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Village accepts clean audit for fiscal 2023; auditor reports no internal-control findings
Summary
Auditor Lauterbach & Amen LLP presented an unmodified (clean) opinion on Mundelein's April 30, 2023 financial statements; the Village Finance Department received praise and the board formally accepted the audited financial report.
The Mundelein Village Board accepted the village’s April 30, 2023 audited financial statements on Jan. 27 after a presentation by the audit partner from Lauterbach & Amen LLP.
Jamie Wilkie, audit partner with Lauterbach & Amen LLP, told the board the firm issued an unmodified (clean) opinion on the village’s financial statements and reported no exceptions from internal-control testing. Wilkie highlighted the management’s discussion and analysis section as a concise executive summary and pointed to the statistical section at the back of the report for historical data including ten-year trends, long-term debt history and full-time employee counts.
Wilkie said the village experienced a positive operating year, with equity increasing because of strong revenues, continued capital investment and retirement of long-term bonded debt. The auditor also reported that required compliance testing for the village’s tax increment financing (TIF) districts produced clean opinions. The firm’s management letter contained status updates to prior comments and no new significant recommendations.
Trustee Schwenk moved to accept the fiscal 2023 audited financial report as presented; the motion passed by roll call.
Ending: The board recorded acceptance of the audit and staff indicated the audit documents and supplementary reports are available in the meeting packet and on the village website.
