Auditors release 21 reports, flag findings at three universities

Deputy Auditor Marissa Edwards told the Legislative Audit Committee that the auditors had released 21 reports without a hearing and provided a brief summary of key findings.

Edwards said the first 11 reports were fiscal year 2025 financial and compliance audits of state departments and higher education institutions; most received an unmodified (clean) opinion. She identified institution-specific findings: Colorado State University System received one significant deficiency related to compliance for student financial aid reporting; Fort Lewis College received one significant deficiency related to financial reporting; and Metropolitan State University of Denver reported three findings, including one material weakness and two significant deficiencies, two tied to student financial aid reporting and a third relating to IT and Workday system controls.

Edwards said the other reports (eight, as she corrected) contained no findings. The next 10 reports were required NCAA compliance reports for fiscal 2025 covering Division I and Division II athletics programs; the auditors performed standard procedures and included testing results in each report. The released reports will be posted electronically on the auditors' website.

When asked whether institutions with findings agreed to implement recommendations, Edwards said the affected universities agreed and plan to implement the recommendations with implementation dates in 2026. The committee scheduled its next meeting for Jan. 28, 2026, at 7:15 a.m. in the Old Supreme Court Chambers and then adjourned.