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Kankakee audit shows stronger fund balances; city reviews February financial report
Summary
Auditors from Abraham Eshelman and Garrett presented the fiscal-year audit ending April 30, 2024, reporting materially correct financial statements and a rising general fund balance. The budget committee reviewed February 2025 monthly reports and approved routine minutes.
Kankakee City’s audit firm presented the city’s audited financial statements for the year ended April 30, 2024, to the Budget Committee and reported the statements were materially correct, while city staff reviewed February 2025 monthly financial reports showing revenues generally outperforming expenditures.
The audit presentation by Dale Garrett of Abraham Eshelman and Garrett concluded that “we believe the financial statements are materially correct,” and highlighted capital assets (roads, buildings, infrastructure) as the largest portion of city assets. Auditor Carlos Marin told the committee that net pension liabilities remain the largest liability, accounting for just over…
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