For the 36th consecutive year, Flossmoor has been recognized for excellence in governmental accounting and financial reporting.
The village was awarded the Certificate of Achievement for Excellence in Financial Reporting (CAFR) by the Government Finance Officers Association. Finance Director Scott Bordui said the award was presented for the fiscal year that ended in April 2013.
Bordui presented the CAFR plaque to Mayor Paul Braun on Monday, March 2 at Flossmoor Village Hall.
“To achieve a CAFR for 36 consecutive years is truly a wonderful achievement produced by the entire community of Flossmoor,” Bordui said. He thanked Finance Department staff members and said they are an integral part of the village’s continuing excellence in fiscal accountability.
Bordui said only 5.43 percent of cities, towns and village in the United States are awarded the certificate. Only 1 percent of communities with populations less than 10,000 – like Flossmoor – received
the certificate in 2012, the last year that data on the award was available.
“The award represents an ongoing and quantified commitment by the community to excellence in financial reporting and management that, in turn, provides significant benefit to the effectiveness of village government and provides the highest level of accountability to residents,” he said.
The award has also been a contributing factor in the village’s strong credit and bond ratings, which have been upgraded twice in the last 12 years; Flossmoor’s healthy financial position was recently ffirmed by the favorable issue of general obligation bonds for the village’s ongoing water main replacement project, Bordui said.
“Without the commitment of the mayor, trustees, village manager and the community itself, it would not be possible for the village to sustain its high level of excellence in financial reporting,” he said.
Trustee Perry Hoag praised Bordui and his staff and said Flossmoor’s record of sustained excellence in financial practices is “second to none.”
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.