The State of Colorado released its annual audit of Colorado PERA’s financial reporting and internal controls, finding no issues that needed attention.
The State presented those findings at a meeting of the Legislative Audit Committee on Monday, Aug. 7. The hearing included presentations from the Office of the State Auditor, the state’s outside auditor, Colorado PERA, and PERA’s actuarial consultants.
Results of outside audit
The State of Colorado hires an outside auditor to conduct the audit of PERA each year. Since 2015, CliftonLarsonAllen has done that work, examining PERA’s financial statements — including the Annual Comprehensive Financial Report — for the year ended Dec. 31, 2022, as well as PERA’s compliance and internal controls.
The auditors gave PERA’s annual report a clean audit with no significant issues or recommendations. In addition, the auditors found no outstanding recommendations from the previous year’s audit.
The audit report is available online here.
PERA’s actuarial consultant, The Segal Group, also presented highlights from the annual Signal Light report, which is an analysis intended to help assess the plan’s funding progress and provide a format for communicating this information using a color-coding system similar to a traffic signal. That report is available online here.
PERA will continue to meet with various legislative oversight committees throughout the summer and fall. Click here for more on what’s ahead at the Capitol.