924 - Public Education Department FY2015 Vol 1 To 4 PDF

Sanjay Bhakta, CPA, CGFM, CFE, CGMA
Deputy State Auditor
Timothy M. Keller
State Auditor
State of New Mexico

OFFICE OF THE STATE AUDITOR
VIA EMAIL AND U.S. MAIL
March 15, 2016
Hanna Skandera
Secretary of Education
Public Education Department
300 Don Gaspar Avenue
Santa Fe, NM 87501
Re: FY2015 Public Education Department Audit
Dear Secretary Skandera:
On March 11, 2016, the Office of the State Auditor (OSA) released the Fiscal Year 2015 (FY15)
annual financial and compliance audit for the New Mexico Public Education Department (PED).
The report, which was completed by the public accounting firm Axiom, LLC, raises serious
concerns regarding financial practices at many state-chartered charter schools.
The number of state-chartered charter schools has grown substantially in recent years, from just
two in 2008 to 59 in 2015. While charter schools are run directly by their respective governing
bodies, PED plays a critical ongoing role in monitoring and supporting these schools and
ensuring financial accountability, including assistance from the Charter School Division and the
School Budget and Finance Analysis Bureau. Ultimately, as PED noted in the audit report, the
Department is responsible for providing regulatory oversight of the Charter Schools. (Vol. I,
Page 105, Note 1).
Of the 59 state-chartered charter schools included as PED component units in the report, six have
disclaimed opinions. This means the auditor concluded that the schools financial statements
are such that it is not possible to even form an opinion and that there may be material and
pervasive misstatements. It is deeply troubling that about 10 percent of state-chartered charter
schools have one of the worst audit opinions possible.
Additionally, the audit contains 195 findings across all the charter schools, including significant
deficiencies, material weaknesses, and material non-compliance regarding cash management and
accounting practices. Furthermore, the report found 15 schools where licensure or background
check documentation was lacking in personnel files. Other significant problems identified
include the inability to reconcile cash, weak internal controls, procurement violations,
overspending, lack of sound accounting practices, and payroll deficiencies. Many of these
findings were repeated from previous fiscal years and have continued to go unaddressed.
2540 Camino Edward Ortiz, Suite A, Santa Fe, New Mexico 87507
Phone (505) 476-3800 * Fax (505) 827-3512
www.osanm.org * 1-866-OSA-FRAUD
PED needs to improve financial and regulatory oversight of charter schools and provide
additional training and support to help address these shortcoming and to ensure compliance with
applicable state and federal laws, rules and regulations. Millions of dollars of funds are
potentially at risk due to the various issues highlighted in the report and schools are susceptible
to fraud, waste and abuse.
The OSA is evaluating whether additional actions may be required to ensure appropriate PED
oversight controls are in place. Therefore, the OSA requests that PED provide a corrective
action plan detailing the measures PED intends to take to increase oversight and provide
additional support in key areas, such as technical assistance, training, and other steps necessary
to develop and maintain adequate financial controls at charter schools. This plan should be
submitted to the OSA no later than April 15, 2016.
In addition to the issues related to charter schools, the audit also includes several concerning
findings specific to PED and its Division of Vocational Rehabilitation (DVR). For example, due
to material weaknesses in PEDs financial reporting processes, Severance Tax Bond Capital
Outlay expenditures were understated by over $21 million, Public School Capital Improvement
revenues were understated by about $101,000, and the Department over reverted $2.2 million to
the General Fund for teacher and school leader programs and support for training, preparation,
recruitment and retention.
DVR had a maintenance of effort deficit of $2.7 million for a U.S. Department of Education
vocational rehabilitation grant, which resulted in a reduction of the grant award by this amount in
federal fiscal year 2015. Furthermore, DVR audit testing revealed that about 10 percent of the
Individual Plans For Employment reviewed, which must be completed with 90 days of a
determination of eligibility, were not completed in a timely manner. This means eligible
individuals may not receive vocational rehabilitation benefits in a timely manner. The federal
government could also reduce funding for non-compliance with program requirements.
The issues identified in the audit report are not simply accounting technicalities. The failure to
address these shortcoming directly impacts our states ability to deliver quality educational and
vocational services to New Mexicans. Taking prompt corrective action will promote efficient
and effective operations of charter schools, safeguard public resources, and provide the support
necessary for schools to succeed.
Please do not hesitate to contact Deputy State Auditor Sanjay Bhakta, CPA, CGFM, CFE,
CGMA at (505) 476-3800 if you have any questions regarding this matter.
Respectfully,
Timothy M. Keller
State Auditor
cc:
Deputy Secretary Aguilar, Public Education Department
STATE OF NEW MEXICO

PUBLIC EDUCATION DEPARTMENT
Financial Statements
June 30, 2015
VOLUME I
ThisPagewasIntentionallyLeftBlank
STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

MASTER TABLE OF CONTENTS

VOLUME I

Table of Contents ............................................................................................................................... Vol. I 1
Official Roster ...................................................................................................................................... Vol. I 9
Independent Auditors Report ..................................................................................................... Vol. I 10
Managements Discussion and Analysis ................................................................................. Vol. I 15

BASIC FINANCIAL STATEMENTS

Government Wide Financial Statements

Statement of Net Position .............................................................................................................. Vol. I 46

Statement of Activities .................................................................................................................... Vol. I 48

Fund Financial Statements

Balance Sheets Governmental Funds ................................................................................... Vol. I 49

Reconciliation of the Balance Sheets Governmental Funds
to the Statement of Net Position ............................................................................................... Vol. I 51

Statement of Revenues, Expenditures, and Changes
in Fund Balances (Deficit) Governmental Funds ........................................................... Vol. I 52

Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances (Deficit) to Statement of Activities ................................... Vol. I 54

Statements of Revenues and Expenditures, and Changes in Fund Balances
(Deficit) Budget to Actual Statements Modified Accrual Basis:
PED General Fund 05700 ................................................................................................ Vol. I 55
DVR General Fund 50000 ................................................................................................ Vol. I 56
Disability Determination Services 50100 ................................................................ Vol. I 57
Federal Department of Education Flowthrough 67300 ..................................... Vol. I 58
Special Projects 79000 ..................................................................................................... Vol. I 59
Public School Support Flowthrough 85800 ............................................................ Vol. I 60

Statement of Fiduciary Assets and Liabilities Agency Fund ........................................ Vol. I 61

Statement of Fiduciary Net Position ......................................................................................... Vol. I 62

Statement of Changes in Fiduciary Net Position .................................................................. Vol. I 63

Combining Statements of Net Position Discretely Presented Component
Units .................................................................................................................................................... Vol. I 64
Vol. I - 1


Combining Statements of Activities Discretely Presented Component Units ...... Vol. I 78

Combining Statements of Assets and Liabilities Agency Funds
Discretely Presented Component Units ................................................................................. Vol. I 92

Notes to the Financial Statements .............................................................................................. Vol. I 104

SUPPLEMENTARY INFORMATION

Budget to Actual Statements Major Capital Projects Fund Modified
Accrual Basis STB Capital Outlay 89200 ........................................................................... Vol. I 149

NONMAJOR GOVERNMENTAL FUNDS

Combining Balance Sheets NonMajor Governmental Funds ..................................... Vol. I 150

Combining Statements of Revenues, Expenditures, and Changes
in Fund Balances (Deficit) Non Major Governmental Funds ..................................... Vol. I 158

Budget to Actual Statements NonMajor Special Revenue Funds Modified
Accrual Basis:
Schools in Need of Improvement 00500 .................................................................. Vol. I 166
K3 Plus 11420 ..................................................................................................................... Vol. I 167
Ed Tech Deficiency Correction 20160 ....................................................................... Vol. I 168
School Transportation Training 20550 .................................................................... Vol. I 169
Independent Living Services 20570 ........................................................................... Vol. I 170
Private Grants 30800 ........................................................................................................ Vol. I 171
Family Youth 33400 .......................................................................................................... Vol. I 172
Educator Certification 39700 ........................................................................................ Vol. I 173
PreKindergarten 51300 ................................................................................................. Vol. I 174
Professional Development 56200 ............................................................................... Vol. I 175
Incentive for School Improvement 56800 ............................................................... Vol. I 176
Indian Education Act 63300........................................................................................... Vol. I 177
Kindergarten Plus 63900 ................................................................................................ Vol. I 178
Instructional Materials Adoption 66000 .................................................................. Vol. I 179
Education Technology 66200 ........................................................................................ Vol. I 180
Federal Food Services 67200 ........................................................................................ Vol. I 181
Vocational Education Flowthrough 67400 .............................................................. Vol. I 182
Public Building Energy Efficiency Act 72500 ......................................................... Vol. I 183
Federal Department of Education Admin 84400 .................................................. Vol. I 184
Instructional Materials Flowthrough 85600 .......................................................... Vol. I 185
Transportation Emergency 88900 .............................................................................. Vol. I 186
PED ARRA Fund 89000 .................................................................................................... Vol. I 187
Public School Capital Improvements 63400 ........................................................... Vol. I 188
Special Capital Outlay Severance Tax Bonds 2004 (81600) ............................ Vol. I 189
Vol. I - 2


Budget to Actual Statements NonMajor Special Revenue Funds Modified

Accrual Basis (Continued):

Special Capital OutlayGeneral Fund 81800 ........................................................... Vol. I 190
GF Capital Outlay 93100 .................................................................................................. Vol. I 191

COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
Statement of Net position Public Education Department Only ................................... Vol. I 192

Statement of Activities Public Education Department Only ......................................... Vol. I 193

Statement of Net Position Division of Vocation Rehabilitation Only ........................ Vol. I 194

Statement of Activities Division of Vocation Rehabilitation Only .............................. Vol. I 195

Combining Balance Sheets Governmental Funds
Division of Vocation Rehabilitation ......................................................................................... Vol. I 196

Reconciliation of Combining Balance Sheets Governmental Funds to
Statement of Net Position Division of Vocational Rehabilitation ............................. Vol. I 197

Combining Statements of Revenues, Expenditures and
Changes in Fund Balances (Deficit) Governmental Funds
Division of Vocation Rehabilitation ......................................................................................... Vol. I 198

Reconciliation of Combining Statements of Revenues, Expenditures
And Changes in Fund Balances (Deficit) to Statement of Activities
Division of Vocational Rehabilitation .................................................................................. Vol. I 199

AGENCY AND FIDUCIARY FUNDS
Statement of Changes in Assets and Liabilities
Agency Fund ...................................................................................................................................... Vol. I 200

Combining Statement of Fiduciary Net Position .................................................................. Vol. I 201

Combining Statement of Changes in Fiduciary Net Position Fiduciary Funds ...... Vol. I 202

Notes to Trust and Agency Funds .............................................................................................. Vol. I 203
OTHER SUPPLEMENTAL INFORMATION
Supplemental Schedule of Cash and Cash Equivalents ..................................................... Vol. I 204

Vol. I - 3


Joint Powers Agreements, Memoranda of Understanding

And InterGovernmental Agreements ................................................................................... Vol. I 205

Schedule of MultiYear Budgeted Special Capital Outlay Funds
Public School Capital Improvements 63400 ........................................................... Vol. I 212
Public School Capital Outlay 63500 ............................................................................ Vol. I 213
Special Capital Outlay General Fund 81800 ............................................................ Vol. I 218
STB Capital Outlay 89200 ............................................................................................... Vol. I 221
GF Capital Outlay 93100 .................................................................................................. Vol. I 222
OTHER INFORMATION
Schedule of Vendor Information for Purchases Exceeding $60,000 ................................. Vol. I 223

VOLUME II

Volume II Table of Contents.......................................................................................................... Vol. II 1

Schedule of Expenditures of Federal Awards ....................................................................... Vol. II 2

Notes to Schedule of Expenditures of Federal Awards ..................................................... Vol. II 5
COMPLIANCE

Independent Auditors Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ............................................................................................... Vol. II 24

Independent Auditors Report on Compliance for Each
Major Program and on Internal Control Over Compliance
Required by OMB Circular A133 ............................................................................................ Vol. II 28

Schedule of Findings and Questioned Costs .......................................................................... Vol. II 31

Summary Schedule of Prior Audit Findings ........................................................................... Vol. II 202

Exit Conference .................................................................................................................................. Vol. II 210

Vol. I - 4


VOLUME III

CHARTER SCHOOLS
Academy of Trades and Technology ......................................................................................... Vol. III 7 45

ACE Leadership High School ......................................................................................................... Vol. III 46 86

Albuquerque Institute for Mathematics & Science ............................................................. Vol. III 87 117

Albuquerque School of Excellence ............................................................................................. Vol. III 118 148

Albuquerque Sign Language Academy ..................................................................................... Vol. III 149 193

Aldo Leopold High School .............................................................................................................. Vol. III 194 226

Alma d' arte Charter High School ............................................................................................... Vol. III 227 254

VOLUME IV

CHARTER SCHOOLS

Amy Biehl Charter High School ................................................................................................... Vol. IV 7 46

Anthony Charter School .................................................................................................................. Vol. IV 47 76

ASK Academy ...................................................................................................................................... Vol. IV 77 117

Cesar Chavez Community School ............................................................................................... Vol. IV 118 156

Cien Aguas International School ................................................................................................. Vol. IV 157 198

Coral Community Charter .............................................................................................................. Vol. IV 199 228

Cottonwood Classical Preparatory School ............................................................................. Vol. IV 229 266
VOLUME V

CHARTER SCHOOLS

Creative Education Preparatory Institute #1 ........................................................................ Vol. V 7 39

Dream Din Charter School ........................................................................................................... Vol. V 40 59

Vol. I - 5


East Mountain High School ........................................................................................................... Vol. V 60 103

Estancia Valley Classical Academy ............................................................................................. Vol. V 104 141

Explore Academy ............................................................................................................................... Vol. V 142 164

Gilbert L. Sena Charter High School ........................................................................................... Vol. V 165 199

GREAT Academy ................................................................................................................................ Vol. V 200 230

VOLUME VI

CHARTER SCHOOLS

Health Leadership High School ................................................................................................... Vol. VI 7 40

Health Sciences Academy............................................................................................................... Vol. VI 41 64

Horizon Academy West .................................................................................................................. Vol. VI 65 102

International School at Mesa Del Sol ........................................................................................ Vol. VI 103 139

J. Paul Taylor Academy.................................................................................................................... Vol. VI 140 172

La Academia Dolores Huerta ........................................................................................................ Vol. VI 173 207

La Jicarita Community School ...................................................................................................... Vol. VI 208 240

VOLUME VII

CHARTER SCHOOLS

La Promesa Early Learning Center ............................................................................................ Vol. VI 7 57

La Resolana Leadership Academy .............................................................................................. Vol. VI 58 92

La Tierra Montessori School of the Arts and Sciences ...................................................... Vol. VI 93 134

MASTERS Program ........................................................................................................................... Vol. VI 135 163

McCurdy Charter School ................................................................................................................. Vol. VI 164 209

Media Arts Collaborative Charter School ................................................................................ Vol. VI 210 251

Mission Achievement and Success Charter School ............................................................. Vol. VI 252 285
Vol. I - 6


VOLUME VIII

CHARTER SCHOOLS

Montessori Elementary School .................................................................................................... Vol. VIII 7 35

New America School ........................................................................................................................ Vol. VIII 36 69

New America School of Las Cruces ............................................................................................ Vol. VIII 70 101

New Mexico Connections Academy .......................................................................................... Vol. VIII 102 126

New Mexico International School .............................................................................................. Vol. VIII 127 155

New Mexico School for the Arts .................................................................................................. Vol. VIII 156 195

North Valley Academy ..................................................................................................................... Vol. VIII 196 237

VOLUME IX

CHARTER SCHOOLS

Ralph J. Bunch Academy ................................................................................................................. Vol. IX 7 25

Red River Valley Charter School ................................................................................................. Vol. IX 26 63

Sage Montessori Charter School ................................................................................................. Vol. IX 64 93

School of Dreams Academy ........................................................................................................... Vol. IX 94 130

South Valley Preparatory School ................................................................................................ Vol. IX 131 170

Southwest Aeronautics, Mathematics, and Science Academy ........................................ Vol. IX 171 206

Southwest Intermediate Learning Center .............................................................................. Vol. IX 207 240

VOLUME X

CHARTER SCHOOLS

Southwest Primary Learning Center ......................................................................................... Vol. X 7 40

Southwest Secondary Learning Center .................................................................................... Vol. X 41 77

Taos Academy ..................................................................................................................................... Vol. X 78 121
Vol. I - 7


Taos Integrated School of the Arts ............................................................................................ Vol. X 122 152

Taos International Charter School ............................................................................................. Vol. X 153 174

The Learning Community Charter School .............................................................................. Vol. X 175 195

Tierra Adentro .................................................................................................................................... Vol. X 196 240

VOLUME XI

CHARTER SCHOOLS

Uplift Community School ............................................................................................................... Vol. XI 4 37

Walatowa High Charter School .................................................................................................... Vol. XI 38 81

William W. & Josephine Dorn Charter Community School ............................................. Vol. XI 82 109

Vol. I - 8
STATEOFNEWMEXICO
PUBLICEDUCATIONDEPARTMENT
OFFICIALROSTER
JUNE30,2015
AdministrativeOfficials
Hanna Skandera
Hipolito Aguilar
Leighann Lenti
Marian Rael
Molly Saiz

John Wolf

Antonio Ortiz
Matthew Montano
Vacant

Katie Poulos
Vacant

Matt Phal

Denise Koscielniak
Michael Archibeque
Annjenette Torres
Robert McEntyre
Hipolito Aguilar
Michael Mulligan
Annette Ortega

Secretary of Education
Deputy Secretary, Finance & Operations
Deputy Secretary, Policy and Program

Director, Administrative Services Division, CFO
Audit and Accounting Bureau Chief
Director, School Budget & Finance Analysis Bureau
Director, Capital Outlay Bureau
Director, Educator Quality Division
Director, Accountability & Assessment
Director, Parent Options
Assistant Secretary, Indian Education Division
Policy Director
Director, Federal Programs
Chief Information Officer
Director, Strategic Initiatives and Constituent Services
Public Information Officer
Acting Director, Division of Vocational Rehabilitation
Deputy Director, Division of Vocational Rehabilitation
Administrative Services Unit
Chief Financial Officer, Division of Vocational Rehabilitation
Public Education Commission

Eleanor Chavez

Millie Pogna

Carmie Lynn Toulouse
Karyl Ann Armbruster
James Conyers

Gilbert G. Peralta

Patricia Gipson

Vince Bergman

Carolyn Shearman

Jeff Carr

Commissioner
Commissioner
Commissioner
Commissioner
Commissioner
Secretary

Commissioner
Vice Chair

Chairperson
Commissioner
Albuquerque
Albuquerque
Albuquerque
Los Alamos
Bloomfield
Socorro
Las Cruces
Roswell
Artesia
Eagle Nest
District 1
District 2
District 3
District 4
District 5
District 6
District 7
District 8
District 9
District 10
Vol. I - 9
INDEPENDENTAUDITORSREPORT
ToHannaSkandera,SecretaryofEducation
NewMexicoPublicEducationDepartment
andMr.TimKeller
NewMexicoStateAuditor
ReportonFinancialStatements
We have audited the accompanying financial statements of the governmental activities, each discretely
presented component unit (New Mexico state chartered charter schools), each major fund, and the
aggregate remaining fund information, and the budgetary comparisons for the general fund and major
special revenue funds of the New Mexico Education Department (Department), as of and for the year
ended June 30, 2015, and the related notes to the financial statements, which collectively comprise the
Departmentsbasicfinancialstatementsaslistedinthetableofcontents.Wealsohaveauditedthefinancial
statements of each of the Departments nonmajor governmental funds and fiduciary funds, and the
budgetary comparison for the major capital projects fund and all nonmajor funds presented as
supplementary information, as defined by the Government Accounting Standards Board, in the
accompanying combining and individual fund financial statements as of and for the year ended June 30,
2015,aslistedinthetableofcontents.
ManagementsResponsibilityfortheFinancialStatements
Management is responsible for the preparation and fair presentation of these financial statements in
accordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludesthe
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
AuditorsResponsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted
ourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthe
standards applicable to financial audits contained in Government Auditing Standards, issued by the
ComptrollerGeneraloftheUnitedStates.Thosestandardsrequirethatweplanandperformtheaudit to
obtainreasonableassuranceaboutwhetherthefinancialstatementsarefreefrommaterialmisstatement.
Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthe
financialstatements.Theproceduresselecteddependontheauditorsjudgment,includingtheassessment
oftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmaking
those risk assessments, the auditor considers internal control relevant to the entitys preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheentitysinternal
control.Accordingly,weexpressnosuchopinion.
Vol. I - 10

Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessof
significantaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthe
financialstatements.
Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforour
auditopinions.
SummaryofOpinions
OpinionUnit
TypeofOpinion
AllGovernmentalActivitiesFunds
Unmodified
FiduciaryFunds
Unmodified
DiscretelyPresentedComponentUnitanditsFunds:
CreativeEducationPreparatoryInstitute#1
Disclaimer
HealthSciencesAcademy
Disclaimer
SouthwestIntermediateLearningCenter
Disclaimer
SouthwestPrimaryLearningCenter
Disclaimer
SouthwestSecondaryLearningCenter
Disclaimer
SouthwestAeronautics,Mathematics,andScienceAcademy
Disclaimer
AcademyofTradesandTechnologyFoundation(Discretely
presentedfundoftheAcademyofTradesandTechnologyCharter)
Disclaimer
AcademyofTradesandTechnology(allfunds,exceptfoundation)
Unmodified
EachRemainingDiscretelyPresentedComponentUnit
Unmodified
BasisforDisclaimerofOpinionontheCreativeEducationPreparatoryInstitute#1,aDiscretelyPresented
ComponentUnit,anditsFunds
Management of the Creative Education Preparatory Institute #1 (CEPI) was unable to provide sufficient
evidentialmatterinsupportofcertaintransactionsandaccountbalances,aspresentedintheCEPIfinancial
statementsandtherelatedfundfinancialstatementsasofandfortheyearendedJune30,2015.Wewere
unabletosatisfyourselvesbyotherauditingproceduresconcerningthesereportedbalancesforCEPIasa
whole and its individual funds. Most notably we noted that cash is not being properly reconciled on a
monthly basis and that entries are being posted to fund balance without adequate supporting
documentation.Asaresultofthesematters,wewereunabletodeterminewhetheranyadjustmentsmight
havebeenfoundnecessaryinrespectofthebalancesreportedontheCEPIfinancialstatements.
DisclaimerofOpinionontheCreativeEducationPreparatoryInstitute#1anditsFunds
BecauseofthesignificanceofthemattersdescribedintheBasisforDisclaimerofOpinionontheCreative
EducationPreparatoryInstitute#1,aDiscretelyPresentedComponent Unit,andits Fundsparagraph, we
havenotbeenabletoobtainsufficientappropriateauditevidencetoprovideabasisforanauditopinion.
Accordingly,wedonotexpressanopiniononthefinancialstatementsoftheCEPIoritsrelatedfunds.
BasisforDisclaimerofOpinionontheHealthSciencesAcademy,aDiscretelyPresentedComponentUnit,
anditsFunds
ThefiscalyearendingJune30,2015wasthefirstyearHealthSciencesAcademy(HSA)wasinexistence.
DuringtheyearendingJune30,2015HSAwasorderedbytheNewMexicoPublicEducationCommissionto
ceaseoperationseffectiveJune30,2015andtheCommissionrevokedtheHSAscharter.HSAdidnotappeal
Vol. I - 11

thedecision.ManagementofHSAhadbeeninvolvedinfraudulentreportingofstudentcountsfromoutof
state students to obtain inflated State Equalization Guarantee funding, failed to maintain appropriate
separation of duties between the school and its board, failed to adequately address conflicts of interest,
failed to properly comply with the States procurement code and failed to have all required education
programminginplace.Wewereunabletosatisfyourselvesbyotherauditingproceduresconcerningthese
reportedviolationsandwhatimpacttheymighthavehadonHSAasawholeanditsindividualfunds.Asa
resultofthesematters,wewereunabletodeterminewhetheranyadditionalmaterialadjustmentsmight
havebeenfoundnecessaryinrespectofthebalancesreportedontheHSAfinancialstatements.
DisclaimerofOpinionontheHealthSciencesAcademyanditsFunds
BecauseofthesignificanceofthemattersdescribedintheBasisforDisclaimerofOpinionontheHealth
Sciences Academy, a Discretely Presented Component Unit, and its Funds paragraph, we have not been
abletoobtainsufficientappropriateauditevidencetoprovideabasisforanauditopinion.Accordingly,we
donotexpressanopiniononthefinancialstatementsofHSAoritsrelatedfunds.
Basis for Disclaimer of Opinion on the Southwest Intermediate Learning Center, Southwest Primary
Learning Center, Southwest Secondary Learning Center, and the Southwest Aeronautics, Mathematics,
and Science Academy (Southwest Charters), Discretely Presented Component Units, and their related
funds
ThefinancialstatementsoftheSouthwestChartershavenotbeenauditedasmanagementoftheSouthwest
Charters was unable to provide sufficient evidential matter to support certain transactions and account
balances, as presented for the Southwest Charters financial statements and related fund financial
statements as of and for the year ended June 30, 2015. We were unable to satisfy ourselves by other
auditing procedures concerning these reported balances for the Southwest Charters as a whole and its
funds.Asaresultofthesematters,wewereunabletodeterminewhetheranyadjustmentsmighthavebeen
necessaryinrespectofthebalancesreportedontheSouthwestChartersfinancialstatements.
Disclaimer of Opinion on the Southwest Intermediate Learning Center, Southwest Primary Learning
Center,SouthwestSecondaryLearningCenter,andtheSouthwestAeronautics,Mathematics,andScience
Academyandtheirrelatedfunds
Because of the significance of the matters described in the Basis for Disclaimer of Opinion on the
Southwest Intermediate Learning Center, Southwest Primary Learning Center, Southwest Secondary
Learning Center, and the Southwest Aeronautics, Mathematics, and Science Academy (Southwest
Charters), Discretely Presented Component Units, and their related funds paragraph, we have not been
abletoobtainsufficientappropriateauditevidencetoprovideabasisforanauditopinion.Accordingly,we
donotexpressanopiniononthefinancialstatementsoftheSouthwestChartersortheirrelatedfunds.
Basis for Disclaimer of Opinion on the Academy of Trades and Technology Foundation, a Fund of the
DiscretelyPresentedComponentUnit(AcademyofTradesandTechnologyCharterSchool)
ManagementoftheAcademyofTradesandTechnologyFoundation(Foundation)wasunabletoprovide
sufficient evidential matter in support of certain transactions and account balances, as presented in the
Foundations financial statements as of and for the year ended June 30, 2015. We were unable to satisfy
ourselvesbyotherauditingproceduresconcerningthesereportedbalancesfortheFoundationasawhole
(asadiscretelypresentedfundoftheAcademyofTradesandTechnologyCharterSchool).
Vol. I - 12

Disclaimer of Opinion on the Academy of Trades and Technology Foundation (a Fund of the Discretely
PresentedComponentUnitAcademyofTradesandTechnologyCharterSchool)
BecauseofthesignificanceofthemattersdescribedintheBasisforDisclaimerofOpinionontheAcademy
of Trades and Technology Foundation, a Fund of the Discretely Presented Component Unit (Academy of
TradesandTechnologyCharterSchool)paragraph,wehavenotbeenabletoobtainsufficientappropriate
audit evidence to provide a basis for an audit opinion. Accordingly, we do not express an opinion on the
financial statements of the Academy of Trades and Technology Foundation (a Fund of the Discretely
PresentedComponentUnitAcademyofTradesandTechnologyCharterSchool).
UnmodifiedOpinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respectivefinancialpositionofthegovernmentalactivities,eachdiscretelypresentedcomponentunit(New
Mexicostatecharteredcharterschools),eachmajorfund,andtheaggregateremainingfundinformationof
the Department, as of June 30, 2015, the respective changes in financial position and the respective
budgetary comparisons for the general fund and major special revenue funds for the year then ended in
accordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.Inaddition,inour
opinion, the financial statements referred to above present fairly, in all material respects, the respective
financialpositionforeachnonmajorgovernmentalfundsandfiduciaryfundsoftheDepartmentasofJune
30,2015,andtherespectivechangesinfinancialpositionthereofandtherespectivebudgetarycomparisons
for the major capital projects fund and all nonmajor funds for the year then ended in accordance with
accountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.
EmphasisofMatter
As discussed in Note 1, the financial statements of the Department are intended to present the financial
positionandchangesinfinancialpositionofonlythatportionofthegovernmentalactivitiesoftheStateof
NewMexicothatisattributabletothetransactionsoftheDepartment.Theydonotpurportto,anddonot
presentfairlythefinancialpositionoftheStateofNewMexicoasofJune30,2015,andthechangesinits
position and budgetary comparisons for the year then ended in conformity with accounting principles
generallyacceptedintheUnitedStatesofAmerica.
ChangeinAccountingPrinciple
As discussed in Note 21 to the financial statements, in 2015 the Departments discretely presented
component units adopted new accounting guidance, GASB Statement No. 68, Accounting and Financial
ReportingforPensionsanamendmentofGASBStatementNo.27.Ouropinionisnotmodifiedwithrespect
tothismatter.
OtherMatters
RequiredSupplementaryInformation
Accounting principles generally accepted in the United States of America require that the managements
discussion and analysis on pages 1545 be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental
AccountingStandardsBoard,whoconsidersittobeanessentialpartoffinancialreportingforplacingthe
basicfinancialstatementsinanappropriateoperational,economic,orhistoricalcontext.Wehaveapplied
certain limited procedures to the required supplementary information in accordance with auditing
standardsgenerallyacceptedintheUnitedStatesofAmerica,whichconsistedofinquiriesofmanagement
about the methods of preparing the information and comparing the information for consistency with
Vol. I - 13

managementsresponsestoourinquiries,thebasicfinancialstatements,andotherknowledgeweobtained
duringourauditofthebasicfinancialstatements.Wedonotexpressanopinionorprovideanyassurance
ontheinformationbecausethelimitedproceduresdonotprovideuswithsufficientevidencetoexpressan
opinionorprovideanyassurance.
OtherInformation
Our audit was conducted for the purpose of forming opinions on the financial statements, the combining
andindividualfundfinancialstatements,andthebudgetarycomparisons.TheScheduleofExpendituresof
federal awards as required by Office of Management and Budget Circular A133, Audits of States, Local
Governments,andNonProfitOrganizations,andtheotherschedulesasrequiredbySection2.2.2NMACare
presentedforpurposesofadditionalanalysisandarenotarequiredpartofthebasicfinancialstatements.
TheScheduleofExpendituresofFederalAwardsandotherschedulesrequiredbySection2.2.2NMACare
theresponsibilityof managementandwerederivedfromandrelatedirectlytotheunderlyingaccounting
andotherrecordsusedtopreparethebasicfinancialstatements.Suchinformationhasbeensubjectedto
the auditing procedures applied in the audit of the basic financial statements and certain additional
procedures,includingcomparingandreconcilingsuchinformationdirectlytotheunderlyingaccountingand
otherrecordsusedtopreparethebasicfinancialstatementsortothebasicfinancialstatementsthemselves,
and other additional procedures in accordance with auditing standards generally accepted in the United
States of America. In our opinion, the Schedule of Expenditures of Federal Awards and other schedules
required by Section 2.2.2 NMAC are fairly stated, in all material respects, in relation to the basic financial
statementsasawhole.
TheScheduleofVendorInformationhasnotbeensubjectedtotheauditingproceduresappliedintheaudit
ofthebasicfinancialstatementsand,accordingly,wedonotexpressanopinionorprovideanyassuranceon
it.
OtherReportingRequiredbyGovernmentAuditingStandards
In accordance with Government Auditing Standards, we have also issued our report dated November 20,
2015onourconsiderationoftheDepartmentsinternalcontroloverfinancialreportingandonourtestsof
its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters.Thepurposeofthatreportistodescribethescopeofourtestingofinternalcontroloverfinancial
reporting and compliance and the results of that testing, and not to provide an opinion on the internal
controloverfinancialreportingoroncompliance. Thatreportisanintegral partofanauditperformed in
accordance with Government Auditing Standards in considering the Departments internal control over
financialreportingandcompliance.
Albuquerque,NewMexico
November20,2015
Vol. I - 14
STATE OF NEW MEXICO

MANAGEMENTS DISCUSSION AND ANALYSIS
Year Ended June 30, 2015
The following managements discussion and analysis (MD & A) provides an overview of the
State of New Mexico Public Education Department (Department) financial activities for the
fiscalyearendedJune30,2015.TheMD&Aisdesignedto(a)assistthereaderinfocusingon
significant financial issues, (b) provide an overview of the Departments financial activity, (c)
identifychangesintheDepartmentsfinancialposition,(d)identifyanymaterialdeviationfrom
thefinancialplan(theapprovedbudget)and(e)identifyanyfinancialissuesorconcerns.Please
read it in conjunction with the Departments financial statements, which begin following this
analysis.
DepartmentHighlights
The Department is made up of 2 distinct appropriated entities and 60 discretely presented

component units: the Public Education Department, the Division of Vocational Rehabilitation,
and 60 state authorized chartered schools. The Public Education Department (PED) provides
leadership at the state and department levels in meeting the needs of and requirements for
education in New Mexico. This includes providing assistance and direction to local school
districts,localboardsofeducationandothereducationalentities.
The Division of Vocational Rehabilitation (DVR) is responsible for the administration and
provision of all DVR programs and services through nine areas and twelve satellite offices
statewide.ThisalsoincludestheadministrationoftheSocialSecurityDisabilityDetermination
Servicesfederalprogram.
The60stateauthorizedcharteredschoolsaretoprovideanalternativeeducationalsettingto
parents and students in the publicschool system. Stateauthorized chartered schools provide
anopportunitytocreatenew,innovativeandmoreflexiblewaysofeducatingchildren.
In September 2003, New Mexico voters approved a constitutional amendment changing the
nature of the Department. The 15member State Board of Education was replaced by the
elected10memberPublicEducationCommission,whoseauthorityanddutiesweredefinedby
laws enacted by the New Mexico State Legislature during the 2004 Regular Session. The
SuperintendentofPublicInstruction,appointedbytheStateBoardofEducation,wasreplaced
by the Secretary of Public Education, a cabinet secretary appointed by the governor and
confirmedbytheNewMexicoSenate.TheStatePublicEducationDepartmentwasreplacedby
the Public Education Department as a cabinetlevel department of the executive branch of
government.
Anotherconstitutionalamendment,alsoapprovedbythevotersinSeptember2003,increased
the distribution from the State Land Grant Permanent Fund to be used to implement and
maintaineducationalreformspassedbythestatelegislature.
Vol. I - 15
STATE OF NEW MEXICO

MANAGEMENTS DISCUSSION AND ANALYSIS (CONTINUED)

UsingtheAnnualReport
TheDepartment'sBasicFinancialStatements(BFS)arepresentedinfourparts,inthefollowing
order:
1.DepartmentwideFinancialStatements,
2.FundFinancialStatements,
3.BudgetaryComparisonStatements,and
4.NotestotheBasicFinancialStatements.
Departmentwide Financial Statement: The departmentwide financial statements include the

first two financial statements: the Statement of Net Position and the Statement of Activities.
These statements report information on all of the financial activities and resources of the
Department as a whole except for information applicable to fiduciary activities. Fiduciary
activitiesrepresentfundsheldintrustforothers.Thesefundsarenotincludedintheresources
available to support the Department's governmental activities. Governmental activities are
financedbygeneralrevenueappropriationsandstateandfederalgrants.
TheDepartmentwideStatementofNetPositionreportstheassetsoftheDepartmentandthe
corresponding claims and liabilities against those assets at June 30, 2015. The difference
betweenthevalueoftheassetsandtheliabilitiesisreflectedasthevalueofthenetposition.
Increases or decreases in net position measure whether the financial position of the
Department improved or deteriorated. Net position legally limited to a particular use is
reported as restricted. Unrestricted net position contains assets that can be used to fund
operating expenses in future years. A deficit (negative) balance in unrestricted net position
would indicate that obligations incurred in the current and prior periods exceed the value of
assets currently available, and that the assets of future periods will be required to meet the
establishedobligations.
The Departmentwide Statement of Activities reports the educational and educationrelated

expensesandthecostofgeneralgovernmentoperationsoftheDepartment,withacomparison
oftheprogramrevenuesobtainedtofinancethem,andthegeneralrevenuesmadeavailableto
fund the difference. The statement also reports the change in net position during the 2015
fiscal year. This also includes health and welfare related expenses and cost of general
government operations of the Division of Vocational Rehabilitation, with a comparison of
programrevenuesobtainedtofinancethem,andthegeneralrevenuesmadeavailabletofund
thedifference.
TheDepartment'sactivitiesaregroupedintothefunctionalprograms.TheEducationactivities
are funded from federal revenues provided primarily by the U.S. Department of Education.
Health and Welfare activities are Vocational Rehabilitation programs and the Disability
Vol. I - 16
STATE OF NEW MEXICO


Determination Services program, both administered by DVR. The state authorized chartered
schools activities are grouped into the functional programs and are funded from federal flow
through revenues from the Department and are expensed within the categories of
instructional,support,andoperations.
Fund Financial Statements: The fund financial statements that follow the departmentwide
financial statements report on the financial position and changes in financial position of the
individual funds used by the Department. Funds are separate accounting entities used in
government accounting to segregate transactions according to the sources of funding and to
demonstrate legal compliance with the restrictions that may be imposed on those financial
resources. The Department uses two types of funds to account for its financial activities:
governmentalfundsandfiduciaryfunds.
GovernmentalFunds
Governmental funds are used to account for the finances of the governmental activities
reported in the departmentwide financial statements. The Department uses two types of
governmentalfunds:ageneralfundtoaccountforactivitiesnotrequiredtobeaccountedforin
otherfunds,andspecialrevenuefundstoaccountforcollectionandexpenditureofearmarked
andrestrictedfundresources(Note1).
FiduciaryFunds
Fiduciary funds are used to account for resources the Department holds for others. The
Department uses three fiduciary funds. The agency fund is used to accumulate driver safety
fees that are to be distributed to each school for the purpose of providing defensive driving
instructions.Theprivatepurposetrustsareusedtoreportarrangementsunderwhichprincipal
of donations invested or interest earned on investments benefit specific individuals. The Eva
LouScholarshipfundbenefits"deservingboysandgirls",andtheTutorScholarshipisusedto
accountfordonationstobeusedtofundscholarshipsforacademicallysuccessfulstudentswho
tutor atrisk high school students. The finances of these funds are reported in a separate
Statement of Fiduciary Net Position. The resources of these funds are excluded from the
departmentwide financial statements because they cannot be used to finance the
Department'soperations.
Reconciliation of Departmentwide Financial Statements to Fund Financial Statements:

Differencesinamountsreportedinthedepartmentwidefinancialstatementsversusthefund
financialstatementsresultfromthedifferentmeasurementfocusandbasisofaccountingused.
The measurement focus used for governmental funds is based on budgetary control and the
flow of resources in the current year. As an example, capital purchases are treated as
expenditures of the current year. Departmentwide financial statements reflect such
Vol. I - 17
STATE OF NEW MEXICO


transactionsasallocationsoverthetimeofuseintheformofdepreciation.Areconciliationof
differences between departmentwide and fund financial statements is provided in separate
schedulesthatdetailthedifferencesinaccountingtreatment.
Budgetary Comparisons: The budgetary comparison statements furnish a budgettoactual

comparison for all governmental funds to report compliance with the approved budget. The
budgetamountsreportedarethoseintheoriginalbudgetandintheamendedbudget,which
reflects all legal adjustments made to the budget since the start of the fiscal year. The
budgetaryactualamountsarestatedonthesamebasisasthebudgetfigures.
Notes to the Financial Statements. The notes to the financial statements provide detailed
informationtosupportandexplainkeyfinancialinformationpresentedinthedepartmentwide
andfundfinancialstatements.
ThenotesprovideinformationontheactivitiesoftheDepartment,onthebasisofaccounting
used,andonaccountingpoliciesreflectedinthefinancialstatementstoclarifyingkeyfinancial
information.Theyareintegraltounderstandingthefinancialstatements.
SupplementalandSupplementaryInformation:Supplementalinformationisprovidedtoreport
the combining financial statements of nonmajor funds and fiduciary funds, to report the
change in assets and liabilities of the agency fund, and to report the details of federal grant
awards and expenditures. The information is provided in compliance with federal and state
reportingrequirements.
Since the Department is composed of two distinctly appropriated entities and 60 state
authorizedcharteredschools,aseparatediscussionandanalysissectionisbeingpresentedfor
the Public Education Department, the Division of Vocational Rehabilitation, and the 60 state
authorizedcharteredschoolsfollowingthedepartmentwidediscussionandanalysis.
FinancialHighlights
PublicEducationDepartment
TheDepartmenthasfourmajorfunds.TheGeneralfund(SHAREFund05700)accounts
for administration of PED, not including DVR or federal administrative costs. DVR's
administrative and direct costs are recorded in the Vocational Rehabilitation fund
(SHARE Fund 50000) and the Disability Determination Services fund (SHARE Fund
50100), which together are presented as the DVR General Fund in the financial
statements.Theotherfundsareprimarilypassthroughfundsandaredescribedinmore
detailinthefinancialstatementsfootnotes.
Vol. I - 18
STATE OF NEW MEXICO


The Department's fiduciary activities are reported in separate statements of fiduciary
netpositionandchangesinfiduciarynetposition.Weexcludetheseactivitiesfromthe
Department's other financial statements because the Department cannot use these
assets to finance its operations. The Department is responsible for ensuring that the
assetsreportedinthesefundsareusedfortheirintendedpurposes.
DivisionofVocationalRehabilitation
As noted above, DVR has two major funds, which are combined in the financial
statements for reporting purposes. The Vocational Rehabilitation Program is funded
undertheU.S.DepartmentofEducationsRehabilitationServicesAdministration(RSA)
withfederalfundingthatrequires21.3%ofthetotalexpendituresundertheprogramto
bemadewithstatematchingfunds.Theremaining78.7%arefundedwiththefederal
grant. DVRs other major program is the Disability Determination Program, which is
fundedbytheU.S.SocialSecurityAdministration(SSA).Theprogramdoesnotrequirea
statematchandisfunded100%withafederalgrantfromSSA.
DVR capital assets decreased by $693,910, which was a result of a physical inventory
count completed during the fiscal year that identified approximately $804,288 of fully
depreciatedassetsthatweredisposedofduringthecourseofthefiscalyearordidnot
exist. The reductions were offset by approximately $67,479 of asset additions, net of
$42,899ofdepreciationexpensedduringthefiscalyear.
AdministrationTheDVRprogramisajointeffortofthefederalandstategovernments
to assist people with disabilities, as a function of the Rehabilitation Act of 1973, as
amended, the Workforce Innovation Opportunity Act of 2014, and the Social Security
Act,asamended.TheNewMexicoDVRisadivisionoftheNewMexicoPublicEducation
Department and is responsible for a variety of services for people with disabilities.
Although it receives a separate appropriation from the Legislature and has its own
businessunitwiththeDepartmentofFinanceandAdministration,DVRisadivisionof
thePublicEducationDepartment.
Vol. I - 19
STATE OF NEW MEXICO


