Finance Department
Village of Gurnee Proposed Budget for May 1, 2010 - April 30, 2011
Comprehensive Annual Financial Report (CAFR) NEW!
The 2008-2009 CAFR is available online in PDF format.
About the Finance Division
The accounting and financial reporting functions of the Village are centralized in the Administration Department under the
supervision of the Finance Director. Finance division activities include: accounting, accounts payables, accounts
receivables, auditing, budget, business licensing, debt management, financial reporting, payroll, purchasing, revenue
collection, risk management, and treasury operations. The Division disburses approximately 530 paychecks/direct
deposits per month, and pays an average of 800 vendor invoices monthly. The division collects and processes nearly 200
tax returns monthly related to the locally collected Amusement Tax, Hotel Tax, and Food & Beverage Tax. Finance also
handles utility billing and receipts, with meter readings taken by the Water Utility. Currently, the Village has over 9,000
water accounts. The Division also coordinates preparation of the annual budget on a basis consistent with generally
accepted accounting principles. Budget status and expenditure reports are prepared and presented to the departments
and the Village Board on a quarterly basis. In addition, an annual audit is performed by external auditors retained by the
Village Board. The resulting financial statements and Audit Opinion are compiled by the Finance Director into a
Comprehensive Annual Financial Report (CAFR).
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