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South Jacksonville gets clean FY2024 audit despite internal control concerns
Summary
Auditors gave the Village of South Jacksonville an unmodified (clean) opinion for fiscal year 2024 but flagged internal control weaknesses on bank-statement reviews, water-bill adjustments and a separately deposited Foreign Fire Insurance check; Treasurer Olson submitted a correction action letter.
The Village of South Jacksonville received an unmodified, or "clean," audit opinion for fiscal year 2024, auditor Kristi Corpin told the Committee of the Whole on Oct. 17.
"The audit resulted in an unmodified or clean audit opinion," Corpin said while reviewing three required audit documents for the trustees. She flagged internal-control issues including a lack of review of bank statements, concerns about review of water-bill adjustments, and an instance in which a Foreign Fire Insurance check was deposited into a newly opened separate account.
Corpin reported the village's assets were down about $2,000 from the prior year while overall net position rose roughly $103,000; she also noted a loss in business-type activities before taxes and recommended those funds be self-sufficient. Treasurer and Clerk Mindy Olson told the board she has worked with auditors and staff on the internal-control findings and has submitted a corrective-action letter to the auditors.
The presentation closed with no formal vote; Corpin's comments and the corrective-action letter were entered into the record for follow-up by village staff.
What happens next: Olson and staff will implement the corrective actions noted in the letter and follow up with auditors to address the review procedures flagged during the audit.
