TO: Finance Committee
FROM: Kevin Sing, Director of Finance
SUBJECT:
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2025 Annual Comprehensive Financial Report
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BACKGROUND:
The 2025 Annual Comprehensive Financial Report is being presented for formal acceptance. This is our annual audited financial statement and consists of two separate reports, the Annual Comprehensive Financial Report of the City of Joliet and a single audit of the City of Joliet. The single audit is required since the City receives over $1,000,000 in federal funding.
In 2022, the City engaged Wermer, Rodgers, Doran, and Ruzon (WRDR) to perform the annual audit through fiscal year 2026. WRDR has provided their opinion that the City’s financial statements conform to accounting principal generally accepted in the United States and that the single audit has no findings.
RECOMMENDATION:
recommendation
It is recommended that the Finance Committee formally accept the 2025 Annual Comprehensive Financial Report and single audit.
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