St. Charles committee accepts clean FY2025 audit; staff recommends 3.99% levy estimate amid $100M lead-service-line and $450M capital needs

The Government Operations Committee of the City of St. Charles accepted the city’s financial and other reports for the fiscal year ending April 30, 2025, after a presentation by the independent auditor and city finance staff Oct. 6. The auditor issued an unmodified opinion on the basic financial statements and reported no material weaknesses in internal control. Committee members then continued discussion of the upcoming 2025 tax levy; staff recommended a 3.99% levy estimate to be brought back for recommendation Oct. 20 and formal action later in the fall.

Key audit findings and fiscal totals

Jim Savio of Sikich (city auditor) told the committee the independent auditor’s report included an unmodified opinion — “the highest level of assurance” — and that the audit produced an unmodified report on internal control and no instances of noncompliance in his review of state and federal grants for the year. The audit included implementation of new Governmental Accounting Standards Board guidance (notably GASB Statement 101) that produced a modest restatement related to compensated absences; the auditor noted one audit adjustment related to an IDOT grant but no material weaknesses.

Staff presented condensed fiscal-year totals drawn from the annual…