Paonia, Colorado – The Town of Paonia is proud to announce that it has been awarded the Government Finance Officers Association (GFOA) Distinguished Budget Presentation Award for its 2025 Budget. This prestigious recognition marks a significant milestone in Paonia’s ongoing efforts to enhance financial transparency and accountability.
The award reflects the commitment of the Town’s leadership and staff to meeting the highest principles of governmental budgeting. To qualify for the award, the Town of Paonia had to meet nationally recognized guidelines assessing the effectiveness of its budget as:
A policy document
A financial plan
An operations guide
A communications device
Budget documents must be rated "proficient" in all four categories, including fourteen mandatory criteria, to receive the award. With over 1,700 participants in the Budget Awards Program across the nation, Paonia’s achievement stands as an example of excellence in governmental budgeting and financial management.
This recognition is particularly meaningful given the Town’s past financial challenges. In 2012, Paonia experienced a significant setback due to embezzlement, which resulted in financial instability and a loss of public trust. Since then, the Town has implemented stringent financial oversight policies, improved transparency measures, and prioritized accountability in all budgeting processes. Specifically, the Town adopted Ordinance 2024-03 which enacted and established a purchasing and procurement policy, including ethical standards for purchasing activities.
“We are honored to receive this award, which affirms our commitment to responsible financial stewardship,” said Paige Smith, Mayor of Paonia. “This achievement is a testament to the hard work of our staff and Trustees and the trust of our residents as we continue to rebuild and strengthen our financial foundation.”
The Town of Paonia remains dedicated to upholding the highest standards in government finance and will continue striving for transparency, efficiency, and fiscal responsibility in serving its community.
The Town Administrator & Treasurer for Paonia, Stefen Wynn, said, “I’m thrilled that the Town has been recognized for its efforts to improve transparency within our finances and I’m grateful for a Mayor and Board of Trustees that continue to commit us to higher standards of financial reporting.”
For more information about the GFOA Distinguished Budget Presentation Award and to view the list of recipients, visit www.gfoa.org.
To view Paonia’s 2025 Budget, visit www.townofpaonia.gov/media/4946.