FinancialAnalysisoftheDepartmentasaWhole
NetPosition
TheDepartment'snetpositionatJune30,2015was$54,658,612.TableA1summarizesthe
Department'snetpositionforthefiscalyearendedJune30,2015.
TableA1
TheDepartmentsNetPosition
(DollarsinThousands)
June30,2015
June30,2014
PED
DVR
Department
Department
Assets

CurrentAssets
$266,319
10,737
277,056
285,637
Capitalassets,net
313
192
505
270
Totalassets
Liabilities
NetPosition
Investmentincapital
assets
Restricted
Unrestricted(Deficit)
TotalNetPosition
266,632
10,929
277,561
213,590
9,312
222,902
313
43,082
9,647
192
2,161
(736)
505
45,243
8,911
$53,042
1,617
54,659
285,907
230,418
270
40,916
14,303
55,489
Vol. I - 20
STATE OF NEW MEXICO


ChangesinNetPosition
TheDepartmentschangeinnetpositionfortheyearendedJune30,2015was$(830,762).
TableA2summarizestheDepartmentschangesinnetpositionforfiscalyear2015.
TableA2
TheDepartmentsChangesinNetPosition
YearEnded
YearEndedJune30,2015
June30,2014
PED
DVR
Department Department

ProgramRevenueGrants $
385,638
29,529
415,167
431,126
GeneralRevenues
Stateappropriation
Interagencytransfer,
net
Reversions
Proceedsofstate
generalobligationand
severancetaxbonds
Totalgeneralrevenues
Expenses
Education
HealthandWelfare
TotalExpenses
(3,134,327)
(3,134,327)
Changeinnetposition
NetPosition
BeginningofYear
Restatement
NetPositionBeginningof
Year,asrestated
2,727,092
516
46,339
2,747,865
(824)
TotalNetPosition
1,623
1,623
53,042
(3,134,327)
(35,801)
(3,170,128)
(830)
53,866
(6)
53,866
(35,801)
(35,801)
(6,515)
(18,535)
46,339
2,754,131
6,266

2,732,842
5,750
(7,031)
(18,535)
1,617
2,580,193
(1,659)
(12,649)
40,537
2,606,422
(3,010,588)
(32,564)
(3,043,152)
(5,604)
55,489

37,974
23,119
55,489
61,093
54,659
55,489
Vol. I - 21
STATE OF NEW MEXICO


DVRschangeinnetpositionincreasedby$168,993betweenyears.Theincreaseresultsfrom
various changes in revenue sources and expenditure categories, including an increase in
operatinggrants.
PEDs funding passes through to the schools. Administrative costs are approximately 0.7% of
theDepartmentstotalexpenditures.Educationcontinuestobeapriorityofthestateandthe
Departmentsoperationsareadequatelysupportedbystateandfederalresources.
ChangesinCapitalAssets
Duringthefiscalyear2015,PEDdisposedof$754,966ofITequipment.Therewerenochanges
betweenFY14andFY15forDVR.
TableA3
TheDepartmentsCapitalAssets
June30,2014
June30,2014
PED
DVR
Department Department
ArtAcquisitions
$
6
6
6
EquipmentandMachinery
1,390
1,168
2,558
5,517
AccumulatedDepreciation
(1,083)
(976)
(2,059)
(5,253)
Totalcapitalassets,net
$
313
192
505
270
Capital Assets for the Department are presented in Note 8 to the financial statements to
illustratechangesfromtheprioryear.
ReportingtheDepartment'sMostSignificantFunds
The Department's two kinds of funds are classified into two categories: governmental and
fiduciary.Inturn,eachcategoryisdividedintoseparatefundtypes.Thefundclassificationand
descriptionofeachexistingfundtypefollow:
Governmental funds: Governmental funds are used to account for the Department's general
governmentactivities,includingthecollectionanddisbursementofspecificorlegallyrestricted
monies.Governmentalfundsinclude:
GeneralfundTheprimaryoperatingfundoftheDepartmentaccountsforallfinancial
resources,exceptthoserequiredtobeaccountedforinotherfunds.
SpecialrevenuefundsTheseaccountfortheproceedsofspecificrevenuesourcesthat
arelegallyrestrictedtoexpendituresforspecifiedpurposes.
Vol. I - 22
STATE OF NEW MEXICO


Fiduciaryfunds.FiduciaryfundsaccountforassetsheldbytheDepartmentinatrusteecapacity
orasanagentonbehalfofoutsideparties,includingothergovernments,oronbehalfofother
fundswithintheDepartment.
PrivatepurposetrustfundsThesefundsareusedtoaccountfortrustarrangements
under which principal or interest benefit specific individuals or organizations, but not
thereportinggovernment.
Agency funds These are used to account for assets held on behalf of individuals,
privateorganizations,othergovernmentand/orotherfunds.
GeneralFundBudgetaryHighlights
The New Mexico State Legislature makes annual appropriations to the Department.
Amendments to the appropriated budget require approval by the Budget Division of the
DepartmentofFinanceandAdministration,withreviewbytheLegislativeFinanceCommittee.
Supplementalandspecialappropriationsarenotreflectedintheactualbeginningbalances.
Over the course of the year, the Department adjusts its budget as authorized in the
AppropriationAct.Thesebudgetadjustmentsfallintothreecategories:
Budget adjustment requested made during the fiscal year to allow the Department to
utilizefundswhereneeded.
Budgetadjustmentrequeststoincreaseordecreaseotherstatefundsbasedonactual
revenues.
Budget adjustment requests that adhere to required operating budget cuts in

compliancewithLegislativeactions.
With regard to the Public Education Department, general fund support increased by $183
Thousand1.5%forFY15.TheentireincreasewasfortheincreasedcostsforGSDrates.
Recognizingtheimportanceofearlylearningoffuturestudentsuccess,theGovernorsignedthe
General Appropriations Act that increased funding for Prekindergarten by $4.3 Million,
KindergartenthreePlusby$5.3million,and$3millionforearlyreadinginitiatives.
As part of the Governors teacher effectiveness initiative, $4.6 million was appropriated for
teacher and school leader preparation programs, $7.3 million to support teacher and school
leadertraining,recruitmentandretention.Tosupportparents,$1.2millionwasappropriated
Vol. I - 23
STATE OF NEW MEXICO


fortheparentportaland$100thousandforparentadvocacy.Toaccuratelymeasureteacher
effectiveness$5.0millionwasappropriatedforanewteacherevaluationsystem.
PED budgetary statements are shown both in the major fund financial statements and the
requiredsupplementalinformationportionofthefinancialstatements.
PEDsSHAREFundNo.05700GeneralFundexpendituresbycategoryonthemodifiedaccrual
basisareshownbelow.
Final
Actual
Budget
Amount

PersonalServices&EmployeeBenefits
$
11,443,400
11,442,501
ContractualServices
1,277,200
1,276,677
Other
1,486,863
1,466,135
TotalExpenditures
14,207,463
14,185,313
PEDsSHAREFundNo.85800PublicSchoolSupportFlowThroughexpendituresbycategoryon
themodifiedaccrualbasisareshownbelow.
Final
Actual
Budget
Amounts

PersonalServices&EmployeeBenefits $

ContractualServices
Other
2,586,684,254 2,570,924,932
TotalEducation
$ 2,586,684,254 2,570,924,932
By virtue of the language contained in the General Appropriation Act, General Fund
appropriationstoNMDVRdonotreverttotheStateGeneralFund.
The DVR federal Vocational Rehabilitation grant program continued to address challenges
duringFY15intheareasoffinancialmanagement,indirectcosts,andmaintenanceofeffortof
effortrequirementsfornonfederalexpenditures.InFY15DVRtransferredallitsfinancialsinto
SHAREandisnowabletoderivedetailedaccountinginformationfromtheSHAREaccounting
system.
TheDVRbudgetfortheDisabilityDeterminationServicesprogramforFY15remainedvirtually
levelfromthepreviousfiscalyear.DDSanticipatedanincreaseinmedicalcostsandmedical
consultantcosts,however,medicalcostsdecreasedduringthefiscalyear.Limitationsonhiring
Vol. I - 24
STATE OF NEW MEXICO


for vacated positions also impacted closing numbers due to employee retirements and
transfers,withouttheabilitytoreplacethem.
EconomicandBudgetaryFactors

ThePublicEducationDepartmentoverallFY15Budgetwasanincreaseofapproximately$183
thousand or 1.5 % from the FY 14 appropriated budget. The increasewas for increased GSD
rates.
NMDVR: The NMDVR experienced a reduction in its federal grant allotment under the
Vocational Rehabilitation grant from Federal Fiscal Year 2014 (FFY2014) to FFY15 totaling
approximately $2.7 million. The FFY16 federal allotment under the program is expected to
remainrelativelyconsistentwiththeFFY15amount.
The NMDVR Disability Determination Services Program continues to operate under hiring
restrictionsimposedbytheU.S.SocialSecurityAdministration,whichmanagestheDDSfederal
grantfunding.ThislimitationcanbemodifiedbySSAdependinguponfundingavailability.
ComponentUnitsNewMexicoStateCharteredSchools
The component units for PED consist of the state authorized chartered schools. The state
authorized chartered schools were enacted during the 47th Legislative Session in 2006 under
SenateBill600.InFY2008,onlytwoschoolswereauthorizedasstatechartered(Cottonwood
ClassicalPreparatorySchoolandMediaArtsCollaborativeCharterSchool).
In FY 2009, seven additional schools were authorized as statechartered. The seven schools
include: Cien Aguas International School, Horizon Academy West, The International School at
MesaDelSol,TheNewAmericaSchool,NorthValleyAcademy,SchoolofDreamsAcademy,and
TaosAcademy.
InFY2010,thirteenadditionalschoolswereauthorizedasstatechartered.Thethirteenschools
include:AlbuquerqueSchoolofExcellence,TheASKAcademy,AlmaD'ArteCharterHigh,South
Valley Preparatory School, Cesar Chavez Community School, The MASTER Program, Tierra
Adentro, ACE Leadership High School, Taos Integrated School for the Arts, Albuquerque Sign
Language Academy, Creative Education Preparatory Institute, Gilbert L. Sena Charter High
SchoolandNMSchoolfortheArts.
In FY 2011, fourteen additional schools were authorized as statechartered. The fourteen

schoolsinclude:AcademyofTrades&Technology,AlbuquerqueInstituteforMath&Science,
AmyBiehlCharterHighSchool,EastMountainHighSchool,LaPromesaEarlyLearningCenter,
NewMexicoInternationalSchool,SouthwestIntermediateLearningCenter,SouthwestPrimary
Vol. I - 25
STATE OF NEW MEXICO


Learning Center, Southwest Secondary Learning Center, The Great Academy, The Montessori
ElementarySchool,VillageAcademy,JPaulTaylorAcademy,andAldoLeopoldCharterSchool.
InFY2012,fifteenadditionalschoolswereauthorizedasstatechartered.Thethirteenschools
include: Coral Community Charter, Estancia Valley Classical Academy, La Jicarita Community
School,LaResolanaLeadershipAcademy,LaTierraMontessoriSchooloftheArtsandSciences,
McCurdy Charter School, Mission Achievement and Success, Ralph J. Bunche Academy, Red
River Valley Charter School, Sage Montessori Charter, Southwest Aeronautics, Mathematics,
and Science Academy, The Learning Community Charter School, The New America SchoolLas
Cruces,UpliftAcademy,andtheWilliamW.&JosephineDornCharterCommunitySchool.
In FY 2013, one additional school was authorized as state chartered: Walatowa High Charter
School.
In FY 2014, three additional schools were authorized as statechartered. The three schools
include: the Anthony Charter School, Health Leadership High School and the New Mexico
Connections Academy. Please consider the additional schools when reviewing the financial
analysisofthecomponentunitsasawhole.
InFY2015,fiveadditionalschoolswereauthorizedasstatechartered.Thefiveschoolsinclude:
DreamDinCharterSchool,ExploreAcademy,HealthSciencesAcademy,LaAcademiaDolores
HuertaandTaosInternationalSchool.
AcademyofTrades&technology
BriefDiscussion
The Academy of Trades and Technology teaches practical job skills in construction
technologyandgraphingdesign.Studentscanearnahighschooldiplomaandtheskills
needed for collage or a quality job after high school. Students engage in handson
projects,jobtraining,andcommunityservice.
ACELeadershipAcademy
BriefDiscussion
The vision of this state charter school is to create a new prototype for public high
schools in New Mexico and the United States. The school will be located in the Old
Town/Saw Mill/Museum District of Albuquerque in order to provide access to young
people from across the city. The school, and its programs, will give cutting edge
construction specific learning to students by highly skilledteachers. NMACE iscreated
based on the premise that, given the appropriate design, the school can significantly
reduce the number of low income students who currently do not graduate in
Vol. I - 26
STATE OF NEW MEXICO


Albuquerque. The school will capture their imagination and prepare them for college
andwork.
AlbuquerqueInstituteofMathandScience
BriefDiscussion
AlbuquerqueInstituteforMathematicsandScienceatUNM(AIMS@UNM)isprepared
toprovideanextraordinaryeducationtohighAIMS@UNMstudentsintheAlbuquerque
metropolitan area who are interested in pursuing careers requiring advanced math,
science,andtechnologyskills.AIMS@UNMwilleducateanintellectuallysingleminded
blendofculturally,ethnicallyandeconomicallydiversestudentsinacultureofrigorand
strengthoffortitude,preparingthemforearlycollegeentrance;drivenbymotivation,
fueledbyinnovationandguidedbyaspiritofpublicservice.Itwillprepareitsgraduates
forpostsecondaryeducation,gainfulemployment,andleadershipinNewMexicoshigh
technologyindustry.
AlbuquerqueSchoolofExcellence
BriefDiscussion
Albuquerque School of Excellence (ASE) will be a college preparatory charter school
focusingonmath,scienceandtechnology.MembersoftheASEbelievethatexcellingin
math and science prepares youth to succeed in college, the workplace and the 21st
century.Thevisionistoenablestudentstosucceedinschoolandhaveoptionstoenter
math,scienceandengineeringcareers.Initially,theschoolwillhavegradesKthrough9.
One more consequent grade will be added every year afterwards. Total number of
studentswillsteadilyincreaseinfiveyearstoreach917.
TheAlbuquerqueSignLanguageAcademy
BriefDiscussion
TheAlbuquerqueSignLanguageAcademyisanewlyapprovedcharterschoolwhichwill
utilize American Sign Language (ASL) and English in order to achieve academic
excellence, support family involvement and promote multicultural community
integration. Because of the relatively small number of deaf and hard of hearing (dhh)
children,ASLAwillaccommodatenotonlydeafandhardofhearingstudents,butalso
hearing students including siblings of dhh, children of deaf adults (CODAs), visual
learners and others who would benefit from a bilingual education but are not eligible
forenrollmentinexisting"deaf"programsandschools.Nationally,onlyafewprograms
offerthisinnovativemodelservingadiversepopulation.Tocreateanoptimallearning
environmentthatissupportiveofacademic,socialandemotionaldevelopmentandto
Vol. I - 27
STATE OF NEW MEXICO


