Financial Reports and Budgets
Comprehensive Annual Financial Report
The Village adheres to the highest forms of budgeting and financial reporting. An annual audit of the Village is completed every year and the Village prepares a Comprehensive Annual Financial Report (CAFR) for the fiscal year. The current CAFR as of May 31, 2012 is available as well as past reports. As evidence of its strong municipal financial management and commitment to financial reporting and disclosure, the Village has received for twelve (12) consecutive years since 2001 the Certificate of Achievement for Excellence in Financial Reporting for its CAFR from the Government Finance Officers Association (GFOA). To the right is the Village's CAFR for the fiscal year ending May 31, 2012 as well as past reports.
Annual Village Budget
The Village annual prepares a budget to guide operating and capital spending and resource allocation for the coming fiscal year. The FY 2013-14 Annual Budget is available which provides a comprehensive and easy to follow guide for anticipated revenues to be received and expenditures to be made.
The Village prepares its budget in accordance with highest standards as evidence by the receipt of the GFOA Distinguished Budget Presentation Award for its FY 2012-2013 Annual Budget. In order to qualify for this award, a government must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. This was the seventh consecutive year that the Village received this award.
By managing its finances in a progressive manner, the Village received in 2013 an upgrade in its bond rating from AA- to AA by Standard and Poor's. This rating is only two notches below the highest rating possible. Please view the report from Standard and Poor’s for more information. Standard and Poor Report
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