The City of Highland Park is committed to providing its residents and other interested parties timely and accurate financial information. The Finance Department maintains this central portal for access to financial documents and miscellaneous financial information that may be of interest to the community. For additional information, please email the Finance Department.

Sincerely,
Elizabeth Holleb, Finance Director

Annual Budget

The Mayor and City Council adopt an annual budget in December of each year for the City’s calendar fiscal year. The budget may be amended throughout the year by City Council Ordinance to address unanticipated revenues and expenditures. The annual budget document is developed based upon a Statement of Financial Policies and incorporates both organizational and departmental goals for the coming year. As part of the annual budget development, a five-year capital improvement program is updated to ensure long-term financial planning for major capital outlays. The City’s budget document has been awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States and Canada.

• 2010 Annual Budget
• Total City Revenues and Expenditures – 2010 Budget

Comprehensive Annual Financial Report

The City publishes a Comprehensive Annual Financial Report (CAFR) annually to report the results of operations for each City fund. The City’s financial statements are audited by an independent accounting firm and have received an unqualified opinion with respect to the accuracy and fairness of the presentation of the City's financial position and its conformance with generally accepted accounting principles. The CAFR is published annually on or about June 30, six months after the close of the fiscal year.

• 2008 Comprehensive Annual Financial Report

Those interested in a summary of the detailed financial information contained in the CAFR are encouraged to review the following:

• Letter of Transmittal – 2008 CAFR
• Management Discussion and Analysis of 2008 CAFR
• June 22, 2009 PowerPoint Presentation Summarizing the 2008 CAFR
• Schedule of Detailed Expenditures – Budget to Actual – General Fund

Monthly Financial Report

The Finance Department prepares a monthly financial report summarizing cash and investments, as well as year to date revenues and expenditures compared to budget.

Annual Fee Resolution

As part of the annual budget process, the City Council approves an Annual Fee Resolution setting fees for the budget period. The Fee Resolution may be amended throughout the year by City Council Resolution. The link below is provided to access the current Fee Resolution, as amended.

• Annual Fee Resolution amended through December 23, 2009

Bond Rating

The City has received a "Aaa" bond rating from Moody’s Investors Service, a national credit rating agency. This rating is the highest rating available to a municipality and affirms the City’s strong financial management, while also providing the City with lower interest costs on debt.

Warrant List Archives

City Code Section 35.015 provides that the payment of City bills will be approved and/or ratified by the City Council via approval of a warrant list prepared by the Finance Department. The warrant list is included on each City Council agenda and is available by downloading the City Council meeting agenda packet. The link below is provided to allow interested parties to view the warrant lists presented for approval at the Council meetings for the past six months.

• Warrant List Archives

Stimulus Project

City officials are working diligently to pursue funding from the American Recovery and Reinvestment Act, which provides approximately $500 billion for targeted priority infrastructure and social service investments. Access the Economic Stimulus Efforts page to learn more about the City’s efforts.

Miscellaneous Information

The following links provide miscellaneous financial and economic information:

• Property Taxes by Taxing District
• Principal Taxpayers 1999 vs. 2008
• Sales Tax Collections – Last Ten Years
• General Bonded Debt Per Capita
• Direct and Overlapping Debt
• Demographic Statistics – Last Ten Years
• Principal Employers 1999 vs. 2008