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Lombard was recently awarded the Certificate of Achievement for Financial Reporting and the Distinguished Budget Award, for 30 and 31 consecutive years, for providing transparency and going beyond requirements of generally accepted accounting principles.
The Village was recognized with these awards by the Government Finance Officers Association of the United States and Canada (GFOA.) The Certificate of Achievement for Financial Reporting is the highest form of recognition for governmental accounting and financial reporting, and the Budget Award is the highest level of recognition that a municipality can achieve in the area of budgeting.
“We remain committed to long term fiscal responsibility,” said Village Trustee and Chair of the Finance and Administration Committee Reid Foltyniewicz. “Receiving these recognitions for more than 30 years reflects the Village’s dedication to making smart financial decisions.”
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.