Independent auditors issue clean opinion on Lisle CAFR; village submits report for GFOA recognition

Baker Tilly partner Joe Lightcap presented the Village of Lisle’s annual comprehensive financial report and the auditors’ results letter at the Oct. 20 village board meeting and reported an unmodified (clean) opinion on the financial statements.

Lightcap said the opinion is the highest level of assurance and that there were no reportable disagreements with management, no material adjustments, and no other matters warranting disclosure in the auditors’ communication letter. He thanked the village finance staff for their cooperation during the audit.

Key figures Lightcap cited from the CAFR include a governmental activities net position of roughly $101,500,000 and business‑type activities net position of about $32,000,000 (water, sewer, commuter parking and cemetery). On a long‑term basis, governmental net position rose by about $8,200,000 during the year while business‑type activities decreased by about $841,000. On a short‑term, fund‑level basis, the village’s unassigned governmental fund balance ended the year at approximately $32,300,000, or about 60 percent of annual expenditures.

Lightcap noted the CAFR contains management’s discussion and analysis, multi‑year trend information and detailed notes to the financial statements. The village will submit the CAFR to the Government Finance Officers Association for consideration for the certificate of achievement in excellence in financial reporting — a recognition the village has received for 22 consecutive years, with staff seeking the 23rd.

“Once again we’ve issued a clean or unmodified opinion on the village’s financial statements,” Lightcap said. “There are no real issues to report in this letter, which is what you want to see.”

No formal board action was required for the auditors’ presentation; the board thanked the auditors and moved on to agenda items.