{"id":1924,"date":"2023-08-11T07:33:00","date_gmt":"2023-08-11T07:33:00","guid":{"rendered":"http:\/\/174.141.233.253\/~villageofschaumb\/?page_id=1924"},"modified":"2023-08-11T08:19:23","modified_gmt":"2023-08-11T08:19:23","slug":"finance","status":"publish","type":"page","link":"http:\/\/174.141.233.253\/~villageofschaumb\/finance\/","title":{"rendered":"Finance"},"content":{"rendered":"<div class=\"row\">\n<div class=\"col-12 col-md-7 col-lg-8\">\n<div class=\"row mb-4\">\n<div class=\"col-12 col-md-12 col-lg-12\">\n<h2 class=\"title-one\">Finance<\/h2>\n<p>The Village of Schaumburg strives to provide up to date and detailed financial information. This can be difficult given the complex nature of village operations and accounting requirements. If you are interested in a specific aspect of your local government and its finances the best thing to do is contact us directly. However, we also are interested in providing you an overview of the village&#8217;s finances here to help you understand the fiscal condition of the village.<\/p>\n<h2 class=\"title-one\">Annual Financial Statements<\/h2>\n<p>An audited Comprehensive Annual Financial Report (AFR) is issued each fiscal year. The village&#8217;s fiscal year runs May 1 through April 30. Typically the AFR is published in September following the close of the fiscal year. Residents who have questions pertaining to the AFR can contact the Director of Finance at 847-923-4530 or by <a href=\"mailto:lhapp@schaumburg.com\" rel=\"noopener\" target=\"_blank\">email<\/a>.<\/p>\n<p>The village&#8217;s hotel and convention center funds are operated on a calendar-year basis. The audited financial statements of the hotel and convention center funds can be found in the AFR issued the following year.<\/p>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/2020-04-30-Village-of-Scha.pdf\" rel=\"noopener\" target=\"_blank\">2019-20<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/202021-CAFR-Villages-FY-21.pdf\" rel=\"noopener\" target=\"_blank\">2020-21<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/Village-of-Schaumburg-AUD-.pdf\" rel=\"noopener\" target=\"_blank\">2021-22<\/a><\/li>\n<\/ul>\n<h2 class=\"title-one\">TIF Annual Reports<\/h2>\n<p>The Village of Schaumburg has created two tax increment financing districts to fund redevelopment efforts. The Olde Schaumburg Centre Tax Increment Financing District was created in 1989, and is in the general area of Schaumburg and Roselle Roads. The STAR Line \/T.O.D. Tax Increment Financing District was created in 2009, and is located North of Interstate 90 and East of Meacham Road.<\/p>\n<p>The village is required to file an Annual Tax Increment Finance Report with the State Comptroller. The report summarizes the redevelopment efforts put forth during the year, and provides important financial information. TIF reports are due out each year by October 31st.<\/p>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-20-North-Schaumburg-TIF.pdf\" rel=\"noopener\" target=\"_blank\">North Schaumburg TIF 2020<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-21-North-Schaumburg-TIF.pdf\" rel=\"noopener\" target=\"_blank\">North Schaumburg TIF 2021<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY2022Schaumburg_North-Sch.pdf\" rel=\"noopener\" target=\"_blank\">North Schaumburg TIF 2022<\/a><\/li>\n<\/ul>\n<h2 class=\"title-one\">Olde Schaumburg TIF Annual Reports<\/h2>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-20-Olde-Schaumburg-TIF-.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/20 &#8211; Report<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-21-Olde-Schaumburg-Sign.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/21 &#8211; Report<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY2022Schaumburg_OldeSchau.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/22 &#8211; Report<\/a><\/li>\n<\/ul>\n<h2 class=\"title-one\">STAR Line\/T.O.D. TIF Annual Reports<\/h2>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-20-Starline-TIF-Signed-.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/20 &#8211; Report<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY-21-Starline-TIF-Report-.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/21 &#8211; Report<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY2022Schaumburg_Starline_.