Greeley-Evans School District 6 audit clean; federal single-audit largely complete
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Summary
External auditors issued an unmodified (clean) opinion on Greeley-Evans School District 6s FY2025 financial statements, noting a roughly 40% fund balance and a long-term net pension liability near $350 million; the federal single-audit (about $32 million) is about 90% complete with no findings so far.
Greeley-Evans School District 6 Board of Education received a clean financial audit for fiscal year 2025, the districts external auditor reported during the boards Dec. work session. John Paul of CliftonLarsonAllen said the firm issued an unmodified, informally described as a "clean" audit opinion for the districts financial statements.
The audit presentation gave a high-level snapshot of the districts finances. John Paul said assets minus liabilities have declined modestly over the past six years but that the districts general fund position this year was similar to the prior year. He highlighted an available fund balance of about 40% of annual expenditures, which he described as a relatively healthy liquidity benchmark.
On the long-term statements, the auditor noted the districts share of Colorado PERA liabilities. "That net pension liability has an enormous impact on the ending net position," John Paul said, and he placed the liability at just under $350 million on the long-term statements. He also explained that other post-employment benefits (OPEB) appear throughout the statements but are small by comparison.
The auditor said the district received a little more than $32,000,000 in federal awards in FY2025. The single-audit, which reviews federal award compliance, is about 90% complete and is focusing this year on the IDEA program (special education), 21st Century Community Learning Centers, and GEAR UP (college-readiness). At the time of the presentation, John Paul said there were no federal findings to report.
Board members asked technical questions about audit timing and accounting changes. John Paul and Mandy Haidock, the districts director of finance, explained that a late release of federal compliance guidance pushed completion of the single-audit later than usual and that a change in governmental accounting standards for compensated absences produced an approximately $1.4 million increase presented as current-year activity rather than a restatement of prior-year balances.
Finance staff and auditors reported no material weaknesses or significant deficiencies and said they had no audit adjustments that required board-level notification. Board members thanked the finance team and the auditors for their work. President Masch told the board the business meeting would follow at 6 p.m., and the work session was adjourned.
What happens next: the auditor and finance staff will finish the single-audit work on federal awards and deliver the remaining documentation required by federal guidance; the board will receive the final single-audit when completed.
