Antioch accepts audited financial report, auditor issues unmodified opinion

The Antioch Village Board on Nov. 12 accepted the village nnual comprehensive financial report for the fiscal year ending April 30, 2025, after a presentation from the auditing firm.

Matt Olson, one of the audit leads at Lauterbach & Eamon, told trustees the firm issued an unmodified opinion — the highest level of assurance auditors can provide — and highlighted a Certificate of Achievement for Excellence in Financial Reporting that the village again received. "Im happy to say that we had an unmodified opinion," Olson said during the presentation.

Olson walked the board through the management discussion and analysis, noting the village—ombined net position rose in the fiscal year: governmental activities increased by about $6.2 million and business-type activities by roughly $770,000. He also reported that ARPA funds had been spent and the ARPA fund would be closed.

Trustees asked staff to clarify large line items in the accounts payable listing tied to capital projects and payments for recent construction work: Olson and staff identified payments for the village hall project winding down and a public works building payment of roughly $400,861. Staff also noted a debt-service payment to Bank of New York tied to the treatment plant project.

The board approved Resolution 25-86 to accept the comprehensive financial report by roll call. Finance staff said more detailed explanations and the full packet are available in the audit binder and that they will present further budget and levy detail at the Dec. 10 meeting.

The acceptance of the report closes the formal audit process for the fiscal year and triggers routine follow-up on any management-letter recommendations; Olson highlighted IT security and prior recommendations as items for continuing attention.