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CLA: Bonduel’s 2024 finances in good standing; GASB and overtime rule changes ahead
Summary
Clifton Larsen Allen reported that the Village is in good financial condition for 2024 and is following regulations; auditors told the board upcoming GASB changes for 2025 and a state 'Big Beautiful Bill' may affect overtime rules.
Jon Trautman, principal with Clifton Larsen Allen, presented the Village’s 2024 financial report and told the board that "The Village is in good financial condition and is following regulations." He fielded board questions on financial numbers and on expected accounting changes.
Trautman warned that new GASB requirements for 2025 and effects from what the minutes call the "Big Beautiful Bill" could change accounting or payroll-treatment, with specific impact anticipated around overtime rules. Board members asked clarifying questions; Trautman answered and the presentation concluded with direction for staff to monitor changes and report any material effects for the 2025 audit and budget process.
The presentation was part of the board's consent to proceed with 2026 budget preparations; no formal board action was recorded on the financial report beyond receiving the presentation.
