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, 2016 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 fifteen (15) consecutive years since 2001 the Certificate of Achievement for Excellence in Financial Reporting for its CAFR from the Government Finance Officers Association (GFOA).
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 2015-16 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 2015-16 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 tenth consecutive year that the Village received this award.
By managing its finances in a progressive manner, the Village maintained in 2014 its bond rating of AA+ by Standard and Poor's. This rating is only one notche below the highest rating possible. Please view the report from Standard and Poor’s for more information. Standard and Poor Report