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Flossmoor continues streak, receives financial reporting recognition 45th year

Flossmoor Finance Director Scott Bordui performed a familiar duty at the village board meeting on Oct. 2, presenting the 45th consecutive Certificate of Achievement for Excellence in Financial Reporting from the Government Financial Officers Association.

The award was for fiscal year 2022.

Bordui and Assistant Finance Director Ann Novoa presented a plaque honoring the village to Mayor Michelle Nelson.

From left, Flossmoor Finance Director Scott Bordui, Mayor Michelle Nelson and
Assistant Finance Director Ann Novoa with a plaque Bordui presented to the mayor
recognizing the village’s 45th straight Certificate of Achievement for
Excellence in Financial Reporting award. (Eric Crump/H-F Chronicle)

“It’s really viewed as a communitywide achievement, to really be celebrated by the community,” Bordui said. “In many ways, it’s how the world views Flossmoor, similar to our bond rating. This award brings instant enhanced credibility and prestige.”

He said the achievement represents the community’s commitment to professional management and reporting and village government’s commitment to the highest level of accountability to its residents.

Bordui said the COVID-19 pandemic was still affecting village finances in 2022, so that made it especially challenging to meet the standard for the award.

“We’re very proud of the finance team for this award,” he said.

He said the practices that have qualified the village for the award 45 times in a row have tangible benefits for residents. The village’s AA+ credit rating is one example.

“It has saved thousands of dollars in interest costs and property taxes for the residents,” he said.

Bordui noted that less than 6% of all cities, towns and villages in the country earn the award, and only 1.04% of villages with less than 10,000 population, like Flossmoor, make the cut.

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