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Dillon finance director presents 2025 audit showing $5.5 million net position gain; auditors issue clean opinion
Summary
Interim finance director Heather Prezella told the Dillon Mayor and Council the town received an unmodified opinion on its 2025 financial statements, with net position up $5.5 million and an unrestricted general fund balance of $5.3 million. Council asked for clarifying notes on the capital improvement and marina accounting.
Heather Prezella, the town's interim finance director, told the Mayor and Council that the Town of Dillon's 2025 audited financial statements received an unmodified (clean) opinion and that the town's net position increased by $5,500,000 for the year. "The 2025 financial statements are fairly presented in all material aspects in accordance with generally accepted accounting principles," Prezella said during the work session presentation.
Prezella walked council through the management discussion and analysis and the financial statements, highlighting that governmental activities increased by about $4.2 million and business‑type (water and sewer) activities increased by about $1.3 million. She said the town corrected a capital improvement fund balance entry on page 8 to $455,000 (it had been reported as zero initially) and pointed council to detailed debt schedules, notes, and required supplemental information elsewhere in the 58‑page report. "Most of the adjustments are related to depreciation," she said, adding that the adjusting journal entries are included in the audit package.
Council members pressed for small clarifications. One council member asked for a note reconciling the capital fund presentation with the finance director's monthly finance report; Prezella said she had already checked May numbers and that the audit and finance reports tie out but agreed to add clarifying language. The council also asked whether marina and concert revenues were recorded consistently; Prezella confirmed the marina was moved into the general fund in 2023 while concerts are recorded under general government rather than culture and recreation. "Culture and rec includes the marina, recreation and parks; general government includes marketing and events," she said.
Prezella noted the housing fund's audited balance before a separate agenda appropriation and highlighted dates and filing obligations: the town must submit the audit to DOLA by July 31 and to the Municipal Securities Rulemaking Board for bond compliance. Jim Hinkle, the town's auditor, is scheduled to present the full financial statements at the regular council meeting.
The council did not take formal action at the work session; staff will finalize editorial edits and include the audit materials and required auditor communication letter for the regular meeting packet.
