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Forest Park auditor issues clean opinion but flags liquidity and pension shortfalls
Summary
Auditors gave an unmodified opinion for fiscal 2025 but noted a roughly $1.3 million drop in the general fund and a large unrestricted net position deficit tied to pension liabilities; council members pressed for revenue options ahead of the budget season.
Joe Louden, a principal at auditor Lauterbach & Eamon, told the Village Council of Forest Park that the firm’s audit for fiscal year 2025 resulted in an unmodified opinion: “which is unmodified, and this is the cleanest and highest form of assurance that we can provide to the village.” Louden summarized required communications and highlighted three documents the village received: a SAS 114 letter (no disagreements reported), the Annual Financial Report and a management letter with practice recommendations.
The audit showed a decrease in the general fund balance of about $1.3 million, leaving an ending general fund balance of approximately…
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