The Village of Algonquin, IL

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 2023 – 2024 budget.  This is the twentieth 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.

“The Village’s annual budget reflects our commitment to clear financial reporting and responsive service delivery,” said Village President Debby Sosine. “This approach ensures that we can continue to provide services that have a positive impact on our community while maintaining stable tax levels.”

Algonquin is one of approximately 24 municipalities in Illinois to be recognized by the program and was one of 331 governments nationally to receive the GFOA’s Triple Crown designation in 2021. The Triple Crown designation recognizes entities that received the GFOA’s awards for budget presentation and financial reporting. Each program certifies an entity’s financial documents meet nationally recognized standards for clarity, appeal, transparency, and overall quality.

Algonquin’s Fiscal Year 2023 – 2024 budget represents a balanced $76.6 million financial plan, featuring a property tax rate at the lowest level since 2011 and $25.2 million in capital infrastructure investment. The budget document is available for viewing online at www.algonquin.org/finance.