Archuleta School District (ASD) received its 2025 audit with no extension required.
The audit was presented to the Board of Education during its regular meeting on Tuesday, Dec. 9, by Jessica Bogner, whose firm has performed ASD’s audits for the past few years.
“This is the first time also, since we started to do the district’s audit, that we did not need an audit extension,” Bogner said, mentioning that she has presented audits to the BoE as late as February or April in prior years.
“So, the fact that we are done in December … prior to 12/31, is also another accomplishment that is so fun to be a part of,” Bogner added.
ASD Finance Director Eric Burt commended the ASD Finance Department on its work with this year’s audit, noting, “It’s been a team effort.”
Bogner also informed the BoE that the district received an unmodified opinion on its 2025 audit report.
“This is the type of opinion that you want,” Bogner added, explaining that the opinion comes with a level of “reasonable assurance” which is “the highest level of assurance you can get,” but that it is not an absolute guarantee.
Bogner noted it is important for the district to have good internal controls to make sure that no transaction is done by one person from start to finish.
Bogner also explained that an absolute guarantee is not possible, “because we don’t test 100 percent of transactions that flow through the district,” but that a risk determination is done by speaking with staff, reading through meeting minutes and assessing internal controls.
“You guys do have good controls,” Bogner said, explaining that includes segregation of duties and performing double-checks.
Bogner reviewed the auditor’s summary results, which show that there were no weaknesses or deficiencies identified with the district’s internal control over major programs associated with federal award funds.
“And then we have a bunch of no’s, this is always what you want,” Bogner said, explaining the “no’s” indicate an unmodified opinion. “This is the first time since being your auditor that we are all in the right column, so I’m super happy about that.”
Bogner explained that her firm tested the district’s food service program and that an unmodified opinion was issued on compliance for the district’s major programs.
She noted that in 2024 ASD had a finding, which has since been corrected.
“We did have a finding last year and that has been corrected, so, again, I’m super excited, “ Bogner said.
Bogner expressed that she is always happy to see entities continually progress and get better, “and make sure that the board is receiving accurate financial information throughout the year.”
BoE president Bob Lynch commented that Burt’s work with the audit has been “commendable,” noting this is the first time in “quite some time” the district received no findings in its audit.
Bogner also noted that no difficulties were encountered in performing the audit.
“We encountered no significant difficulties; everybody’s so easy to work with when we come on-site,” Bogner said.
Lynch added that the he is “very appreciative” of the Finance Department’s work and “the very sound financial position the district is in at this time.”
2025 financial highlights
According to the audit document, the district recorded revenues of $24,097,748 for the fiscal year 2025, which is noted as a .8 percent decrease, or $201,289 less from the prior year.
“While local tax revenues increased by 5.2%, the grants fund revenue decreased by 27% due to the end of the Covid-era Federal grants, which was expected,” the report states.
It also notes that expenditures in the fiscal year 2025 were $23,547,380, which is noted as a 2.3 percent decrease, or $551,079 less than fiscal year 2024.
Additionally, the report notes that the net position of the district increased by $180,975.
The fund balance as of June 30 for all government funds rose to $11,222,930, “due to a combined surplus of $550,368,” the report states.
The district’s total assets decreased by $312,932 compared to 2024 and is listed at $31,566,549 for 2025.
According to the report, 66.3 percent of the district’s revenues come through property taxes.
When reviewing the report, Bogner explained that if the district operated as a business, it would have operated at a deficit of $19.9 million.
“The district needs property taxes and state equalization to continue,” she said.
Total revenues for property tax funds are listed at $15.8 million and total revenues from state equalization funds are listed at $2.4 million.
Bogner explained that with those revenues included, the district received $20.1 million in total general revenues, and increased its net position by $180,000.
Pagosa Peak Open School audit
Bogner presented Pagosa Peak Open School’s (PPOS’s) audit to its board of directors on Nov. 19, informing the board that the school — a charter school authorized by ASD — received an unmodified opinion.
“This is the type of opinion you want,” she said, explaining that it provides reasonable assurance, which is the highest assurance you can get since not everything is checked during an audit.
She noted that is why internal controls are important.
After walking through portions of the audit document with the board, she added the audit went great.
2025 financial highlights
According to the audit document, “The year ended June 30, 2025 is the eighth year of operations for PPOS. As of June 30, 2025, net position increased by $286,842 to $1,335,006. This balance includes the result of the implementation of regulations under the Governmental Accounting Standards Board Statement (GASB) Numbers 68 and 75.”
It further notes, “The operations of the School are funded primarily by tax revenue received under the Colorado School Finance Act in Per Pupil Revenue. Such revenue for the year was $1,293,461. At the close of the fiscal year, Pagosa Peak Open School’s governmental funds reported an ending fund balance of $535,591, an increase of $72,417 from the prior year.”
clayton@pagosasun.com
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