Nick Redavid, finance director and town treasurer, told the Wellington Board of Trustees on Sept. 9 that "the town has been notified by the state auditor that the 2024 audit has not been submitted and that an extension has not been granted." He said bringing the town into compliance and completing the 2024 audit is the finance department's top priority.

The treasurer presented the town's second-quarter fiscal-year 2025 report, saying overall budget performance is positive through June 30. "Net revenue over expenditures in total exceeds 1,500,000.0," Redavid said, while cautioning that several large expenses remain later in the year.

The report outlined drivers behind the midyear results. Property tax cash receipts were higher than expected because county-disbursed taxes from prior years were received, producing a year-to-date property tax figure that Redavid said is up "15.4% year to date over budget due primarily to disbursement timing." Sales tax is also trending up, while water, sewer and park fund revenues are under budget because impact and tap fees fell short of building-permit projections.

Redavid described several ongoing finance projects: completing the delayed audit with consultant Don Rhodes and new assigned auditor Jim Hinkle of Hinkle and Company; consolidating purchasing, fund-balance and emergency-procurement rules into a centralized financial management policy; and continuing budget development for fiscal 2026. He noted the town received initial county property-tax assessments and is projecting about an $80,000 increase in property-tax revenue next year.

On program updates, Redavid said the town launched an equal-payment program for water-volume charges in July and "as of today, there are 38 active municipal utility accounts enrolled." He also said the finance team reviewed quotes for solid-waste, recycling and portable-toilet services after the current portable-toilet vendor notified the town it cannot meet expectations next year.

Trustee Scannell asked for a timeline for completing the 2024 audit; Redavid said he had requested a September completion but the auditor change made that unlikely and that the department is "guaranteed end of the year" but did not provide a specific date. Trustees asked clarifying questions about sales tax versus use tax and thanked staff for the budget work.

Redavid warned that the town still must make several known large payments this year, including the second half of the Larimer County Sheriff's Office contract payment, the North Poudre Irrigation Company payment in the fourth quarter, and the Box Elder Basin Regional Stormwater Authority annual payment, which occurs in the second quarter and is the stormwater fund's largest expense. He said finance will continue to monitor building-permit impacts on tap and impact fees and update year-end projections and the draft 2026 budget in upcoming meetings.

Town officials did not take formal action on the treasurer's report at the meeting; staff said they will return with drafts and further information at scheduled budget work sessions and meetings.