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Fruita council approves 2024 financial statements, accepts auditor—s report
Summary
The Fruita City Council voted unanimously to approve the city—s 2024 financial statements and accept the auditor—s report after a presentation showing increased net position, positive variances and planned reappropriation of capital funds to 2025.
The Fruita City Council on a 5-0 vote approved the city—s 2024 financial statements and accepted the auditor—s report, following a staff presentation that characterized the city—s financial position as strong and stable.
City staff told the council the city—s total net position for 2024 is $135,200,000 and that the net position rose $9,700,000 from 2023. The presentation noted the 2023 figures were restated to reflect implementation of GASB 101 on compensated absences. Staff said 70% of net position is net investment in capital assets, 7% is restricted by outside requirements such as TABOR emergency reserves and development impact fees, and 23% is unrestricted; unrestricted…
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