Legislative Audit Committee Hearing

Wednesday, February 11, 2026·1h 28m·▶ Watch / Listen

The Colorado Legislative Audit Committee released the state's Fiscal Year 2025 Statewide Single Audit and heard the Annual Comprehensive Financial Report, with members pressing the Office of the State Controller on a recurring material weakness finding — flagged for at least five years — covering late financial reporting, a payroll error affecting all state employees, and IT control deficiencies, while no enforcement mechanism beyond committee notification was identified. The committee also received the required annual report on the Enterprise Zone Program.

Key Actions

·Statewide Single Audit – FY Ended June 30, 2025No Vote

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Controversies

Absence of enforcement mechanism for OSC non-compliance with financial reporting deadlines

Representative Just Johnson pressed Deputy State Auditor Marissa Edwards on whether non-compliance with statutory financial reporting timelines results in lost funds or other consequences, and whether adding 'teeth' to the statute had ever been discussed. Edwards stated there are no additional state-level consequences beyond the committee being notified and that she is not aware of any legislation enacted on this. Johnson expressed frustration: 'Has it ever been discussed... to add any kind of teeth or is it just coming to audit committee? We hear it and then it's. We hope they meet the next deadline.'

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Notable Quotes

“Our fiscal year 2025 statewide audit reviewed about $65.9 billion in state assets, $56.3 billion in state expenses, and $20.8 billion in federal expenditures.”
Marissa Edwards, Deputy State Auditor — Edwards was describing the overall scope of the Fiscal Year 2025 Statewide Single Audit at the opening of her presentation to the committee.

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Votes

Motion to release the State of Colorado Statewide Single Audit, Fiscal Year Ended June 30, 2025No Vote

Motion to release reports released without a hearing (Colorado Department of Local Affairs Financial Data Schedule, Fiscal Year 2025)No Vote

Motion to approve minutes from January 28, 2026Passed

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TranscriptPreview

Good morning, Senators and Representatives. Bacon. Here. Brooks. Present. Johnson. Here. Pelton. Here. Wiseman. Good morning, Wilford. Excused. Madam Vice Chair. Present. Madam Chair. Present. Madam Chair. You have a quorum. Thank you, Ms. Watson. To begin with, I would really just want to recognize Senator Michaelson Janay for her time on the Legislative Audit Committee. Eight years is a long time. She has served on this committee from January 2018 to February 2026. And Madam Vice Chair, we are very sad to see you go, but we are wishing you the best in your next endeavor. So thank you. Thank you for your service members. May I have a motion to release the state of Colorado statewide single audit, Fiscal year ended June 30, 2025. So. Moved. Second. That was moved by the Vice Chair. Seconded by Senator Pelton R. Any opposed? All right. The audit is now released. Ms. Edwards, would you please introduce yourself and staff? Yes. Thank you. Madam Chair. I'm Marissa Edwards, Deputy State Auditor. You have two reports in front of you. The first report is. The smaller report is the annual comprehensive Financial Report. This contains the state's financial statements and is prepared…

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