Government entities be warned: Fail to submit an audit to the state and say good-bye to some of that state money you want.
In Part 1 of our investigation into agencies, school districts, communities and other entities that haven’t turned in proper audits of taxpayer dollars they’ve received or spent, New Mexico Watchdog focused on the [...]

It looks like there was plenty of blame to go around at the New Mexico Finance Authority (NMFA) but at least there doesn’t appear to be any money missing.
That’s the upshot of a long-awaited report from the State Auditor’s Office released Friday (Dec. 14) in Santa Fe looking into how and why a faked audit [...]

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 [...]

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 ripple effects of a fraudulent audit at the New Mexico Finance Authority washed over the the agency’s chief executive officer on Thursday (Aug. 9th) when the NMFA board unanimously voted to put Rick May on administrative leave with pay.
“We felt we needed to change the direction of that organization immediately,” board chairwoman Nann Winter [...]

The NMFA controversy is now officially a criminal matter.
On Wednesday morning (Aug. 8th) officers with the state Securities Division arrested the chief operating officer, John T. Duff, of the New Mexico Finance Authority and a former controller at the authority, Greg Campbell, accusing them of submitting a forged audit, misrepresenting financial statements and trying to [...]

Given the uncertainty caused by the fraudulent internal audit at the New Mexico Finance Authority (NMFA), there’s been plenty of anxiety about whether Wall Street ratings agencies such as Moody’s and Standard & Poor’s might downgrade the state’s credit ratings.
New Mexico received a measure of good news late Thursday (July 27) when Moody’s released a [...]

The New Mexico Finance Authority moved forward in its investigations into a bogus internal audit and even approved a number of bond projects in a handful of communities Thursday (July 26) but there’s still a big, $27.2 million project in Albuquerque in limbo.
Board members for the NMFA, trying to recover its bearings after the fake [...]

He’s been called a rogue employee who’s supposedly responsible for turning in a fraudulent audit that plunged the New Mexico Finance Authority into a dire fiscal crisis and possibly leading to a downgrade of state bonds that could cost millions.
But Greg Campbell, a former controller at the NMFA says, “I put those papers together with [...]

An emergency meeting of the board at the New Mexico Finance Authority (NMFA) on Monday (July 16) didn’t provide many answers to: 1) how far off the numbers are after the agency ended up submitting a fraudulent audit to the State Auditor’s Office, 2) if the bogus document was solely the work of one rogue [...]