The Village of Barrington strives to present the results of its financial operations in accordance with the highest standards of professionalism and with a commitment to honesty and integrity. Prior to the start of each fiscal year, Illinois Statute requires the Village to adopt an annual budget that establishes the expenditures that are legally authorized for the year. Within six months of the end of each fiscal year, the Village is required by statute to cause an audit of its financial operations to be performed and the results of that audit must be published in the form of financial statements.
The Statutory requirements for the budget and financial statements are minimum standards but Barrington has consistently chosen to present its annual budget and financial statements in accordance with standards established by the Government Finance Officer’s Association (GFOA), including the publication of a Comprehensive Annual Financial Report (CAFR) which is more comprehensive than basic financial statements. As a result, the Village has received the Certificate of Achievement for Excellence in Financial Reporting for more than 30 years and has received the Distinguished Budget Presentation Award for its Budget Documents for more than 10 years.
Click this link to access the Village’s financial documents.