New Lenox School District 122 Receives ‘Clean’ Audit for Fiscal Year 2025

New Lenox School District 122 Meeting | October 21, 2025

Article Summary: New Lenox School District 122 has received an “unmodified opinion”—the highest level of assurance—on its 2024-2025 annual financial audit, confirming the district’s financial statements are accurately presented and in strong condition.

FY25 Audit Key Points:

• The audit by the firm Wipfli resulted in a “clean” or unmodified opinion, with no material weaknesses or significant deficiencies found.

• The district’s financial statements are prepared on a modified accrual basis, the standard for governmental accounting.

• NLSD 122 once again received the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International.

• The auditor praised the district as the only Wipfli client to submit its audit on time and without any issues.

NEW LENOX, IL – The New Lenox School District 122 Board of Education on Tuesday, October 21, 2025, accepted its annual financial audit for the fiscal year ending June 30, 2025, which received a “clean” and unmodified opinion from its financial auditor, Wipfli.

Jennifer Decker, a senior auditor from Wipfli, presented the findings to the board, stating that the audit resulted in the highest level of assurance possible. This means the district’s financial statements were fairly presented in all material aspects and were found to be in compliance with accounting standards, with no material weaknesses identified.

“This is something the District should be very proud of,” Decker told the board. She also highlighted that NLSD 122 was the only district audited by Wipfli to be issued on time and submitted without any issues.

Decker noted that the district remains in strong financial condition, maintaining stable reserves and excellent financial controls. For another consecutive year, the district has received the Certificate of Excellence in Financial Reporting from the Association of School Business Officials International, an achievement accomplished by only a small percentage of school districts in Illinois.

Board member Al Haring inquired about the use of a modified accrual basis versus a cash basis for accounting. Decker explained that the modified accrual basis is the industry standard for government, as it provides a “true and accurate accounting” of all expenditures, payables, and receivables within a fiscal year.