Newburgh Receives Prestigious National Award

NEWBURGH – On Thursday, July 10, 2025, City Manager Todd Venning announced that the City of Newburgh has received North America’s most prestigious award for state and local government budgeting: the Distinguished Budget Presentation Award, conferred by the Government Finance Officers Association of the United States and Canada (GFOA). To receive this award, the City is required to satisfy international standards that assess how effective its budget serves as a financial plan, a policy document, an operations guide, and a communications device.

The GFOA Distinguished Budget Presentation Award adds to a series of recent recognitions received by the Newburgh City Council that confirm the City’s fiscal health under City Manager Todd Venning’s leadership.

In early March 2025, the City was awarded the GFOA Certificate of Achievement for Excellence in Financial Reporting for the third consecutive time in its history. The GFOA Certificate of Achievement for Excellence in Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting.

In August 2024, citing the City’s strong management team, Moody’s Investor Services upgraded the City of Newburgh’s credit rating to A1 from A3, and awarded the City its highest governance rating of “G1” – including its highest ratings for institutional structure, policy credibility & effectiveness, and budget management.

In October 2024, New York State Comptroller Thomas DiNapoli analyzed the City of Newburgh’s leading financial indicators including year-end fund balance, cash-on-hand, short-term borrowing, fixed costs, and patterns of operating deficits, and awarded the City a fiscal stress score of “0” – the best possible score – for the fifth consecutive year.