Indigo receives clean 2024 external audit; no reportable findings, one audit adjustment noted

The board received Indigo’s 2024 external financial audit report on Oct. 16. Brian Atkinson, director of governance and audit, introduced the external auditors and presented the results.

Emily Balbach, representing the auditing firm identified in the presentation, said the auditors issued clean (unmodified) opinions on the financial statements and reported no reportable findings under Government Auditing Standards or Uniform Guidance. She said the auditors noted one audit adjustment that was recorded — an accounts‑payable accrual of approximately $1,400,000 — and one proposed adjustment that management did not record because it was not material to the statements.

Balbach described the single audit of federal expenditures: Indigo’s total federal expenditures were near $45.5 million for 2024 and the auditors tested roughly $44.7 million, which covered about 98% of the schedule of federal expenditures. The transit services program cluster exceeded the audit threshold and was audited this year; auditors reported no compliance findings for the audited federal programs and classified Indigo as a low‑risk auditee.

Atkinson and auditors said the one audit adjustment resulted in a control deficiency (the lowest level of internal control finding) but was not considered a significant deficiency or material weakness. Management representation letters and required communications were provided as part of the audit deliverables.

The board voted to receive the 2024 annual financial external audit report by roll call.