Village receives clean audit; ACFR filed with Baker Tilly report

The Village Board of Ashwaubenon received its 2024 Annual Comprehensive Financial Report on June 24, 2023, and voted to place the report on file after presentation by the village’s contracted auditor, John Reiter of Baker Tilly.

The auditor told the board, “the audit went really well once again this year,” and said Baker Tilly issued an unmodified (clean) opinion on the village’s financial statements prepared according to generally accepted accounting principles.

The report’s highlights, presented by Reiter and Finance Director Greg Wenholz, showed a general fund balance of about $6.02 million, an increase in unassigned funds of roughly $124,000, and revenue surpluses driven in part by stronger-than-budgeted investment income and permit revenue. Reiter said the audit team identified one material entry across general, TIF and utility funds but characterized the village’s financial reporting as high quality and noted few open items during fieldwork.

Reiter pointed the board to sections of the ACFR for further detail, recommending the management discussion and analysis and the transmittal letter for executive context and the statistical section for 10-year trend data. He also flagged GASB guidance implemented for compensated absences and noted the village’s fund-balance policy target of 20 percent of next year’s budgeted expenditures.

Board members thanked staff for preparing materials for the audit. President Mary Kardoskee and trustees moved and seconded a motion to receive and put the ACFR on file; the motion passed by voice vote.

The village will submit the ACFR to the Government Finance Officers Association for the Certificate of Achievement in Financial Reporting.