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City receives clean audit; auditors flag internal-control weaknesses and water-fund concerns
Summary
Auditors from Plante Moran issued an unmodified opinion on Lincoln Park's financial statements and single audit but reported material weaknesses including journal entries, segregation of duties, untimely bank reconciliations and missing ARPA vendor debarment checks; auditors also noted pension grants and ongoing water‑and‑sewer fund challenges.
Plante Moran auditors presented the City of Lincoln Park’s financial statements and single audit and issued an unmodified (clean) opinion, while noting several material weaknesses in internal controls and compliance.
The auditors told the council they issued “an unmodified opinion,” meaning the financial statements “can be relied upon.” James Hapla of Plante Moran said the city’s general fund “did add $334,000 to fund balance this year,” moving general‑fund reserves from about $7.9 million to roughly $8.2 million. The auditors also reported an operating gain of about $1.2 million in the Water and Sewer Fund but said the fund still shows a negative unrestricted net position.
Why it matters: a clean audit opinion affirms the accuracy of the city’s reported results, but material weaknesses signal deficiencies the city must address to reduce risk of error or noncompliance. The auditors…
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