Politics & Government
City Budget Discussions Begin this Summer
Mayor Nancy Rotering encourages residents to stay informed about how the city spends tax dollars.
On Monday night, the City Council accepted the 2011 Comprehensive Annual Financial Report (CAFR).
The City publishes the CAFR every year to provide a complete set of audited financial statements and management's report on the City's finances. I am pleased to let you know that an independent accounting firm gave this CAFR "an unqualified opinion with respect to the accuracy and fairness of the presentation of the City's financial position and its conformance with generally accepted accounting principles."
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Also, for the 27th year in a row, the City received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada.
To make this important information as accessible as possible, the CAFR will be available in a day or so on the City website www.cityhpil.com in the "Know Your City's Finances" section.
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Highlights of the 2011 report include the restructuring of some of the funds over the last two years. The goal was to improve transparency, clarity and financial sustainability as well as to better correlate revenues and expenditures. We are also now making quarterly financial reports available (on the City website) to directly illustrate our financial status in a simplified manner and with greater frequency.
We are proud that the City continues to hold a Aaa bond rating (the highest available). In addition, the City maintains healthy reserves to protect us financially through emergencies and other unexpected expenses.
FY2013 Budget discussions will begin this summer. Once again, the meetings will be open to the public. If you can't join us, you can always view the meetings on the City's website.
Go to: Watch Live Meetings on the left-hand side of the home page and follow the prompts.
It's your money. These reports and meetings serve to keep you informed about how your dollars are being managed and spent, as well as the policy decisions, economic factors and laws that impact their use.
Questions? Want more information? Contact our Deputy Finance Director at 847-926-1000.
Nancy Rotering
Highland Park Mayor
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