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Hector Balderas final

Morning Word: Overdue audits a problem

And the rest of New Mexico's news

May 9, 2013, 8:00 am
By Matthew Reichbach
Overdue audits are a problem for many governmental entities in New Mexico. Capitol Report New Mexico looks at dozens of governmental entities that are behind on completing audits. It is required by New Mexico law that audits are performed annually -- but there is no penalty to not doing so.

Gov. Susana Martinez issued an executive order saying that entities that don't complete audits on time will not be eligible for capital outlay -- but more drastic measures could be needed.

Balderas says that his hands are tied when it comes to late audits. From an August article in Albuquerque Business First:
"If governments choose not to follow state law” and submit audits, “I don’t have the ability to fire management or file anything, we're an accounting office,” Balderas told members of the state Legislature’s New Mexico Finance Authority Oversight Committee.
Something to keep an eye on.

On to the Word:

 

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