Minooka village audit comes back clean
By Kris Stadalsky Correspondent October 28, 2013 6:12PM
Updated: December 1, 2013 7:24AM
The village of Minooka received a clean audit report last week for fiscal year 2013. Auditor Brian Zabel, of Zabel and Zabel of Morris, found no misappropriations.
“The only concern would be if I were concerned with the fiscal viability of the village, but I am not,” Zabel said. “You guys are in great shape.”
The village ended the fiscal year with $11.8 million in the bank in cash and investments, Zabel said. That number is down $2 million from last year.
During 2013 the village reduced its debt by $1 million, leaving $15 million in bonds still unpaid.
The village brought in $400,000 more in revenues in the last fiscal year, mostly due to sales tax, Zabel said.
Next year the village will have to include on its report the underfunding status of the police pension fund and Illinois Municipal Retirement Fund.
“But you guys are on the forefront of that and I think it’s a good spot to be in,” Zabel said.
Overall, the village is in excellent financial shape, Zabel said, attributing that to a good staff and foresight into upcoming issues.
Meanwhile, the board of trustees approved a contract to lowest bidder Superior Excavating for the Wabena Avenue water main replacement project. The new 10-inch main will replace the old four-inch pipe from St. Mary’s Street to Coady Drive.
It also was mentioned that the Minooka Police Department recently raised $11,500 for Special Olympics during its annual Trivia Night fundraising event.