further expand the critical mass of bilingual peers, direct instruction in ASL will be
providedacrosscontentareas.
AldoLeopoldCharterSchool
BriefDiscussion
Learner centered taking into account students' individual learning styles, multiple
intelligences and cultural background to insure effective instructional design and
practicesinthecontextofthelocalcommunity.Theprogramisusinglocalnaturaland
community surroundings as a context for interconnecting all of the educational
practicesintoacomprehensiveschoolcurriculumstrategy.Modelandfosteraculture
ofhealthyinterpersonaldynamicsandcommunication.
Almad'ArteCharterHighSchool
BriefDiscussion
The mission of Alma is to provide a structured, yet nurturing, environment that
emphasizescreativity,collaborationandrespecttoensurethateverystudentbecomes
an active, empathetic, lifelong learner prepared for independent and collaborative
participationinallaspectsoflife.
AmyBiehlHighSchool
BriefDiscussion
Amy Biehl High School (ABHS) transforms young people from all walks of life into
civicmindedcollegestudentswhiletheyarestillinhighschool.Locatedintheheartof
downtownAlbuquerqueinaonehundredyearoldhistoricbuilding,ABHSisredefining
thevalueofahighschooldiplomabyprovidingachallengingcurriculumandcultivating
closerelationshipswithstudentsandfamilies.
AnthonyCharterSchool
BriefDiscussion
In FY15, the charter for Anthony Charter School was revoked by the Public Education
Commission. This decision was overturned on appeal and Anthony Charter School
works with students and families to identify student abilities, both academically and
socialemotionally, using a Personalized Education Plan as a pathway to ensure
graduation. ACS provides flexible and personalized programs with each student
developing a Personalized Education Plan. The Personalized Education Plan includes a
social emotional learningcomponent, based on the NM Core Stands and
bestinstructionalpractices.
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TheASKAcademy
BriefDiscussion
TheAskAcademy(ASK)willemphasizeScience,Technology,Engineering&Mathematics
(STEM) curricula to create a new learning culture through: project based learning
experiences, research programs, building relationships and a strong partnership
program to engage students in the learning process and to develop opportunities to
become lifelong learners. ASK will improve the retention of core New Mexico State
standards by providing multiple opportunities for students to demonstrate skills and
knowledgethroughresearch,STEMprojects,productproductionand/orservices.
CesarChavezCommunitySchool
BriefDiscussion
The Cesar Chavez Community School (CCCS) provides flexible and personalized
programs for anyone seeking a high school diploma and who would benefit from
services and educational programs offered during nontraditional hours. The intent of
CCCS is to provide high caliber educational services during times that are more
convenientfornontraditional,workingstudents.Studentswhoneedtoimprovebasic
skills in reading and/or math will get focused interventions in preparation for the
acceleratedgraduationoption.
CienAguasInternationalSchool
BriefDiscussion
TheCienAguasInternationalSchoolisaduallanguageschoolservingchildrenfromthe
kindergarten level through the eighth grade. The school's focus is international and
environmental and its curriculum integrates students who differ in language, culture
andincomeinordertopromotehighachievementforallstudents.CienAguasseeksto
develop confident, curious and compassionate young people who are bilingual and
biliterate, committed to a sustainable society, and who have the academic and
interpersonalskillsnecessarytosucceedinfurthereducation.
CoralCommunityCharter
BriefDiscussion
CoralCommunityCharterSchool(CCC)isastatechartered,publicapprovedschoolthat
openeditsdoorsinAugust2012.CCChasgradesK3andwilladdagradeeachyearuntil
it serves grades K6. We are dedicated to providing single gender classes, quality
instruction, individualization, and family/community involvement in order to ensure
students'proficiency.
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CottonwoodClassicalPreparatorySchool
BriefDiscussion
ThemissionoftheCottonwoodClassicalPreparatorySchool(CCPS)istodevelophighly
skilledlearningactivistswho,throughabroadknowledgebase,cananalyze,synthesize
and evaluate new information. Students will receive the same or higher standard of
education offered by the most academically distinguished public or private schools in
NewMexico.CCPSgraduateswillbepreparedtoenterandthriveattheworld'sfinest
colleges and universities and will also become driving forces in their local, regional,
national and global community. Students will be prepared for a dynamic 21st century
workforcewhereculturaldifferencesarestudied,respectedandvalued.
CCPS students will demonstrate social responsibility and integrity through active
communityinvolvementandservicelearningopportunities.Studentswillbewellversed
in communicating through reading, speaking, writing and listening with diverse
audiences.
BriefDiscussion
TheCreativeEducationPreparatoryInstitutes(CEPI's)missionistoengagestudentsand
their families in learning experiences directed at gaining academic and social skills
necessaryforpersonal,socialandcareersuccess.Students,familyandcommunitywill
viewthisschoolasonefoundedincommunityandfamilyvalues,offeringsocietaland
career relevant education utilizing technology, community and family resources, and
innovative and creative learning. Service learning in the community linked to careers
and mentorship will be a core part of the curricula. Success will be judged using a
continuousimprovementprocesswithintheBaldridgeFrameworkforEducation,aswell
astestsmandatedbytheNewMexicoPublicEducationDepartment.
DreamDin
BriefDiscussion
LocatedintheShiprockarea,DreamDineisasmallelementaryschoolcurrentlyserving
studentsingradesK2.DreamDineopenedinFY2015withgradesK1.Theschoolsgoal
istomatriculatebilingualstudentswhocancommunicatefluentlyinbothNavajoand
English in academic, social and political settings, who have firsthand experience in
applying cultural knowledge to address various challenges facing their own
communities, and whose sense of identity allows them to pursue college, career, and
communityservice.
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EastMountainHighSchool
BriefDiscussion
East Mountain High School is a model collegepreparatory school that provides
outstandinglearningexperienceswhichengage,challengeandinspireeachindividualto
achieveexcellence.
EstanciaValleyClassicalAcademy
BriefDiscussion
The Estancia Valley Classical Academy (EVCA) will provide students the benefit of a
content rich and academically rigorous classical liberal arts education with a strong
civics component, without the price tag of a private school. At EVCA, students will be
challenged to excel both in academics and in moral discipline. Students will learn
reading,math,andsciencethroughtimeprovenmethodsandwilllearnatrueaccount
of history based in the reading of primary source documents. Furthermore, discipline,
ethics, and personal responsibility will be modeled and expected. EVCAs aim is to
develop the academic potential and personal character of each of its students,
regardlessofbackground,socioeconomicstatusandability,andtograduatethemfully
preparedtobecomeintelligent,responsible,andactivemembersoftheircommunity.
ExploreAcademy
BriefDiscussion
LocatedinAlbuquerque,ExploreAcademyisahighschoolcurrentlyservingstudentsin
grades911.ExploreAcademyopenedinFY2015withgrades910.ExploreAcademys
missionistoprovideeachstudentwithapersonalizededucationalexperiencethrough
the power of student choice, allowing each student to create a unique educational
pathwayinpreparationforacollegefuture.
GilbertL.SenaCharterHighSchool
BriefDiscussion
TheGilbertL.SenaCharterHighSchools(GSH's)missionistoengagestudentsandtheir
familiesinaninnovativeandsupportiveenvironmentdirectedatgainingacademicand
socialskillsnecessaryforpersonal,socialandcareersuccess.GSHpromoteshonorsand
celebratesstudentsuccess.GSH'sVisionis"Opportunitytoacceleratestudentsuccess."
GSH strives to achieve this through a hybrid curriculum which consists of computer
aidedinstructionandteacherfacilitationandthroughourpartnershipwithCNM.Dual
creditclassesareofferedbothonGSH'scampusandatCNM.Theseclassesarefreeof
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chargetostudentsandallowthemtoattainbothhighschoolelectivecreditandcollege
credit.
TheGREATAcademy
BriefDiscussion
TheGREATAcademymissionistoensurethatallstudentsGainRealworldExperience
through Active Transition. The Academy exists, not only to improve education for
students,buttoprovidestudentswiththenecessaryskillsforcareersuccess.TheGREAT
Academy promises to make sure that our seniors are prepared for the demands of
postsecondaryeducationand/orthecareerworld,inturn,improvingthecommunityby
improving its residents. The Academy is committed to providing students with an
educationthatisrelevantandmeaningfultotheirjourneyofachievingsuccess.
HealthLeadershipHighSchool
BriefDiscussion
HealthLeadershipHighSchoolisdedicatedtohandson,projectbasedlearningthrough
the lens of the health profession. Curriculum is designed around industryfocused
projects,grouplearning,andstudentsupport.Studentsengageincollaborativeworkin
asupportive,smallschoolenvironmentthatvaluestheoverallwellbeingofouryoung
people. We providethe tools and experience students need to become successful
leadersinthehealthcareindustry.
BriefDiscussion
ThecharterforHealthSciencesAcademywasrevokedinJune2015.Theschool,which
waslocatedinSantaTeresa,openedinFY2015withgrades710andanightprogramto
serve nontraditional adult students in any grade. The schools stated mission was to
offer secondary students a rigorous comprehensive health science integrated
curriculum,andtopreparegraduatesforpostsecondaryeducationandhealthscience
careers through realworld applications in health internships and a school culture of
caringandacademicexcellence.Thecharterwasrevokedforfinancialmalfeasance.
HorizonAcademyWest
BriefDiscussion
Horizon Academy West (HAW) is a stateauthorized chartered school that serves
students from kindergarten through 6th grade. The focus is on students' academic
achievementandindividualdevelopment.Theschoolisdedicatedtoprovidingstudents
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with an academic and social foundation for their continual growth as lifelong learners
through a combination of rigorous instruction in the core content areas and an
appreciationofourculturaldiversity.
InternationalSchoolatMesaDelSol
BriefDiscussion
The International School at Mesa Del Sol (TIS) is a stateauthorized chartered school
whosevisionitistobringameaningful,comprehensivecontemporaryeducationtoall
students,regardlessofpersonalcircumstance,tomotivatethemtolearnandbeactively
engagedinourschoolcommunity.
JPaulTaylorAcademy
BriefDiscussion
J.PaulTaylorAcademy,inalliancewithfamiliesattheschoolandcommunity,willoffer
a rigorous, wellrounded duallanguage, project based instructional program in a
smaller school to promote academic excellence for the diverse students of the Las
Crucesarea.
LaAcademiaDoloresHuerta
BriefDiscussion
La Academia Dolores Huerta is a dual language charter middle school (grades 68)
serving 120 students from within the Las Cruces area. Our students learn in the
languages of English and Spanish, where we alternate the instructional language by
week.InadditiontothecoreclassesofLanguageArts,Math,ScienceandSocialStudies,
wecurrentlyofferthefollowingelectiveclasses:a)PE;b)BalletFolklorico;c)Mariachi;
d) Conjunto; and e) Art. Our first school year was the 20042005 academic year. We
completedourrenewalcharterduringthe20082009schoolyearandweareapproved
byourauthorizer,LasCrucesPublicSchools(lcps.k12.nm.us).
LaJicaritaCommunitySchool
BriefDiscussion
The mission of La Jicarita Community School (LJCS) is to provide a safe, open and
creative environment for a culturally diverse kindergarten through 6th grade student
populationinthePeascoareatolearnthroughcurriculumthatisfirmlybasedinstate
and national standards, and also fosters compelling liferelevant connections for
childrenthroughlearningexpeditions.AsanExpeditionaryLearningschool,ourprogram
focuses on service learning, placebased education and ecological education, with an
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addedemphasisinsecondlanguagelearningandteachingthroughthearts.Wehonora
childsindividualityandnaturaldesiretolearn,aswellastheirabilitytothinkcritically,
reflectupontheirworldandpromotepositivechangeintheircommunity.
LaPromesaEarlyLearningCenter
BriefDiscussion
La Promesa Early Learning Center Ensures that culturally and linguistically diverse
studentsthriveinanacademic,familycentered,developmentallyseamlesscontinuum
of learning where high expectations, respect and empowerment meet grade level
proficiency.
LaResolanaLeadershipAcademy
BriefDiscussion
The La Resolana Leadership Academy (LRLA) provides a rigorous and high quality
academic program in a small and safe traditional middle school setting. Individual
LearningPlansaredevelopedforeverystudentinordertoensureacademicsuccessin
higher education. Students will learn to cultivate meaningful relationships, learn the
importanceofbuildingastrongcharacteranddeveloptheskillsforsettingpersonaland
educational goals for the future. Students will participate in community service and
service learning projects which helps to develop responsibility in becoming productive
andcaringcitizens.
LaTierraMontessoriSchooloftheArtsandSciences
BriefDiscussion
La Tierra Montessori School of the Arts and Sciences will provide K8 students in
Espaola, NM and the surrounding communities with the opportunity to improve
educational outcomes and reach their maximum potential through an integrated
experientialcurriculumdesignedtoserveindividuallearners,theschoolcommunityof
learners, and the community as a whole. La Tierra Montessori School of the Arts and
ScienceswillutilizeanintegratedapproachtoeducationincludingMontessori,theArts,
and other proven educational models. Our goal is to foster competent, responsible,
healthy and independent citizens who love learning and respect themselves, other
peopleandtheirenvironment.TierraMontessoriSchooloftheArtsandSciencesisan
approved,free,public,charterschoolsettoopeninfall2012forK6grades.
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TheMASTERSProgram
BriefDiscussion
The mission of the Masters Program (MASTER) is to support the goal of a college
education as an option for every student by expecting all students to perform at
rigorous academic levels when provided challenging educational activities by inspired,
talented teachers. The educational philosophy and approach of MASTER will be
designed with an emphasis on Mathematics, Arts, Science, Technology, Engineering,
Reading and Service (MASTERS). A STEM curriculum will be offered. Teachers will be
trained in the Paideia Philosophy of education, which focuses on higher level thinking
andcommunication.
McCurdyCharterSchool
BriefDiscussion
The McCurdy Charter School (MCS) focuses on two intertwined elements that we
believeareessentialtoaneducationinNorthernNewMexico;theperceivedvalueof
educationandeducationismuchmorethanjustacademics.Thefirstelementfocuses
on the need to surround students with an environment of staff, families and
stakeholderswhovalueeducationintheirownlivesandwhorecognizethelongterm
impactithasinmoldingandshapingastudentslife.Thesecondelementmandatesthat
education is a combination of academic excellence and achievement, character
development and community engagement. Because the whole is always greater than
just the sum of its parts, a wellrounded education is much more likely to ensure a
wellroundedstudent.
MediaArtsCollaborativeCharterSchool
BriefDiscussion
TheMediaArtsCollaborativeCharterSchool(MACCS)providesahighschooleducation
throughaholisticapproachthatblendsmediaartswithresponsibilityandintegrityinan
inclusiveanddiverseacademicenvironment.
MACCS provides an integrated, inclusive curriculum through handson experiential

learningthatsatisfiesNewMexicostandardsforgraduationfromsecondaryschools.We
seek to prepare students for an education in the media arts at the university and
community college level, as well as to prepare all students to understand the role of
mediaartsintheworldandhowpeople'slivesareaffectedbythem.Ourmissionstems
from the need to provide an education that recognizes the extensive influence the
mediahasonourchildrenandsociety.
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MissionAchievementandSuccess
BriefDiscussion
The educational philosophy of Mission Achievement and Success (MAS) is that when
provided solid, research based instructional practices, all students can learn. This
includes students typically identified as being at risk. MAS is built on the founding
beliefthatequalaccesstohighqualityeducationmustbeaffordedtoallstudentsand
thatallstudentshavethepotentialtosucceed.Atthecoreofhighqualityeducationis
the delivery of standards based instruction through research based instructional
practices that are provided in an effective learning environment; and where
commitment to academic excellence is instilled in students as a basic belief, and life
skills,thatextendfarbeyondtheclassroom,aredevelopedwithineachstudent.
TheMontessoriElementarySchool
BriefDiscussion
TheMontessoriElementarySchool(TMES)offersanacceleratedprogrambyprovidinga
strong Montessori academic curriculum combined with a unique fine arts program
including Suzuki Method, Orff Music, and Visual Arts. The mission of TMES is to
encouragestudentsgradesK8tobecomeresponsiblecitizenswhohavetheabilityand
desiretofulfilllifelongeducationalandsocialgoals.
TheNewAmericaSchool
BriefDiscussion
The New America School (NAS) is a stateauthorized public charter high school
dedicated to serving a unique population recent immigrants and English Language
learners. NAS was created to serve unenrolled students who might lack the English
skillstosucceedinmainstreamhighschools.Theprogramhelpsstudentsthriveinhigh
school, and positions them for postsecondary education or whatever career options
theymaypursue.
TheNewAmericaSchoolLasCruces
BriefDiscussion
The New America School is a system of publicly funded charter high schools. The
mission of The New America School is to empower new immigrants and English
LanguageLearnerswiththeeducationaltoolsandsupporttheyneedtomaximizetheir
potential, succeed and live the American dream. New America schools are located in
diversecommunitieswheretheneedisgreatest.Wehavethreecampusesinthemetro
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Denver area, a campus in Albuquerque, New Mexico and opened a new campus in
August2012inLasCruces,NewMexico.
NewMexicoConnectionsAcademy
BriefDiscussion
New Mexico Connections Academys outstanding curriculum is customdesigned for
superiorresults.Withacustomizedlearningprogramforeachstudentsuniqueabilities,
it creates the ideal opportunity for students to excel. Instruction tailored to the right
levelofeachstudentmeanslessstress,moresuccess.Withhundredsofcourses,other
curriculumishighlyvariedandflexible.Texts,learningmaterials,andonlineresources
are woven into the courses. Lesson content and interactive learningactivities engage
studentsinindividualstudyandcollaborationwiththeirclassmates.
NewMexicoInternationalSchool
BriefDiscussion
New Mexico International School (NMIS) will provide K5 students an educational
programfocusedoninquirybasedteachingandlearning,theacquisitionoflanguages,
and the development of social, emotional, and rigorous academic skills necessary to
functioninourlocal,national,andinternationalcommunity.StudentsatNMISwilllearn
respectforthemselves;theircommunity;andthelargerdiverseworldinwhichtheylive
while developing a moral consciousness that will help them build integrity into their
lives.
NewMexicoSchoolfortheArts
BriefDiscussion
TheNewMexicoSchoolfortheArts(NMSA)isdedicatedtoartsmasteryandacademic
excellence, assisting passionate young artists in developing their full potential. The
primaryvisionofNMSAistoprovidestudentswiththetoolstopursueacareerinthe
arts,eitherasapracticingartistorintheartsindustry,andtosuccessfullyreceiveahigh
schooldiploma.NMSAenvisionsitsgraduatestobeproductivemembersoftheartistic
andcreativeworkforceand/ortobesuccessfulcollegestudents.
TheNorthValleyAcademy
BriefDiscussion
The North Valley Academy (NVA) is a stateauthorized chartered school committed to
providingallstudentswitharichandwellbalancededucationthrougharigorousfocus
onMathematics,LanguageArtsandanemphasisonHealthandWellness.
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RalphJ.BuncheAcademy
BriefDiscussion
The charter for Ralph J. Bunche was revoked in FY 15 by the Public Education
Commission. Ralph J. Bunche Academy was focused on developing a community of
learnerswhoexplore,discover,andpreparetoassumeleadershiprolesthroughtheuse
ofAfrocentric,technologyinfused,interdisciplinaryprojectbased,andstandardsguided
learningexperiences.
RedRiverValleyCharterSchool
BriefDiscussion
To provide a childcentered education that addresses the strengths, needs, interests,
and cultures that equip our students with the knowledge and skills needed to meet
challenges and succeed in a rapidly changing world. We are public charter school
founded by a group of parents interested in establishing a multicultural learning
environmentthatmeetstheacademicneedsofchildren.
SageMontessoriCharter
BriefDiscussion
In partnership with parents, Sage Montessori Charter School (SMCS) will provide K8
students the broad educational opportunity afforded by a model Montessori program
coupledwithexcitingandenrichingartisticexperiencesinartandmusic,enablingeach
studenttodevelopvaluesandabilitiesessentialtosuccessfullymeettheireducational
goalsandlifelongfulfillmentasproductivecitizensandmembersofaglobalcommunity.
SchoolofDreamsAcademy
BriefDiscussion
TheSchoolofDreamsAcademy(SODA)isaNewMexicostateauthorizedcharterschool
locatedwithintheboundariesofValenciaCounty.Thefocusoftheschoolistoenhance
student achievement through utilization of instruction in the arts, literacy, character
educationandcommunityinvolvementthroughvariousservicelearningopportunities.
SODA offers a quality, researchbased core academic program through the virtual
learningprogram,Education2020.
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SouthValleyPreparatorySchool
BriefDiscussion
SouthValleyPreparatorySchool(SVP)proposestoservestudentsingrades6,7and8in
theSouthValleyofAlbuquerque,NewMexico.ThemissionofSVPistoprovideasmall,
safelearningcommunitysothatstudentsintheSouthValleycanengageinarigorous
and relevant academic curriculum. We believe it is here, within a unique family
framework, where individual student's strengths can be cultivated while expanding
academichorizonsandfosteringactivecitizenship.
BriefDiscussion
The mission of the Southwest Aeronautics, Mathematics, and Science Academy is to
preparestudentsingrades712,throughanIntegrativeSTEMeducationalmodelwith
an Aeronautics focus, to become selfmotivated, independent, competent, lifelong
learners in a unique 21st century global educational environment. Students will be
equippedwiththereading,writing,mathematical,scientific,technologicalandproblem
solvingskillsnecessaryforsuccessinpostsecondaryeducationandhightech,aviation
relatedcareers.
BriefDiscussion
The Southwest Intermediate Learning Center is to prepare students to become
selfmotivated, selfcontrolled, independent, competent, lifelong learners and
productive members of society. Southwest Intermediate Learning Center students will
beequippedwiththereading,writing,mathematical,technologicalandproblemsolving
skillsnecessaryforsuccessinsecondary,postsecondaryandpersonalcareerchoices.
BriefDiscussion
The Southwest Primary Learning Center is to prepare students in grades 46 for the
futurebymeetingtheiracademicneedsthroughanemphasisonthefourcorecontent
areas identified by the New Mexico Public Education Department (language arts,
mathematics, science, and social studies). Students are also prepare in meeting their
emotional and social needs by integrating the remaining five content areas (the arts,
modern,classicalandnativelanguages,healtheducation,physicaleducationandcareer
education)intothedailyschoolprogram.
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BriefDiscussion
The Southwest Secondary Learning Center is to prepare students in grades 712 to
become selfmotivated, independent, competent, lifelong learners. Students will be
equipped with the reading, writing, mathematical, technological and problem solving
skills necessary for success in postsecondary education and personal career choices.
Throughalongtermcommitmenttothismission,wewillbeknownasaschoolthatcan
offer quality alternative learning opportunities for all students. Students, parents and
community will see the school as offering challenging and creative learning
environmentsforstudents.
TaosAcademy
BriefDiscussion
TheTaosAcademy(TACS)isa21stcenturylearningcommunitythatprovides5th11th
grade students an engaging and rigorous core curriculum, highly motivating elective
classes, leadership and career training, and community involvement through our
stateoftheart 21st century learning environment. The school will be expanding to
includethe12thgradeinthe20102011schoolyears.
TaosIntegratedSchooloftheArts
BriefDiscussion
The Taos Integrated School of the Arts (TISA), a new charter school partnering with
parentsandcommunitywillprovideK8studentsintheTaosMunicipalSchoolDistrict
with the opportunity to reach their maximum potential through a standardsbased,
multicultural,thematicandartsintegratedcurriculum.TISA'sdesignisaresponsetothe
Taos community's expressed desire for a school that brings together current national
standardsforeducationwithastrongearlychildhoodemphasisinthearts.Thisdistrict
mission necessitates a smaller size classroom to allow for careful fostering of
communication and relating skills. Located inside the municipality, enrollment will be
completewith180students.
TaosInternationalCharterSchool
BriefDiscussion
TaosInternationalSchoolwasapprovedaspartofthe2012NewApplicationcycle,but
did not commence operations until fall of 2014. The school began operations with
gradesKindergarten,1,and6.TheschoolnowservesstudentsingradesKindergarten,
1,2,6,and7andwillcontinuetoaddgradesuntilitservesstudentsK8.Theschoolhas
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approximately 100 students. The schools mission is to provide K8 students an
educational program focused on inquirybased teaching and learning, through the
InternationalBaccalaureate(IB)PrimaryandMiddleYearsPrograms;theacquisitionof
languagesincludingSpanishimmersionandMandarinChinese;andthedevelopmentof
social, emotional, and rigorous academic skills necessary to function in our local,
national,andinternationalcommunity.
TheLearningCommunityCharterSchool
BriefDiscussion
The Learning Community Charter School facilitates a studentcentered, individualized
education that develops responsible, independent, adaptable, lifelong learners who
acquireeffectivethinkingandcommunicationskills.
TierraAdentro
BriefDiscussion
ThemissionofTierraAdentro:TheNewMexicoSchoolofAcademics,ArtandArtesania
(TANM) is to create an inclusive and thriving learning environment comprised of a
demographically and culturally diverse student population with a focus on academics,
art, artesania (artisanship) and the study of the cultures that comprise our rich New
Mexican heritage to ensure awareness, preservation, and progression of our cultural
legacy.
UpliftAcademy
BriefDiscussion
The Uplift Community School, in alliance with families and the community of Uplift
CommunitySchoolFamilyHandbook20122013GallupMcKinleyCounty,willprovidea
rigorous; statestandards based education to grades K8th using an Expeditionary
LearningModel(www.elschools.org)toachieveacademicsuccessforallstudents.The
Uplift Community School will meet high expectations for achievement by producing
meaningful,highqualityworkthatengagesculturaldiversity,andintegratesinquiryand
learninginliterature,science,socialstudiesandthearts,whilebuildingskillsinmath,
readingandwriting.TheUpliftCommunitySchoolwilldevelopleadershipandteamwork
throughaprocessofplanning,reflectionandrevisionandaschoolculturethatvalues
individualinitiativeandvoice.
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WalatowaHighCharterSchool
BriefDiscussion
Walatowa High Charter School (WH) Through a communityintegrated experiential
learning program, Walatowa High Charter School will prepare students to be
academically successful , while promoting Cultural awareness, community wellness,
Leadership, College and Career readiness. The principal focus of Walatowa Highs
academic program is early college preparation, including dual credit coursework. The
precollegefocusedcurriculumalsoemphasizesthevalueofthecommunitys(Jemez,Zia
andJemezValleyCorridor)culture,andtraditions.Fromtheoutset,theschoolfounders,
administrators,facultyandgovernancecouncilhaverecognizedthatyoungpeoplewho
understandtheiridentityandappreciatetheiruniqueheritagearethebestequippedto
becomeeffectivestudentsandcitizens.Studentsarechallengedwithadvancedcourses
in core subject areas and enter the dual credit program by their junior year of high
school.WHCSmaintainsstrongpartnershipswithpostsecondaryinstitutionstoensure
theimplementationofourcollegeandcareerpreparationprogram.Partnershipsuchas
University of New Mexico, Southwestern Indian Polytechnic Institute, Institute of
AmericanIndianArts,CentralNewMexicoCollege,EasternNewMexicoUniversity,New
MexicoStateUniversity,UNMLosAlamos,andArizonaUniversity.In addition,through
the Gear UP NM program, Exemplary Program and Federal Programs, Walatowa has
been able to bring parents and students together in preparation for postsecondary
enrollment.
WilliamW.&JosephineDornCharterCommunitySchool
BriefDiscussion
WilliamW.&JosephineDornCharterCommunitySchool(WWJDC)isanewk5public
community charter school. We believe that residents of the community should have
directinputonhowtheirchildrenarebeingeducated.WWJDCsacademicprogramand
school design propels student learning and achievement. Here at WWJDC we believe
thatallchildrenshouldbeabletoreadbythethirdgrade,andknowtheirmultiplication
tablesbythefifth.Webelievethatdevelopingalifelongpassionforlearningisessential
inhavingchildrensucceed.WWJDChasadoptedauniqueeducationalmodeltoteach
studentswithmorehandsonactivitiesthanstandardschools.
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FinancialAnalysisoftheComponentUnitsasaWhole
NetPosition
TheComponentUnitsnetpositionasJune30,2015was$(62.9)million.TableA4summarizes
theComponentUnitsnetpositionforthefiscalyearsendedJune30,2015and2014.
TableA4
TheComponentUnitsNetPosition
Assets:
Currentassets
Otherassets
Capitalassets,net
TotalAssets
DeferredOutflowsPensionRelated
CurrentLiabilities
Accountspayable
Accruedpayroll
Unearnedrevenue
Othercurrentliabilities
Compensatedabsences
TotalCurrentliabilities
NonCurrentLiabilities
Netpensionliability
Othernoncurrentliabilities
DeferredInflowsPensionRelated
NetPosition:
Netinvestmentincapitalassets
Restricted
Unrestricted
Totalnetposition
Totalnetpositionandliabilities
June30,2015
ComponentUnits
42,030,665
803,608
45,691,985
88,526,257
19,515,540
1,635,399
5,613,609
243,647
1,553,615
298,219
9,344,489
109,021,707
39,886,609
12,717,280
10,553,908
12,307,934
(85,790,130)
(62,928,228)
88,526,257
June30,2014
ComponentUnits
30,141,849
271,393
44,394,633
74,807,875
1,400,398
4,246,075
771,248
3,190,441
246,474
9,854,636
31,394,354
11,373,149
8,042,093
14,143,643
33,558,885
74,807,875
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STATE OF NEW MEXICO


