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Itasca receives clean audit for FY2024; police pension funded at roughly 43.5%
Summary
Sikich delivered an unmodified (clean) audit opinion for the Village of Itasca’s fiscal year ending 04/30/2024, noting strong operating fund results and an improving police pension funded ratio of 43.5%, while recommending attention to one carryover internal-control item on sales-tax card payments.
The Village of Itasca received an unmodified (clean) audit opinion for fiscal year 2024, the auditor told the Village Board on Nov. 5.
"We're pleased to present an unmodified or clean audit opinion," said Brian Lefever of Sikich as he presented the annual financial report for the year ending April 30, 2024.
The audit accompanying materials show the General Fund recorded roughly $16.8 million in revenues and $12.3 million in expenditures; after transfers for capital, the General Fund increased its fund balance by about $1,539,000. The water and sewer fund reported…
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