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Hayden Council accepts FY2025 audit; city reports increased unassigned fund balance
Summary
The city received an unmodified audit opinion for FY2025; the audit shows general fund assets rose from $13 million to $15 million and unassigned fund balance increased to about $14 million. Council accepted the audit and approved posting of fourth‑quarter financials.
Hayden — Independent auditors presented Hayden’s FY2025 annual audit and delivered an unmodified (clean) opinion on the city’s financial statements, which council accepted on May 12.
Tony (auditor, speaker 10) said Hayden’s total governmental assets increased to roughly $15 million in 2025 from $13 million a year earlier, with unassigned general‑fund balance of about $14 million (up from about $11.7 million). Total governmental revenues for 2025 were approximately $10.2 million and expenditures increased modestly, driven by professional fees, software purchases and wage increases in general government.
The auditor discussed notable special items and reimbursements related to the Ramsey Road capital project and sewer utility transactions; the state reimbursed $2.0 million to the city and the city reimbursed $1.76 million to another party as part of that arrangement. The audit included a restatement correcting a prior‑year treatment of developer contributions that should have been recorded as liabilities rather than revenue.
The council voted unanimously to accept the FY2025 audit and to authorize staff to post fourth‑quarter financial statements as required under Idaho law.
Why it matters: A clean audit provides assurance about the city’s financial reporting and shows an improved fund balance position that council will weigh as it continues budget and capital planning. Staff also said a comprehensive financial policy (including a reserve policy) will be presented May 28 to guide future decisions.
Quote: "We have issued an unmodified report… we feel that the financial statements are materially stated," the auditor said during the presentation.
