Title
Recognition of GFOA Certificate of Achievement for Excellence in Financial Reporting
History
Finance is proud to share that the Village has been awarded the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting. The highest recognition in governmental accounting. This award reflects the Village’s commitment to transparency, full disclosure, and exceeding standard financial reporting requirements.
When a Certificate of Achievement is awarded, an Award of Financial Reporting Achievement (AFRA) is also presented to the individual(s) or department designated as primarily responsible for earning the Certificate. This award has been issued to the Finance Department.
This achievement is particularly notable given the significant progress made by the Finance Department recently. The team has been strengthened with high-quality internal staff, successfully stabilized a previously challenging ERP implementation, and brought the organization fully up to date by completing three audits over the past year and a half. These efforts reflect a strong organizational turnaround and establish a solid foundation for continued excellence in financial reporting.
In addition, the 2025 audit is currently underway and is on track for early completion, with presentation to the Board anticipated at the first meeting in June 2026.
Financial Impact
There is no immediate direct financial impact associated with the acceptance of this award. However, this recognition enhances the Village’s credibility, transparency, and reputation for sound financial management, and may support future rate reviews and the maintenance of the Village’s AA+ rating with Standard & Poor’s.
Recommended Action/Motion
Discussion only.
This recognition reflects the Village’s commitment to excellence in financial reporting and responsible fiscal management