FY 2018 Northern New Mexico College Audit Reveals Significant Improvement
ESPANOLA — The New Mexico Office of the State Auditor, Thursday, Jan. 17, released Northern New Mexico College’s (NNMC) Fiscal Year (FY) 2018 audit, which contained a total of 18 findings.
This marks a 63 percent reduction in overall findings from its FY 2017 audit, which contained a total of 48 findings.
NNMC had six findings that were deemed to be Material Weaknesses, 12 fewer than the prior fiscal year. Regarding findings labeled Significant Deficiency, the College had four for FY 2018, a reduction from 13 received in FY 2017.
While the College did receive a Disclaimer of Opinion on its financial statements, it was able to receive an Unmodified Opinion (i.e. the best opinion) on the fair presentation of financial statements for the NNMC Foundation.
Over the last 18 months, the College has focused on strengthening its internal controls, recruiting competent staff, and utilizing existing staff to their fullest abilities, as well as leveraging external resources to improve its financial position and function.
President Rick Bailey was quick to commend the college’s financial management team, many of whom were brought new to the College over the course of his two-year administration, including the Vice President for Finance and Administration, Comptroller, Compliance Officer and Human Resources Director.
“I am incredibly proud of our entire team,” Bailey said. “While we certainly still have much more to do, the remarkable improvement over the last fiscal year shows that our commitment to process improvement is paying off. Our sincere thanks goes to our Vice President for Finance and Administration Ricky Bejarano and our entire staff for their commitment and selfless service. We look forward to continuing our positive trajectory.”
Ricky Bejarano, CPA, CGMA, has provided the leadership to create a strong professional staff and establish sound business practices. Bejarano was awarded the “Outstanding Member in Government” for calendar year 2018 by the New Mexico Society of Certified Public Accountants.
Northern New Mexico College is a minority-serving institution, offering bachelor, associate and certificate programs. The College primarily serves rural communities within a 40-mile radius of its campus in Española, within one of the most underserved regions in the state.