Audits

---

 State law and local ordinance require the Village to annually prepare financial statements in conformity with Generally Accepted Accounting Principles (GAAP) within six months after the fiscal year's close. 

The Comprehensive Annual Financial report or Audit, is a culmination of the past year's financial activity and is the formal mechanism used to communicate to the public the financial status of the Village and its compliance with applicable laws and the intentions of the Village Council. The financial statements are audited by an independent licensed, certified public accounting firm in accordance with Generally Accepted Auditing Standards. The Village's fiscal year runs from May 1 through April 30.