La Grange Finishes Audit After Missing Deadlines

LA GRANGE, IL – The La Grange Village Board heard a presentation on its audit on Monday – 327 days after the budget year in question ended.

The village had missed state deadlines to get the audit done.

The lateness had gone unmentioned at board meetings, other than from resident Alan Foreman, who spoke during public comments.

Asked for the reason for the delays, the village pointed to a shorthanded finance department.

La Grange received a "clean" opinion from its auditor, Naperville-based Sikich.

The audit listed "significant deficiencies" in bank reconciliations and segregation of financial duties.

"During our testing of cash, we noted that bank reconciliations were not being completed on a timely basis," the auditor said. "The lack of timely bank reconciliations increases the risk that errors or irregularities related to cash balances may go undetected and uncorrected."

No significant deficiencies were found in the previous two years.

La Grange has long been recognized for its budgets.

For the last three decades, the Government Finance Officers Association has given the village its Distinguished Budget Presentation Award and Certificate of Achievement for Excellence in Financial Reporting.