Budget & Accounting
Q: What is a CAFR?
A: A CAFR or Comprehensive Annual Financial Report is a set of financial statements that complies with the accounting principles set by the Government Accounting Standards Board (GASB). These reports are audited by an external firm to ensure accuracy and thoroughness. The CAFR outlines all financial investment and income records, net assets, revenues and expenses, cash and investment information, capital asset information, pension and benefit liability as well as debt information.
Q: What is the difference between a CAFR and a budget?
A: The budget is a blueprint detailing expected revenue and projections on how it will be spent. The CAFR is a complete showing of all financial investment, expense and income records from all sources overall for the past years.
Q: How do I sign up for Electronic Payment from the County?
A: If you are a supplier or vendor and would like to receive electronic payments please fill out our W-9 Supplier Registration form located here (include form and instructions) and return the form along with a voided check by email to firstname.lastname@example.org or fax to 847-984-5780. If you have additional questions or need assistance filling out the form please call 847-377-2650.
Q: How often is the County audited?
A: The County is audited once a year by an external firm to ensure accuracy and thoroughness in its financial reporting. In addition to the outside firm the County performs its own audits. Departments are reviewed once every six years thought changes in the department such as key staff turnover or significant changes in revenue or expense may necessitate a review. Internal control reviews are performed for process involving cash receipts, revenue recovery, accounts receivable, cash disbursements, revolving funds, purchasing and contract administration, trust and special department funds, payroll and budgeting.
Q: What type of items and services does Lake County purchase?
A: Lake County invests $186 million each year on various goods and services, from BIG purchases (Lake County roads) to small purchases (paint brushes).
Q: How do I get registered to do business with Lake County?
Q: Why should I register as a vendor with Lake County?
A: The Purchasing Division uses the vendor registration list to notify vendors when an IFB, RFP, or RFQ is issued.
Q: How does the County handle purchases under $30,000?
A: Departments utilize the vendor registration lists to obtain three written quotes for purchases of goods and commodities under the bid threshold of $30,000.
Q: Where can I find current bid opportunities?
Q: When can I expect payment from the County?
A: Lake County will make payment within 30 days from the day the invoice was received.
Q: How much does the parking garage at the County Administration Building cost?
A. The fee for the parking garage is as follows:
First 2 hours -free
Up to 3 hours- $3
Up to 4 hours- $4
Up to 5 hours- $5
Up to 6 hours- $7
Up to 7 hours - $9
Over 7 hours - $11
**Lost ticket pays the maximum daily rate
The parking fee must be paid in cash before exiting the building at the kiosk located outside the main lobby. Remember to take your parking ticket with you when you enter the building to pay as you exit.
Q: How does my firm get hired for County construction work?
A: Please visit our Doing Business page at doingbusiness.lakecountyil.gov. The County bids out various jobs throughout the year. If you would like to be contacted about opportunities, we encourage your business to register with the County to be alerted as opportunities arise.
Q: What do the various construction projects cost?
A: Please visit our Construction webpage to view construction costs for some of our recent projects. Additional information on the costs of various projects the County has completed can be found in the current and past budget documents located in the Corporate Capital Improvement Sections.
Q: How can my product get incorporated into the project design?
A: Lake County hires design professionals to specify and determine the appropriate products for a given project or application. Discussions regarding product specifications should originate via these channels. Please visit our Doing Business Page for opportunities to work with the County.
Q: What is the JOC Program?
A: The JOC program or Job Order Contracting is a method to procure select construction and renovation projects involving demolitions, electrical work, HVAC, carpentry, concrete, painting, plumbing and other trade work. This form of construction contract expedites the ordering of construction services while controlling cost plus increasing quality and transparency. The County has Job Order Contracts in place with K.R. Miller Contractors, Inc. and Joseph J. Henderson Son, Inc.
Q: Who permits Lake County Construction Projects?
A: The local authority having jurisdiction is always the primary enforcer of codes, regulations, and ordinances related to a project. In addition to this, other governmental or quasi-governmental organizations may have approval authorities as warranted by the specific project.
Q: Does the print shop do jobs for the public?
A: The print shop only does jobs for County departments.