Auditors give Village of Greendale an unmodified opinion; reserves top $5.3 million

The Village of Greendale’s 2025 financial statements received an unmodified auditor’s opinion, the village’s contracted auditor told trustees on May 5.

"An unmodified opinion is the highest level of assurance," Brian Grenald of Clifton Narson Allen said, adding: "I believe that your financial statements are complete and accurate and in accordance with our professional standards." The firm also provided a governance letter that describes standard disclosures and audit adjustments.

The audit presentation showed the village ended 2025 with total general‑fund reserves of $5,361,000 — about $705,000 higher than the prior year — and an unassigned fund balance near $5.1 million. Grenald said revenues outpaced budget by roughly $360,000 while general‑fund expenses finished about $400,000 under budget.

Trustees used the presentation to press staff on the village’s reserve policy and how the community should balance holding reserves versus paying down debt or funding projects. "We’re building up the reserves because we project needing those reserves in order to continue our operations in the next 5 to 10 years," Mike (village manager) said, explaining the village’s conservative 10‑year financial plan.

The auditor also reviewed utilities: the water utility reported operating income of about $666,000 and an overall net position increase; the sewer utility showed a small reduction in net position of around $35,614 for the year. Trustees discussed planned periodic rate adjustments and tying utility revenue plans to long‑range capital needs.

Trustees thanked staff for the audit results and the work to maintain strong balances, and asked that the village continue to present long‑term scenarios for when reserves might be deployed for roads, infrastructure or debt reduction.