BFPD FY26 GFOA Budget - Flipbook - Page 15
| FINANCIAL POLICY OVERVIEW
Accounting & Budgeting Policies
Below, are the District’s most relevant fiscal policies. For additional information on fiscal
policies, please see the appendix beginning on page 165.
The financial statements of Bartlett Fire Protection District (the “District”) have been prepared in
conformity with Generally Accepted Accounting Principles (GAAP) as applied to local
governments. The Governmental Accounting Standards Board (GASB) is the accepted standardsetting body for establishing governmental accounting and financial reporting principles. The
District ensures, both during the budgeting and auditing process, that the District is in
compliance with all relevant financial policies and GASB Statements annually. The more
significant of the District’s accounting policies are described below:
Appropriations:
The District’s Budget & Appropriations Ordinance is voted on by the Board of Trustees and filed
prior to the end of each fiscal year (70 ILCS 705). This indicates the legal spending limit of the
District for the fiscal year. For the FY26 Budget, this vote occurred on December 17th, 2025.
Annual budgeted expenditures shall be less than the adopted appropriations unless the
Board of Trustees proposes, votes on, and adopts a new budget.
Fund
FY26 Budget
FY26 Appropriations
General Fund
$
6,053,331 $
7,263,997
Ambulance Fund
$
8,086,406 $
9,331,587
Vehicle Fund
$
447,000 $
536,400
Buy Back Fund
$
13,174 $
15,809
Buildings Fund
$
41,000 $
49,200
Pension Fund
$
1,900,000 $
2,175,000
Equipment Fund
$
204,420 $
245,304
Total
$
14,845,331 $
19,617,297
The District’s FY26 Budget complies with its appropriations policy.
Basis of Budgeting:
The District’s governmental fund financial statements are reported monthly using the current
financial resources measurement focus and the modified accrual basis of budgeting. This allows
the District to maintain consistency with its budgeting throughout the year, especially because it
allows for a combination of cash basis and full accrual. However, during the actual budgeting
process, the District utilizes an accrual basis of budgeting. This aligns with the District’s basis
of accounting and promotes greater accountability of the District’s finances.
Basis of Accounting:
The District’s government-wide financial statements and proprietary fund financial statements
(when applicable) are reported using the economic resources measurement focus and the accrual
basis of accounting. Like with the District’s basis of budgeting, this method promotes financial
accountability.
P a g e 15 | BARTLETT FIRE PROTECTION DISTRICT | INTRODUCTION
