Audits & Financial Reporting
The City is audited annually as required by the State of Illinois. A single audit is performed if expenditures of federal funds exceed $500,000 during the fiscal year. This is a requirement of the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement.
Financial Reports & Statements
Fiscal Year Budget
Each fiscal year, the City passes a budget ordinance, which is then filed with the Fulton County Clerk. The ordinance must be filed by the last Tuesday in April preceding the start of the fiscal year.
Fiscal Year Tax Levy
In December of each year, the City passes a tax levy ordinance which is filed with the Fulton County Clerk. The ordinance must be filed by the last Tuesday in December for taxes to be levied in the following fiscal year.
Approved Tax Levy
Monthly Treasurer & Disbursement Reports
At the Clerical Committee meeting each month, the Treasurer presents a Treasurer’s Report for the preceding month. A listing of all disbursements made in the prior month is also presented. In October of each year, the Treasurer produces the Annual Treasurer’s Report and Salary Publication.
Monthly Treasurer Reports
Annual Treasurer’s Reports & Salary Calculations
Compensation Public Act
Public Act 97-0609 states that any employer within the state of Illinois participating in the Illinois Municipal Retirement Fund is required to post the total compensation of any employee earning $75,000.00 in a total compensation package.