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DeKalb receives clean FY2025 audit; council files ACFR and single-audit reports
Summary
City auditors presented a clean, unmodified opinion on DeKalb’s FY2025 financial statements and single-audit compliance; council received and filed the draft ACFR and related reports and approved Resolution 2026-058. The report highlights a general fund unassigned balance around 63.7% of expenditures and IMRF funded status at 101%.
The DeKalb City Council voted June 22 to receive and file the City’s draft FY2025 Annual Comprehensive Financial Report (ACFR), the single-audit compliance report, tax increment financing reports, and related management letters under Resolution 2026-058.
Anthony Cervini, a principal with Sikich CPA LLC who presented the draft audit, told the council the firm will issue an unmodified (clean) opinion on the city’s financial statements for the fiscal year ended Dec. 31, 2025. Cervini said auditors also intend to issue an unmodified single-audit opinion for federal expenditures above the current $1 million threshold and an unmodified TIF examination report. He noted the city received the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting for the 31st consecutive year.
Key figures discussed in the presentation and supporting materials included an unassigned general-fund balance of about 63.7% of annual expenditures (including transfers); IMRF funded status at approximately 101%; and police and fire pension plans funded at roughly 61.2% and 50.1%, respectively. Cervini said investment returns for police and fire consolidated investments were about 17.79% and 17.6% for fiscal 2025, above actuarial assumptions.
City Manager Nicholas told the council staff will finalize outstanding IMRF data and anticipated final documents later that week. In the course of discussion, staff also highlighted capital projects completed in 2025 (including Fire Station 4) and capital investments, such as $4.5 million for road maintenance in 2025.
Alderwoman Larson moved the resolution forward and the council approved it by roll call. City staff said they would file the final ACFR once remaining IMRF items were reconciled and would continue to post the report for public review.
The council’s action is procedural (receive and file) and does not require additional legislation; it completes the local acceptance of audit documents for public record and transparency.
