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Council hears 2025 financial audit; presenter reports declines in multiple funds
Summary
The council heard the 2025 financial audit presented by Marla Coates, who said auditors issued an unmodified (clean) opinion. Coates reported a $990,000 drop in the general fund and about $115,000 in other governmental funds; the transcript includes no recorded vote on acceptance.
The council heard a presentation of the town’s 2025 financial audit at its July 14 meeting. Marla Coates, who identified herself as the owner of Carlos CPA Services, told the council auditors issued an unmodified (clean) opinion on the financial statements.
Why it matters: An unmodified opinion signals the auditors believe the financial statements present the town’s finances fairly under applicable accounting standards. The presenter also reported material decreases in several fund balances this year, figures that affect budgeting and reserves going forward.
Coates, the presenter, said the audit report’s management discussion and analysis (MD&A) offers a quick overview of the year and runs from pages 3–8 of the report. She told the council the formal financial statements begin on page 12 and are prepared on a full-accrual basis, which includes long-term assets and liabilities. "We gave an unmodified opinion, which is the clean opinion based on our test of our transactions," Coates said.
On specific fund changes, Coates reported that the general fund’s balance decreased by $990,000 and that the grouped other governmental funds decreased by just over $115,000 for the year. She also said business-type (enterprise) activities showed a decline of "just over 550,000," and discussed separately presented statements for each utility fund. Coates reviewed cash-flow statements for enterprise funds and described the public giving (fiduciary) fund the town holds in trust.
The agenda item was listed as "Discussion and action to accept the 2025 audit from Colorado CPA Services," but the submitted transcript does not record a formal motion, second, or vote on acceptance. The audit presenter introduced herself in the record as Marla Coates of Carlos CPA Services; the agenda reference to "Colorado CPA Services" appears in the meeting record and the two firm names are inconsistent in the transcript.
The meeting proceeded after the presentation; the transcript does not show additional formal action on the audit in the provided excerpt.
Next steps: The transcript does not record whether the council formally accepted the audit or directed staff to take follow-up steps. Any official acceptance, approvals or staff follow-up are not recorded in the provided transcript and therefore not reported here.
