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Flossmoor marks 39 years of recognition for excellence in financial reporting

It’s become something of an annual event for Flossmoor officials, but one that’s still extremely important to them.

For the 39th straight year, the village has been recognized for excellence in financial reporting by the Government Financial Officers Association (GFOA).

On Monday, Flossmoor Finance Director Scott Bordui presented the organization’s Certificate of Achievement for Excellence in Financial Reporting (CAFR) to Mayor Paul Braun and the village board.

 Bordui said to receive CAFR recognition for 39 consecutive years “is truly a fantastic achievement produced by the entire community of Flossmoor.”


The award shows that Flossmoor is “meeting the village’s goal of having the highest level of accountability,” Bordui said.

 He thanked village officials, past and present, for their role in keeping Flossmoor fiscally sound, and said Finance Department staff members deserve credit for the work that they accomplish.

As a CAFR recipient, Flossmoor is in elite company, Bordui said. In 2015, the most recent year with published data, only 5.69 percent of communities in the United States and 1.02 percent of towns with less than 10,000 residents – like Flossmoor – received CAFR awards, he said.

The award has also been a contributing factor in Flossmoor’s continued strong credit and bond ratings, Bordui said. Those ratings have been upgraded twice in the last 15 years, which he said is especially significant in the aftermath of the national economic downturn in 2008.

In a news release from GFOA, the organization said the Certificate of Achievement is awarded following a review by an impartial panel. GFOA is a non-profit professional association serving 17,500 government financial professionals in the United States and Canada.

CAFR recognition, the organization says, “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.”

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