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Auditor issues clean opinion; Round Lake Beach sees $7.5M net position increase
Summary
Sikich issued an unmodified opinion on the Village of Round Lake Beachs FY2025 financial statements. The audit shows a $7.5 million increase in net position, general fund unassigned balance at 93% of budgeted revenues, IMRF 97.5% funded and police pension about 71% funded.
The Village of Round Lake Beachs auditors provided a clean audit opinion for fiscal year ending April 30, 2025, and the board formally acknowledged receipt of the villages Annual Comprehensive Financial Report (ACFR) and auditor communications on Nov. 17.
Tom Sawicki of Sikich LLP told the board the firm issued an unmodified (clean) opinion on the villages financial statements and highlighted several financial metrics: a village-wide net position increase of about $7.5 million, general fund unassigned fund balance equal to 93% of budgeted revenues (the village policy minimum is 65%), the Illinois Municipal Retirement Fund (IMRF) at roughly 97.5% funding and the police pension at about 71% funded.
Sawicki also noted that three prior comments in the auditors communication were marked as implemented during the fiscal year and that management provided responses to an additional comment. He encouraged trustees to read the managements discussion and analysis section of the ACFR for further detail.
After the presentation the board moved to acknowledge receipt of the ACFR and auditor communications; Trustee Stout moved, Trustee Hilleschein seconded and a roll call vote recorded unanimous ayes.
The acknowledgement is procedural: it records receipt of the report and the auditors communications; any substantive follow-up would be handled through staff and future Committee of the Whole review if trustees request additional analysis.
