Mount Vernon council accepts 'clean' FY 2024–25 audit showing $5.4 million governmental increase

The Mount Vernon City Council unanimously approved the Fiscal Year 2024–25 audit on Jan. 20 after Finance Director Dan Plumb told council members Roth & Company issued an unqualified opinion with no findings.

"The city has again received an unqualified audit opinion with no findings. It is a 'clean' audit," Plumb said. He told the council governmental activities increased the city's net position by $5.4 million during the year and that total governmental revenues were $41.3 million, with taxes accounting for $34.6 million (67% of taxes came from sales tax). Plumb also said program revenue—charges for services, grants and contributions—totaled about $4 million.

Plumb described expenditures for governmental activities at $31.8 million, with the two largest program expenditures being general government (44%) and public safety (32%). On proprietary funds, he reported the Water Fund net position rose $4.2 million (driven by increased charges for services and debt forgiveness), the Sewer Fund net position decreased by $600,000 (driven by a roughly $800,000 rise in distribution and administration expenses), and the Sanitation Fund showed a minimal increase.

The audit shows combined governmental funds ended April 30, 2025, with $41.9 million in fund balances, including $18.3 million in unassigned fund balance. Long-term obligations rose 2% after $8.2 million in new debt issuance and $6.1 million in debt payments; outstanding general obligation bonds were reported at $33 million, loans $12 million and leases $0.8 million. Plumb also reported pension funding levels: IMRF 101.36% funded, police pension 59.09% funded and fire pension 55.02% funded; required minimum contributions were stated for police ($1.18M) and fire ($1.5M).

Council Member Joe Gliosci moved to accept the audit; Council Member Jay Tate seconded. The motion passed with a recorded unanimous vote.