TableA5
TheComponentUnitsChangeinNetPosition
Revenues:
ProgramRevenues
Chargesforservices
OperatingGrants&contributions
Capitalgrants&contributions
Generalrevenuesandtransfers:
Stateequalizationguarantee
Stateappropriations
Miscellaneous
Gain(loss)ondisposalofcapitalassets
TotalRevenues
June30,2015
June30,2014
ComponentUnits ComponentUnits

$
1,440,385
1,160,299
15,674,846
13,618,863
11,015,253
12,709,454
108,167,112
95,042,427
142,386
6,906,242
3,845,730
(109,594)
143,203,838
126,409,565
Expenses:
Instruction
SupportServices
OperationofNonInstructionalServices
InterestonLongTermDebt
69,106,333
53,590,134
18,055,672
43,896
140,796,035
58,773,481
47,160,192
13,920,202
553,951
120,407,826
ChangesinNetPosition
2,407,803
6,001,739
BeginningNetPosition
33,799,109
28,091,814
(Restatement)/TransferinComponentUnits
(99,135,200)
(534,668)
EndingNetPosition
$
(62,928,288)
33,558,885
ChangesinCapitalAssets
During fiscal year 2015, Component Unit net capital assets increased by $1,297,352 primarily
due to acquisition of buildings and land as well as capitalization of land and building
improvements.
June30,2014
June30,2015
Componentunit ComponentUnits
CapitalAssets
$
55,450,643
52,615,799
Accumulateddepreciation
(9,758,658) (8,221,166)
Totalcapitalassets,net
$
45,691,985
44,394,633
Capital Assets for the Component Units are presented in the Combining Statements of Net
Positionwithinthebasicfinancialstatements.
Vol. I - 44
STATE OF NEW MEXICO


ReportingtheComponentUnitsMostSignificantFunds
The Department's two kinds of funds are classified into two categories: governmental and
fiduciary.Inturn,eachcategoryisdividedintoseparatefundtypes.Thefundclassificationand
descriptionofeachexistingfundtypefollow:
Governmental funds: Governmental funds are used to account for the Department's general
governmentactivities,includingthecollectionanddisbursementofspecificorlegallyrestricted
GeneralfundTheprimaryoperatingfundoftheDepartmentaccountsforallfinancial
resources,exceptthoserequiredtobeaccountedforinotherfunds.
SpecialrevenuefundsTheseaccountfortheproceedsofspecificrevenuesourcesthat
arelegallyrestrictedtoexpendituresforspecifiedpurposes.
Capital projects funds Capital Projects Funds account for and report financial
resourcesthatarerestricted,committed,orassignedtoexpenditureforcapitaloutlays
includingtheacquisitionorconstructionofcapitalfacilitiesorothercapitalassets.
Fiduciaryfunds:FiduciaryfundsaccountforassetsheldbytheDepartmentinatrusteecapacity
orasanagentonbehalfofoutsideparties,includingothergovernments,oronbehalfofother
fundswithintheDepartment.
PrivatepurposetrustfundsThesefundsareusedtoaccountfortrustarrangements
under which principal or interest benefit specific individuals or organizations, but not
thereportinggovernment.
Agency funds These are used to account for assets held on behalf of individuals,
privateorganizations,othergovernmentand/orotherfunds.
RequestsforInformation
The financial report is designed to provide citizens, taxpayers, customers, legislators, and
investors and creditors with a general overview of the Departments finances and to
demonstratetheDepartmentsaccountabilityforthefundsitreceived.Ifyouhavequestions
aboutthisreportorneedadditionalfinancialinformationcontact:
AdministrativeServicesDivision
EducationBuilding,300DonGaspar,Room226
SantaFe,NewMexico875012786.
Vol. I - 45
BASICFINANCIALSTATEMENTS
STATEOFNEWMEXICO
STATEMENTOFNETPOSITION
June30,2015
Governmental
Activities
ComponentUnits
$
131,981,130
78,498,746
2,280,780
57,727,716
1,377,768
5,118,458
71,215
35,362,408
6,394,666
69,315
70
204,205
803,608
277,055,813
42,834,272
2,563,981
(2,058,745)
505,236
55,450,643
(9,758,658)
45,691,985
505,236
45,691,985
277,561,049
88,526,257
19,515,540
ASSETSANDDEFERREDOUTFLOWS
CURRENTASSETS:
CashandCashEquivalents
InvestmentinStateGeneralFundInvestmentPool
DuefromFederalGovernment
DuefromStateGeneralFund
DuefromOtherStateAgencies
DuefromExternalMiscellaneousParties
DuefromAgencyFund
PrepaidExpenditures
OtherAssets
TotalCurrentAssets
NONCURRENTASSETS:
CapitalAssets
TotalNonCurrentAssets
TotalAssets
DEFERREDOUTFLOWSPensionRelated
Vol. I - 46
STATEOFNEWMEXICO
STATEMENTOFNETPOSITION(CONTINUED)
June30,2015
Governmental
Activities
ComponentUnits
$121,942,608
935,669
1,635,399
5,613,609
5,547,369
20,714,814
3,714,845
6,795,962
295,485
2,950,178
1,354,392
6,532,567
10,547
41,948
243,476
352,945
298,219
1,148,346
170,783,889
9,344,489
39,886,609
52,118,548
52,118,548
109,021,707
148,908,316
222,902,437
158,252,805
DEFERREDINFLOWSPensionRelated
12,717,280
NETPOSITION
NetInvestmentinCapitalAssets
Restricted
Unrestricted
505,236
45,242,569
8,910,807
10,553,908
12,307,934
(85,790,130)
TotalNetPosition
$54,658,612
(62,928,288)
LIABILITIESANDDEFERREDINFLOWS
CURRENTLIABILITIES:
AccountsPayable
AccruedPayrollandTaxes
InterestinStateGeneralFund
InvestmentPoolOverdraft
CashOverdraft
DuetoStateGeneralFund
DuetoOtherStateAgencies
DuetoFederalGovernment
DuetoLocalEducationAuthorities
UnearnedRevenue
AccruedInterest
CompensatedAbsencesDueWithinOneYear
CurrentPortionofLongTermDebt
OtherCurrentLiabilities
TotalCurrentLiabilities
NONCURRENTLIABILITIES:
LongTermDebt
ContingencyPayableMaintenanceofState
FinancialSupport
NetPensionLiability
TotalNonCurrentLiabilities
TotalLiabilities
SeeNotestoFinancialStatements
Vol. I - 47
STATEOFNEWMEXICO
STATEMENTOFACTIVITIES
FortheYearEndedJune30,2015
Net(Expense)RevenueandChanges
inNetPosition
ProgramRevenues
Expenses
Chargesfor
Services
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
$3,134,326,599
35,801,792
5,615,815
34,450
380,021,821
29,494,705
(2,748,688,963)
(6,272,637)
$3,170,128,391
5,650,265
409,516,526
(2,754,961,600)
$69,106,333
53,590,134
989,259
48,686
11,440,557
1,984,794
57,784
(56,676,517)
(51,498,870)
18,055,672
43,896
402,440
2,249,495
10,957,469
(4,446,268)
(43,896)
$140,796,035
1,440,385
15,674,846
11,015,253
(112,665,551)
GENERALREVENUESANDTRANSFERS:
Stategeneralfundgeneralappropriations
Stategeneralfundspecialappropriations
Stateequalizationguarantee
Bondproceedsappropriations
Transfersinother
Transferinagencyfund
Transfersoutother
TransfersoutStateGeneralfundreversionsFY15
Propertytaxes
Miscellaneous
$2,637,357,558
95,485,000
46,339,111
724,818
2,000,000
(9,240,155)
(18,535,494)
108,167,112
3,909,753
2,996,489
TOTALGENERALREVENUESANDTRANSFERS
2,754,130,838
115,073,354
CHANGEINNETPOSTION
(830,762)
2,407,803
NETPOSITION,BEGINNING
RESTATEMENT(NOTE21)
55,489,374
33,799,109
(99,135,200)
NETPOSITION,BEGINNINGASRESTATED
55,489,374
(65,336,091)
NETPOSTION,ENDING
$54,658,612
(62,928,288)
Functions/Programs
PRIMARYGOVERNMENT
GOVERNMENTALACTIVITIES:
Education
HealthandWelfare
TotalPrimaryGovernment
COMPONENTUNITS
Instruction
SupportServices
OperationofNon
InstructionalServices
TotalComponentUnits
Governmental
Activities
Component
Units
Vol. I - 48
STATEOFNEWMEXICO
BALANCESHEETSGOVERNMENTALFUNDS
June30,2015
PEDGeneral
Fund
05700
DVRGeneral
Fund
50000
Disability
Determination
Services
50100
ASSETS
InvestmentPool
DuefromAgencyFund
DuefromOtherFunds
OtherAssets
$2,045,509
7,653
1,341,303
7,868,727
1,398,862
14,864
9,345
673,495
TotalAssets
$3,394,465
9,291,798
673,495
$1,135,541
319,335
1,277,905
291,344
237,799
135,081
40,380
105,620
5,101
400
1,809
3,634,969
2,502,435
404,750
41
246
1,090,986
2,697,363
7,708,462
777,917
FUNDBALANCES(DEFICIT)
Restricted
Committed
Unassigned(deficit)
TotalFundBalances(Deficit)
697,102
697,102
1,583,336
1,583,336
(104,422)
(104,422)
TOTALLIABILITIESANDFUNDBALANCES(DEFICIT)
$3,394,465
9,291,798
673,495
LIABILITIESANDFUNDBALANCES(DEFICIT):
AccountsPayable
UnearnedRevenue
DuetoOtherFunds
ContingencyPayableMaintenanceofState
FinancialSupport
OtherLiabilities
TotalLiabilities
Vol. I - 49
Federal
Departmentof
Education
Flowthrough
67300
SpecialProjects
79000
PublicSchool
Support
Flowthrough
85800
STBCapital
Outlay
89200
OtherNon
Major
Governmental
Funds
Total
Governmental
Funds
60,456,201
5,506
59,597,298
2,280,780
36,000,000
5,118,458
1,516
13,475,840
1,648,150
21,652,926
47,345,606
15,970,188
52,273
36,465
190,792
54,848
131,981,130
78,498,746
2,280,780
57,727,716
1,377,768
5,118,458
190,792
71,215
60,461,707
102,998,052
13,475,840
23,301,076
63,650,172
277,246,605
51,060,008
22,937,765
13,382
22,812,931
22,480,659
176,527
121,942,608
935,669
2,272,296
1,810,355
4,983
6,343,811
206,740
14,259,323
9,388
2,870,323
71,300
3,607,416
1,336,108
83,362
447,497
190,792
5,547,369
20,714,814
3,714,845
6,795,962
295,485
2,950,178
190,792
60,763
55,208,405
52,118,548
81,620,246
74,140
14,342,851
22,812,931
5,306,678
36,570,662
52,118,548
6,532,567
221,738,837
5,253,302
5,253,302
21,377,806
21,377,806
(867,011)
(867,011)
488,145
488,145
16,539,980
11,439,298
(899,768)
27,079,510
45,242,569
12,136,400
(1,871,201)
55,507,768
60,461,707
102,998,052
13,475,840
23,301,076
63,650,172
277,246,605
Vol. I - 50
STATEOFNEWMEXICO
RECONCILIATIONOFTHEBALANCESHEETSGOVERNMENTALFUNDS
TOTHESTATEMENTOFNETPOSITION
June30,2015
PrimaryGovernment
Governmental
Activities
TotalFundBalanceGovernmentalFunds
(GovernmentalFundBalanceSheet)
$ 55,507,768
Amountsreportedforgovernmentalactivitiesinthe
StatementofNetPositionaredifferentbecause:
Capitalassetsusedingovernmentalactivitiesarenot
financialresourcesand,therefore,arenotreportedinthe
funds.
CapitalAssets
2,563,981
(2,058,745)
TotalCapitalAssets
505,236
Someliabilitiesarenotdueandpayableinthecurrent
periodand,therefore,arenotreportedinthefund:
Compensatedabsencesduewithinoneyear
NetPositionofGovernmentalActivities(StatementofNetPosition)
(1,354,392)
$ 54,658,612
Vol. I - 51
STATEOFNEWMEXICO
STATEMENTOFREVENUES,EXPENDITURES,AND
CHANGESINFUNDBALANCES(DEFICIT)
GOVERNMENTALFUNDS
PEDGeneral
Fund
05700
DVRGeneral
Fund
50000
Disability
Determination
Services
50100
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
$
2,213,036
2,213,036
18,576,007
34,446
18,610,453
10,708,319
4
10,708,323
EXPENDITURES:
Current:
Education
HealthandWelfare
CapitalOutlay
TotalExpenditures
13,923,623
261,690
14,185,313
23,484,491
92,743
23,577,234
10,708,320
10,708,320
(DEFICIENCY)EXCESSOFREVENUES
(UNDER)OVEREXPENDITURES
(11,972,277)
(4,966,781)
OTHERFINANCINGSOURCES(USES):
StateGeneralFundAppropriations
AppropriationsFundedwithState
SeveranceBondProceeds
Transfersin:
Interfund
Other
Transfersout:
ReversionsFY15
Interfund
Other
TotalOtherFinancingSources(Uses):
NETCHANGESINFUNDBALANCES
FUNDBALANCES(DEFICIT)BEGINNINGOFYEAR
FUNDBALANCES(DEFICIT)ENDOFYEAR
11,787,300
4,467,100
208,718
514,800
(23,043)
11,972,975
(575,973)
4,405,927
698
(560,854)
696,404
2,144,190
(104,425)
$697,102
1,583,336
(104,422)
Vol. I - 52
Federal
Departmentof
Education
Flowthrough
67300
Special
Projects
79000
PublicSchool
Support
Flowthrough
85800
200,466,505
384,194
200,850,699
17,376
17,376
76,272
76,272
201,163,765
201,163,765
55,087,084
55,087,084
(313,066)
(55,069,708)
67,267,800
OtherNonMajor
Governmental
Funds
Total
Governmental
Funds
179,765,695
2,924,937
182,690,632
409,516,526
5,650,265
415,166,791
2,570,924,932
2,570,924,932
45,856,813
45,856,813
247,253,950
1,493,282
248,747,232
3,134,210,167
35,686,093
354,433
3,170,250,693
(2,570,848,660)
(45,856,813)
(66,056,600)
(2,755,083,902)
64,136,104
2,732,842,558
2,585,184,254
STBCapital
Outlay
89200
45,856,813
482,298
46,339,111
2,000,000
2,075,973
1,300
4,075,973
724,818
(3,953,928)
65,313,872
(14,259,323)
2,570,924,931
45,856,813
(299,200)
(1,500,000)
(9,240,155)
55,656,320
(18,535,494)
(2,075,973)
(9,240,155)
2,754,130,838
(313,066)
10,244,164
76,271
(10,400,280)
(953,064)
5,566,368
11,133,642
(943,282)
488,145
37,479,790
56,460,832
5,253,302
21,377,806
(867,011)
488,145
27,079,510
55,507,768
Vol. I - 53
STATEOFNEWMEXICO
RECONCILIATIONOFTHESTATEMENTOFREVENUES,EXPENDITURES
ANDCHANGESINFUNDBALANCES(DEFICIT)
OFGOVERNMENTALFUNDSTOTHESTATEMENTOFACTIVITIES
PrimaryGovernment
Governmental
Activities
NetChangeinFundBalancesTotalGovernmentalFunds
(StatementofRevenues,Expenditures,andChangesinFund
Balances/Deficit)
$(953,064)
AmountsreportedforgovernmentalactivitiesintheStatementof
Activitiesaredifferentbecause:
IntheStatementofActivities,certainoperatingexpenses
(compensatedabsencespayable)aremeasuredbytheamounts
earnedduringtheyear.IntheGovernmentalFunds,however,
expendituresfortheseitemsaremeasuredbytheamountsof
financialresourcesused(essentially,theamountsactuallypaid).The
changeintheliabilitiesfortheyearwas:
Changeincompensatedabsencespayable
(112,360)
GovernmentalFundsreportcapitaloutlaysasexpenditures.However,
intheStatementofActivities,thecostofthoseassetsisallocated
overtheirestimatedusefullivesandreportedasdepreciation
expense.
CapitalOutlay
Depreciationexpense
Excessofcapitaloutlayoverdepreciationexpense
ChangeinNetPositionofGovernmentalActivities(StatementofActivities)
354,433
(119,771)
234,662
$ (830,762)
Vol. I - 54
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesinFundBalances(Deficit)
BudgetandActualModifiedAccrualBasis
GeneralandMajorSpecialRevenueFunds
PEDGeneralFund05700
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 11,787,300
1,936,000
181,900

11,787,300
2,238,263
181,900

11,787,300
2,213,036
208,718
(23,043)

(25,227)
26,818
(23,043)
13,905,200
14,207,463
14,186,011
(21,452)
Expenditures:
Education:
PersonalServices&Employee
Benefits
ContractualServices
Other
11,443,400
1,277,200
1,184,600
11,443,400
1,277,200
1,486,863
11,442,501
1,276,677
1,466,135
899
523
20,728
TotalExpenditures
13,905,200
14,207,463
14,185,313
22,150
698
698
Revenues:
OtherRevenue
OtherFinancingSources
Reversions
TotalRevenues
NETCHANGEINFUNDBALANCE
Vol. I - 55
STATEOFNEWMEXICO
DVRGeneralFund50000
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 23,383,700
4,479,400
200,000
466,000
23,383,700
4,467,100
200,000
514,800
18,576,007
4,467,100
34,446
514,800
(4,807,693)

(165,554)

28,529,100
28,565,600
23,592,353
(4,973,247)
Expenditures:
Healthandwelfare:
Benefits
ContractualServices
Other
12,506,100
777,000
15,246,000
12,547,600
776,500
15,241,500
11,201,312
500,792
12,451,103
1,346,288
275,708
2,790,397
TotalExpenditures
28,529,100
28,565,600
24,153,207
4,412,393
(560,854)
(560,854)
Revenues:
FederalGrants
OtherRevenue
TotalRevenues
Vol. I - 56
STATEOFNEWMEXICO
DisabilityDeterminationServices50100
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 16,945,100

16,945,100

10,708,319
4
(6,236,781)
4
16,945,100
16,945,100
10,708,323
(6,236,777)
Expenditures:
Healthandwelfare:
Benefits
ContractualServices
Other
6,337,800
402,400
10,204,900
6,337,800
402,400
10,204,900
5,150,689
344,346
5,213,285
1,187,111
58,054
4,991,615
TotalExpenditures
16,945,100
16,945,100
10,708,320
6,236,780
Revenues:
FederalGrants
OtherRevenue
TotalRevenues
Vol. I - 57
STATEOFNEWMEXICO
FederalDepartmentofEducationFlowthrough67300
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 379,216,768

377,716,768

200,466,505
384,194
(177,250,263)
384,194
TotalRevenues
379,216,768
377,716,768
200,850,699
(176,866,069)
Expenditures:
Education:
ContractualServices
Other
15,372,796
363,843,972
15,372,796
362,343,972
9,190,160
191,973,605
6,182,636
170,370,367
379,216,768
377,716,768
201,163,765
176,553,003
(313,066)
(313,066)
Revenues:
FederalFunds
OtherRevenue
TotalExpenditures
Vol. I - 58
STATEOFNEWMEXICO
SpecialProjects79000
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 69,526,752

