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Colfax auditors issue clean opinion on FY 2024–25 finances; general fund grows, sewer reserves rise
Summary
External auditors presented the fiscal year 2024–25 audit to city council and issued a clean opinion. The city saw revenues exceed expenses across governmental activities, an improved general‑fund balance and increased sewer‑fund reserves; auditors recommended updating the capital asset policy.
Richardson & Company LLP summarized the City of Colfax's FY 2024–25 independent audit for the council on Feb. 11 and issued a clean opinion on the financial statements and a clean internal‑control and compliance report. Auditor Ingrid Shepline said the city's governmental activities showed net revenue exceeding expenses by about $3.3 million, including roughly $1.8…
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