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Finance staff: clean audit, but numerous budget adjustments required to align audited cash
Summary
Las Cruces Public Schools reported a clean (unmodified) audit opinion for FY25 and presented multiple BARs to align budgets to audited cash and modified‑accrual reporting; the subcommittee unanimously forwarded BAR recommendations to the full board as a consent item.
The finance subcommittee heard that the district received an unmodified (clean) audit opinion for fiscal year 2025 with zero audit findings after an 11‑month audit process.
Executive Director of Finance Miss Zuniga explained the packet includes many budget adjustment requests (BARs) that arise when the district converts PED-required cash‑basis amounts to modified‑accrual audited financials. She said the BARs include increases, decreases, transfers and maintenance bars across operational, special revenue, federal, state/local and capital/debt service funds. Examples included a $496,000 operational reduction tied to audited adjustments and a $1.1 million midyear operational increase tied to calendar adjustments.
Zuniga told the committee most of the apparent available cash is already encumbered for salaries and benefits and that the district is performing end‑of‑year closeout work (special AP runs) so school budgets are not adversely affected by roll‑over encumbrances. She said some federal grants and Head Start encumbrances have specific liquidation periods and the district is working with PED on outstanding IFR questions.
Chair Jeremy Frank asked about a $2.5 million increase within debt service; Zuniga explained that a $6 million property tax deposit received in June 2025 exceeded estimates and that the excess rolled into the beginning fund balance for debt service, producing the adjustment.
The subcommittee moved to forward the BARs to the full board on the consent agenda; the motion carried on a recorded poll.
