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The original item was published from 3/22/2010 1:58:10 PM to 4/3/2010 12:00:07 AM.

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Posted on: March 22, 2010

[ARCHIVED] Village Receives Certificate of Achievement for Excellence in Financial Reporting

The Village of Willowbrook has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for its fiscal year 2009 comprehensive annual financial report (CAFR). The Certificate of Achievement is considered the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by the Village’s management and staff.

The GFOA is a nonprofit, professional association that serves over 17,500 government finance professionals nationally. Through its award program, Willowbrook’s CAFR has been judged by an impartial panel of finances officers—meeting the program standards of demonstrating full disclosure to clearly communicate the Village’s financial picture and to motivate stakeholders to read and use the government financial statements.

Over 3,500 units of government participate in this program annually. The Certificate can be a positive factor for credit rating agencies, but overall, it demonstrates the quality and professionalism present in a government’s finance function. Willowbrook is proud of its long history of receiving this award (every year since fiscal year 1989), as well as the GFOA’s Distinguished Budget Presentation Award.

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