Welcome to the world of Finance

The Finance department is charged with these primary responsibilities:

• Maintaining the financial records of the Village.
• Collecting all revenues due the Village.
• Assuring all debts are promptly satisfied.
• Providing for the safeguarding of assets.
• Providing financial information and support to all Village departments.
• Submitting monthly financial status reports to the Village Administrator and Village Board of Trustees.
• Providing estimate information for purposes of compiling budgets.

Department Organization

In an effort to achieve the department's purpose, a total of six staff are employed serving in varying capacities, and are as follows:

• The Finance Director/Treasurer directs and supervises the overall activities of the department.
• The Assistant Finance Director is responsible for the supervision of two Accountants and two Accounting Technicians.  In addition, this position provides administrative, accounting and financial reporting support to the Finance Director/Treasurer.   (This position is currently vacant).
• Two Accountants provides professional skills to the financial reporting and maintenance of the Village's financial records.
• Two Accounting Technicians, primarily handle the responsibilities of Accounts Payable and Receivable.

Additionally, the department is instrumental in the compilation of the Village's Annual Budget.  The Budget establishes management's fiscal plan for the year and is the control tool employed and referenced throughout the year by Village staff. The services, programs, revenues and expenses contained in the Budget reflect the methods and use of resources through which staff intends to accomplish the goals and objectives of the President and Board of Trustees.  A summary of the Village's Budget for FY 2012 is shown below:

Village fiscal operations are independently audited every year. An audit is required by local regulation, State law, and debt issuance compliance. The audit process generally begins 60-90 days after the end of the fiscal year, and takes several months to complete. Auditors issue a Comprehensive report of fiscal operations. Local governmental officials may then use this information to supplement other methods of monitoring financial condition, such as for cash flow analysis and forecasting of revenues and expenditures.

The Village was recently notified that its 2010 Comprehensive Annual Financial report qualified for a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA). This Certificate is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

The GFOA is a nonprofit professional association serving approximately 16,500 government finance professionals with offices in Chicago, IL, and Washington, D.C.

Senior Citizen Utility Tax Rebates

The Village is proud to offer a Senior Citizen Utility Tax Rebate Program to its residents. This program rebates qualifying* seniors towards Municipal utility taxes paid each year. The qualifying age is 65 and the maximum rebate amount is $75. Gross household income cannot exceed $40,000. An applicant can be either a homeowner or renter, and must be the same person whom utilities are billed to. Municipal utilities are typically charged on electric, natural gas, and telephone (land line and/or cellular). Rebate applications are accepted and processed beginning January 1 and continue through April 30. Applications can be obtained at the Glendale Heights Center for Senior Citizens, 260 Civic Center Plaza or at Village Hall.

Need to know more? Please call 630.260.6050 for program details or click here to download an application.

*Proof of age, income, residency and payment of utilities is required.