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Morgan Park Academy Oct2016

The Homewood-Flossmoor Park District got the highest audit rating for its 2015-16 fiscal year that ended April 30, 2016.

Scott Termine, of BKD CPAs and Advisors, told park commissioners that at the completion of the audit, the park district was given a  “clean or unmodified opinion. It’s the best you can get under the circumstances” that now shows the full pension liability.

Under new Governmental Accounting Standards Board rules, this year taxing bodies must show pension liabilities. The park district’s net pension liability is $2.8 million, Termine said. In . . .

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