Grand Junction council accepts city auditor’s report, hears no objections

The Grand Junction City Council voted unanimously to accept the city’s independent auditor’s report and financial statements for the year ended Dec. 31, 2024.

Auditors gave a virtual presentation to the council on June 18, describing the audit procedures, financial highlights and recent accounting-policy changes. Greg Ingalls, the audit manager on the engagement, told the council the audit was conducted in accordance with United States generally accepted auditing standards and government auditing standards and that no corrected or uncorrected misstatements were identified.

The auditors’ presentation summarized government-wide net position, fund balances, and a year-over-year increase in combined net position of about $46 million. Ingalls highlighted that the city reported about $984 million in capital assets and roughly $59 million in unrestricted net position. He also noted implementation of GASB Statement No. 101 related to compensated absences, saying the city now recognizes earned health leave as part of the liability, which affects timing of expense recognition.

City staff and auditors said expenditures were within budget on the budget-to-actual schedules, and that audit field work included on-site testing and review of federal award schedules. The audit is pending issuance of a final opinion upon acceptance of the draft financial statements.

Council member Wynne moved to accept the auditor’s report and financial statements; the motion passed 6-0. The council did not ask follow-up questions during the meeting.

The council’s acceptance allows staff to finalize the audit opinion and move forward with public distribution of the financial statements. The auditors noted several GASB pronouncements that will be effective for the city’s 2026 fiscal year and offered to provide additional detail on request.