Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Addison posts clean audit; net position rises 10% as reserves stay well above target
Summary
Village auditors issued an unmodified opinion on the FY2025 annual comprehensive financial report, reporting a 10% increase in net position and sizable fund balances driven by higher investment income and delayed projects.
The Village of Addison received an unmodified (clean) opinion on its fiscal year 2025 annual comprehensive financial report, officials said at the combined committees meeting and the village board meeting on Oct. 6, 2025. Auditors and staff highlighted a 10% increase in the Village's net position and large fund balances that exceed the Village's policy targets.
The audit presentation opened at the committees meeting with financial staff and Sikich LLP partner Nick Ava summarizing results. “An unmodified opinion is a clean opinion and the highest level of assurance that we as auditors can provide,” Ava said, adding the audit found no instances of noncompliance or questioned costs tied to grant spending. Assistant Finance Director Carolyn Iles was singled out by staff and auditors for assistance during the audit.
Why it…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
