The Village annually prepares a budget to guide operating and capital spending and resource allocation for the coming fiscal year. The FY 2021-22 Annual Budget is available (below) 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 evidenced by the receipt of the GFOA Distinguished Budget Presentation Award for its FY 2021-22 Annual Budget for the 16th consecutive year. 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.
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 Annual Comprehensive Financial Report for the fiscal year. The current report is available below, 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 twenty (20) consecutive years since 2001 the Certificate of Achievement for Excellence in Financial Reporting for its Annual Comprehensive Financial Report from the Government Finance Officers Association (GFOA).
- 2021 Annual Comprehensive Financial Report
- North Aurora Management Letter FY21
- 2020 Annual Comprehensive Financial Report
- North Aurora Management Letter FY20
- 2019 Annual Comprehensive Financial Report
- North Aurora Management Letter FY19
- 2018 Annual Comprehensive Financial Report
- North Aurora Management Letter FY18
- 2017 Annual Comprehensive Financial Report
- North Aurora Management Letter FY17
The purpose of the PAFR is to summarize and convey the Village of North Aurora’s financial activities to its citizens and stakeholders in an easy to read format. The twelve-page report highlights information from the Village’s Comprehensive Annual Financial Report, so residents and users can quickly gain an understanding of the Village’s financial activities from the prior year and overall financial condition. This is the fourth consecutive year that the Village has received the GFOA’s award for Popular Annual Financial Reporting. This document also includes the Village’s demographics, major operating funds, and significant projects planned for the upcoming fiscal year along with accomplishments from the previous fiscal year.
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.