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Kankakee audit issues clean opinion; bond financing slashes police and fire pension liabilities
Summary
Auditors presented an unmodified FY2025 opinion and told the Kankakee City Budget Committee that bond financings dramatically reduced net pension liabilities for police and firefighters, while the general fund remained strong at roughly $25.3 million.
Auditor Dale Garrity told the Kankakee City Budget Committee that the city’s fiscal year ended 04/30/2025 received an unmodified ("clean") opinion.
"We’ve issued an unmodified or a clean opinion for the year ended 04/30/2025," Garrity said while walking members through the audit binder and the management discussion and analysis.
Garrity highlighted key figures from the basic financial statements: an increase in government‑wide net position of about $12.3 million and an approximate general fund balance of $25.3 million, with…
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