Audit: Village in Solid Financial Shape
 
Posted on Monday December 11, 2017
 
The Village of Mokena is in solid financial shape, according to Wipfli, LLP, an independent auditor examining the Village’s books.
 

The Mokena Village Board recently received a copy of the Village’s official financial audit for the fiscal year ended June 30, 2017 and heard testimony on the audit from Mr. Brad Werner of Wipfli.

The Board unanimously accepted the audit.

A few selected conclusions drawn from the audit--

  • Debt levels are manageable, as the Village Board has carefully worked to balance improving the Village’s core infrastructure while assuming principal and interest payments that can be met through earmarked sources.
  • The Village Board has also been able to continue its philosophy of earmarking funds for current and future improvement projects.  These core projects include water and sewer utility improvements, road projects, and facility improvements.
  • Both of the Village’s pension funds (Police Pension and Illinois Municipal Retirement Fund) are stable.  Based on the Illinois Department of Insurance’s 2017 Biennial Report, the Village’s Police Pension Fund was ranked 8th highest out of 358 Downstate Police Pension Funds for funding levels.

The audit’s overall findings support the Board’s financial stewardship which has led the way to Mokena consistently having the lowest municipal tax rate in the Lincoln-Way area.

 

 
Village of Mokena | 11004 Carpenter Street Mokena, IL 60448
Phone: (708) 479-3900  |  Fax: (708) 479-4844
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