Officials at the New Mexico Finance Authority can finally breathe a sign of relief — and so can taxpayers.
On Wednesday (March 27), the Wall Street ratings firm Moody’s announced it was no longer keeping the state’s bond rating under review in the wake of a scandal that broke last summer that saw an NMFA employee file [...]
Even though a crucial report from the State Auditor’s Office is still pending, the New Mexico Finance Authority appears to be regaining its financial footing after a fake audit plunged the NMFA into a scandal that led to criminal charges, the dismissal of its chief executive officer and jeopardized the state’s bond ratings.
“I do feel [...]
In little less than a month, New Mexico taxpayers as well as financial experts will get their first look at what the heck happened at the New Mexico Finance Authority (NMFA) when a fraudulent audit plunged the agency into one of the biggest financial controversies in state history.
State auditor Hector Balderas told members of the [...]
Rick May is gone as the chief executive officer at the New Mexico Finance Authority (NMFA) but with a possible lawsuit in the offing, his dealings with the quasi-governmental entity may be far from over.
The NMFA Board on Friday (Sept. 28) decided to terminate May’s employment with William Fulginiti being the only member of the [...]
NMFA Board meeting, 9/10/12
For now, the New Mexico Finance Authority (NMFA) still has two chief executive officers — one who is working at the agency rocked by a fraudulent audit and another who isn’t. But both are getting paid.
On Monday (Sept. 10), the NMFA board put off deciding what to with Rick May, the CEO [...]
State Sen. Tim Keller (D-Albuquerque) wants to apply similar changes to the board of directors at the troubled New Mexico Finance Authority (NMFA) that the legislature imposed on the board of the State Investment Council (SIC), which had its share of problems during the administration of then-Gov. Bill Richardson.
“As I look into it there are [...]
Unraveling the mess at the New Mexico Finance Authority is going to take time but the new interim boss at the authority thinks the biggest issue surrounding the fallout from a fraudulent audit — keeping Wall Street ratings agencies from downgrading the state’s bond ratings — can be avoided.
“I think the basic financial structure that’s [...]
The State Board of Finance, in a 6-0 vote, approved a 25-year lease with the owners of the Downs at Albuquerque to operate a racino and construct an estimated $20 million casino on the grounds of the New Mexico State Fair in a deal packed with political intrigue as well as opposition from some neighborhood [...]