Your Tax Dollars At Work
The Village's Financial Cycle
The Village utilizes a fund accounting system to account for the resources necessary to operate and to maintain capital assets. The Village completes an annual financial cycle designed to plan how funds will be spent during the year, manage and track revenues and expenditures while the plan is in place, and report on final outcomes at year-end.
The annual budget is the key financial policy and planning document of the Village and outlines anticipated revenues and authorized expenditures for the Village in a given fiscal year (May 1 - April 30). The budget combines information from the Capital Improvement Plan, operating Departments and other sources and creates a comprehensive overview of the Village's funds. The draft budget is released each year in late February with the Board reviewing and approving it in April.
Current Budget Documents
Archived budget documents can be found here.
Capital Improvement Plan (CIP)
Current Capital Improvement Plan
Archived CIPs can be found here.
Quarterly Financial Reports
The Quarterly Financial Report summarizes the Village's activities in a given quarter. This report helps monitor the Village's financial performance and allows the Village Board to make "course corrections" as necessary.
Current Quarterly Financial Reports
Comprehensive Annual Financial Report (CAFR)
The Comprehensive Annual Financial Report (CAFR) is the Village's annual audit. It focuses on a single financial year and covers a variety of topics including the Village's overall financial standing and the standing of each fund. An independent auditor completes a review of the Village's financial practices and statements and includes an official letter summarizes its findings. The CAFR is the last piece of the Village's financial cycle and is released for the prior fiscal year each October.
The Village also prepares a Popular Annual Financial Report (PAFR) which is an easy to use snapshot of the CAFR.
Current CAFR Documents
Archived CAFR documents can be found here.
Vendor Expenditure Reports
Recent Vendor Expenditure Reports
Other Finance Documents
Review the Annual Treasurer's Report here.
Review documents related to the Village's debt profile (i.e. ratings and bond obligations) here.