The Village’s budgetary operations are governed by the Budget Officer Law as provided for in the Illinois Compiled Statues and administered by the Village Manager.
Each year, the Village of Winfield prepares two budgets:
- An annual budget that covers the upcoming fiscal year, which runs May 1 through April 30
- A capital projects budget which covers a five-year period and includes the Village’s proposed capital expenditures
Under the law, an annual budget must be adopted prior to the start of the new fiscal year.
GFOA Distinguished Budget Presentation Award
Winfield has received the industry’s top honor from the Government Finance Officers Association for 24 consecutive years. This distinction is earned by less than 10% of Illinois municipalities.
All departments of the Village are required to submit their budget requests to the Village Manager in December. This is the starting point for developing the proposed budget. The Village Manager and Finance Director then meet with the Department Heads and review each requested budget, where cuts or additions are made as needed.
The proposed budget is then compiled into a document and reviewed at length by the Finance and Administration Committee over several special budget meetings. The Village then conducts several Budget Workshops with the Village Board, where additional changes are made.
A finished document is then presented to the Village Board in April of each year. A public hearing is held and the final document is approved by the Village Board.
Throughout the year the Village Manager and Finance Director prepare budget amendments as needed for the Village Board’s approval to more accurately reflect the actual expenditures of the Village.