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Oak Park audit: outside auditors issue unmodified opinion as council reviews major capital funding
Summary
External auditors issued an unmodified opinion on Oak Park’s 2025 financial statements; staff highlighted transfers and grants funding a $10.5M Event Hub and the first $9.7M bond issuance for a $44M community center while noting a budget overage disclosure and a corrected allocation error.
Oak Park’s external auditors delivered an unmodified opinion on the city’s 2025 financial statements as the council heard a layman’s review of the audit and a summary of the city’s finances.
Deputy Finance Director Carl Johnson walked council through year-end numbers, emphasizing the Hub Construction Fund and the new Community Center Construction Fund. "That project…is about 10 and a half million dollars," Carl Johnson said of the Event Hub; he told council about roughly $800,000 in Hub expenditures to date, about $4.5 million set aside and additional grant proceeds helping reach the project budget. Johnson said the city contributed larger-than-planned transfers from the general fund to the Hub — ultimately transferring about $1.3 million during the past fiscal year — and that those transfers produced a budget overage that…
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