State Controller Bob Jaros presents Colorado's clean audit report for fiscal year 2024

During the Legislative Audit Committee Hearing on March 12, 2025, the spotlight was on Colorado's financial health as State Controller Bob Jaros presented the annual comprehensive financial report for fiscal year 2024. The report, which received an unmodified or "clean" opinion, indicates that the state's financial statements are fairly presented in all material respects, a significant affirmation of fiscal integrity.

Jaros, alongside his team, acknowledged the collaborative efforts of various state departments, particularly in light of ongoing challenges such as staff turnover in key accounting positions. "The audit process is long and adds a burden on staff," he noted, emphasizing the dedication required from all involved.

The presentation outlined the structure of the annual report, which includes an introductory section, a financial section, and a statistical section. The introductory section features a letter of transmittal and an organization chart, while the financial section contains essential documents like the independent auditor's report and management's discussion. Notably, the state was awarded the Government Finance Association Certificate of Achievement for Excellence in Financial Reporting for the previous fiscal year, underscoring its commitment to transparency and accountability.

As the meeting progressed, Jaros highlighted key financial activities and trends, setting the stage for further discussions on the statewide single audit report. The committee's focus on these findings reflects a broader commitment to ensuring fiscal responsibility and effective governance in Colorado. The outcomes of this audit will likely influence future budgetary decisions and policy-making within the state.