69,526,752

67,267,800
17,376
2,000,000
(3,953,928)
(2,258,952)
17,376
2,000,000
(3,953,928)
69,526,752
69,526,752
65,331,248
(4,195,504)
Expenditures:
Education:
Benefits
ContractualServices
Other
710,524
28,519,094
40,297,134
478,524
31,387,779
37,660,449
466,779
26,074,746
28,545,559
11,745
5,313,033
9,114,890
TotalExpenditures
69,526,752
69,526,752
55,087,084
14,439,668
10,244,164
10,244,164
Revenues:
OtherRevenue
Reversions
TotalRevenues
Vol. I - 59
STATEOFNEWMEXICO
PublicSchoolSupportFlowthrough85800
BudgetedAmounts
Revenues:
OtherRevenue
Reversions
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$2,585,184,254

1,500,000

2,585,184,254

1,500,000

2,585,184,254
76,272
(14,259,323)

76,272
(1,500,000)
(14,259,323)
2,586,684,254
2,586,684,254
2,571,001,203
(15,683,051)
2,586,684,254
2,586,684,254
2,570,924,932
15,759,322
2,586,684,254
2,586,684,254
2,570,924,932
15,759,322
76,271
76,271
Vol. I - 60
STATEOFNEWMEXICO
STATEMENTOFASSETSANDLIABILITIESAGENCYFUND
June30,2015
AgencyFund
57300
ASSETS
InterestinStateGeneralFundInvestmentPool
TotalAssets
LIABILITIES
DuetoOtherFunds
DuetoExternalParties
TotalLiabilities
$7,379,919
126,194
$7,506,113
$5,118,458
2,387,655
$7,506,113
Vol. I - 61
STATEOFNEWMEXICO
STATEMENTOFFIDUCIARYNETPOSITION
June30,2015
PrivatePurpose
Trusts
61600&99300
ASSETS
CertificateofDeposit
TotalAssets
LIABILITIES
TotalLiabilities
NETPOSITION
ReservedforScholarships
$45,046
20,000
65,046
$65,046
Vol. I - 62
STATEOFNEWMEXICO
STATEMENTOFCHANGESINFIDUCIARYNETPOSITION
PrivatePurpose
Trusts
61600&99300
ADDITIONS
InvestmentEarningsInterest
$173
DEDUCTIONS
ScholarshipExpense
CHANGEINNETPOSITION
173
64,873
NETPOSITION,ENDING
$65,046
Vol. I - 63
STATEOFNEWMEXICO
COMBININGSTATEMENTOFNETPOSITIONDiscretelyPresentedComponentUnits
June30,2015
Academyof
Tradeand
Technology
ACELeadership
HighSchool
AIMSatUNM
CURRENTASSETS:
Receivables
DueFromOtherGovernments
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
$318,187
990,985
2,448,901
43,950
1,500
363,637
111,813
1,102,798
74,340
5,025
2,528,266
NONCURRENTASSETS:
CapitalAssets
LandandLandImprovements
ConstructioninProcess
BuildingandImprovements
LeaseholdImprovements
Vehicles
Furniture,Fixtures,andEquipment
Less:AccumulatedDepreciation
TOTALNONCURRENTASSETS
TOTALASSETS
1,877,170
67,361
353,720
(641,537)
1,656,714
2,020,351
1,196,050
2,726,142
45,804
(54,245)
3,913,751
5,016,549
77,553
(29,269)
48,284
2,576,550
112,179
457,979
272,656
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
DuetoOtherGovernments
TOTALCURRENTLIABILITIES
113,846
32,012
16,744
70,815
233,417
53,084
82,071
1,000
233,040
369,195
26,079
186,313
175,000
387,392
NONCURRENTLIABILITIES
LongTermDebt
NetPensionLiability
TOTALNONCURRENTLIABILITIES
805,954
1,465,223
2,271,177
4,032,015
3,381,207
7,413,222
2,747,871
2,747,871
2,504,594
7,782,417
3,135,263
364,200
357,710
290,723
NETPOSITION
Restricted
779,945
110,082
(1,626,291)
(352,304)
772,604
(3,085,899)
48,284
892,777
(1,517,841)
$(736,264)
(2,665,599)
(576,780)
TOTALLIABILITIES
TOTALNETPOSITION(DEFICIT)
SeeIndependentAuditorsReportandNotestoFinancialStatements
Vol. I - 64
Albuquerque
Schoolof
Excellence
Albuquerque
SignLanguage
Academy
AldoLeopold
HighSchool
Almad'arteCharter
HighSchool
AmyBiehl
CharterSchool
AnthonyCharter
School
463,067
569,353
602,969
120,753
1,196,208
341,935
72,458
435
535,960
241,993
621
51,907
863,874
89,624
692,593
13,332
134,085
26,701
2,313
1,225,222
7,436
349,371
61,562
(33,799)
27,763
563,723
15,755
(13,400)
2,355
866,229
43,341
98,390
5,836
(67,502)
80,065
772,658
156,496
(145,570)
10,926
145,011
33,950
4,019,328
189,513
(1,200,899)
3,041,892
4,267,114
724,827
19,873
(56,114)
688,586
1,037,957
267,554
314,693
479,434
216,383
270,306
51,476
9,601
165,758
175,359
3,970
103,194
17,682
124,846
9,144
106,966
21,848
137,958
17,092
47,869
64,961
5,944
1,091
7,035
16,737
46,653
63,390
2,037,507
2,037,507
1,910,270
1,910,270
1,885,164
1,885,164
2,330,211
2,330,211
3,791,949
3,791,949
821,048
821,048
2,212,866
2,035,116
2,023,122
2,395,172
3,798,984
884,438
215,545
202,136
199,451
246,562
414,672
202,448
27,763
207,878
(1,832,775)
2,355
365,676
(1,424,361)
80,065
115,390
(1,165,936)
10,926
12,242
(2,303,508)
3,041,892
513,420
(3,231,548)
688,586
61,352
(747,391)
(1,597,134)
(1,056,330)
(970,481)
(2,280,340)
323,764
2,547
Vol. I - 65
STATEOFNEWMEXICO
COMBININGSTATEMENTOFNETPOSITIONDiscretelyPresentedComponentUnits(Continued)
June30,2015
ASKAcademy
CesarChavez
Community
School
CienAguas
International
School
$5,513,831
667,579
942,303
96,982
5,610,813
34,542
13,000
31,811
746,932
45,213
55,338
1,042,854
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
647,989
500,000
15,812
(6,252)
1,157,549
6,768,362
23,270
107,402
(111,801)
18,871
765,803
16,162
175,127
(71,398)
119,891
1,162,745
586,965
190,439
519,344
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
15,286
140,781
156,067
39,375
117,656
157,031
15,873
243,327
14,510
273,710
LongTermDebt
NetPensionLiability
6,456,542
2,127,658
8,584,200
2,100,841
2,100,841
2,620,063
2,620,063
8,740,267
2,257,872
2,893,773
225,091
222,243
277,226
NETPOSITION
Restricted
(229,652)
108,322
(1,488,701)
18,871
114,208
(1,656,952)
119,891
599,930
(2,208,731)
$(1,610,031)
(1,523,873)
(1,488,910)
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
TOTALLIABILITIES
Vol. I - 66
CoralCommunity
Charter
Cottonwood
Classical
PreparatorySchool
CreativeEducation
PreparatoryInstitute
#1
DreamDin
Charter
East
Mountain
HighSchool
EstanciaValley
ClassicalAcademy
178,265
1,688,895
76,674
17,346
1,236,652
277,869
41,643
7,262
227,170
250,594
13,298
70
894
1,953,751
104,213
180,887
219,801
237,147
188,672
2,785
1,428,109
116,943
50,004
38,118
482,934
67,289
(26,078)
41,211
268,381
3,172,430
5,770,204
34,782
(295,061)
8,682,355
10,636,106
180,887
67,127
67,127
304,274
392,715
89,752
3,743,316
586,929
(1,232,093)
3,580,619
5,008,728
24,356
728,663
34,799
(386,068)
401,750
884,684
470,252
490,588
239,151
359,571
771,489
3,927
8,046
11,973
19,238
327,424
160,000
506,662
17,033
171,363
4,988
193,384
2,436
5,645
8,081
13,210
117,398
191,575
322,183
66,634
188,065
62,821
317,520
868,975
868,975
10,450,000
4,277,577
14,727,577
2,191,562
2,191,562
697,155
3,858,206
4,555,361
84,547
2,797,511
2,882,058
880,948
15,234,239
2,384,946
8,081
4,877,544
3,199,578
91,913
452,588
231,885
408,179
295,991
41,211
14,069
(289,508)
(1,927,645)
248,839
(2,881,327)
31,857
(2,228,650)
67,127
202,701
26,365
2,691,889
290,477
(2,899,790)
254,382
143,646
(2,237,424)
(234,228)
(4,560,133)
(2,196,793)
296,193
82,576
(1,839,396)
Vol. I - 67
STATEOFNEWMEXICO
June30,2015
ExploreAcademy
GilbertLSena
CharterHigh
School
GREATAcademy
$58,361
423,186
252,084
46,282
104,643
78,407
501,593
48,316
495,000
795,400
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
104,643
162,545
(98,206)
64,339
565,932
36,889
126,612
141,669
(87,127)
218,043
1,013,443
235,070
202,977
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
33,065
174,655
29,666
237,386
10,380
125,673
136,053
21,322
11,178
72,584
105,084
LongTermDebt
NetPensionLiability
2,199,550
2,199,550
1,433,271
1,433,271
237,386
2,335,603
1,538,355
232,698
151,636
NETPOSITION
Restricted
9,921
(142,664)
64,339
94,086
(1,925,724)
218,043
507,736
(1,199,350)
$(132,743)
(1,767,299)
(473,571)
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
TOTALLIABILITIES
Vol. I - 68
HealthLeadership
HighSchool
HealthSciences
Academy
Horizon
AcademyWest
International
SchoolatMesa
delSol
J.PaulTaylor
Academy
LaAcademia
DoloresHuerta
515,177
103,431
1,591,147
538,820
17,758
269,666
189,475
27,000
731,652
87,292
30,000
220,723
337,472
1,928,619
29,850
33,473
602,143
15,107
32,865
119,788
389,454
40,777
(7,115)
33,662
765,314
81,504
(13,932)
67,572
288,295
164,000
3,424
5,124,083
29,818
(267,342)
5,053,983
6,982,602
117,836
115,311
(62,974)
170,173
772,316
17,045
(17,045)
32,865
71,745
(65,702)
6,043
395,497
1,375,389
240,377
525,059
272,213
134,155
6,362
77,479
83,841
1,140
40,309
41,449
302,262
130,800
11,844
50,000
494,906
42,915
152,997
43,345
239,257
20,920
9,601
30,521
5,212
36,019
12,129
53,360
1,526,845
1,526,845
6,585,000
3,495,892
10,080,892
2,511,083
2,511,083
1,719,128
1,719,128
1,508,016
1,508,016
1,610,686
41,449
10,575,798
2,750,340
1,749,649
1,561,376
161,514
535,302
265,702
181,886
159,571
33,662
131,816
203,025
67,572
31,300
147,974
(769,019)
1,176,215
(4,295,317)
170,173
177,055
(2,065,895)
18,150
(1,644,607)
6,043
98,832
(1,296,170)
368,503
246,846
(3,888,121)
(1,718,667)
(1,626,457)
(1,191,295)
Vol. I - 69
STATEOFNEWMEXICO
June30,2015
LaJicarita
Community
School
LaPromesaEarly
LearningCenter
LaResolana
Leadership
Academy
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
$70,380
431,568
35,445
46,318
5,350
4,045
126,093
306,128
737,696
40,422
75,867
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
461,320
194,712
88,193
(64,012)
680,213
806,306
1,402,136
9,013,755
152,070
(1,119,438)
9,448,523
10,186,219
75,867
305,083
1,122,947
139,822
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
5,707
26,063
20,113
51,883
56,907
239,989
8,074
304,970
17,947
47,393
65,340
LongTermDebt
NetPensionLiability
395,050
345,189
740,239
7,594,525
3,507,874
11,102,399
829,035
829,035
792,122
11,407,369
894,375
36,544
371,138
87,718
NETPOSITION
Restricted
265,050
18,322
(649)
1,845,924
394,269
(2,709,534)
1,095
(767,499)
$282,723
(469,341)
(766,404)
TOTALLIABILITIES
Vol. I - 70
LaTierraMontessori
SchooloftheArts
andSciences
TheMasters
Program
McCurdyCharter
School
MediaArts
Collaborative
CharterSchool
Mission
Achievementand
Success
Montessori
Elementary
School
79,823
693,332
500
457,384
527,358
543,473
76,619
6,000
162,442
22,612
715,944
465,570
12,905
478,975
76,221
21,188
554,793
159,641
11,250
698,249
22,464
565,937
41,067
7,845
(6,289)
42,623
205,065
173,100
(103,860)
69,240
785,184
119,321
(8,942)
110,379
589,354
410,000
1,581,533
78,654
(329,292)
1,740,895
2,295,688
145,086
(21,909)
123,177
821,426
497,693
22,353
(92,690)
427,356
993,293
118,574
308,571
522,933
200,849
1,309,830
412,665
52,485
52,485
127,029
127,029
9,547
246,859
62,346
318,752
10,502
129,702
72,568
212,772
11,180
221,145
6,482
238,807
7,376
118,959
126,335
572,277
572,277
1,819,549
1,819,549
4,146,346
4,146,346
655,161
2,044,925
2,700,086
2,511,083
2,511,083
2,511,654
2,511,654
624,762
1,946,578
4,465,098
2,912,858
2,749,890
2,637,989
60,571
192,485
438,709
216,328
265,691
265,745
42,623
46,570
(450,887)
69,240
25,468
(1,140,016)
110,379
223,741
(4,125,640)
1,013,166
62,168
(1,707,983)
123,177
112,564
(1,120,066)
427,356
440,893
(2,366,025)
(361,694)
(1,045,308)
(3,791,520)
(632,649)
(884,325)
(1,497,776)
Vol. I - 71
STATEOFNEWMEXICO
June30,2015
NewAmerican
School
NewAmerica
SchoolofLas
Cruces
NewMexico
Connections
Academy
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
$827,477
1,005,593
273,900
73,664
901,141
60,127
1,065,720
100,245
374,145
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
2,721,644
39,507
68,000
(626,142)
2,203,009
3,104,150
45,716
39,604
5,191
(27,880)
62,631
1,128,351
374,145
180,344
656,501
1,494,474
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
17,998
141,302
164,320
323,620
10,651
143,720
154,371
37,179
118,713
155,892
LongTermDebt
NetPensionLiability
2,027,011
2,386,698
4,413,709
2,022,675
2,022,675
1,605,584
1,605,584
4,737,329
2,177,046
1,761,476
252,520
214,016
169,899
NETPOSITION
Restricted
11,678
212,998
(1,930,031)
62,631
137,041
(805,882)
1,714
(64,470)
$(1,705,355)
(606,210)
(62,756)
TOTALLIABILITIES
Vol. I - 72
NewMexico
International
School
NewMexico
Schoolforthe
Arts
NorthValley
Academy
RalphJ.
Bunche
Academy
RedRiverValley
CharterSchool
SageMontessori
CharterSchool
205,988
556,961
773,444
136,538
19,500
99,750
32,094
19,755
257,837
131,056
12,500
14,583
715,100
334,445
1,107,889
6,595
143,133
117,885
137,385
65,350
10,000
175,100
25,193
7,458
(9,442)
23,209
281,046
153,311
(83,968)
69,343
784,443
91,474
9,911
(96,288)
5,097
1,112,986
88,405
(33,439)
54,966
198,099
189,948
206,215
(258,262)
137,901
275,286
23,261
(11,898)
11,363
186,463
275,368
451,610
248,562
64,533
86,633
21,898
137,372
5,603
164,873
4,224
152,625
156,849
5,767
384,644
390,411
432
468
900
1,091
8,599
9,756
19,446
58,107
83,668
141,775
1,431,559
1,431,559
2,345,617
2,345,617
3,333,850
3,333,850
813,629
813,629
737,743
737,743
1,178,225
1,178,225
1,596,432
2,502,466
3,724,261
814,529
757,189
1,320,000
151,447
248,156
510,663
115,003
81,862
129,349
23,209
30,302
(1,244,976)
69,343
383,795
(1,967,707)
5,097
110,360
(2,988,833)
54,966
34,624
(821,023)
137,901
38,313
(675,446)
11,363
16,837
(1,204,453)
(1,191,465)
(1,514,569)
(2,873,376)
(731,433)
(499,232)
(1,176,253)
Vol. I - 73
STATEOFNEWMEXICO
June30,2015
SchoolofDreams
Academy
SouthValley
Preparatory
School
SouthwestAeronautics,
Mathematics,andScience
Academy
$566,313
88,549
1,197,532
116,856
683,169
167,844
25,125
281,518
15,479
1,213,011
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
215,719
247,807
(284,701)
178,825
861,994
6,344
(6,344)
281,518
286,257
(78,070)
208,187
1,421,198
216,541
186,877
192,902
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
7,180
5,513
12,693
2,209
10,547
72,418
85,174
84,118
29,471
115,020
228,609
LongTermDebt
NetPensionLiability
16,539
2,645,168
2,661,707
1,472,070
1,472,070
87,110
1,465,793
1,552,903
2,674,400
1,557,244
1,781,512
557,125
155,760
155,101
NETPOSITION
Restricted
178,825
182,879
(2,514,694)
113,676
(1,358,285)
6,057
347,789
(676,359)
$(2,152,990)
(1,244,609)
(322,513)
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
TOTALLIABILITIES
Vol. I - 74
Southwest
Intermediate
LearningCenter
SouthwestPrimary
LearningCenter
Southwest
SecondaryLearning
Center
782,735
642,459
24,362
807,097
TaosAcademy
Taos
Integrated
SchoolofArts
TaosInternational
Charter
1,753,709
355,856
495,411
47,253
26,992
669,451
65,870
1,819,579
442,796
1,551
800,203
194,494
21,000
710,905
31,884
4,000
17,280
100,417
14,151
155,776
(157,863)
12,064
819,161
16,336
219,996
(157,760)
78,572
748,023
42,662
46,356
977,932
(1,009,930)
57,020
1,876,599
514,613
207,121
(85,592)
636,142
1,436,345
93,443
(14,799)
78,644
789,549
100,417
156,298
59,480
224,870
343,767
87,470
47,325
17,929
15,410
80,664
16,861
15,363
32,224
136,309
38,855
18,894
194,058
147,895
6,130
154,025
68,292
68,292
5,252
55,769
61,021
944,861
944,861
1,024,741
1,024,741
2,007,838
2,007,838
1,783,032
1,783,032
977,384
977,384
1,025,525
1,056,965
2,201,896
1,937,057
1,045,676
61,021
99,984
112,590
212,419
188,631
103,412
12,064
368,913
(531,027)
78,572
377,846
(818,470)
57,020
1,014,470
(1,384,336)
636,142
102,298
(1,084,016)
78,644
148,040
(498,753)
21,280
18,116
(150,050)
(362,052)
(312,846)
(345,576)
(272,069)
39,396
Vol. I - 75
STATEOFNEWMEXICO
June30,2015
TheLearning
Community
CharterSchool
TierraAdentro
Uplift
Community
School
CURRENTASSETS:
Receivables
OtherReceivables
Deposits
PrepaidExpenditures
DuefromAgencyFund
Other
TOTALCURRENTASSETS
$77,093
55,673
219,769
77,093
205,313
11,428
272,414
72,305
292,074
NONCURRENTASSETS:
CapitalAssets
Vehicles
TOTALASSETS
77,093
61,558
(40,691)
20,867
293,281
60,963
(14,411)
46,552
338,626
293,545
489,596
CURRENTLIABILITIES:
AccountsPayable
CashOverdraft
AccruedLiabilities
AccruedInterest
UnearnedRevenue
CompensatedAbsences
103,717
145,992
249,709
79,879
97,516
177,395
LongTermDebt
NetPensionLiability
1,909,129
1,909,129
2,294,265
2,294,265
1,405,884
1,405,884
1,909,129
2,543,974
1,583,279
404,196
242,735
148,719
NETPOSITION
Restricted
57,320
(2,293,552)
20,867
26,440
(2,247,190)
46,552
66,910
(1,017,238)
$(2,236,232)
(2,199,883)
(903,776)
TOTALLIABILITIES
Vol. I - 76
WalatowaHigh
CharterSchool
WilliamW.&Josephine
DornCharterCommunity
School
TotalCharter
Schools
847,823
72,417
35,362,408
129,350
12,789
989,962
38,021
110,438
6,394,666
69,315
213,426
204,205
70
590,182
42,834,272
8,755
(7,942)
813
990,775
27,125
(16,275)
10,850
121,288
7,880,590
684,659
39,111,522
918,611
752,870
6,102,391
(9,758,658)
45,691,985
88,526,257
181,696
127,500
19,515,540
50
7,017
17,806
24,873
760
36,461
37,221
1,635,399
10,547
5,613,609
352,945
243,476
298,219
41,948
1,148,346
9,344,489
947,714
947,714
393,688
393,688
39,886,609
109,021,707
148,908,316
972,587
430,909
158,252,805
100,261
41,631
12,717,280
813
129,846
(31,036)
10,850
8,572
(243,174)
10,553,908
12,307,934
(85,790,130)
99,623
(223,752)
(62,928,288)
Vol. I - 77
STATEOFNEWMEXICO
COMBININGSTATEMENTOFACTIVITIES
DISCRETELYPRESENTEDCOMPONENTUNITS
Academyof
Tradeand
Technology
ACELeadership
HighSchool
AIMSatUNM
$(579,031)
(1,373,609)
(1,688,836)

