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Machesney Park board accepts clean audit, places 2024–25 financial report on file
Summary
The Village of Machesney Park board voted unanimously April 6 to accept its audited annual financial report for fiscal year 2024–25 after auditors issued an unmodified opinion and recommended steps on IT security and reconciliations; the general fund showed a multi‑million dollar increase.
The Village of Machesney Park Board of Trustees voted April 6 to accept the village’s audited annual financial report for fiscal year 2024–25 and place it on file for audit following a presentation by the village’s external auditors.
Joe Len, an audit principal with Lauderbach and Aean, told the board the auditors issued an unmodified opinion on the village’s financial statements — the firm’s strongest form of assurance. “Unmodified,” he said, “is the cleanest and highest form of assurance that we can provide to the village.”
Shannon Hansen, the village’s finance and human resources director, introduced the audited statements, which cover the period May 1, 2024, through April 30, 2025. The reports show the general fund recorded net income of $2,895,784; Len summarized an approximate $3.7 million increase in the general fund and an ending general fund balance of about $25 million.
The auditors reviewed changes across several funds: the Illinois 2511 173 gateway TIF increased by about $268,000; the North Second Street TIF rose by about $562,000; West JRL TIF increased by about $200,000; Build Machesney roads rose by about $514,000; South Willow Creek JRL increased by about $265,000; North Willow Creek JRL decreased by about $71,000; capital projects increased by about $1.4 million; and cumulative non‑major funds increased by about $855,000.
Len also highlighted required communications and the management letter. The auditors reported no disagreements with management under auditing standard SAS 114. They issued current recommendations that include increased IT security awareness and monitoring of emerging risks, review of funds that are over budget, and attention to bank reconciliations. Len noted there was one prior recommendation related to deficit fund balance and management’s updated response for FY25.
The auditors flagged upcoming Governmental Accounting Standards Board (GASB) pronouncements to watch, including GASB 102, 103 and 104, with implementation dates referenced in the audit materials.
Trustee Bailey moved to accept the annual report and place it on file for audit; Trustee Cypes seconded. The board approved the motion by roll call; the motion carried.
The auditors concluded by inviting questions and providing contact information for follow‑up. The report will be placed on file and retained with the village’s audit deliverables.
