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Auditor issues clean opinion; Orland Park accepts 2023 ACFR and staff fixes prior year weaknesses
Summary
Independent auditors Sikich issued an unmodified (clean) opinion on Orland Park's fiscal year ended 12/31/2023 Comprehensive Annual Financial Report; trustees accepted the ACFR after staff addressed prior audit weaknesses and corrected deferred revenue issues in recreation and parks.
The Village of Orland Park accepted the fiscal year 2023 Annual Comprehensive Financial Report (ACFR) on March 17 after auditor Anthony Servini of Sikich told the board the firm issued a clean unmodified opinion on the village’s 12/31/2023 financial statements.
"We've issued a clean unmodified opinion on the 12/31/2023 financial statements," Servini said during his presentation. He told trustees the opinion represents the highest level of assurance auditors can provide and that the audit was performed under generally accepted auditing standards and, where applicable, generally accepted government auditing standards.
Auditors reported one current-year finding classified as a significant deficiency related to adjustments that reversed previously deferred recreation and parks revenues; staff is investigating differences between the recreation registration system and the general ledger and has taken steps to reconcile the amounts. A prior-year material weakness in internal control over financial reporting was not repeated for 2023.
Key figures presented in the report included an unassigned general fund balance of $16.8 million (about 31% of general fund expenditures for 2023), a governmental net position increase of roughly $2.1 million for 2023, and a positive unrestricted net position for business-type activities (water and sewer) of about $21.5 million. Auditors also reported IMRF funded status of 81.58% and an increase in police pension funded status from 67.6% to about 71.6%.
Trustees used the presentation to address several public questions about alleged missing funds; Servini said the audit found no evidence of missing funds and that outside statements about an "$800,000 mistake" mischaracterized a routine budget-amendment discussion. Trustees publicly thanked Sikich and village finance staff for completing the audits and correcting prior internal-control issues in a compressed timeframe.
The board voted to accept the ACFR at the meeting. Staff said the village will submit the completed report package to the state comptroller as the final step in filing the audit.
