Algonquin Lauded for Financial Accounting

From the Village of Algonquin:

Algonquin Receives Award for Comprehensive Annual Financial Report

Village Recognized for the Sixteenth Consecutive Year

ALGONQUIN, IL – The Certificate of Achievement for Excellence in Financial Reporting has been awarded to the Village of Algonquin by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). 

Algonquin Village Hall

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

This is the sixteenth year in a row in which the Village has been awarded this distinction.  Algonquin is one of 159 municipalities in Illinois to receive this recognition.

“The award culminates a year-round process to ensure that the Village is reporting its finances in a transparent and accurate manner, stated John Schmitt, Village President. “Our commitment to fiscal responsibility will be of great help through these difficult and unprecedented times.”

The CAFR has been judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

The Village of Algonquin’s Comprehensive Annual Financial Report for Fiscal Year 2018 – 2019 is available online at www.algonquin.org/finance.


Comments

Algonquin Lauded for Financial Accounting — 4 Comments

  1. The Certificate is a joke.

    The purpose of public accounting is to obfuscate.

    Municipal audits reveal if a government spent more than it took in and not much else.

    You can’t look at a municipal audit and figure out how much was spent on police, how much on the fire department, how much for road maintenance.

    You can’t tell how much went for wages and how much for benefits.

    You certainly can’t tell if the amount spent is comparable to what other municipalities spend, per capita, or per mile of road, or by any other metric.

  2. There ought to be a law against spending tax dollars to get this sort of certificate.

    The Sheriff’s Office pulls this same sort of nonsense.

    A village the size of Algonquin would have to pay $1,060 for this award.

    The price is cut to $530 if Algonquin is a member of the GFOA.

    The price is just for the award, not for any busy work the Village might have to do in order to qualify.

    https://www.gfoa.org/sites/default/files/CAFRApplication.pdf

  3. Wilson is right.

    These rackets must be shut down.

    Jim Condon, Mchenry Road Dist bosshog has over 20 of these!

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