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Auditors give Elgin n unmodified opinion; finance report shows 9-month general fund reserve
Summary
Sikich LLC issued an unmodified opinion on Elgin—ity—ouncil—inancial statements for 2024 and reported strong reserves and improving pension funded ratios; auditors noted one nonmaterial adjustment and no material weaknesses.
Jim Sabio, principal at Sikich LLC, told the Elgin City Council on June 25 that the firm issued an unmodified opinion on the city—onsolidated financial statements for the year ended 2024. "We issued an unmodified opinion," Sabio said during a 40-minute presentation that summarized the 200-plus page annual comprehensive financial report.
Sabio said the audit included a single-audit requirement because the city expended more than $750,000 in federal funds and that Sikich issued no findings of material weaknesses or instances of noncompliance. "We had no material weaknesses or significant deficiencies noted," he said, describing the report on internal control and on compliance.
The audit highlights presented to the council said the…
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