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Council accepts FY2025 audit with unmodified opinions; one procurement finding noted
Summary
Finance Director Cheryl Cates and an independent public accountant presented the FY2025 audit, which yielded unmodified opinions on financial statements and federal grant compliance; auditors flagged one procurement finding about aggregate purchases exceeding the state threshold without an RFP.
The Los Lunas Village Council on June 25 accepted the Fiscal Year 2025 audit after a presentation by Finance Director Cheryl Cates and an independent public accountant identified in the record as Chris. The auditors reported the Village received unmodified opinions on its financial statements and on federal grant compliance testing.
The auditors said standard adjustments were necessary to convert state-required cash-basis records to Generally Accepted Accounting Principles (GAAP) but that those adjustments did not reflect deficiencies in the Village's reporting systems. They identified one procurement finding: cumulative purchases exceeded New Mexico's procurement threshold without a formal Request for Proposals process and advised staff to monitor aggregate expenditures to ensure compliance. Council members commended the finance team and approved Resolution 26-09 to accept the audit.
