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Finance

Awards
Achievement for Financial Reporting Excellence
The Village of Orland Park Finance Department is the recipient of the Government Finance Officers Association of the United States and Canada (GFOA) Certificate of Achievement for Excellence in Financial Reporting for 21 consecutive years. To receive this prestigious award, the municipality must publish an easily readable and efficiently organized Comprehensive Annual Financial Report (CAFR). This report must satisfy both generally accepted accounting principles and applicable legal requirements.

Distinguished Budget Presentation Award
In addition, the Finance Department is the recipient of the GFOA Distinguished Budget Presentation Award for the past 21 years. In order to qualify for this award, the village's budget document was judged to be outstanding in several categories including:
  • Policy documentation
  • Financial summaries
  • Organization

Financial Stability and Health
Bond Ratings
The village continues to receive exceptional bond ratings from each of its rating agencies. During its most recent bond issuance, the village received an AA+ rating from Standard & Poor's and Aa1 rating from Moody's.
Fund Balance Policies
The village board has approved fund balance policies for its funds. These fund balance policies are key factors in determining funds available for operating and capital expenditures. Reserve policies are set to provide adequate protection for the future. The fund balances reflected in the Fiscal Year 2013 budget meet or exceed Board approved policy requirements.
Revenue Sources
The village has seen numerous revenue sources show signs of improvement since the declines that occurred in fiscal years 2009 and 2010. The village's largest revenue source originates from the 1% sales tax. In addition to sales, property and income tax revenue, the village utilized its Home Rule status to assess a .75% home rule sales tax. Even through the village enjoys Home Rule status, there are many untapped taxes utilized by other municipalities that the village has not imposed due to its financial stability. They include: real estate transfer tax, restaurant food & beverage tax, amusement tax, off track betting tax, packaged liquor tax, and foreign fire insurance tax, to name a few.

Responsibilities
The Finance Department is the fiscal collection and control agency of the village. It safeguards assets through adherence to sound financial management practices and procedures. It also provides the public, Village Board and staff with the financial analysis needed to develop appropriate policies. The department establishes and maintains effective accounting and internal control systems and continually enhances the village's financial management and reporting systems. Primary functions include budget preparation, audit oversight, investment of cash, collection of revenues, analysis of expenditures, purchasing, accounts payable, payroll, water billing, contract administration and risk management.

Financial Documents
The following financial documents are the most current available for viewing. The CAFR details the results of the village's most recent year end audit.  The budget displays the revenue and expenditures expected for the year overall and by department, along with prior year actual information. The village's capital plan identifies planned capital improvements for a 10-year period and applicable funding sources for the current budget year. The projects planned for the 2013 fiscal year are reflected in the capital improvements section of the village's annual budget.

Previous year CAFR's and Budgets can be viewed in the Citizen Information Center.

          2012 CAFR                   2014 Budget               2013 10-Year Capital Plan
                                 
Contact Us
Annmarie Mampe
Annmarie Mampe

Finance Director
Contact Finance

14700 S. Ravinia Ave.
Orland Park, IL 60462

Ph: 708-403-6170
Fx: 708-403-9212

Hours
Monday - Friday
8 a.m. - 5 p.m.

First and third Monday of the month
8 a.m. - 7 p.m.