Mokena Receives “Clean” Financial Audit for Fiscal Year 2025

Mokena Village Board Meeting | November 24, 2025

Article Summary: Financial auditors from Lauterbach & Amen, LLP issued a clean, unmodified opinion of the Village of Mokena’s financial statements for the fiscal year ending June 30, 2025. The report, presented during the Nov. 24, 2025, board meeting, indicates that the village’s assets exceed its liabilities by more than $200 million.

Fiscal 2025 Audit Key Points:

• Net Position: The assets of the village exceeded liabilities by $200,136,911 as of June 30, 2025.

• Fund Balance: The General Fund, Mokena’s primary operating fund, ended the year with a balance representing approximately 89% of total expenditures.

• Debt Management: The village successfully retired its G.O. Refunding Bonds, Series 2012A, during the fiscal year.

• Pension Health: The Police Pension Fund is currently 82% funded, while the IMRF is 86% funded.

The Mokena Village Board on Monday, Nov. 24, 2025, voted unanimously to accept the Fiscal Year 2025 Audit. Monika Adamski of the auditing firm Lauterbach & Amen, LLP delivered the report, confirming that the village received an “unmodified opinion,” the highest level of assurance provided in a financial audit.

The audit revealed a strong financial position for the village, with governmental funds reporting a combined fund balance of $40,180,235. This figure represents an increase of $2,599,849 from the prior year. Of that total, $11,423,927 remains unassigned in the General Fund, which the village utilizes for day-to-day operations.

Management continues to follow a policy of maintaining a General Fund balance of at least 33% of expenditures. As of the end of the fiscal year, the village far exceeded that goal, with a balance equal to 89% of expenditures, including year-end transfers.

Adamski also highlighted the village’s managed debt levels. The retirement of the Series 2012A G.O. Refunding Bonds was a milestone for the year, while the promissory note for the police station remains on track to be paid off in 2031. Village Administrator John Tomasoski and the board were thanked for their work in maintaining the village’s “conservative fiscal philosophy,” which includes accumulating reserve funds for future infrastructure projects.