Kit P. Ketchmark, Village Trustee | Riverside Brookfield Landmark
Kit P. Ketchmark, Village Trustee | Riverside Brookfield Landmark
Village of Brookfield Committee of the Whole met Sept. 8
Here are the minutes provided by the committee:
MEMBERS PRESENT: Village President Michael Garvey, Trustee Jennifer Hendricks, Trustee Kathryn Kaluzny, Trustee Kit Ketchmark, Trustee Julie Narimatsu, Village Clerk Michael Melendez, and Trustee Kyle Whitehead
MEMBERS ABSENT: Trustee Nicole Gilhooley
STAFF PRESENT: Adam Durkin, Michael Kuruvilla, Tim Wiberg, Stevie Ferrari, Libby Popovic, and Doug Cooper
ROLL CALL
REGULAR BUSINESS
2024 Annual Audit Report (Annual Comprehensive Financial Report) and 2024 Management Letter
Finance Director Doug Cooper introduced representatives from Lauterbach and Amen, the Village’s audit firm, to present the 2024 Annual Audit Report and management letter. Partner Matt Beran reported that the Village received an unmodified opinion, the highest level of assurance available. The audit concluded that the Village’s financial statements are materially correct and in compliance with government accounting standards, and the report will be submitted to the GFOA for the Certificate of Achievement in Financial Reporting. The management letter identified five comments: certain funds exceeded budgeted expenditures, three funds had deficit fund balances, the General Fund balance was slightly below the 25% fund balance policy due to a $1.6 million transfer to capital projects, improvements are needed in capital asset historical records, and regular review of cash allocations between funds was recommended as a best practice. Mr. Beran commended Village staff for their cooperation throughout the audit. Finance Director Cooper stated that corrective actions are being developed and that issues such as deficit fund balances and fund balance policy compliance will be addressed during the upcoming budget process. No board action was required, and the report was accepted as presented.
PUBLIC COMMENT
EXECUTIVE SESSION
ADJOURNMENT
Motion to Adjourn Committee of the Whole Meeting at 7:17pm
Moved by Trustee Julie Narimatsu, seconded by Trustee Kyle Whitehead, Motion to Adjourn Committee of the Whole Meeting at 7:17pm
Carried by the following votes: Ayes: Trustee Jennifer Hendricks, Trustee Kathryn Kaluzny, Trustee Kit Ketchmark, Trustee Julie Narimatsu, and Trustee Kyle Whitehead
https://brookfieldil.civicweb.net/document/176732/
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