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Council accepts FY2024 audit; auditors report a clean opinion and one compliance timing finding
Summary
Alpine Summit CPAs reported an unmodified (clean) audit opinion on Hayden’s FY2024 financial statements, noting increased revenues and fund balances; they issued one compliance finding related to the timing of a report to the state. Council voted to accept the audit.
Alpine Summit CPAs presented the City of Hayden’s fiscal year 2024 financial audit at the Nov. 18 council meeting. Toni Hackwith, representing Alpine Summit, said the auditors issued an unmodified (clean) opinion on the city’s financial statements and an unmodified report on internal control and compliance, with one compliance finding related to delayed submission of the city’s report to the state amid staff turnover.
Hackwith reviewed highlights: governmental fund total assets were almost $12.9 million as of Sept. 30, 2024, with fund balance increasing to about $11.7 million from roughly $8.8 million in the prior year; total revenues rose by approximately $2.4 million (driven by property tax increases, higher license and permit revenue and increased investment income), and expenses rose about $1 million (including a $494,000 increase in public safety contract costs and a $550,000 increase in public works costs). Net position changes in the sewer fund reflected significant capital contributions tied to development; auditors noted a $10 million contribution related to an H6 lift station from a developer/partner referenced in the report.
Council thanked the audit team and moved to accept the FY2024 audit as presented; a motion was made and seconded and the council recorded a roll‑call vote approving acceptance. Staff said the acceptance allows production of fourth‑quarter financials and continued fiscal reporting.
