News - Kane County

Geneva wins three financial reporting accolades

The Government Finance Officers Association of the United States and Canada has honored Geneva with a trio of financial reporting awards based on fiscal year 2021, according to a news release.

The city received the following accolades:

  • Distinguished Budget Award: Geneva satisfied best practice standards, including how well an entity’s budget serves as a policy document, a financial plan, an operations guide and a communications device. Budget documents must be rated “proficient” in all four categories, as well as the 14 mandatory criteria within those categories, to receive the award.
  • Annual Comprehensive Financial Report: Geneva’s audit report contains financial statements and records from the past decade, property tax and debt data and general statistical information. The award demonstrates the city’s “spirit of full disclosure” to clearly communicate its financial picture to the public.
  • Popular Annual Financial Report: For those not inclined to read the 200-page audit report, the City’s Popular Annual Financial Report provides a nice alternative. This 17-page, visually-friendly audit summary filled with photos and graphs offers readers a better understanding of the complexities of government finances and other helpful information. The association bestowed the PAFR award to Geneva for the fifth consecutive year.

Geneva’s budget and financial reports can be found at www.geneva.il.us.