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Audit shows strong fund balances; Baker Tilly flags segregation-of-duty and close-process weaknesses
Summary
Baker Tilly presented the Village of Mount Pleasant's 2024 audited financial statements, reporting a clean opinion, higher-than-budgeted revenues in several funds and noted internal-control material weaknesses in segregation of duties and the financial statement close process.
Baker Tilly presented the Village of Mount Pleasant's audited financial statements for 2024 at the July 28 board meeting and issued an unmodified (clean) opinion while noting an emphasis of matter related to newly effective Governmental Accounting Standards Board standards.
Principal Wendy Unger told trustees the village's general fund recorded $27 million in actual revenue versus $25 million budgeted, producing roughly $2.3 million more revenue than expected. Key revenue contributors included unusually high investment income (about $371,000 over budget), $200,000 in additional building-permit revenue, $430,000 over budget in fire inspection and sprinkler fees, and around $650,000 more ambulance revenue than projected. Total…
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