Accounting

Several Accounting Divisions are responsible for the recording and reporting of all City of Chicago financial transactions.

General Funds:
Performs accounting and financial reporting for Governmental Funds, including the General, Special Revenue, Debt Service, Capital Projects, and Fiduciary funds. These funds encompass most of the municipal services that are not included in separate Enterprise Funds.
Debt Service:
responsible for the timely payment of principal and interest on certain municipal debt obligations and arbitrage rebate calculations.
Cost Control:
Issuance, payment and tracking of all municipal interfund vouchers.
Enterprise Funds:
Account and report on financial operations of O'Hare and Midway Airports and the Chicago Skyway toll bridge.
Special Accounting:
Performs accounting and financial reporting for Federal and external Funds available to the City of Chicago.

The Department of Finance, on behalf of the City, issues the comprehensive annual financial report(CAFR) and stand-alone financial statements for the enterprise funds. Financial statements are audited by independent accountants and receive unqualified audit opinions. The City of Chicago has received the Certificate of Achievement for Excellence in Financial Reporting.