How Much Debt Does Algonquin, LITH Have?
A Daily Herald analysis reveals how much municipal debt communities throughout the suburbs owe.
The village of Algonquin owes $21,489,495 in total debt, which amounts to $715 per resident, and the village of Lake in the Hills owes $8,776,383 in total debt, which amounts to $303 per resident, according to a Daily Herald graphic detailing the amount owed in each community. Comparably speaking, the Daily Herald found Rosemont had the most debt — a total of $505,659,000, which amounts to $120,338 per resident.
More financial information on Algonquin and Lake in the Hills can be found in each village's 2011 Comprehensive Annual report. The village of Algonquin and the village of Lake in the Hills posts the annual reports on their websites.
Both villages have been recognized regularly over the past decade by the Government Finance Officers Association of the United States and Canada for their excellence in budgeting and financial reporting.
In 2012, Lake in the Hills received a distinguished budget presentation award from the GFOA—the 13th consecutive year that the village won this award, according to the village of LITH website.
Also this past year, Algonquin received the certificate of achievement for excellence in financial reporting for its comprehensive annual financial report—the eighth consecutive year Algonquin received this honor, according to the village of Algonquin website.