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Commission accepts FY2024 audited financial report after accelerated audit turnaround
Summary
Bernalillo County accepted the FY2024 Annual Comprehensive Financial Report and single audit after contracting Moss Adams LLP mid-cycle; auditors issued an unmodified opinion and identified findings for management responses.
The Board of County Commissioners accepted Bernalillo County’s Annual Comprehensive Financial Report (ACFAR) and single audit for the fiscal year ended June 30, 2024, following a presentation from the county’s accounting staff and contracted external auditors Moss Adams LLP.
Accounting and Budget Director Jackie Sanchez introduced the audit and said Moss Adams had been contracted after a change in the originally contracted auditor. Sanchez noted the audit and single audit were completed on an accelerated timeline to meet state deadlines and that the Office of the State Auditor had released the report.
Moss Adams Senior Manager Kevin Jankowski told the commission the audit engagement began in late March 2025 after the firm was contracted and that Moss Adams completed audit work in roughly six weeks, mobilizing a team of 16 auditors. He said the firm issued an unmodified opinion on the county’s financial statements and submitted required reports, including the single-audit report for federal programs and the HUD electronic filing, all before the May 31 deadlines.
Auditors said they focused work on revenue recognition, major management estimates (legal contingencies, leases, subscription IT arrangements, receivables collectability and pension/OPEB actuarial valuations) and IT systems relevant to financial reporting. The single-audit work included testing of major federal programs (COVID-related ARPA funds and Emergency Rental Assistance Program).
Kevin Jankowski said, “We issued what’s called an unmodified opinion. We had no exceptions that we had to call out that prevented the county's financial statements from being presented accurately in accordance with GAAP.” He added that the audit team found findings and provided recommendations; management concurred and provided responses that are published in the ACFAR.
County legal counsel Brian Colon — a former New Mexico state auditor — complimented county leadership and staff for handling the auditor transition and the compressed timeline. County manager and commissioners thanked the audit committee and county finance staff for the work.
The motion to accept the ACFAR and single audit passed on a 5–0 roll-call vote. Staff said acceptance will make the report public record, allow submission to the Government Finance Officers Association for the Certificate of Achievement in Financial Reporting, and complete the state and federal filing requirements.
Ending: The county will track auditor recommendations included in page 216 of the ACFAR and will provide follow-up as staff implements the management responses.
