Lake County Budget

2010 Approved Budget

2010 Budget in Brief

What is the Lake County Budget?
  
The county's budget process begins in May, when the Financial and Administrative Committee approves the annual budget policies. Departments assemble their budget requests based on these policies. The Department of Finance and Administrative Services receives budget requests, analyzes them and meets with the departments prior to presenting a recommended budget to County Board Members in a series of joint committee meetings. The budget is approved at the November County Board Meeting for implementation at the county's new fiscal year beginning December 1.

 
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Lake County Financial Statements

(click here to go directly to FY 2008 Comprehensive Annual Financial Report CAFR)
As required by Illinois State Statutes, Lake County has an independent audit completed annually and publishes the statements. This audit is prepared in conformity with generally accepted accounting principles and according to government auditing standards issued by the Comptroller General of the United States. The county presents these statements in a Comprehensive Annual Financial Report that also includes supplementary information as required by the Government Accounting Standards Board. Below is the link to the fiscal year statements available in electronic format.
Information available in the County’s FY 2008 Financial Statements – Comprehensive Annual Financial Report
• Transmittal letter
• List of elected officials
• Independent auditors report
• Discussion and analysis of the financial statements (MD&A)
• Statement of net assets and statement of activities – combined statements
• Assets, liabilities and fund balances of all funds
• Revenue and expense statements of all funds
• Original and amended budgets with actual expenditures all governmental funds
• Cash and investments information
• Capital asset information
• Debt information including all bonds
• Pension and benefit liability information
• Statistical Section contains10 years (or number of years applicable) of:
  • Net assets and changes in net assets
  • Fund balances and changes in fund balances
  • Assessed Valuation of taxable property
  • Debt information
  • Principal property tax payers and employers
  • Number of employees, capital assets and operating indicators by function
  • Property tax levies and collections
  • Demographic and economic statistics

Current and Prior Years Documents