Village of Glencoe finance staff on Monday presented the annual comprehensive financial report and management letter for the calendar year ending Dec. 30, 2024, and asked the Village Board to approve the report so required state filings could proceed.

Assistant Chief Financial Officer Margaret Schwartz introduced the audit presentation and told the board the auditors issued a “clean unmodified opinion,” the highest level of assurance an auditor can give. She said the general fund showed a net increase of about $528,000 for the year and that the Village’s general fund balance stood at roughly $17.1 million.

The report covers the Village’s financial statements, notes, long-term debt and capital assets. Schwartz walked through the management’s discussion and analysis and pointed board members to budget-to-actual detail in the budgetary information section. She said, if the board approves the audit, staff will complete the Illinois Comptroller filing, an Illinois insurance report, the annual required debt disclosure and the treasurer’s report.

Schwartz acknowledged the finance team and the auditors for their work producing the report and noted the Village sought a certificate of achievement tied to the prior audit year’s submission.

The transcript records the presentation and staff’s request for approval but does not record a clear motion or vote on acceptance of the annual comprehensive financial report during the portion of the meeting provided in the transcript.

Board members did not pose substantive questions about the figures during the recorded portion of the meeting. The assistant CFO noted the report’s notes and the budgetary schedules for members who want further detail.

The report is a public record and, if accepted by the board, will be filed in statutorily required statewide reports and posted per the Village’s normal disclosures.