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Posted on: January 20, 2017

Village Receives Awards Recognizing Financial Reporting

At the January 19th meeting of the Village of Woodridge Mayor and Board of Trustees, Finance Director Nadine Alletto presented her staff with two awards - a Certificate of Achievement for Excellence in Financial Reporting and Award for Outstanding Achievement in Popular Annual Financial Reporting from the Government Finance Officers Association. This recognition represents the 12th year in row that Village has received the Certificate of Achievement and the 3rd year in a row the Village has received the Award for Outstanding Achievement. Both awards are a testament to the organization’s dedication to fiscal responsibility and sound financial management.

The awards represent the highest form of recognition in the area of governmental accounting and financial reporting. Both reports were judged by an impartial review panel and determined to meet the high standards of their respective programs including demonstrating a constructive “spirit of full disclosure” to clearly communicate a financial story and motivate individuals to read the report.

The Certificate of Achievement for Excellence in Financial Reporting recognizes the Village’s Comprehensive Annual Financial Report (CAFR), which contains an independent auditor’s report, general purpose financial statements, an accounting for all Village funds, and statistical information such as financial trends, revenue capacity, debt capacity, operating information and more. In sum, the report consists of information related to the Village’s financial position.

The Award for Outstanding Achievement in Popular Annual Financial Reporting recognizes the creation of a Popular Annual Financial Report (PAFR) that is easily readable, efficiently organized, and meets the program standards of creativity, presentation, understandability, and reader appeal.

“Fiscal responsibility and government transparency are long-standing priorities for the Village,” said Mayor Cunningham. “We are fortunate to have such talented staff that are committed to professional financial management.”

Woodridge is one of the select local governments nationwide to receive the Certificate of Achievement and the Award for Outstanding Achievement. The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL, and Washington, D.C. Those interested in viewing more financial reports published by the Village can do so by navigating to Financial Reports under the Finance menu on the Government tab.
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