Auditor gives Pueblo District 70 a clean opinion, cites stronger reserves

The 2025 financial audit for Pueblo County School District 70 received an unmodified, or "clean," opinion, audit manager Chris Banta told the board on Jan. 13. Banta said the district's financial statements are "presented fairly in all material respects" and highlighted improvements across several metrics.

Key figures Banta cited included roughly $6.4 million more in cash and investments year over year, a net position increase of about $6 million, and a rise in the fund-balance-to-expenditure ratio from 26.9% to 36%. He said days of expenditure covered by fund balance increased from about 97 days in fiscal 2024 to 132 days in fiscal 2025.

Banta also said capital assets decreased as depreciation exceeded outlays and liabilities declined by about $17 million; the unfunded portion of net pension and OPEB liabilities fell by about $4 million. Grant activity decreased by about $6 million largely because ESSER funds wrapped up in FY24. Internal-control findings identified in the auditors' first year with the district were resolved: "this year, we were able to get that 1 finding completely off," Banta said, and no significant deficiencies or material weaknesses were reported.

On federal awards testing, Banta reported no compliance issues in the single-audit work. He praised the finance team and singled out a staff member for leadership during a management transition.

What happens next: The audit presentation closed with an opportunity for board questions; no formal vote was required on the audit presentation.