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Colfax County auditors issue clean FY24 opinion; commission adopts audit findings and management responses
Summary
Auditors gave Colfax County an unmodified (clean) opinion on FY2024 financial statements and the single audit but reported multiple findings; the commission formally recognized the findings and management responses by approving resolution 2026-23.
Colfax County commissioners heard a presentation of the FY2024 audit and approved a resolution recognizing the audit findings and management responses.
An auditor presenting the report said the firm issued an "unmodified opinion" on the county's financial statements and on the single-audit, meaning the statements were fairly presented in accordance with auditing standards. The auditor added that the firm must still report several findings required under New Mexico's audit rules, and described the most significant items: a prior-period adjustment for capital assets and leases (including duplicate listings that were corrected), incomplete PERA exemption forms, missing documentation for a portion of P-card and gas-card transactions and some journal entries, five funds that were over budget (a statutory violation), and a late submission of the audit to the state auditors, which itself generated a finding.
"We issued an unmodified opinion," the auditor said, noting that while the financial statements are clean, the state audit rules require findings to be reported down to more granular items than general auditing standards.
The commission moved to adopt resolution 2026-23, which formally acknowledges the audit findings and the county's management responses as required by the New Mexico Department of Finance and Administration. The motion passed on a roll call with affirmative votes recorded for Commissioner Kern, Commissioner Trujillo and Chairman Tatum. The minutes and the resolution will be forwarded to DFA per statutory process.
Why it matters: the audit confirms the county's financial statements are materially correct, while the findings identify internal-control and compliance issues managers must address to align with state rules. County staff said some documentation gaps were reduced as accounting staff located files during the audit exit process, and staff committed to follow-up work on capital-asset restatements and budget monitoring to avoid future findings.
What's next: the commission and staff will track corrective actions identified in the management responses and proceed with FY2025 audit requests and a March 31 reconciliation of grant accounts to reduce the risk of future audit exceptions.
