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Roselle auditors issue draft comprehensive financial report; final signoff contingent on IMRF audit
Summary
Sikich presented the village’s draft 2024 annual comprehensive financial report and unmodified opinion; final auditor signoff is pending receipt of IMRF’s allocation attestation. The draft showed no material weaknesses and an unmodified opinion on the single‑audit for ARPA funds.
Sikich auditors on June 23 presented the Village of Roselle with a draft annual comprehensive financial report for the fiscal year ended Dec. 31, 2024, reporting a clean (unmodified) opinion on the village’s financial statements and an unmodified single‑audit opinion for federal ARPA program expenditures — but final signature is pending an independent IMRF allocation attestation.
Nut graf: The draft report contains the management’s discussion and analysis, audited financial statements, and the single‑audit of federal funds. The auditors said they found no material weaknesses in internal control over financial reporting and no material noncompliance for the items tested; IMRF’s final auditor report is the only outstanding audit evidence delaying finalization.
Sikich partner Brian Lefever told the board the audit “went very smoothly” and reiterated that the village qualifies for the Government Finance Officers Association Certificate of Achievement when a comprehensive report is issued with an unmodified opinion. He explained the delay: IMRF (the Illinois Municipal Retirement Fund) has completed a draft allocation report but not the final auditor attestation Sikich needs to record Roselle’s IMRF asset/liability amounts on the village financial statements. ‘‘We’ve been in regular contact with the executive director of IMRF and fully anticipate that that report will be received this week,’’ Lefever said.
The audit also documented that Roselle expended more than $1.5 million of ARPA funds in 2024; the single‑audit found no findings or questioned costs on that major program. Lefever and Finance Director Tom Dahl said the draft and accompanying management discussion and analysis provide a comprehensive view of the village’s finances and will be posted to the village website once finalized.
The board did not approve a final opinion at the meeting; staff said a motion to finalize the report will be made after IMRF’s auditor provides the required attestation.
