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Auditor: Village of Bolingbrook financial statements for FY2023-24 are "fair"; next audit to review compensated absences
Summary
Christine Torres of Crowe, LLP told the Finance Committee that the Village of Bolingbrook's financial statements for the year ended April 30, 2024, were fair and showed no significant impact; she said the FY2025 audit will include compensated absences.
Christine Torres of Crowe, LLP presented the Village of Bolingbrook's annual financial report for the fiscal year that ended April 30, 2024, telling the Finance Committee: "The financial statements were fair and there is no significant impact." The presentation summarized the firm's assessment and identified no material adjustments to the village's financial statements for the period.
Torres told committee members that the auditors will cover compensated absences as part of the fiscal year 2025 audit cycle, signaling that employee leave liabilities will receive specific review in the next audit. Finance Director Rosa Cojulun and staff confirmed that audit planning is underway and that committee members would be briefed in future sessions if additional findings arise.
The audit presentation provides an independent review of the village's financial records for 2023-24 and is the basis for managerial and public confidence in the municipal accounting picture. The committee did not record any dissent or follow-up motion at the March 11 meeting; staff said planning for the next audit phase is in process.
