August 3, 2026 City of West Chicago Finance Committee

The City of West Chicago Finance Committee convened on August 3, 2026, primarily to review and discuss the 2025 Annual Comprehensive Financial Report presented by auditors from Lauterbach and Amen. The presentation covered key financial statements, including the city’s governmental and proprietary funds, pension fund statuses, and budgetary schedules. The auditors reported a clean opinion on the city’s financial statements with no significant internal control issues identified. They highlighted positive pension funding statuses and noted upcoming changes in financial reporting standards for the next fiscal year. The committee discussed budget performance, noting revenues and expenditures relative to budgeted amounts, and acknowledged the city’s attention to IT security risks as a transparency comment. The meeting concluded with the approval of the budget and a brief mention of anticipated agenda items for the next meeting, with no new procurement or contract awards discussed.