News - McHenry County

Algonquin earns budget award for 19th straight year

The village of Algonquin received an award meant to recognize budgets that are accessible to the public for its 19th straight year.

The Government Finance Officers Association of the United States and Canada awarded Algonquin its Distinguished Budget Presentation Award for its fiscal 2023 budget, according to a news release.

To receive recognition, government entities must satisfy nationally recognized guidelines for effective budget presentation. The award demonstrates the commitment of the village board and staff to achieve the highest standards and best practices of governmental budgeting and fiscal management, according to the release.

Algonquin is one of about 120 municipalities in Illinois to be recognized by the program and was one of 317 governments nationally to receive the association’s Triple Crown designation in 2020, which recognizes entities that received its three awards for financial reporting in a single fiscal year.

Algonquin’s fiscal 2023 budget represents a balanced $72 million financial plan, featuring a property tax rate at the lowest level since 2011 and $28.3 million in capital infrastructure investment, the village said in the release. The budget document is available for viewing online at algonquin.org/finance.

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