Auditor gives clean opinion; commissioners approve Story County audited financial statements for FY2025

The Story County Board of County Commissioners unanimously approved the audited financial statements for the fiscal year ending June 30, 2025, after a presentation by the county comptroller and the audit firm DiPietro & Thornton.

Comptroller Jennifer McCain introduced the report and said the audit was prepared by Joe Costanza of DiPietro & Thornton. Auditor Costanza told the board "the audit did come back with a clean opinion," and walked commissioners through key figures in the statements.

Costanza reported combined governmental funds ending balances of approximately $139,000,000 and a general fund balance of about $39,600,000. He said countywide revenues were roughly $124,600,000 and countywide expenses totaled about $50,000,000 (including $26,000,000 in the general fund, $10.6 million in the fire district, $6.6 million in capital projects, $6.5 million in TRI payback and $4.7 million for roads). Costanza also said total county debt decreased by about $6,500,000 to a balance of $29,562,639.

The auditor flagged two nonmaterial findings related to invoice recording periods and noted a prior‑period adjustment tied to a new governmental accounting standard for sick‑leave liabilities (an estimated $200,000 prior‑period liability). Costanza described the issues as nonmaterial and praised county staff for responsiveness; he said the county’s investment portfolio consists of conservative instruments such as CDs, treasuries and money market holdings.

Commissioner Mitchell moved to approve the audited financial statements for FY2025; the motion was seconded and passed unanimously. The board did not identify further action beyond acceptance of the report.