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Audit review: $4.1M in utility capital activity and $9M effect linked to TID 8 reallocations
Summary
Baker Tilly and village staff told the committee that 2024 saw significant capital activity: $4.1 million in utility-related asset activity and a $9 million aggregate effect tied to TID 8 allocations as projects completed and costs were reallocated to utilities.
Audit representatives from Baker Tilly joined the Germantown General Government & Finance Committee to answer questions about the village’s 2024 Comprehensive Annual Financial Report. The auditors and staff described large capital activity in 2024 and explained why Tax Increment District (TID) 8 showed a large fund-balance swing.
Baker Tilly said the $4.1 million of capital activity reported in the water and sewer utilities largely reflected projects that were recorded in one location during construction and then allocated to the appropriate entity upon completion. Amanda of Baker…
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