Blair & Associates presented Ouray County’s 2024 audited financial statements to the Board of County Commissioners on July 29 and issued a clean opinion. The auditor’s management report showed the county’s total net position rose by about $1.2 million and the general fund balance increased by roughly $500,000 compared with 2023.

Key audit findings and takeaways
- Clean opinion: Auditors provided an unmodified (clean) opinion on the 2024 financial statements.
- Fund balance and net position: General fund and certain other funds increased; the courthouse restoration fund showed a planned increase tied to debt payments.
- Long‑term liabilities and compensated absences: Auditors noted a change in reporting for compensated absences under GASB guidance, increasing recognized compensated‑absence liability to about $524,000 (from prior years’ lower figures) and asked the county to ensure consistent accrual treatment.
- Custodial funds and cash: The treasurer’s custodial holdings were disclosed (~$604,000) and the county’s cash and investments were summarized.
- Audit adjustments and internal items: Auditors recorded several audit adjustments (13 described) mainly for accruals and prior‑period items and recommended improved lease tracking as the county is using more leases and intangible lease accounting.

Commissioner questions and concerns
Commissioners asked specific operational questions during the presentation. They noted that EMS accounts receivable collection assumptions (management estimate using a roughly 50% collection rate) change year‑to‑year and asked auditors for how that percentage is calculated (auditors said it is based on billing statements and observed collections for the period). Commissioners also raised concerns about rising maintenance fees and implied interest on recent vehicle leases (noting recent Tacoma leases carried higher maintenance fees than earlier vehicle leases) and asked staff to consider whether purchases rather than leases might be more economical.

Follow up and next steps
Auditors recommended the county use a lease‑tracking tool (or improved internal process) to log lease obligations and payment schedules. County staff and auditors agreed to correct a typographical figure in the draft report. Commissioners indicated consensus to forward the audit for filing and to discuss lease procurement strategy during upcoming budget discussions.

Ending: The board accepted the presentation and directed staff to file the audit reports and follow up on lease tracking, compensated‑absence accounting, and EMS receivable assumptions as part of budgeting work.