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Glencoe auditors give clean opinion on 2024 annual financial report; village to place audit on board agenda
Summary
External auditors issued an unmodified (clean) opinion on Glencoe’s 2024 Annual Comprehensive Financial Report, highlighted $3.6 million in new capital additions and ongoing work to meet June 30 filing deadlines. Village staff and auditors discussed internal controls, GASB changes and the report’s condensed management discussion and analysis.
Glencoe officials and external auditors presented the village’s 2024 Annual Comprehensive Financial Report and said the audit received an unmodified, or "clean," opinion and will be on the Village Board agenda for acceptance.
Jayden Wilke, audit partner at Waterbock and Ehman, told the Finance Committee the auditors "have issued what we call an unmodified or clean opinion," and that the opinion means the financial statements "as presented are materially correct." He said the audit process began with planning meetings in January, included preliminary and final field work, and took many weeks of staff effort to assemble documentation.
The management discussion and analysis (MD&A) condensed the 167-page audit into key points for nonfinancial readers, Wilke said. Among the highlights: the village added about…
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