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Finance staff briefs Shorewood trustees on unaudited Q4 2024 results; department variances highlighted
Summary
Staff presented the village's unaudited 2024 year-end financials, showing revenue positive results overall but department-level expenditure variances (notably in DPW overtime and planning permit revenues). Staff said adjustments are expected and auditors may make additional changes.
Village staff presented the unaudited fourth-quarter financial report and walked trustees through revenue and expenditure variances for 2024. Staff emphasized the report is unaudited and that auditors could propose adjustments.
Staff summarized that the village was roughly in line with the adopted budget overall: revenues exceeded budget by about $277,000 while expenditures were about $108,000 over budget. Staff noted the year-end fund balance includes a line that will be adjusted (a $170,000 item staff said should net to zero in final accounting).
Trustees and staff discussed…
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