Sections 12-6-1 through 12-6-14 [12-6-15] NMSA 1978 may be cited as the “Audit Act.” History: 1953 Comp., § 4-31-1, enacted by Laws 1969, ch. 68, § 1. ANNOTATIONS Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2019, ch. 3, § 1 enacted a new […]
A. The governing authority of each agency shall, at the end of each fiscal year, conduct a physical inventory of movable chattels and equipment costing more than five thousand dollars ($5,000) and under the control of the governing authority. This inventory shall include all movable chattels and equipment procured through the capital program fund under […]
A. Oaths may be administered by the state auditor when necessary for an audit or examination. B. When necessary for an audit or examination, the state auditor may apply to the district court of Santa Fe county for issuance of a subpoena to compel the attendance of witnesses and the production of books and records. […]
The state auditor shall promulgate reasonable regulations necessary to carry out the duties of his office, including regulations required for conducting audits in accordance with generally accepted auditing standards. The regulations become effective upon filing in accordance with the State Rules Act [Chapter 14, Article 4 NMSA 1978]. History: 1953 Comp., § 4-31-12, enacted by […]
A. There is created in the state treasury the “audit fund” into which the state auditor shall deposit all fees and costs received from agencies audited by him. B. Payments for salaries and expenses of the state auditor shall be made from the audit fund, and the fund shall not revert at the end of […]
A. The state auditor shall notify each agency designated for audit by an independent auditor, and the agency shall enter into a contract with an independent auditor of its choice in accordance with procedures prescribed by rules of the state auditor; provided, however, that a state-chartered charter school subject to oversight by the public education […]
Within six months after the report is due to the state auditor, each of the educational retirement board, the office of the state treasurer, the public employees retirement association and the state investment council shall present the agency’s current annual financial audit report to the state board of finance for review. History: Laws 2019, ch. […]
As used in the Audit Act: A. “agency” means: (1) any department, institution, board, bureau, court, commission, district or committee of the government of the state, including district courts, magistrate or metropolitan courts, district attorneys and charitable institutions for which appropriations are made by the legislature; (2) any political subdivision of the state, created under […]
A. Except as otherwise provided in Subsection B of this section, the financial affairs of every agency shall be thoroughly examined and audited each year by the state auditor, personnel of the state auditor’s office designated by the state auditor or independent auditors approved by the state auditor. The comprehensive annual financial report for the […]
The reasonable cost of all audits shall be borne by the agency audited, except that: A. a public housing authority other than a regional housing authority shall not bear the cost of an audit conducted solely at the request of its local primary government entity; and B. the administrative office of the courts shall bear […]
A. The state auditor shall cause a complete written report to be made of each annual or special audit and examination made. Each report shall set out in detail, in a separate section, any violation of law or good accounting practices found by the audit or examination. Each report of a state agency shall include […]
Immediately upon discovery of any violation of a criminal statute in connection with financial affairs, the state auditor shall report the violation to the proper prosecuting officer and furnish the officer with all data and information in his possession relative to the violation. An agency or independent auditor shall report a violation immediately to the […]
A. The state auditor shall notify the appropriate surety on the official bond whenever an audit discloses a shortage in the accounts of any agency. Failure to notify the surety, however, does not release the surety from any obligation under the bond. B. Sureties upon official bonds of agencies are not released from liability on […]
If restitution has not been made in thirty days from the receipt by an agency of a report of an audit reflecting a shortage of funds for which the agency is accountable under law, suit to enforce repayment or refund to the agency may be brought by the state auditor. History: 1953 Comp., § 4-31-8, […]
The state auditor may: A. require depositories of public money to furnish reconciliation sheets for the purpose of checking the deposits of public funds; B. inspect the books and records of any depository concerning public funds; and C. examine employees of a depository under oath concerning the correctness of the reconciliation or any entry upon […]
