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Moriarty‑Edgewood board accepts clean FY23–24 audit; state reporting items noted
Summary
The board approved the district’s FY23–24 audit after an auditor reported a clean, unmodified opinion on the financial statements and no federal‑program findings; auditors noted three state‑level reporting matters (a misclassified food‑service amount, two pre‑approval purchases and two payroll leave recording errors).
The Moriarty‑Edgewood School District Board voted Feb. 18 to accept the district’s FY23–24 audit after an auditor summarized findings and issued an unmodified opinion on the financial statements.
“We believe that your financial statements are presented fairly in all material respects,” the district’s auditor said during the presentation. The firm also issued a clean government‑auditing standards opinion and reported no material weaknesses in internal control and no findings in the federal‑program compliance review.
The auditor highlighted several fiscal statements and footnote items at the board meeting, including the district’s capital assets and leased‑asset reporting. Auditor commentary noted that the district records $63,000,000 in net capital assets and recorded right‑of‑use leased assets and subscription‑based IT arrangements disclosed in the notes.
While the audit found the financial statements to be clean, the auditor identified three non‑federal findings required by New Mexico reporting rules: a $51,345 miscoding between two food‑service funds created by the state; two purchase orders issued prior to formal approval (totaling $148.00); and two payroll leave‑recording errors that resulted in a $300 discrepancy. The audit report also detailed long‑term liabilities, pension and OPEB schedules and the district’s reconciliation of capital assets to net investment in capital assets.
Board members thanked district finance staff for their work and moved to approve the audit. The superintendent recommended approval; the board approved the report by voice vote with no recorded opposition. The auditor told trustees the federal award testing covered roughly $3.68 million of the district’s federal expenditures and that, overall, the district was considered a low‑risk auditee for federal testing purposes.
The board’s action means the FY23–24 audit will be filed as presented. Trustees noted they will discuss any follow‑up on the identified state reporting matters with district staff in coming weeks.
What happens next: the board approved the audit and will include the audit approval on the district record; district staff said they will work with auditors to correct the state fund coding and address the procedural items noted in the report.
