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County accepts FY25 financial report and single audit; auditors issue clean opinion
Summary
Los Alamos County presented its FY25 Annual Comprehensive Financial Report and single audit; auditors issued unmodified (clean) opinions with no findings, and council accepted both reports unanimously.
Los Alamos County presented the FY25 Annual Comprehensive Financial Report (ACFR) and a separately issued single audit report on Jan. 27. County finance staff and external auditors highlighted key financial results and compliance outcomes.
The finance presentation noted the county’s total ending net position for fiscal year 2025 was approximately $660.3 million, an increase of about $26.8 million from the prior year. The governmental funds reported a small surplus — approximately $855,000 — as of June 30, FY25, after a year that included an $18 million drop in gross receipts tax (GRT) compared with the prior year and an increase in capital asset spending. Business‑type activities showed program revenues approximately $5.1 million less than program expenses in FY25.
Auditors from the contracting firm told council they issued two unmodified opinions — one on the financial statements and one on major federal programs under the single audit — and reported no audit findings. "The two opinions are unmodified, and that means clean opinion," the auditor said.
Councilor Ninkland moved to accept the ACFR and single audit for the fiscal year ended June 30, 2025; the motion was seconded and adopted by roll call, 7–0. County staff thanked the finance team for their work and noted the report includes a 10‑year statistical section and other material required under GASB and professional reporting standards.
