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Audit Objective

Determine whether the Board and Village officials effectively managed sewer operations by reasonably estimating budgets, ensuring a good financial condition and properly billing, collecting and recording sewer rent revenue.

Key Findings

• The Board routinely adopted budgets that were not reasonably estimated, resulting in operating deficits.
• The Board did not develop and adopt multiyear capital and financial plans or receive comprehensive financial reports.
• Because the Board did not annually audit the Clerk- Treasurer’s financial records, it did not identify errors or inaccuracies in the records.

Key Recommendations

• Adopt more realistic budgets.
• Develop and adopt written multiyear capital and financial plans.
• Annually audit, or contract with a certified public accountant to audit, the Clerk-Treasurer’s records.

Village officials agreed with our recommendations and indicated they planned to initiate corrective action.