The Village of Algonquin, IL

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Algonquin Earns Budget Award

The Government Finance Officers Association of the United States and Canada (GFOA) announced that the Village of Algonquin has received the GFOA's Distinguished Budget Presentation Award for its Fiscal Year 2022 – 2023 budget.  This is the nineteenth consecutive year the Village has received this prestigious award.

To receive recognition, government entities must satisfy nationally recognized guidelines for effective budget presentation. The award demonstrates the commitment of the Village Board and staff to achieve the highest standards and best practices of governmental budgeting and fiscal management.

“Clear and transparent financial reporting to our community has been a priority of the Village Board and staff,” said Village President Debby Sosine. “Through these collective efforts, we have been able to lower property taxes for our residents and continue to provide efficient and effective services.”

Algonquin is one of approximately 120 municipalities in Illinois to be recognized by the program and was one of 317 governments nationally to receive the GFOA’s Triple Crown designation in 2020. The Triple Crown designation recognizes entities that received the GFOA’s awards for Certificate of Achievement for Excellence in Financial Reporting (audit award), Popular Annual Financial Reporting Award (financial report award) and the Distinguished Budget Presentation Award (budget award) in a single fiscal year.  Each program certifies an entity’s financial documents meet nationally recognized standards for clarity, appeal, transparency, and overall quality.

Algonquin’s Fiscal Year 2022 – 2023 budget represents a balanced $72 million financial plan, featuring a property tax rate at the lowest level since 2011 and $28.3 million in capital infrastructure investment.  The budget document is available for viewing online at www.algonquin.org/finance.