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Vernon Hills posts $12.8 million net position increase in FY25; auditors issue clean opinion
Summary
Village finance staff reported stronger-than-budgeted revenue and a $12.8 million increase in net position for the year ending April 30, 2025. Independent auditors issued an unmodified opinion and reported no material weaknesses.
Vernon Hills — The village’s finance director told trustees on Oct. 21 that government-wide net position grew by $12.8 million during the fiscal year that ended April 30, 2025, and that revenues outperformed budget while expenditures remained below budget.
Finance director Tom Lyons told the board that net position finished the year at about $110.1 million and that capital assets accounted for roughly $75 million of that total. “Net position does not equal cash,” Lyons cautioned in his presentation.
Why it matters: The village’s fiscal health affects bond ratings, capital projects and service levels. Village staff said the stronger results supported transfers to capital and vehicle-replacement…
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