Please note:

The Village’s 2025 fiscal year spans an extended 20-month period, from May 1, 2024 through December 31, 2025. This one-time adjustment was made to facilitate the Village’s transition from a traditional fiscal year (May 1–April 30) to a calendar year-based fiscal cycle (January 1–December 31).

This change is designed to, improves transparency, allows the Village to benefit from more competitive bidding environments, and aligns Village payroll reporting cycles with IRS and state reporting cycles. As a result, all financial data associated with the 2025 fiscal year reflects this longer timeframe.

Important clarification: The notation currently displayed on this Data & Insights Financial Transparency portal indicating a fiscal year period of May 1, 2024 through April 30, 2025 is incorrect and does not reflect the Village’s updated fiscal calendar. Please disregard that reference and use the correct 20-month period noted above.

To further clarify the transition:

Transition Year (TY24) budget covered 8 months, from May 1, 2024 to December 31, 2024.
Current Year (CY25) budget covers 12 months, from January 1, 2025 to December 31, 2025.
Upcoming Year (CY26) budget will also cover 12 months, from January 1, 2026 to December 31, 2026.

As a result, all financial data and reporting submitted to the State of Illinois for FY2025 will reflect this extended 20-month period, which includes eight additional months of financial activity compared to a typical fiscal year.

Stakeholders should be aware that this transition may affect year-over-year comparisons and trend analyses, given the atypical length of the FY2025 reporting period.

Looking for more in-depth analysis on the Village's finances; please click the following link which will take you to the Village of Oswego Finance Department Home page. The website has numerous financial reports, Village revenues and expenditures for multiple fiscal years.

Link: https://www.oswegoil.org/government/departments/finance