Brown Deer board accepts 2024 audit, notes rising fund balance and future policy discussion

The Brown Deer Village Board voted to accept the 2024 comprehensive financial report after staff said external auditors issued an unmodified opinion on the village's financial statements.

Derek, a village staff member who summarized the audit, told the board the audit produced "an unmodified opinion, which is the best you can do." He said the general fund showed a roughly $400,000 increase in 2024 and the village's fund balance is now approaching $9,000,000. The audit report included two nonmaterial comments related to accounts receivable processes and certain reconciliations, Derek said.

Why it matters: board members said the stronger fund balance means the village can better withstand TID‑related liabilities and one-time costs, but that officials will need a formal policy to decide how to use excess reserves. "That will just mean in the future we'll have a discussion and probably put together some kind of special policy or procedure of how we would use that fund balance," Derek said.

Board discussion also referenced Tax Increment District 4, which earlier projections showed trending toward an almost $10 million deficit if unaddressed. Staff said recent policy changes have stopped the deficit from growing and expect the TID to move in a more positive direction.

The board accepted the report by a voice vote after a trustee moved and a trustee seconded the motion. The chair said the village would make the auditor's full report available to trustees and that Christina Dahmer of Waterbach & Ehman — who had met with the finance committee — was willing to provide further commentary if any trustee requested it.

Next steps: Staff recommended continuing work to reconcile village-owned assets and to follow up on the two audit comments. No additional formal action was taken beyond acceptance of the report at the meeting.