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Independent audit finds DeForest in sound financial shape; general fund rose about $545,000
Summary
Baker Tilly presented the 2025 annual financial audit; auditors issued an unmodified (clean) opinion, reported a roughly $535,000–$545,000 increase in the general fund balance, and highlighted water utility one‑time costs tied to tower painting.
Leah Gaffney, senior manager from Baker Tilly, presented the village’s 2025 financial statements and supporting reports and issued an unmodified (clean) audit opinion. The audit shows the general fund increased by just over $535,000 year‑over‑year, with the majority of the increase classified as unassigned (available) fund balance. Auditors said key drivers of the favorable variance included investment earnings and higher building‑permit revenues.
Gaffney reviewed utility results: the water utility’s operating income dipped in 2025 largely because of a one‑time expense to paint the River Road tower; reserves remain healthy across water, sewer and stormwater utilities, and debt capacity is well below statutory limits. Finance staff said final audit deliverables are complete and staff will present the finalized audit report to the full board in a subsequent meeting.
