Mayor Paul Braun accept the village’s 37th straight
annual award for achievement in financial reporting.
(Photo provided by the Village of Flossmoor)
Flossmoor is continuing its unbroken string of excellence in financial reporting, a record that goes back to the late 1970s.
For the 37th straight year, the village has received a certificate of achievement for excellence in financial reporting from the Government Finance Officers Association (GFOA), a nonprofit professional organization serving approximately 17,500 government financial professionals in the United States and Canada.
The certificate was awarded for Flossmoor’s accounting and financial reporting practices for the fiscal year that ended April 30, 2014.
Finance Director Scott Bordui presented the certificate to Mayor Paul Braun at the Sept. 8 village board meeting. Princess Jones, who acted as student mayor at the meeting, also accepted the award. She is a student at Parker Junior High School. Bordui said the village was notified about the award in February but just received the plaque medallion.
The award represents an ongoing and quantified commitment by Flossmoor to excellence in financial reporting and management, Bordui said. That, in turn, provides the “highest level of accountability” to the citizens, he said. The award has also been a factor in Flossmoor’s continued strong credit and bond ratings.
“Many village leaders, including past and present mayors, trustees, village clerks, village attorneys, village managers, finance directors, finance department employees, village management team members and pension board members have all played a role in this achievement,” Bordui said.
Only 1 percent of municipalities in the United States that, like Flossmoor, have less than 10,000 residents, receive the GFOA certificate for financial excellence, he said.
To be considered for the award, Flossmoor submitted its comprehensive annual financial report to the organization for review. GFOA volunteers and professional staff analyzed all sections of the report and ultimately came up with an overall grade. About 3,900 governments take part in the program every year.
The Government Finance Officers Association represents public finance officials throughout the United States and Canada. Association members are federal, state and local finance officials involved in planning, financing and implementing thousands of government operations. The organization promotes the professional management of governmental financial resources by identifying, developing and advancing fiscal strategies, policies and practices for the public benefit.
“The certificate of achievement 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,” GFOA Technical Services Director Stephen Gauthier said.