The Park District of Franklin Park has participated in the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) since fiscal year ending April 30, 2010 and has been awarded with the Certificate every year since then. The program was established by the GFOA to encourage state and local governments to report financial statements beyond the requirements of generally accepted accounting principles (GAAP) and to prepare comprehensive annual financial reports (CAFR). A CAFR is a set of U.S. government financial statements that illustrates financial data and complies with the accounting requirements set forth by the Governmental Accounting Standards Board (GASB). The CAFR is compiled by the Park District’s Finance Department and audited by Sikich, LLP an external American Institute of Certified Public Accountants certified accounting firm that adheres to GASB requirements.
The Park District understands the importance of utilizing taxpayer dollars to the upmost level of responsibility and this certificate of achievement illustrates the fiscal responsibility to that commitment. The CAFR submitted to GFOA displays the Park District’s full disclosure financial position with utmost transparency conveyed in such reporting. Residents and non-residents have access to view the CAFR, at fpparks.org or in-person, and evaluate the financial sustainability with the information found in the reports.