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Audit shows stronger fund balances and clean opinion for 2025, committee hears
Summary
A brief presentation of the Village of Jackson’s 2025 audited financial statements reported a $636,858 increase in the general fund, a roughly $1.5 million drawdown in capital projects tied to completed work, and an unmodified (clean) audit opinion; the committee deferred detailed review to the full board.
The Budget Finance Committee received a short briefing on the Village of Jackson’s 2025 audited financial statements and the auditor’s unmodified opinion. Patty, introduced to the committee for a brief rundown, said the general fund “had a substantial increase in our fund balance, $636,858,” and that the audit resulted in “an unmodified opinion,” commonly described as a clean audit.
Patty said the capital projects fund decreased by about $1.5 million because a number of projects were completed during the year while some remain underway, and that those decreases were anticipated. She also reported the Fire and EMS fund ended the year with an increase of $332,000 and the park fund showed about a 50% increase in its fund balance from the prior year. The committee chose to leave deeper review of the management letter and any follow-up items to the full village board meeting. The brief presentation and figures were recorded during the committee’s July 14 meeting; no formal committee action was taken on the audit at this meeting.