85,375
(493,656)
2,101
396,678
(974,830)
4,049
98,941
(1,585,846)
(1,215,196)
(2,113,529)
(1,060,037)

202,427

(1,012,769)

(2,113,529)
(1,060,037)
(35,830)
(1,680,252)
(276,401)

31,588
99,893
95,651

91,427
244,923
(1,343,902)
470,196
193,795
TotalNet(Expense)OverRevenueAllFunctions
(1,410,774)
(4,432,261)
(2,452,088)
GENERALREVENUES
StateEqualizationGuarantee
PropertyTaxes
Miscellaneous
TotalGeneralRevenues
1,426,715
99,755
42,001
1,568,471
3,060,897
91,989
264,688
3,417,574
2,795,356
2,795,356
ChangeinNetPosition
157,697
(1,014,687)
343,268
NetPosition,Beginning
Restatement
NetPosition,BeginningasRestated
906,702
(1,800,663)
(893,961)
1,591,576
(3,242,488)
(1,650,912)
1,854,889
(2,774,937)
(920,048)
NetPosition,Ending
$(736,264)
(2,665,599)
(576,780)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
OperatingGrantsandContributions
Net(Expense)OverRevenueInstruction
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
CapitalGrantsandContributions
Net(Expense)OverRevenueSupportServices
OPERATIONOFNONINSTRUCTIONALSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Net(Expense)OverRevenueOperationof
NonInstructionServices
Vol. I - 78
Albuquerque
Schoolof
Excellence
AlbuquerqueSign
Language
Academy
AldoLeopold
HighSchool
Almad'arte
CharterHigh
School
AmyBiehl
CharterSchool
AnthonyCharter
School
(1,323,352)
(991,891)
(1,008,374)
(1,283,014)
(1,620,689)
(345,152)
15,166
88,520
(1,219,666)
445,603
(546,288)
23,999
80,227
(904,148)
2,003
137,456
(1,143,555)
19,732
313,119
(1,287,838)
120
35,372
(309,660)
(1,044,729)
(1,288,466)
(918,515)
(654,428)
(1,681,404)
(442,644)
(1,044,729)
239,277
(1,049,189)

116,543

(801,972)

(654,428)

(1,681,404)
(442,644)
(263,985)
(110,356)
(160,051)
(217,043)
(261,349)
(120,818)
13,251
40,865
209,406
(463)
31,438
229,199
150,281

105,137
(54,914)
21,383

141,856
(53,804)
6,330
32,802
11,613
(210,604)
26,293
39,432
(55,093)
(2,264,858)
(1,445,196)
(1,761,034)
(1,851,787)
(3,179,846)
(807,397)
2,219,571
89,015
2,308,586
1,728,354
26,322
13,471
1,768,147
1,586,964
56,541
26,220
1,669,725
1,919,879

1,919,879
2,790,826
267,606
123,813
3,182,245
751,129
7,858
758,987
43,728
322,951
(91,309)
68,092
2,399
(48,410)
297,315
(1,938,177)
(1,640,862)
407,515
(1,786,796)
(1,379,281)
787,314
(1,666,486)
(879,172)
(13,957)
(2,334,475)
(2,348,432)
4,269,673
(3,948,308)
321,365
1,057,689
(1,006,732)
50,957
(1,597,134)
(1,056,330)
(970,481)
(2,280,340)
323,764
2,547
Vol. I - 79
STATEOFNEWMEXICO
COMBININGSTATEMENTOFACTIVITIES(CONTINUED)
ASKAcademy
CesarChavez
Community
School
CienAguas
International
School
$ (1,457,888)
(1,108,575)
(1,890,891)
15,873
110,229
(1,331,786)

167,987
(940,588)
53,507
164,922
(1,672,462)
(1,594,837)
(1,075,169)
(1,052,458)

(1,594,837)

(1,075,169)
105,837
(946,621)
(220,100)
(281,497)
(381,438)

214,422
(5,678)

49,554
211,654
(20,289)
29,047
47,694
229,754
(74,943)
(2,932,301)
(2,036,046)
(2,694,026)
GENERALREVENUES
PropertyTaxes
Miscellaneous
2,450,057
65,855
89,824
2,605,736
2,026,082
57,222
2,542
2,085,846
2,526,481
283,196
4,687
2,814,364
ChangeinNetPosition
(326,565)
49,800
120,338
Restatement
382,842
(1,666,308)
(1,283,466)
546,278
(2,119,951)
(1,573,673)
682,314
(2,291,562)
(1,609,248)
NetPosition,Ending
$ (1,610,031)
(1,523,873)
(1,488,910)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 80
CoralCommunity
Charter
Cottonwood
Classical
Preparatory
School
Creative
Education
Preparatory
Institute#1
DreamDin
Charter
EastMountain
HighSchool
EstanciaValley
Classical
Academy
(813,578)
(2,730,593)
(1,082,887)
(90,328)
(1,969,615)
(1,777,058)
126,135
(687,443)
40,455
159,097
(2,531,041)
6,752
206,273
(869,862)

92,039
1,711
172,879
431,236
(1,365,500)
176,184
(1,600,874)
(620,905)
(1,795,185)
(935,975)
(158,668)
(1,168,183)
(1,183,093)
(620,905)
281,147
(1,514,038)

(935,975)

300,000

141,332

(1,168,183)
(1,183,093)
(154,751)
(1,413,197)
(126,569)
(14,250)
(1,046,630)
(302,293)
15,266
20,303
73,625
(45,557)
597,874
(815,323)

96,760
(29,809)

9,000
(5,250)

285,959
(760,671)
258,424
(43,869)
(14,116)
(1,353,905)
(4,860,402)
(1,835,646)
137,793
(3,294,354)
(2,841,952)
1,256,562
25,798
1,282,360
3,906,445
178,949
864,052
4,949,446
1,669,422

1,669,422
158,400

158,400
2,636,371
326,768
684,598
3,647,737
2,587,866
84,231
2,672,097
(71,545)
89,044
(166,224)
296,193
353,383
(169,855)
232,182
(394,865)
(162,683)
(446,783)
(4,202,394)
(4,649,177)
119,999
(2,150,568)
(2,030,569)
3,586,663
(3,857,470)
(270,807)
457,599
(2,127,140)
(1,669,541)
(234,228)
(4,560,133)
(2,196,793)
296,193
82,576
(1,839,396)
Vol. I - 81
STATEOFNEWMEXICO
ExploreAcademy
GilbertLSena
CharterHigh
School
GREATAcademy
$(1,020,826)
(1,197,009)
(660,596)
17,540
200,695
(802,591)
2,070
137,603
(1,057,336)
9,980
75,375
(575,241)
(815,133)
(928,963)
(1,044,295)
(815,133)

(928,963)
(1,044,295)
(225,203)
(257,238)
(138,316)
6,713
184,988
(33,502)

195,419
(61,819)
130,320
(7,996)
(1,651,226)
(2,048,118)
(1,627,532)
GENERALREVENUES
PropertyTaxes
Miscellaneous
1,518,483
1,518,483
1,990,969
52,739

2,043,708
1,826,434
1,826,434
ChangeinNetPosition
(132,743)
(4,410)
198,902
Restatement
411,043
(2,173,932)
(1,762,889)
678,904
(1,351,377)
(672,473)
NetPosition,Ending
$ (132,743)
(1,767,299)
(473,571)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 82
Health
LeadershipHigh
School
HealthSciences
Academy
HorizonAcademy
West
International
SchoolatMesa
delSol
J.PaulTaylor
Academy
LaAcademiaDolores
Huerta
(736,728)
(803,642)
(2,036,716)
(1,290,434)
(1,046,028)
(826,143)
1,765
214,383
(520,580)
70,288
(733,354)
101,630
482,391
(1,452,695)

245,836
(1,044,598)
64,163
97,726
(884,139)
165,215
(660,928)
(1,188,969)
(970,994)
(1,404,216)
(856,032)
(500,449)
(586,191)
(1,188,969)
242,236
(728,758)

(1,404,216)

86,132

(769,900)

(500,449)
(586,191)
(277,415)
(291,910)
(405,412)
(322,560)
(232,123)
(214,314)
84
30,850
275,428
28,947
81,300
217,376
6,766
24,414
228,585
325,328
172,915
12,495
47,387
225,685
(36,993)
31,019
33,910
150,888
(16,306)
1,197
89,466
109,513
(14,138)
(1,680,602)
(1,455,346)
(2,683,996)
(1,851,491)
(1,400,894)
(1,261,257)
1,876,805
19,656
6,467
1,902,928
1,702,192
1,702,192
2,943,340
124,056
4,978
3,072,374
1,780,159
91,319

1,871,478
1,304,291

1,304,291
1,304,978
52,773
1,357,751
222,326
246,846
388,378
19,987
(96,603)
96,494
49,200
96,977
146,177
(429,937)
(3,846,562)
(4,276,499)
355,203
(2,093,857)
(1,738,654)
45,644
(1,575,498)
(1,529,854)
240,224
(1,528,013)
(1,287,789)
368,503
246,846
(3,888,121)
(1,718,667)
(1,626,457)
(1,191,295)
Vol. I - 83
STATEOFNEWMEXICO
LaJicarita
Community
School
LaPromesaEarly
LearningCenter
LaResolana
Leadership
Academy
$(243,857)
(2,703,449)
(426,639)

105,742
(138,115)
68,921
1,012,682
(1,621,846)
49
82,080
(344,510)
(263,656)
(1,422,125)
(495,334)

57,784
(205,872)

78,680

(1,343,445)
(495,334)
(40,286)
(1,547,179)
(131,358)

(40,286)
28,209
325,518
317,833
(875,619)
45
50,740
58,616
(21,957)
(29,780)
(414,053)
(3,840,910)
(861,801)
GENERALREVENUES
PropertyTaxes
Miscellaneous
366,971
12,813
246
380,030
2,798,769
332,558
480,000
3,611,327
912,891
912,891
ChangeinNetPosition
(34,023)
(229,583)
51,090
Restatement
294,803
21,943
316,746
2,215,106
(2,454,864)
(239,758)
(61,702)
(755,792)
(817,494)
NetPosition,Ending
$ 282,723
(469,341)
(766,404)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 84
LaTierraMontessori
SchooloftheArtsand
Sciences
TheMasters
Program
McCurdyCharter
School
MediaArts
Collaborative
CharterSchool
Mission
Achievementand
Success
Montessori
Elementary
School
(580,181)
(1,013,383)
(2,202,598)
(1,364,896)
(2,686,520)
(1,694,040)
166,782
(413,399)
77,275
(936,108)
64,052
329,083
(1,809,463)
14,713
282,322
(1,067,861)

264,708
(2,421,812)
171,597
128,632
(1,393,811)
(463,518)
(956,869)
(1,261,540)
(1,089,433)
(1,302,263)
(888,939)
46,277
(417,241)
(956,869)

(1,261,540)

(1,089,433)

79,955

(1,222,308)

(888,939)
(55,356)
(104,144)
(441,545)
(202,398)
(503,945)
(517,064)
63,810
8,454
104,144
88,669
108,859
392,337
148,320
8,616
44,890
430,011
281,119

340,820
294,417
131,292

352,642
(164,422)
(822,186)
(1,892,977)
(2,922,683)
(1,876,175)
(3,512,828)
(2,447,172)
840,804
30,126
343
871,273
1,896,035
1,896,035
3,077,377
212,889
23,641
3,313,907
2,227,076
56,397

2,283,473
3,446,874

3,446,874
2,192,674
323,697

2,516,371
49,087
3,058
391,224
407,298
(65,954)
69,199
105,968
(516,749)
(410,781)
595,464
(1,643,830)
(1,048,366)
(213,676)
(3,969,068)
(4,182,744)
1,059,075
(2,099,022)
(1,039,947)
362,224
(1,180,595)
(818,371)
737,766
(2,304,741)
(1,566,975)
(361,694)
(1,045,308)
(3,791,520)
(632,649)
(884,325)
(1,497,776)
Vol. I - 85
STATEOFNEWMEXICO
NewAmerican
School
NewAmerica
SchoolofLas
Cruces
NewMexico
Connections
Academy
$(969,373)
(967,226)
(4,546,941)

175,687
(793,686)
450
126,929
(839,847)
565
353,778
(4,192,598)
(1,358,014)
(1,556,185)
(964,070)

(1,358,014)

74,711

(1,481,474)
(964,070)
(611,316)
(257,529)
194
81,523
284,143
(245,456)
42
35,540
216,065
(5,882)
(2,397,156)
(2,327,203)
(5,156,668)
GENERALREVENUES
PropertyTaxes
Miscellaneous
2,353,757
118,664
27,960
2,500,381
2,333,973
109,065

2,443,038
4,857,367
4,857,367
ChangeinNetPosition
103,225
115,835
(299,301)
Restatement
630,887
(2,439,467)
(1,808,580)
691,051
(1,413,096)
(722,045)
134,532
102,013
236,545
NetPosition,Ending
$ (1,705,355)
(606,210)
(62,756)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 86
NewMexico
International
School
NewMexico
Schoolforthe
Arts
NorthValley
Academy
RalphJ.Bunche
Academy
RedRiverValley
CharterSchool
SageMontessori
CharterSchool
(928,838)
(1,301,166)
(2,150,207)
(6,742)
(545,104)
(996,745)
44,801
(884,037)
9,483
256,234
(1,035,449)
249
538,666
(1,611,292)

(6,742)
2,798
142,062
(400,244)
115,486
(881,259)
(654,684)
(1,048,999)
(1,069,072)
(76,425)
(343,692)
(809,741)
(654,684)
(1,048,999)

(1,069,072)

(76,425)

29,046

(314,646)
(809,741)
(138,350)
(271,731)
(556,773)
(107,356)
(138,001)
16,011
122,934
595
16,539
12,905
178,311
(63,976)
39,624
135,884
362,235
(19,030)
9,744
18,878
180,983
102,249
138,001
(1,538,126)
(2,148,424)
(2,699,394)
(83,167)
(612,641)
(1,691,000)
1,603,881
10,730
1,614,611
1,895,748
158,726
2,942
2,057,416
2,793,828

2,793,828

781
171,509
172,290
719,679

719,679
1,527,053
1,527,053
76,485
(91,008)
94,434
89,123
107,038
(163,947)
(23,809)
(1,244,141)
(1,267,950)
645,054
(2,068,615)
(1,423,561)
700,751
(3,668,561)
(2,967,810)
61,738
(882,294)
(820,556)
163,621
(769,891)
(606,270)
215,280
(1,227,586)
(1,012,306)
(1,191,465)
(1,514,569)
(2,873,376)
(731,433)
(499,232)
(1,176,253)
Vol. I - 87
STATEOFNEWMEXICO
SchoolofDreams
Academy
SouthValley
Preparatory
School
Southwest
Aeronautics,
Mathematics,
andScience
Academy
$ (1,626,094)
(826,641)
(986,397)

371,792
(1,254,302)

199,634
(627,007)
16,554
286,955
(682,888)
(1,356,752)
(546,798)
(1,047,788)

(1,356,752)

(546,798)
(1,047,788)
(435,808)
(189,188)
(266,544)

410,326
(25,482)
4,880
70,900
90,894
(22,514)
149,100
(117,444)
(2,636,536)
(1,196,319)
(1,848,120)
GENERALREVENUES
PropertyTaxes
Miscellaneous
2,700,705

3,156
2,703,861
1,106,879
44,007

1,150,886
2,182,671
81,320
14,492
2,278,483
ChangeinNetPosition
67,325
(45,433)
430,363
Restatement
895,066
(3,115,381)
(2,220,315)
206,215
(1,405,391)
(1,199,176)
647,890
(1,400,766)
(752,876)
NetPosition,Ending
$ (2,152,990)
(1,244,609)
(322,513)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 88
Southwest
Intermediate
LearningCenter
Southwest
PrimaryLearning
Center
Southwest
Secondary
LearningCenter
TaosAcademy
TaosIntegrated
SchoolofArts
TaosInternational
Charter
(431,713)
(455,795)
(1,031,837)
(1,351,820)
(729,210)
(317,961)
6,597
46,721
(378,395)
10,055
53,403
(392,337)
54,218
123,119
(854,500)
1,766
221,915
(1,128,139)
13,408
128,156
(587,646)
72,379
(245,582)
(472,724)
(421,670)
(1,131,200)
(844,415)
(525,907)
(313,990)
(472,724)
(421,670)
48,686

(1,082,514)

(844,415)

(525,907)
1,557
(312,433)
(123,024)
(77,695)
(301,364)
(147,720)
(121,072)
(88,680)
262,689
139,665
117,695
40,000

206,631
(94,733)

294,054
146,334

122,832
1,760
88,680
(711,454)
(774,007)
(2,031,747)
(1,826,220)
(1,111,793)
(558,015)
936,928
99,178
3,919
1,040,025
875,461
98,885
13,076
987,422
2,390,798
249,563
32,903
2,673,264
2,038,392
32,222

2,070,614
1,065,898
27,899

1,093,797
597,411
597,411
328,571
213,415
641,517
244,394
(17,996)
39,396
364,601
(843,222)
(478,621)
492,427
(1,067,894)
(575,467)
990,713
(1,945,076)
(954,363)
981,480
(1,571,450)
(589,970)
740,231
(994,304)
(254,073)
(150,050)
(362,052)
(312,846)
(345,576)
(272,069)
39,396
Vol. I - 89
STATEOFNEWMEXICO
TheLearning
Community
CharterSchool
TierraAdentro
UpliftCommunity
School
$ (1,635)
(1,615,865)
(863,872)

(1,635)

248,486
(1,367,379)
104,210
(759,662)
(148,877)
(1,098,287)
(607,387)

(148,877)

(1,098,287)
100,969
(506,418)
(581,873)
(288,386)
(187,256)

2,754
(579,119)
21,645
61,989
205,281
529
7,023
38,718
92,400
(49,115)
(729,631)
(2,465,137)
(1,315,195)
GENERALREVENUES
PropertyTaxes
Miscellaneous
2,181,253

2,181,253
1,145,738
1,145,738
ChangeinNetPosition
(729,631)
(283,884)
(169,457)
Restatement
744,775
(2,251,376)
(1,506,601)
312,163
(2,228,162)
(1,915,999)
178,801
(913,120)
(734,319)
NetPosition,Ending
$ (2,236,232)
(2,199,883)
(903,776)
INSTRUCTION
Expenses
ProgramRevenues:
ChargesforServices
SUPORTSERVICES
Expenses
ProgramRevenues:
ChargesforServices
Expenses
ProgramRevenues:
ChargesforServices
Vol. I - 90
WalatowaHigh
CharterSchool
WilliamW.&Josephine
DornCharterCommunity
School
TotalCharter
Schools
(527,881)
(258,224)
(69,106,333)
320,335
(207,546)
55,598
(202,626)
989,259
11,440,557
(56,676,517)
(443,165)
(307,952)
(53,590,134)
(443,165)
(307,952)
48,686
1,984,794
57,784
(51,498,870)
(115,665)
(75,765)
(18,055,672)
46,201
(69,464)
38,869
27,378
(9,518)
402,440
2,249,495
10,957,469
(4,446,268)
(43,896)
(720,175)
(520,096)
(112,665,551)
858,879
3,546
862,425
496,314
496,314
108,167,112
3,909,753
2,996,489
115,073,354
142,250
(23,782)
2,407,803
784,722
(827,349)
(42,627)
75,801
(275,771)
(199,970)
33,799,109
(99,135,200)
(65,336,091)
99,623
(223,752)
(62,928,288)
Vol. I - 91
STATEOFNEWMEXICO
COMBININGSTATEMENTSOFASSETSANDLIABILITIESAGENCYFUND
June30,2015
AcademyofTrade
andTechnology
ACELeadership
HighSchool
AIMSatUNM
Albuquerque
Schoolof
Excellence
CashinBank
AccountsReceivable
$ 7,450

1,693

27,066
21,157
TotalAssets
$ 7,450
1,693
27,066
21,157
LIABILITIES
DepositsHeldforOthers
$ 7,450
1,693
27,066
21,157
$ 7,450
1,693
27,066
21,157
ASSETS
TotalLiabilities
Vol. I - 92
Albuquerque
SignLanguage
Academy
AldoLeopold
HighSchool
Almad'arte
CharterHigh
School
AmyBiehl
CharterSchool
Anthony
CharterSchool
ASKAcademy
9,356
18,166
447

11,802

1,150

6,942
9,356
18,166
447
11,802
1,150
6,942
9,356
18,166
447
11,802
1,150
6,942
9,356
18,166
447
11,802
1,150
6,942
Vol. I - 93
STATEOFNEWMEXICO
COMBININGSTATEMENTSOFASSETSANDLIABILITIESAGENCYFUND(CONTINUED)
June30,2015
Cottonwood
Classical
Preparatory
School
CesarChavez
Community
School
CienAguas
International
School
CashinBank
AccountsReceivable
$ 5,329
279
1,201

