An independent audit of Teton County’s financial statements for the year ending Sept. 30, 2024, produced a clean, unmodified opinion, county auditors reported at the July 15 Board of County Commissioners meeting.

The auditors told the board the county’s general fund balance increased by about $515,000 year‑over‑year to just over $5 million and that enterprise funds (solid waste and 911) were generally stable. Auditors noted a small decrease in the emergency communications fund and a positive net position in solid waste. New lease obligations (finance‑purchase style leases for vehicles and heavy equipment) were recorded in the year’s long‑term liabilities, with roughly $1.18 million in new capitalized leases recorded and future minimum payments disclosed in footnotes.

Auditors also pointed to the pension liability reported under full‑accrual government‑wide statements and said the county’s share was about $4.4 million; auditors reminded the board that the practical obligation is the ongoing pension contributions to the Public Employee Retirement System (PERSI), and that actuarial estimates drive the large, fluctuating number.

Importantly, auditors said the county had recognized a general estimate of roughly $1 million in contingent liabilities for pending litigation matters in the footnotes, reflecting management’s estimate at audit close. Auditors described the estimate as conservative and noted litigation outcomes could change the recorded amounts; they also said management and the county prosecutor were vigorously defending the cases.

The audit did not identify new material weaknesses or significant deficiencies; internal control issues raised in the prior year were reported as resolved by management. Auditors recommended that property‑tax revenue be budgeted as revenues in the formal budget schedules rather than listed as an asset/unavailable revenue for clarity in budget reporting.

The board heard the presentation from the auditors and accepted the audit for record and follow‑up; the audit documents will be included with the county’s financial records and posted with the agenda materials.