The Finance Department is responsible for maintaining the financial records of the Village, including collecting all monies due to the Village, assuring all obligations are properly paid, safeguarding the Village’s assets and generally providing financial information and support to all Village departments. The main concentration of the Finance Department is to ensure the Village’s fiscal resources are utilized in an efficient and effective manner consistent with the policies set forth by the Mayor and Village Board.
To fulfill these responsibilities, this department is responsible for establishing and maintaining a system of internal controls designed to protect the assets of the Village from loss, theft or misuse and to ensure that adequate accounting data is available for the preparation of financial statements in conformity with generally accepted accounting principles.
Financial Reporting Awards
State law requires the Village to prepare a complete set of audited financial statements, also referred to as a Comprehensive Annual Financial Report (CAFR), within six months of the close of each fiscal year. For the past thirty (30) consecutive years, the Village has received national recognition of its CAFR by being awarded the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association. This program requires preparation of financial statements in accordance with detailed program criteria which help ensure a financial report that is well organized and easily readable as well as ensuring a spirit of complete disclosure and comparability with other local government financial statements.