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Audit: Arlington Heights SD 25 posts strong reserves; $20 million in pension liabilities appear only on annual statements
Summary
External auditors from Baker Tilly told the board the district's 2023–24 financial statements show solid reserves, a one‑year $30.6 million draw on capital funds tied to construction, and about $20 million in net pension liabilities that are disclosed annually. The single audit of federal funds produced no findings.
Jason Coyle, principal at audit firm Baker Tilly, presented the Arlington Heights School District 25 annual comprehensive financial report for the fiscal year ended June 30, 2024, and answered board questions at the Jan. 14 board meeting.
Coyle said the district issues an annual comprehensive financial report (ACFAR) that goes beyond basic audit requirements and provides trend data and other historical information. "About 71% of your funding is from property taxes," he told the board, and "almost 80% of your funding is going…
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