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/22 &#8211; Report<\/a><\/li>\n<\/ul>\n<h2 class=\"title-one\">Experior TIF Annual Reports<\/h2>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY21-Experior-TIF-District-2.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/20 &#8211; Report<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/FY2022Schaumburg_Experior_-1.pdf\" rel=\"noopener\" target=\"_blank\">4\/30\/21 &#8211; Report<\/a><\/li>\n<\/ul>\n<h2 class=\"title-one\">Treasurer&#8217;s Reports<\/h2>\n<p>The Treasurer&#8217;s Report is required by law to be published once a year in a newspaper of local circulation. The report summarizes financial condition and revenues, and lists expenditures made by the village for services, commodities, wages, equipment, and supplies during the fiscal year. It is a snap shot in time and caution should be used when trying to compare year to year. Often expenditures do not fall neatly and evenly into fiscal years. Often times retirement payouts required by law of accumulated vacation or sick time inflate gross wage numbers. A more sophisticated and informed review of the detail the report is based on is required to make meaningful comparisons. If you have questions we will be happy to answer them. You can contact us via <a href=\"mailto:lhapp@schaumburg.com\" rel=\"noopener\" target=\"_blank\">email<\/a> or call the Director of Finance at 847-923-4530.<\/p>\n<ul class=\"mb-3 list-green\">\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/Treasurers-Report-Signed-4.pdf\" rel=\"noopener\" target=\"_blank\">2019-2020<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/Treasurers-Report-202021.pdf\" rel=\"noopener\" target=\"_blank\">2020-2021<\/a><\/li>\n<li><a href=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/08\/Treasurers-Report-43022.pdf\" rel=\"noopener\" target=\"_blank\">2021-2022<\/a><\/li>\n<\/ul>\n<div id=\"faq\" class=\"accordion mb-3\">\n<div class=\"card\">\n<div id=\"faqhead1\" class=\"card-header\"><\/div>\n<div id=\"faq1\" class=\"collapse show\" aria-labelledby=\"faqhead1\" data-parent=\"#faq\">\n<div class=\"card-body\">\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"col-12 col-md-5 col-lg-4\">\n<div class=\"bg-light mb-4\">\n<h5 class=\"text-center text-white p-2 mb-0\" style=\"background: #003865; font-size: 18px;\">CONTACT<\/h5>\n<p><\/p>\n<div class=\"p-3\">\n<address class=\"manager-location\"><img decoding=\"async\" class=\"icon-Icon-material-location-on\" src=\"http:\/\/174.141.233.253\/~villageofschaumb\/wp-content\/uploads\/2023\/07\/Group-124.png\" \/><strong class=\"d-block\">Finance<\/strong>101 Schaumburg Court<br \/>\nSchaumburg, IL 60193-1899<br \/>\n847-923-4530<\/address>\n<address class=\"manager-location mb-0\"><\/div>\n<\/address>\n<p><strong>Lisa Petersen<\/strong><br \/>\nDirector <a class=\"d-block\" href=\"mailto:lpetersen@schaumburg.com\">Email<\/a><\/p>\n<\/address>\n<p><strong>Non-Emergency dial 311<\/strong><br \/>\nwithin Schaumburg borders or dial 847-895-4500 to reach a 311 representative 24 hours a day, 7 days a week.<\/p>\n<p><a class=\"d-block\" href=\"http:\/\/174.141.233.253\/~villageofschaumb\/our-village\/contact-us\/village-hours-facilities\/\">Business Hours &#038; Holiday Schedule<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Finance The Village of Schaumburg strives to provide up to date and detailed financial information. This can be difficult given the complex nature of village operations and accounting requirements. If you are interested in a specific aspect of your local government and its finances the best thing to do is contact us directly. However, we&hellip; <a class=\"more-link\" href=\"http:\/\/174.141.233.253\/~villageofschaumb\/finance\/\">Continue reading <span class=\"screen-reader-text\">Finance<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":57,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"government_sidebar.php","meta":{"footnotes":""},"class_list":["post-1924","page","type-page","status-publish","has-post-thumbnail","hentry","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finance - Schaumburg, IL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/174.141.233.253\/~villageofschaumb\/finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance - Schaumburg, IL\" \/>\n<meta property=\"og:description\" content=\"Finance The Village of Schaumburg strives to provide up to date and detailed financial information. 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