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DeKalb receives clean draft audit; final opinion pending IMRF report
Summary
City auditors Sikich presented a draft FY2024 Annual Comprehensive Financial Report and single-audit results, reporting unmodified (“clean”) opinions on the financial statements and major federal programs; the final auditor opinion will be issued after the Illinois Municipal Retirement Fund completes its annual report.
DeKalb — Auditors from Sikich presented a draft of the City of DeKalb’s FY2024 Annual Comprehensive Financial Report and single-audit findings on June 9, telling the City Council the financial statements will receive an unmodified (clean) opinion once the Illinois Municipal Retirement Fund (IMRF) final report is available.
Brian Lefavor, principal with Sikich, told council members the audit procedures and testing are complete and that the lone outstanding item is IMRF’s annual report; Sikich expects that report within days and does not anticipate changes to the draft opinion.
The auditors reported an unmodified opinion on the city’s financial statements and clean results on the single-audit compliance testing for federal awards. Sikich identified two federal “major programs” for FY2024 testing: roughly $3 million in COVID-related transportation grants and about $1 million in the SAFER grant for fire staffing. The firm reported no findings or questioned costs on those major programs and no material weaknesses in internal control over financial reporting.
Council approved Resolution 2025-063 to receive and file the ACFR, single-audit report and related reports. The measure passed on a voice/roll-call vote.
Other highlights included that the city’s general fund balance increased year over year and that pension-related required supplementary information showed improved funded status in FY2024 compared with FY2023, aided by favorable market returns. Sikich thanked city finance staff for their cooperation; City Manager and council members commended the finance team and singled out Susan Homan in the meeting.
What the council voted on: The council approved a resolution to receive and file the draft FY2024 ACFR and related reports; the auditors will issue their final opinion after IMRF provides its finalized report.
