Park Forest Awarded Financial Reporting Honors

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Mayor Ostenburg accepts the budget awards from Beverly Sterrett. (PHOTO VOPF)

Thirteeth Year in a row for Distinguished Budget Presentation Award

Park Forest, IL–(ENEWSPF)– Two more nails will go into the wall of the Village Hall Board Room this week to accommodate a pair of recent awards: the Distinguished Budget Presentation Award and the Certificate of Achievement for Excellent in Financial Reporting.

Beverly Sterrett, Finance Director for Sauk Village and past president of the South Metro Chapter of Illinois Government Finance Officers Association, was on hand for the Board Meeting March 9th to formally recognize the efforts of Village staff.

After several minutes of commendation, Sterrett presented two plaques to Mayor John Ostenburg.

This is the thirteenth consecutive year the Village has won the Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada.

In order to receive the Budget Award, the Village had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines were designed to assess how well the budget document fulfills four major purposes:

  • The budget document should serve as a policy tool
  • The budget should present a clear financial plan
  • The budget should be a guide for the organizations’ operations
  • The budget should serve as a communications medium

The Village was also recognized with the Certificate of Achievement for Excellence in Financial Reporting by GFOA.

To receive this honor, the Village had to substantially conform to the program’s demanding criteria, which go well beyond the minimum requirements of generally accepted accounting principles.

“We are pleased once again to receive this recognition,” Finance Director Mary Dankowski said on the awards. “During these difficult economic times, it is especially important that the Village of Park Forest operates with sound financial practices.”

Of the 2,824 cities and counties in Illinois, only 60 units receive both awards. That represents 2% of all cities and counties.

While Dankowski is thrilled to see the Village honored once again in this elite group, she wants every year to continue this trend of recognition.

“The Village is committed to a process that not only provides adequate financial planning, but also fulfills award-winning reporting criteria.”

Source: VOPF.COM