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The original item was published from 9/25/2018 12:02:00 PM to 9/27/2018 2:42:44 PM.

News Flash

County News

Posted on: September 25, 2018

[ARCHIVED] Budget Award Indicator of the County’s Sound Fiscal Management

As it has for the past decade, Lake County has received the “Distinguished Budget Presentation Award” from the Government Finance Officers Association (GFOA). Lake County consistently receives this annual award that reflects the County’s commitment to meet the highest principles of governmental budgeting and shows Lake County satisfies nationally recognizes guidelines for effective budget presentation. The award demonstrates that the budget serves as a policy document, financial plan, operations guide and a communications device. 

The Lake County Board has a strong track record of practicing fiscal responsibility. Lake County consistently has a balanced budget, and for 20 years has maintained Triple A credit rating – the highest rating possible. Lake County is one of only two counties in Illinois that have a AAA rating from the rating agencies Moody’s and Standard & Poor’s, an achievement held by only approximately 2% of the nation’s counties. 

Also each year, an independent professional audit of Lake County’s finances is completed. The audit firm of Baker Tilly recently issued a “clean opinion” for the latest audit, which is the highest opinion available.  The recent audit, along with the credit rating and GFOA awards, collectively show Lake County is financially sound.

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