2026-04-13 Village of Villa Park Board Meeting COTW

The Village of Villa Park Board of Trustees held a Committee of the Whole meeting on April 13, 2026, primarily focused on reviewing the 2024 annual financial audit presented by a principal from Badbach and Aean. The audit report highlighted a qualified opinion due to the absence of a GASB 75 valuation for other postemployment benefits but was otherwise clean with no internal control issues. Key procurement-related discussions included budget performance, with the general fund showing a $2.8 million operating increase due to higher revenues, though some funds were over budget or in deficit, prompting recommendations for improved budget monitoring. The management letter included four current year recommendations and noted some funds, such as the DUI technology fund, were not in compliance due to negative balances, which management plans to address. The board discussed specific budget overruns, including an unbudgeted bond payment in the debt service fund, and emphasized ongoing efforts to implement audit recommendations to improve financial controls and compliance. The meeting concluded with no further questions and a motion to adjourn.