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Auditor gives Manitou Springs a clean opinion on 2025 financials; council approves
Summary
Henkel & Company reported an unmodified (clean) audit opinion for the year ended Dec. 31, 2025, finding no significant deficiencies or material weaknesses; council accepted the audited financial statements unanimously and thanked retiring finance director Becca Davis for her service.
City auditors told the Manitou Springs City Council on July 21 that the 2025 financial statements received an unmodified (clean) opinion and that auditors found no significant deficiencies or material weaknesses in internal controls.
Jim Henkel of Henkel and Company CPAs said the audit work included tests of internal control, transaction detail testing and analytical review. "Based upon our analysis and all of our test work, we did not find any significant deficiencies or material weaknesses in the internal controls," Henkel said, adding that auditors had no disagreements with management and that closing adjustments were limited to accrual conversions.
Henkel also noted the city did not meet the federal single-audit threshold for 2025 because federal award expenditures were under $1,000,000. "You did not spend more than $1,000,000 in federal award expenditures, so you are not required to have what we call a single audit," he said.
Council praised Finance Director Becca Davis, who announced her upcoming retirement; colleagues thanked her for more than two decades of service and for delivering the audit on time. Council then moved to approve the audited 2025 financial statements and voted unanimously to accept the audit.
What happens next: The audit will be filed with the state auditor's office by the July 31 deadline; Davis plans a brief contract role supporting the city after retirement and the council will mark her retirement with a public reception.
