Who watches the Village’s Money?
The Board of Trustees provides budgetary authority through the adoption of an annual budget, approving all issuance of long-term debt and maintaining general oversight responsibility. The Village is staffed with professional accountants who maintain the books and records relating to the revenues and expenditures of the village. They also invest the Village’s money in conservative investments governed by state statute and the Village’s investment policy. In addition, the village board annually retains the services of an independent certified public accounting firm to audit the records and issue their opinion on the financial statements. The Village is also required to report to various state and federal authorities and is subject to audit or review at any time by the Office of the State Comptroller.
