Finance

The Finance Department is responsible for overseeing the fiscal operations of the City, ensuring accuracy, transparency, and efficiency in all financial matters. Key responsibilities include recording and reporting financial transactions, billing and collecting revenues, processing payments to employees and vendors, and managing the City’s funds. The department also plays a vital role in developing the annual operating budget, preparing the annual financial report, and conducting financial forecasting.
Additionally, Finance Department personnel administer the City’s medical benefits plan, the Police Pension plan, and the risk management program. We strive to maintain financial stability and provide outstanding service to our community.

Cash Receipts and Revenue Collection

The City of Northlake receives operating funds from several sources, including sales tax, water and sewer billing, property tax, utility tax, motor fuel tax, fines, licenses, and other fees. These funds are essential for supporting key services such as police, public works, water and sewer services, and administrative functions.

City’s Budget

Each year, the City of Northlake is legally required to prepare an annual budget that outlines its expected sources of revenue and planned expenditures. The budgeting process typically starts in September and concludes in December with the City Council’s approval. The City of Northlake uses a "Zero-Based Budget" approach, which involves input from all departments.

2025 CITY OF NORTHLAKE BUDGET

Tax Levy

Each year, the City of Northlake is legally required to prepare an annual tax levy, which outlines the property taxes to be collected for the upcoming year.

2024 Tax Levy
(Payable in 2025)

Payables and Accounts Receivable

The Finance Department is responsible for managing all payments and incoming revenue for the City of Northlake. This includes ensuring the timely and accurate payment of invoices, properly charging expenditures to the correct accounts, and maintaining compliance with the City of Northlake's approved budget.

All large expenditures exceeding $1,000 are submitted to the Finance Committee and the City Council for approval. In addition, the department oversees the collection of money owed to the City of Northlake, ensuring that all receivables are processed efficiently and on time.

2024 Treasurer's Report

Annual Financial Report

The City of Northlake manages its financial activities using Fund Accounting. It currently oversees eight (8) funds, each tracked as an independent entity and consolidated into a single financial overview. These funds include the General Fund, Utility Tax Fund, Motor Fuel Tax Fund, Wolf Ridge Condo Fund, Creekside Fund, 21st Century Fund, Water and Sewer Fund, and CDBG Fund.

The City of Northlake employs an independent auditing firm to review, reconcile, and certify the financial results for the City of Northlake to ensure complete compliance with all federal, state, and local accounting standards, regulations, and laws. 

2024 FINANCIAL AUDIT

Personnel, Payroll, and Employee Benefits

The City of Northlake periodically advertises open positions across its various departments. The Finance Department ensures that all job postings comply with applicable requirements and that every applicant is evaluated fairly, without regard to race, color, religion, age, marital status, or other protected characteristics.

The City of Northlake is currently a party to the following labor agreements:

• Police Collective Bargaining Agreement
• Section 11.3 – Disciplinary Matters
• SEIU Labor Contract (2020–2024)

Public Act 97-0609

Public Act 97-0609 became effective January 1, 2012. This act amends the Illinois Open Meetings Act and the Illinois Pension Code and established new requirements for Illinois public bodies.

Among the law's requirements are the following:

1)     All IMRF employers must post, within 6 days of the approval of a budget, the total compensation package for each employee having a total compensation package that exceeds $75,000 per year; and

2)     Any IMRF employer that approves an employee's total compensation package equal to or in excess of $150,000 per year must post on its website, at least 6 days before approval, the total compensation package for that employee.

3)     “Total compensation package" for purposes of the Act means "payment by the employer to the employee for salary, health insurance, a housing allowance, a vehicle allowance, a clothing allowance, bonuses, loans, vacation days granted, sick days granted."

The City of Northlake has elected to provide employee compensation for all of its employees regardless of salary level.

FOIA Form