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City auditors deliver unmodified FY25 opinion; report highlights $80M+ capital investments, lower long‑term debt
Summary
Auditors Lauterbach & Eamon presented the fiscal 2025 audit to the Springfield City Council, issuing an unmodified (clean) opinion and reporting no material internal control findings; the firm highlighted more than $80 million in capital investments and a greater-than-7% reduction in long‑term debt.
SPRINGFIELD, Ill. — Springfield—s auditors presented the city—s fiscal 2025 audit at the Dec. 16 council meeting and issued an unmodified or "clean" opinion, saying they found no material weaknesses or significant deficiencies in internal control.
Neha Rao, the city—s chief accountant, introduced Jamie Wilkie of Lauterbach & Eamon. Wilkie told the council that the firm—s engagement produced a clean audit opinion and that related reports (including smaller entity reports issued as part of the engagement) also earned clean opinions. She noted receipt of the Government Finance Officers Association—s Certificate of Achievement for Excellence in Financial Reporting for the prior year and said the firm anticipates similar recognition for the current year—s ACFR (Annual Comprehensive Financial Report).
Wilkie summarized key financial highlights from the ACFR and related communications. Among the figures she singled out: capital asset investments "just north of $80,000,000" in 2025 and a reduction of more than 7% in long‑term debt during fiscal year 2025. The audit engagement did not include the city—s police and fire pension plan audits (those plans are audited separately); Wilkie noted the firm relies on those separate auditors for pension plan figures.
She also described sections of the ACFR likely to be of interest to the council: management—s discussion and analysis (MD&A), a statistical 10‑year trend section, and required communication letters such as the SAS 114 letter. Wilkie told the council the SAS 114 communication—covering disagreements with management, refused journal entries or the use of outside specialists—contained no adverse items for Springfield this year.
Wilkie closed by offering to take questions and to make herself available to staff for follow‑up on management letters or best‑practice recommendations that accompany the audit.
What happens next: The audit and related communication letters will be posted with the ACFR and used in budget discussions and presentations to bond investors or rating agencies as needed.
