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Maywood Board hears audit urging stronger checks, approves $718,695 liability insurance renewal
Summary
Auditors told trustees to read the management letter to improve checks and balances; trustees then approved a renewal of liability insurance after being told the program had a modest 1.7% increase, with the renewal amount set at $718,695.
The Village of Maywood received its annual audit briefing and approved a liability insurance renewal during the April 9 board meeting.
Jason Coyle, CPA of Baker Tilly, summarized governmental activities, assets and liabilities, pension fund positions and water fund cash flows. Coyle urged trustees to examine the management letter, saying it is important "to…
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