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Airport authority accepts 2025 audit and reviews financials showing depreciation-driven paper loss
Summary
The Fargo Airport Authority approved a clean 2025 audit and reviewed year-end financials showing $5.8 million in depreciation that produced a reported operating loss of $395,000 but a positive operating position when depreciation is excluded; auditors reported one prior‑year retainage correction and no compliance exceptions on federal programs.
The Fargo Airport Authority on Thursday accepted a clean independent audit of its 2025 financial statements and reviewed year-end financial results that include a large non‑cash depreciation entry.
A staff presenter summarized the audited statements and key performance indicators, saying the amount of depreciation added into 2025 expenses was $5,800,000 and that the depreciation produced a net operating loss of $395,000. "If we add the depreciation back in, we are seeing — excuse me —…
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