South Jacksonville accepts clean audit; two control items noted

The Village of South Jacksonville on Nov. 6 accepted a Fiscal Year 2024-2025 audit that auditors said received an "unmodified opinion," meaning the firm concluded the village's financial statements were presented fairly.

Kristi Corpin of audit firm Eck, Schafer & Punke, LLP told trustees the audit produced a clean opinion and that there were no difficulties encountered during the engagement. "We have an unmodified opinion which is considered a clean opinion," Corpin said. She noted the audit identified two internal-control deficiencies: inadequate segregation of duties and the number of adjustments required for audit purposes. The report said the number of audit adjustments has decreased from last year's three items to two and that the village has already made process changes on water-account manual adjustments to add additional approvals.

Treasurer Mindy Olson said staff has restarted the monthly bank-reconciliation review by a board member to address the segregation-of-duties finding. President Richard Samples asked trustees to accept the audit as presented; Trustee Paula Belobrajdic-Stewart moved to approve and Trustee J.W. Coleman seconded. The motion passed unanimously on a roll-call vote.

The audit presentation included informational materials the village will retain for follow-up; auditors recommended the board continue to monitor corrective steps and document supervisory review to close the remaining finding. The report also noted actuarial estimate variability for IMRF liabilities, a recurring estimate-driven item.