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A Motion to Approve the Unaudited Year-to-Date Quarterly Financial Report as of March 31, 2025
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Introduction
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On a quarterly basis, the Finance Department prepares and provides a quarterly financial update for village management and elected officials which assesses year-to-date revenues and expenditures. All the numbers and information presented in the quarterly update are unaudited and subject to change.
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Recommended Action
Approve the report.
Prior Board Action
There is no prior Board action associated with this specific item.
Background
On a monthly basis as required under State statute, staff presents a Treasurer's Report which primarily focuses on ending cash and investment balances. To supplement this information, the Finance Department also prepares a more detailed and thorough quarterly financial update and analysis for all major Funds. While this quarterly update is unaudited, it nonetheless provides crucial information on key revenues and expenditures incurred throughout the year. Significant variances are analyzed and explained within the report.
Timing Considerations
There are no specific timing considerations associated with this item.
Budget Impact
There is no budget impact associated with this item.
Staffing Impact
There is no staffing impact associated with this item. The item aligns with the department's core service delivery.
DEI Impact
There is no DEI impact associated with this item.
Community Input
There has been no community input given in relation to this item.
Staff Recommendation
Approve the Motion.
Alternatives
There are no alternatives associated with this item.
Anticipated Future Actions
There are no anticipated future actions associated with this item.
Prepared By: Donna M. Gayden, Interim Chief Financial Officer
Reviewed By: Jack Malec, Assistant to the Village Manager
Approved By: Kevin J. Jackson, Village Manager
Attachment(s):
1. Unaudited Year-To-Date Financial Repor...
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