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Auditors give Village of Oswego a clean opinion for stub fiscal year ending Dec. 31, 2024
Summary
Sikich presented the stub-year audit covering 05/01/2024–12/31/2024 and reported a clean, unmodified opinion; auditors issued the independent auditor’s report, a management letter, a TIF compliance report and a single-audit report because of grant activity, and noted a GASB change that required a restatement for compensated absences.
Martha Trotter, lead principal for Sikich, told the Village of Oswego Board of Trustees that her firm issued a clean, unmodified opinion on the village’s financial statements for the stub fiscal year ended Dec. 31, 2024. Trotter said the audit work began with preliminary fieldwork in February, moved to detailed testing in March and the completed audit was issued in July.
Trotter described the set of deliverables submitted to the board: an independent auditor’s report, a management letter prepared under Illinois compiled…
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