Comprehensive Annual Financial Report (CAFR)
State law and local ordinance requires the Village to complete a set of financial statements which are presented in conformity with generally-accepted accounting principles (GAAP) within six months following the close of the fiscal year.
The report is a culmination of the past year's financial activity and is the formal mechanism used to communicate to the public the financial status of the Village and its compliance with the intentions of the Village Board
and applicable laws. These financial statements are audited by a licensed, certified public accounting firm in accordance with generally-accepted auditing standards. The Village's fiscal year runs May 1 through April 30.
Certificate of Achievement
The Village of Willowbrook has received the Certificate of Achievement for Excellence in Financial Reporting award from the Government Finance Officers Association
each year since 1989. This award recognizes communities that go beyond the minimum requirements of generally accepted accounting principles to prepare a report that evidences the spirit of transparency and full disclosure.