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Auditors expect draft by Feb. 28; commission told a late filing will be a finding
Summary
Commission heard an update that auditors are working toward a Feb. 28 draft for the 23/24 audit, the village requested a JLAC extension and staff acknowledged the 23/24 delay will be reported as a finding; commissioners asked for an auditor update at the next meeting.
At the March 3 meeting the commission received a high-level update on the village audits for fiscal years 2022–23/2023–24 and 2024–25.
Mike, the commission’s on-site audit contact, said auditors have been working with staff and expected a draft audit by Feb. 28; staff have requested an extension from JLAC. He warned that the late submission of the 23/24 materials will result in a finding but said the staff has submitted corrective steps and is roughly 50% through remedial work.
Commissioners asked whether auditors could brief the commission at the next meeting; staff said they would invite the audit manager and that draft reports should be available for review. The commission discussed the audit firm rotation rule (auditors are changed every three years) and noted the new company is conducting a fuller review in its first year with the village.
Next steps: staff will ask the audit firm to present a high-level update to the commission at the next meeting and will continue to work with JLAC on any extension.
