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Independent auditors give Village of Saint Charles a clean opinion, note pension and OPEB liabilities
Summary
An independent audit delivered an unmodified opinion on the village financial statements but highlighted an unrestricted governmental net position deficit driven by long‑term pension and OPEB liabilities; general and street fund balances remain positive, and water fund carries long‑term debt from a 2023 bond issue.
The village of Saint Charles received an unmodified (clean) independent auditors’ opinion on its financial statements for the year, the auditors reported at the council meeting. The auditor said the village’s financial statements “fairly present financial position” in accordance with governmental accounting standards.
The auditors told the council the village’s total net position increased by about $596,000 this year compared with an increase of about $817,000 the prior year, and that primary property tax revenues rose about 5.5 percent because of higher taxable…
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