Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Castle Rock gets clean audit despite restatement; auditor flags one material weakness
Summary
Eide Bailly presented Castle Rock’s 2025 audited financial statements and issued a clean, unmodified opinion; auditors noted a prior-year restatement and identified one material weakness tied to that restatement and single-audit reporting.
Janine Hathcock of Eide Bailly presented the town's 2025 audited financial statements and said the firm issued a "clean, unmodified opinion." She told the council the opinion reflects that auditors met professional standards and were independent.
Hathcock noted an emphasis-of-matter paragraph that describes restatements correcting prior-year errors that management discovered and corrected during the current audit. She also identified one material weakness related to those restatements and to documentation around single-audit reporting for a pass-through ARPA grant to Douglas County.
Town staff (Trish, speaker 14) and councilmembers praised the audit team and the finance staff for managing a complex first-year audit. Trish urged councilmembers to use the 18-page Popular Annual Financial Report if they or residents want a concise summary of the town's financial position.
No disagreement between auditors and management was reported; the auditor noted corrected and uncorrected misstatements and said the restatement did not change the audit opinion. The town manager said the results provide confidence in the town’s monthly and departmental reporting.
The audited statements and supplemental materials will be posted online as part of the town’s financial transparency practices. Council members had no formal motion attached to the presentation and accepted the report.
