Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit topic
No spam. Unsubscribe anytime.
Auditors issue clean opinion on Lisle CUSD 202 FY2025 statements; report $2.85M net position gain
Summary
Lauterbach & Amen issued an unqualified opinion on Lisle CUSD 202’s FY2025 financial statements, the AFR shows a $2.85 million increase in net position and highlights $9.84 million in State 'on‑behalf' TRS payments. The report contained no audit difficulties and included routine management recommendations.
The Lisle Community Unit School District No. 202 Finance Committee reviewed the district’s audited financial statements for the year ended June 30, 2025, which the independent auditor presented as a clean, unqualified opinion. The auditor’s report states the financial statements “present fairly, in all material respects, the respective financial position…as of June 30, 2025,” reflecting no material misstatements identified during the engagement. (Lauterbach & Amen, LLP)
The Annual Financial Report and Management’s Discussion & Analysis showed total governmental‑activities revenues of $55,047,734 and expenses of $52,199,956, producing a $2,847,778 increase in net position. The AFR also notes $9,836,462 in State “on‑behalf” payments to the Teacher Retirement System were included in the audited totals; those amounts are not collected or remitted by the district. The auditors’ SAS 114 communication stated no audit difficulties were encountered and management corrected any immaterial misstatements discovered during fieldwork.
