Within six months after the end of each fiscal year, the municipal treasurer must prepare a statement of receipts and disbursements. This statement is known as the "Annual Treasurer's Report," and its requirements are found in the Illinois Compiled Statutes 65 ILCS 5/3.1-35-65. The report is published annually in the local newspaper.
Each report contains the following information:
- A listing of revenues, expenditures and changes to governmental funds
- A listing of all vendors receiving more than $2,500 by name and amount
- The total amount disbursed to vendors receiving less than $2,500
- The name and gross amount received in compensation by each elected official and employee; this disclosure of payroll-based compensation is allowed to be formatted in pay ranges rather than a separate amount for each individual under the Act.
In the interest of transparency, the Village also has added this report to its Transparency Portal (Open Government disclosures) following its annual publication.
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