To provide municipal, financial services of the highest quality to the Residents and Businesses of the City of Lockport, the City Council, and the City Staff, in an efficient and progressive manner, while safeguarding City assets and upholding Public Trust.
The Finance Department is responsible for the preparation of the City’s Annual Budget, Comprehensive Annual Financial Report, TIF Report, and Tax Levy; the collection, disbursement, and investment of all City funds; financial administration, accounts payable & receivable, payroll, utility billing and accounting. The department also provides financial reports and analyses to assist the City Council, the City Administrator, and operating departments in their decision making.
Awards and Ratings
The City of Lockport has received the Excellence in Financial Reporting Award from the Government Finance Officers Association for Fiscal Years 2010-2016. This is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
Standard & Poor’s Rating Services confirmed in 2017 its long-term rating on debt issued by the City of Lockport, Illinois of ‘AA+. The outlook is stable. The report from S&P praised the City’s management as “strong with good financial practices”.