Village of Lombard Receives Financial Awards

The Certificate of Achievement for Financial Reporting is the highest form of recognition in the area of governmental accounting and financial reporting and its attainment represents a significant accomplishment by a government and its management. Likewise, the Budget Award is also one of the highest forms of recognition a municipality can achieve in the area of budgeting.

“Many kudos to our Finance Department for developing an 18-month budget, so the Village of Lombard could switch from a fiscal year to a calendar year budget,” said Trustee Greg Gron, Chair of the Village's Finance Committee. “The Board decided and approved last year, after lengthy discussions with staff, that the change to a budget calendar year would be more beneficial for everyday operations. One big plus would be in preparing earlier for the construction seasons,” Gron added.

“Thanks also to my Finance Committee for their due-diligence in going over the many documents which were needed to do a short budget for the last half of 2012, and then the full budget for calendar year 2013, which will start January 1st, 2013,” he added.

Both awards were judged by an impartial panel to meet the high standards of the program, including demonstrating a constructive spirit of full disclosure when it comes to financial reporting and the Village budget.

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago and Washington, D.C.