FOR IMMEDIATE RELEASE: Dec. 5, 2016
TEACHER RETIREMENT SYSTEM OF TEXAS (TRS) RECEIVES PRESTIGIOUS BUDGET AWARD
AUSTIN – The Government Finance Officers Association of the United States and Canada (GFOA) today announced TRS has received the GFOA’s Distinguished Budget Presentation Award.
According to a news release issued by the GFOA, the award represents a significant achievement by the entity receiving it. It reflects the commitments of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the award, TRS had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines assess how well an entity’s budget serves as:
- A policy document
- A financial plan
- An operations guide
- A communications device
Budget documents must be rated “proficient” in all four categories, and the 14 mandatory criteria within those categories, to receive the award.
TRS’ Chief Financial Officer Don Green said, “Since this is TRS’ first attempt at achieving such distinction, I’m proud of the budget staff’s accomplishment. It is important to note that for budgets beginning in 2015, TRS was one of only 1,565 participants to receive the award out of 90,000 governmental entities in North America. What’s more important, this award further demonstrates our desire to provide TRS members and other stakeholders with highquality and timely information.”
The GFOA is a major professional association servicing the needs of nearly 19,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners. It provides top quality publications, training programs, services, and products designed to enhance the skills and performance of those responsible for government finance policy and management. The GFOA’s Distinguished Budget Presentation Awards Program is the only national awards program in governmental budgeting.
The Teacher Retirement System of Texas (TRS) is one of the largest retirement systems in the nation. The system's core mission is to make a positive difference in the lives of Texas educators by prudently investing and managing trust assets and delivering member benefits. As of August 31, 2024, TRS pension fund had a market value of $209.5 billion.