Algonquin Receives Award For Popular Annual Financial Report

From the Village of Algonquin:

The Village of Algonquin was recognized by the Government Finance Officers Association of the United States and Canada (GFOA) for Outstanding Achievement in Popular Annual Financial Reporting for its Popular Annual Financial Report (PAFR) for Fiscal Year 2018 – 2019.

The PAFR is a summarized report that presents the complex information found within the Village’s Comprehensive Annual Financial Report (CAFR) in an understandable format for readers without background in public finance. Unlike the CAFR, the PAFR is an elective report prepared by the Village; it is not required by state statute.

This is the second year the Village has produced a PAFR and the second consecutive year it has received the distinction. In 2018, only 22 municipalities in Illinois received the award.

“We should be proud; this accomplishment is a testament of the continuous efforts made by our staff to uphold best practices in financial reporting,” said Village President John Schmitt. “Our commitment to fiscal responsibility will be of great help through these difficult and unprecedented times.”

The Village of Algonquin’s Popular Annual Financial Report for Fiscal Year 2018 - 2019 is available online at www.algonquin.org/transparency.

This press release was produced by the Village of Algonquin. The views expressed here are the author’s own.