Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Shorewood accepts 2024 audit showing clean opinion; finance director to submit for awards
Summary
The City Council accepted the 2024 Annual Comprehensive Financial Report after auditor Abdo, LLC issued a clean/unmodified opinion and reported no legal compliance findings; Finance Director Schmuck will submit the report for state and GFOA awards.
The Shorewood City Council voted on May 27, 2025, to accept the 2024 Annual Comprehensive Financial Report following a presentation by external auditor Justin Nilson of Abdo, LLC, who reported a clean (unmodified) opinion and no legal compliance findings.
Nilson summarized General Fund and enterprise fund results, cash and investment balances, and key performance indicators and told the Council he did not identify financial red flags. In response to a council question, he said a clean audit is a positive sign and recommended continuing to work on a capital improvement plan to manage enterprise-fund debt service.
Finance Director Schmuck said she will submit the approved 2024 report to the State and the Government Finance Officers Association for the Certificate of Achievement and Financial Excellence; Shorewood has received that award for 28 consecutive years. The Council’s motion to accept the report passed with no objections recorded in the minutes.
