Peotone Board Welcomes New Trustee, Receives Top Recognition in Annual Audit

Peotone CUSD 207-U Meeting | December 15, 2025

Article Summary:

The Peotone CUSD 207-U Board of Education swore in Steven Clark as its newest trustee during its December meeting and received a high “Recognition” status from its annual independent audit. The auditor reported no deficiencies in internal controls and confirmed the district is in good standing with the state.

Board Governance and Audit Key Points:

• Steven Clark was seated as a newly appointed board trustee, taking the oath of office at the start of the meeting.

• The district received a Financial Profile Score of 3.65 out of 4.0 from the Illinois State Board of Education.

• Independent auditor John Michalesko issued a “clean” or unmodified opinion on the district’s financial statements.

• Federal program spending exceeded $750,000, triggering a single audit that found zero instances of non-compliance.

The Peotone CUSD 207-U Board of Education reached full strength and received a clean bill of health regarding its financial oversight during its regular meeting on Monday, Dec. 15, 2025.

The proceedings began with Board President Dawn Love administering the oath of office to newly appointed trustee Steven Clark. Clark, who expressed his interest in the role during a special meeting on Dec. 8, officially joined the board following the resignation of former member Jodi Becker in November.

Following the seating of the new trustee, John Michalesko, a CPA with Gassensmith & Michalesko, Ltd., presented the results of the annual district audit for the fiscal year ending June 30, 2025. Michalesko issued an “unmodified opinion,” the highest level of assurance an auditor can provide, meaning the district’s financial records are accurately presented.

“We did not find any deficiencies within the internal controls,” Michalesko told the board. “All monies that leave the school were approved in a proper chain of command… and ultimately by the board.”

The audit revealed that the district brought in $23.4 million in revenue and had expenditures totaling just over $29 million for the fiscal year. Michalesko also noted that the district earned a 3.65 out of 4.0 on its state financial profile, which places Peotone in the “Recognition” category—the highest level of financial health designated by the Illinois State Board of Education.

Michalesko explained that the audit was released later than usual due to delays at the federal level. Because the district spent more than $750,000 in federal funds, it was required to undergo a “single audit.” The federal government delayed releasing the necessary compliance supplements, which prevented the firm from finalizing the report until late November.

The board also approved Report No. 41, accepting a proposal for underwriting services for the district’s Series 2026 bonds from Stifel, Nicolaus & Co. The firm was recommended by PMA Securities for offering the lowest fees among four competing proposals.