The Village’s Auditor, Marcum LLP, recently concluded its detailed Annual Audit of Fiscal Year 2020-21, which began on October 1, 2020 and ended on September 30, 2021. Most importantly, the Audit did not reveal any findings, or deviations from best practices.
The Auditors also confirmed that the General (Operating) Fund ended the fiscal year with a $241,601 surplus. That represents quite a turnaround from the projected deficit at the beginning of the fiscal year; a turnaround propelled by increasing revenues and conservative budget management from the Village’s Department Directors. The General Fund ended the fiscal year with a fund balance of $10,925,660, which is equivalent to over 70% of what the Village spends annually on police, parks and so on.
The Village Council has made hard budget decisions in the past that have put the Village in a much stronger position to economic problems and downturns.
The Annual Comprehensive Financial Report is available for download here. You can also view or download the current and prior year reports from our website.
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