2026-03-09 Village of Villa Park Board Meeting COTW

The Village of Villa Park Board held a Committee of the Whole meeting focused primarily on the ongoing forensic accounting review conducted by Baker Tilly. The review covered financial and accounting operations over the past five years, including vendor payments, employee credit card expenses, payroll, and internal controls. Baker Tilly reported no red flags indicating fraud but identified issues related to accounting errors and lack of oversight, particularly concerning overstated revenues and understated expenses affecting the pension funds. The board discussed the need for further analysis, including trend analysis and a proposed forensic review of the Lions Park Recreation Center due to significant cost overruns. Delays in completing the 2024 audit were attributed to previous management and system transitions, not the forensic audit itself. The board expressed confidence in current financial controls and management while emphasizing the importance of completing the audit process promptly to facilitate future planning and grant applications.