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County auditor and external auditors report clean FY2025 audit; one minor federal reporting finding
Summary
External auditors issued an unmodified opinion on El Paso County's FY2025 financial statements, reported implementation of new GASB standards, and noted one minor single-audit compliance finding (a 10-day late federal report). The county's general fund ended FY25 with roughly $105 million in net assets and FY26 projections showed an estimated $100M+ fund balance.
El Paso County received an unmodified (clean) opinion on its FY2025 comprehensive annual financial report at the Commissioner's Court meeting May 11.
Chris Garner, partner at external auditor Patillo Hill & Brown, told commissioners the audit produced an unmodified opinion and that government-auditing (‘‘yellowbook’’) testing of internal controls produced no exceptions. Auditors were independent and implemented recent standards including the new compensated-absences accounting change. Garner said auditors noted one finding under the federal single-audit for a late federal reporting filing; staff explained the delay involved corrections and an October federal government shutdown but said the late filing had no material financial consequence.
County Auditor Barbara Parker and finance staff were recognized for their work preparing the report. Garner summarized the general fund position: at year end the general fund held roughly $171 million in assets, $66 million in liabilities and about $105 million in net assets. Primary revenue increases were driven by property taxes; public safety expenditures and personnel costs rose year-to-date in FY26 projections. Interim financial reporting for March 2026 showed property-tax collections and charges for services as drivers of increased revenue; the county projected an FY26 fund balance in the neighborhood of $100.6 million (approximately 12% of budget).
Garner emphasized the scope limits of audits — statistical sampling and reasonable assurance — and said staff provided requested documentation in a timely way during the first-year engagement with the new audit firm.
Next steps: auditors will issue the full audit documents online; staff will address the single-audit compliance finding and continue monthly interim reporting to the court.
