The Village of Thiensville remains on rock-solid financial ground and continues to enjoy its status as a debt-free community, according to the Aug. 12 annual audit report to the Village Board.
“Thiensville is in good financial shape and continues to be debt-free,” Village President Van Mobley said.
John Knepel, who presented the audit report from Baker Tilly Virchow Krause & Co., told village trustees that no material weaknesses were identified and his firm’s report reflects the “highest level of assurance you can receive from your auditor.”
Mobley said Thiensville’s financial position was a bit different this year than in the past due to the retirement of the village’s Tax Incremental Finance District.
“With the expiration of the TIF, Thiensville residents saw a tax cut – and the village has to make due with a little less money – but we have no debt and we’re sound financially,” Mobley said. “Our position is very strong.”
The audit report comes just prior to the Village Board starting discussions on the 2020 budget.
Mobley said he expects next year’s budget to focus on road work in the village, a possible sidewalk or trail along Freistadt Road and additional improvements to Village Park. Some initial work already has taken place to plan for an interactive water feature in the park, which is the next goal of Village Park ReImagined.
The Village Board is expected to conduct initial budget discussions in October.