

The award is valid for a period of one year only. We believe our current budget
continues to conform to program requirements, and we are submitting it to
GFOA to determine its eligibility for another award.