Lake in the Hills awarded with a Certificate of Achievement for excellence in financial reporting

LAKE IN THE HILLS — The Government Finance Officers Association (GFOA), a professional organization comprised of approximately 21,000 state, provincial, and local government finance officers in the United States and Canada, recently awarded the Village of Lake in the Hills (LITH) with the Certificate of Achievement for Excellence in Financial Reporting.

The achievement certificate was awarded to the village for its Annual Comprehensive Financial Report (ACFR) for the fiscal year that ended on Dec. 31, 2020. This is the 22nd consecutive year that the village has earned this recognition.

LITH officials state that the Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment “represents a significant accomplishment by the Village, its management, and its Finance Department.”

“This award reaffirms the Village’s longstanding commitment to excellence and transparency in public finance,” said LITH Finance Director Peter Stefan in a press release statement. “We look forward to the continued pursuit of these principles throughout our operations.”

An impartial panel determined that the ACFR report met the high standard of the program, including the demonstration of a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

“For more than two decades, Village officials and staff have dedicated themselves to achieving the highest standards of financial reporting to produce an Annual Comprehensive Financial Report worthy of this recognition,” said LITH Village Administrator Shannon Andrews in a press release statement. “The Village looks forward to building on this achievement.”

Individuals interested in viewing the award-winning Annual Comprehensive Financial Report may do so by visiting lith.org.

Interested individuals will also be able to view annual budget documents and Popular Annual Financial Reports.

According to the village, the GFOA advances excellence in government finance by providing best practices, professional development, resources, and practical research for more than 21,000 members and the communities they serve.