Title
Acceptance of the Fiscal Year 2025 Annual Comprehensive Financial Report
History
The Village of Orland Park Fiscal Year 2025 Annual Comprehensive Financial Report (ACFR) has been completed. This report serves as management’s annual financial report to taxpayers, the Village Board, oversight bodies, investors, and creditors of the Village. It provides a comprehensive overview of the Village’s financial position as of December 31, 2025, and summarizes financial activities for the fiscal year ending December 31, 2025. The Village’s auditing firm, Sikich, has issued an unmodified (“clean”) opinion, indicating that the Village’s financial statements present fairly, in all material respects, the financial position of the Village for the fiscal year ended December 31, 2025. This represents the highest level of assurance that can be provided by the auditors.
In addition, Public Act 98-0738 requires the auditor to perform the following within sixty days after the issuance of audited financial statements:
· Provide a copy of the management letter and audited financial statements to the Municipality’s Corporate Authorities. If the county or municipality maintains a website, these reports shall be posted to the website.
· Present the information from the audit to the Municipality's Corporate Authorities either in person or by live phone or web connection during a public meeting.
This memorandum provides an overview of the following documents prepared or reviewed by Sikich:
· Annual Comprehensive Financial Report,
· Report to the Village Board of Trustees, Results of the 2025 Financial Statement Audit, including Required Communications, and
· Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards.
Upon acceptance, the Annual Comprehensive Financial Report and Management Letter will be published on the Village’s website and distribu...
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