TotalAssets
$ 5,608
1,201
LIABILITIES
$ 5,608
1,201
$ 5,608
1,201
CoralCommunity
Charter
ASSETS
TotalLiabilities
Vol. I - 94
Creative
Education
Preparatory
Institute#1
DreamDin
Charter
East
Mountain
HighSchool
EstanciaValley
Classical
Academy
ExploreAcademy
GilbertLSena
CharterHigh
School
7,473
25,921

14,925

19,076

7,473
25,921
14,925
19,076
7,473
25,921
14,925
19,076
7,473
25,921
14,925
19,076
Vol. I - 95
STATEOFNEWMEXICO
June30,2015
GREAT
Academy
Health
LeadershipHigh
School
HealthSciences
Academy
HorizonAcademy
West
ASSETS
CashinBank
AccountsReceivable
$ 1,818

697
28,360

TotalAssets
$ 1,818
697
28,360
LIABILITIES
$ 1,818
697
28,360
$ 1,818
697
28,360
TotalLiabilities
Vol. I - 96
LaPromesa
EarlyLearning
Center
LaResolana
Leadership
Academy
7,501
1,416

5,923
7,501
1,416
13
5,923
7,501
1,416
13
5,923
7,501
1,416
International
SchoolatMesa
delSol
J.PaulTaylor
Academy
LaAcademia
DoloresHuerta
5,925
13
5,923

5,925
13
5,925
5,925
LaJicarita
Community
School
Vol. I - 97
STATEOFNEWMEXICO
June30,2015
LaTierra
Montessori
Schoolofthe
Artsand
Sciences
TheMasters
Program
McCurdy
CharterSchool
MediaArts
Collaborative
CharterSchool
CashinBank
AccountsReceivable
$433

13,999

11,799
62,346
5,516

TotalAssets
$433
13,999
74,145
5,516
LIABILITIES
$433
13,999
74,145
5,516
$433
13,999
74,145
5,516
ASSETS
TotalLiabilities
Vol. I - 98
NewAmerica
School
NewAmerica
SchoolofLas
Cruces
NewMexico
Connections
Academy
NewMexico
International
School
3,239
2,444

2,253
391
66,915

1,495
3,239
2,444
2,253
391
66,915
1,495
3,239
2,444
2,253
391
66,915
1,495
3,239
2,444
2,253
391
66,915
Mission
Achievementand
Success
Montessori
Elementary
School
1,495
Vol. I - 99
STATEOFNEWMEXICO
June30,2015
RedRiver
ValleyCharter
School
NewMexico
Schoolforthe
Arts
NorthValley
Academy
CashinBank
AccountsReceivable
$ 7,790

26,826

TotalAssets
$ 7,790
26,826
LIABILITIES
$ 7,790
26,826
$ 7,790
26,826
RalphJ.Bunche
Academy
ASSETS
TotalLiabilities
Vol. I - 100
SageMontessori
CharterSchool
Schoolof
Dreams
Academy
SouthValley
Preparatory
School
Southwest
Aeronautics,
Mathematics,and
ScienceAcademy
Southwest
Intermediate
LearningCenter
Southwest
Primary
Learning
Center
13,851
11,027
5,027

1,693

1,161
869

13,851
11,027
5,027
1,693
1,161
869
13,851
11,027
5,027
1,693
1,161
869
13,851
11,027
5,027
1,693
1,161
869
Vol. I - 101
STATEOFNEWMEXICO
June30,2015
ASSETS
CashinBank
AccountsReceivable
TotalAssets
LIABILITIES
TotalLiabilities
Southwest
Secondary
Learning
Center
Taos
Academy
TaosIntegrated
SchoolofArts
Taos
International
Charter
$2,244
5,838

5,550

2,637
$2,244
5,838
5,550
2,637
$2,244
5,838
5,550
2,637
$2,244
5,838
5,550
2,637
Vol. I - 102
WilliamW.&
JosephineDornCharter
CommunitySchool
TheLearning
Community
CharterSchool
Tierra
Adentro
Uplift
Community
School
Walatowa
HighCharter
School
51,426
385
18,305

493,920
62,625
51,426
385
18,305
556,545
51,426
385
18,305
556,545
51,426
385
18,305
556,545
TotalCharter
Schools
Vol. I - 103
STATEOFNEWMEXICO
NOTESTOTHEFINANCIALSTATEMENTS
June30,2015
NATUREOFORGANIZATION
The State of New Mexico Public Education Department (Department) is responsible for
establishing and implementing standards for education and providing administrative services,
including school budgeting and reporting, and for educational and vocational rehabilitation
programs in the State of New Mexico. Specific programs focus on a number of services,
includingregulatoryenforcement,informationdissemination,andvocationalrehabilitationfor
physicallyandmentallyhandicappedcitizens,andadjudicationofdisabilityandsupplementary
securityclaimsforthegeneralvocationalrehabilitationprogram.
The elected 10member Public Education Commission (Commission) serves in an advisory

capacityinaccordancewithlawsenactedbytheNewMexicoStateLegislatureduringthe2004
RegularSession.TheCommissionhasapprovedstatecharteredstatusto60schoolsasreported
inVolumeIIIXIofthesefinancialstatements.
ThechiefexecutiveofficeroftheDepartmentoftheSecretaryofEducation,acabinetsecretary
appointed by the governor and confirmed by the New Mexico Senate. The Departments
functions are administered through the Public Education Department (PED), the Division of
VocationalRehabilitation(DVR)anditssubdivision,DisabilityDeterminationServices(DDS).
The financial statements for the Department have been prepared in accordance with
accountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica(GAAP)asappliedto
governmental units. The Governmental Accounting Standards Board (GASB) is the standard
setting body for governmental accounting and financial reporting. The GASB periodically
updates it codification of the existing Governmental Accounting and Financial Reporting
Standards, which, along with subsequent GASB pronouncements (Statements and
Interpretations), constitutes GAAP for governmental units. The more significant of these
accountingpoliciesaredescribedbelow.
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ReportingEntity.CertainGASBstatementsdefinethefinancialreportingentityasconsistingof
the primary government, organizations for which the primary government is financially
accountable,andotherorganizationsforwhichthenatureandsignificanceoftheirrelationship
withtheprimarygovernmentaresuchasexclusionwouldcausethereportingentitysfinancial
statementstobemisleadingorincomplete.
ThePublicEducationDepartmentisconsideredtobeadepartmentoftheStateofNewMexico
andisreportedassuchintheStateofNewMexicosComprehensiveAnnualFinancialReport.
Vol. I - 104
STATEOFNEWMEXICO
June30,2015
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Management has evaluated GASB Statement No. 14, The Financial Reporting Entity, GASB
StatementNo.39,DeterminingWhetherCertainOrganizationsAreComponentUnits,andGASB
StatementNo.61,TheFinancialReportingEntity:OmnibusanamendmentofGASBStatements
No. 14 and No. 34, and has determined that the State Chartered Charter Schools (Charter
Schools) meet the criteria to be presented as discretely presented component units of the
StateofNewMexico(thePrimaryGovernment).However,astheDepartmentisresponsiblefor
providing regulatory oversight of the Charter Schools, including them as discretely presented
component units in the financial statements of the Department is an acceptable financial
statementpresentation.Inaddition,theDepartmenthasconcludedthatafinancialbenefitor
burdenrelationshipexistsastheDepartmentisentitledtotheCharterSchoolsresourcesand
the Department is legally obligated or has otherwise assumed the obligation to finance the
deficits of, or provide financial support to, the Charter Schools. In further support of the
DepartmentreportingtheCharterSchoolsasdiscretelypresentedcomponentunits,atechnical
inquiry was submitted to the GASB which identified that, while the GASB standards do not
addresstheaccountingandfinancialreportingforseparatelyissuedGAAPbaseddepartmental
financial statements, consideration should be made in meeting the Departments reporting
obligationsandshouldconsiderlongestablishedpractice.InapplyingallrelevantGAAPtothe
Departments financial statements, the Charter Schools were determined to be required for
inclusion as discretely presented component units since the Charter Schools are fiscally
dependenton the Departmentand the Department is the entity with the financial benefit or
burdenrelationshipwiththeCharterSchools.Thefollowing59CharterSchoolsareconsidered
tobediscretelypresentedcomponentunitsoftheDepartment:
CottonwoodClassicalPreparatory
AcademyofTradesandTechnology
School
ACELeadershipHighSchool
CreativeEducationPreparatory
AlbuquerqueInstituteforMath&
Institute#1
Science
DreamDinCharterSchool
AlbuquerqueSignLanguage
Academy
ExploreAcademy
AldoLeopoldHighSchool
AlmaDArteCharterHighSchool
GreatAcademy
AmyBiehlCharterHighSchool
ASKAcademy
HorizonAcademyWest
J.PaulTaylorAcademy
Vol. I - 105
STATEOFNEWMEXICO
June30,2015
SageMontessoriCharterSchool
SouthwestAeronautics,
Mathematics,andScienceAcademy
LaTierraMontessoriSchoolofthe
SouthwestIntermediateLearning
ArtsandSciences
Center
MastersProgram
SouthwestSecondaryLearning
MediaArtsCollaborativeCharter
Center
School
TaosAcademy
CharterSchool
MontessoriElementarySchool
NewAmericaSchool
TheLearningCommunityCharter
School
NewAmericaSchoolofLasCruces
TierraAdentro
UpliftCommunitySchool
WalatowaCharterHighSchool
WilliamW.&JosephineDorn
NorthValleyAcademy
CharterCommunitySchool
RalphJ.BuncheAcademy
The New Mexico Public Education Commission authorizes the Charter Schools, supervise the
CharterSchoolsandoperateundertheDepartment.Financialstatementreportingincludesthe
Charter Schools in the Departments financial statements as discretely presented component
units.Additionally,CharterSchoolfoundationsareconsideredtobeblendedcomponentunits
oftheCharterSchoolsandhavebeenincludedasaseparatefundoftheCharterSchools.
The Division of Vocational Rehabilitation is a separately appropriated division of the

Department.
Basic Financial Statements. The basic financial statements include both governmentalwide
(based on the Department as a whole) and fund financial statements. The reporting model
focus is on either the Department as a whole, or its major individual funds (within the fund
financial statements). Both the governmentwide and fund financial statements (within the
basic financial statements) categorize primary activities as governmental activities. The
Department is a single purpose government entity and has no businesstype activities. In the
Vol. I - 106
STATEOFNEWMEXICO
June30,2015

governmentwide Statement of Net Position, the governmental activities are presented on a

consolidated basis and are reflected on the full accrual, economic resources measurement
focus,whichincorporateslongtermassetsandreceivablesaswellaslongtermobligations.

Separate financial statements are provided for governmental funds and fiduciary funds, even
though the latter are excluded from the governmentwide financial statements. Major
individual governmental funds are reported as separate columns in the fund financial
statements.
ThegovernmentwideStatementofActivitiesreflectsboththegrossandnetcostperfunctional
category(education,labor,transportation,etc.)thatareotherwisebeingsupportedbygeneral
government revenues. The Statement of Activities reduces gross expenses (including
depreciation) by related program revenues, operating and capital grants. The program
revenuesmustbedirectlyassociatedwiththefunctionofanactivity.TheDepartmentincludes
two functions (education and health & welfare). When an expense is incurred for purposes
when both restricted and unrestricted resources are available, the department utilizes the
restrictedresourcesfirst.
The net cost by function is normally covered by general revenues (taxes, intergovernmental
revenues,interestincome,etc.).Historically,thepreviousmodeldidnotsummarizeorpresent
netcostbyfunctionoractivity.SincetheDepartmentonlyhasoneprogram,itdoesnotemploy
indirectcostallocationinthefinancialstatements.
Provided in the Combining and Individual Fund Statements and Schedules section of the
financialstatementsisabreakdownofthegovernmentwidefinancialstatementsshowingthe
separately appropriated Division of Vocational Rehabilitation Statement of Net Position and
StatementofActivitiesseparatefromtheDepartment.Thesestatementsareforinformational
purposesonlyandarenotpresentedinthebasicfinancialstatements.
ThisgovernmentwidefocusismoreonthesustainabilityoftheDepartmentasanentityand
the change in aggregate financial position resulting from the activities of the current fiscal
period.
Thefundfinancialstatementsaresimilartothefinancialstatementspresentedintheprevious
accounting model. Emphasis here is on the major funds. Nonmajor funds (by category) are
summarizedintoasinglecolumn.
Vol. I - 107
STATEOFNEWMEXICO
June30,2015

Thegovernmentalfundstatementsarepresentedonacurrentfinancialresourcemeasurement
focusandmodifiedaccrualbasisofaccounting.Thispresentationisdeemedmoreappropriate
to (a) demonstrate legal compliance, (b) demonstrate thesource anduse of liquid resources,
and (c) demonstrate how the Departments actual expenses conform to the budget or fiscal
plan.Sincethegovernmentalfundstatementsarepresentedondifferentmeasurementfocus
andbasisofaccountingthanthegovernmentwidestatements,areconciliationispresentedon
the page following each statement, which briefly explains the adjustment necessary to
transformthefundbasedfinancialstatementsintogovernmentwidepresentation.
The Departments fiduciary funds are presented in separate statements since by definition
these assets are being held for the benefit of a third party and cannot be used to address
activitiesorobligationsofthegovernment.Asaresult,thesefundsarenotincorporatedinto
thegovernmentwidestatements.
BasisofPresentation.ThefinancialtransactionsoftheDepartmentaremaintainedonthebasis
offunds,eachofwhichareconsideredaseparatedaccountingentity.Theoperationsofeach
fundareaccountedforwhichaseparatesetofselfbalancingaccountsthatcompriseitsassets,
liabilities, fund balance, revenues, expenditures or expenses, and other financing sources or
uses.Governmentresourcesareallocatedto,andaccountedfor,inindividualfundsbasedupon
the purpose for which they are to be spent and the means by which spending activities are
controlled.
ThefundsoftheDepartmentareclassifiedintotwocategories:governmentalandfiduciary.In
turn,eachcategoryisdividedintoseparatefundtypes.Thefundclassificationsanddescriptions
ofeachexistingfundtypefollows:
Governmental Funds are used to account for the Departments general government
activities, including the collection and disbursement of specific or legally restricted
GeneralFundTheprimaryoperatingfundsoftheDepartmentaccountsforall
financial resources, except those required to be accounted for in the other
funds.
Special Revenue Funds These funds account for the proceeds of specific
revenuesourcesthatarelegallyrestrictedforspecifiedpurposes.
Vol. I - 108
STATEOFNEWMEXICO
June30,2015

FiduciaryFundsareassetsheldbythegovernmentinatrusteecapacityorasanagent
onbehalfofoutsideparties,includingothergovernments,oronbehalfofotherfunds
within the Department. Agency and trust funds are custodial in nature and do not
involvemeasurementofresultsofoperations.
PrivatePurpose Trust Funds These funds are used to account for trust
arrangements under which principal or interest benefits specific individuals or
originations,butnotthereportinggovernment.
Agency Funds These are used to account for assets held on behalf of
individuals,privateorganizations,othergovernmentaland/orotherfunds.
Themajorfundspresentedinthefinancialstatementsincludethefollowing:
GeneralFunds
PED General Fund (SHARE Fund #05700) The General Fund is the general operating
fund of the Department. It is used to account for all financial resources except those
required to be accounted for in another fund. The General Fund is funded primarily
from appropriations from the State of New Mexico General Fund. This is a reverting
fund.
DVRGeneralFund(SHAREFund#50000)Thisfundaccountsforalloperationsofthe
Division of Vocational Rehabilitation, except for those of Disability Determination
Services. This is a nonreverting fund. This fund balance is reserved for subsequent
yearsexpendituresandisconsideredmajorbecauseofitsimportance.TheDVRgeneral
fund can combine DVR SHARE fund #51900 in which the activity in this fund is
comprisedofafederaldiscretionarygrantinwhichfederalmoniesareprovidedtothe
StateofNewMexicotoprovidefinancialassistancedesignedtomaximizetheabilityof
individualsofallageswithdisabilitiesandtheirfamilymembers,guardians,advocates
and authorized representatives to obtain assistive technology devises and assistive
technologyservices.Thisprogramisfundedentirelythroughfederalfundsandisanon
revertingfundperStateAppropriationdisclosure.
SpecialRevenueFunds
Disability Determination Services (SHARE Fund #50100) This fund accounts for the
operations of the Disability Determination Services Unit. This is a nonreverting fund.
This fund balance is considered major because of its importance to the users of the
Vol. I - 109
STATEOFNEWMEXICO
June30,2015

FederalDepartmentofEducationFlowthrough(SHAREFund#67300)Thisfundisused
toaccountforvariousgrantsfromtheUnitedStatesDepartmentofEducation(USDE)to
NewMexicoSchools.TheDepartmentisresponsibleforthedisbursementofsuchfunds
in accordance with USDE requirements (Title 34, Code of Federal Regulations).
Appropriationstothisfunddonoreverttoanotherfundattheendoftheappropriation
period.
Special Projects (SHARE Fund #79000) This fund accounts for the receipts and
disbursementsofstatespecialappropriationsforavarietyofprojects,asappropriated
by the State of New Mexico Legislature, and consists of reverting and nonreverting
funds. The Special Projects Flowthrough fund was established by the Legislature (48th
Legislature,1stSession,Chapter28)andamendedbySenateBill165of2008.
Public School Support Flowthrough (SHARE Fund #85800) This fund is used in the
accounting for distributions to school districts for the State Equalization Guarantee,
TransportationandSupplementalDistributionsprograms.Financingisprovidedthrough
StateGeneralFundappropriations.Thisisarevertingfund.
STBCapitalOutlay(SHAREFund#89200).ThePublicSchoolCapitalImprovementsfund
accounts for the proceeds from bond sales issued under the provisions of the Public
School Capital Improvements Act (NMSA 1978, 22251 and 222510) and direct
appropriations funded through Severance Tax Bonds. Funds remaining after the
completionofcapitalprojectsaretobereverted.
BasisofAccounting.BasisofAccountingreferstothepointatwhichrevenuesorexpenditures/
expensesarerecognizedintheaccountsandreportedinthefinancialstatements.Itrelatesto
thetimingofthemeasurementsmade,regardlessofthemeasurementfocusapplied.
The governmentwide financial statements and the fiduciary statements are presented on an
accrual basis of accounting. The Governmental Funds in the Fund Financial Statements are
presentedonamodifiedaccrualbasis.Undertheaccrualmethodofaccounting,revenuesare
recognizedwhenearnedandexpendituresarerecognizedwhenincurred.
InthegovernmentwideStatementofNetPosition,thegovernmentalactivitiesarepresented
onaconsolidatedbasisusingtheeconomicresourcesmeasurementfocusandtheaccrualbasis
of accounting, incorporating longterm assets and receivables as well as longterm debt and
obligations.
Vol. I - 110
STATEOFNEWMEXICO
June30,2015

ModifiedAccrual.Allgovernmentalfundsareaccountedforusingthemodifiedaccrualbasisof
accounting. Under the modified accrual basis of accounting, revenues are recorded when
susceptibletoaccrual(i.e.bothmeasurableandavailable)Availablemeanscollectiblewithin
thecurrentperiodorsoonenoughthereaftertobeusedtopayliabilitiesofthecurrentperiod.
The Department defines the term available to include funds received within 60 days after
yearend.Expendituresaregenerallyrecognizedunderthemodifiedaccrualbasisofaccounting
when the related liability is incurred. The exception to this general rule is that principal and
interestongenerallongtermdebt,ifany,isrecognizedwhendue.
Revenues from grants that are restricted for specific uses are recognized as revenues and as
receivableswhentherelatedcostsareincurred.Contributionsandothermoniesheldbyother
stateandlocalagenciesarerecordedasreceivableatthetimethemoneyismadeavailableto
the specific fund. All other revenues are recognized when they are received and are not
susceptibletoaccrual.
Revenuesfromspecialappropriations(capitalprojects)thatarerestrictedforspecificusesare
recognizedasrevenuesandasreceivableswhentherelatedcostsareincurred.Contributions
and other monies held by other State and local agencies are recorded as a receivable at the
timethemoneyismadeavailabletothespecificfund.Allotherrevenuesarerecognizedwhen
theyarereceivediftheyarenotsusceptibletoaccrual.
Expendituresarerecordedasliabilitieswhenincurred.Anexceptiontothisgeneralruleisthat
accumulated unpaid annual, compensatory and certain sick leave are not accrued as current
liabilitiesbutasnoncurrentliabilitiesatthegovernmentwidelevelonly.Expenditurescharged
tofederalprogramsarerecordedutilizingthecostprinciplesdescribedbythevariousfunding
sources.
In applying the susceptible to accrual concept to intergovernmental revenues pursuant to

GASB No. 33 (as it relates to nonexchange and exchange transactions), the provider should
recognizeliabilitiesandexpensesandtherecipientshouldrecognizereceivablesandrevenues
whentheapplicableeligibilityrequirements,includingtimerequirements,aremet.Resources
transmittedbeforetheeligibilityrequirementsaremet,undermostcircumstances,shouldbe
reportedasadvancesbytheproviderandunearnedrevenuebytherecipient.
BudgetsandBudgetaryAccounting.PertheGeneralAppropriationAct,Lawsfor2007,Chapter
28,Section3,itemNForthepurposeofadministeringtheGeneralAppropriationActof2007
andapprovingoperatingbudgets,theStateofNewMexicoshallfollowmodifiedaccrualbasis
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STATEOFNEWMEXICO
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of accounting for governmental funds in accordance with the manual of model accounting
practicesissuedbytheDepartmentofFinanceandAdministration.Thebudgetisadoptedon
themodifiedaccrualbasisofaccountingexceptforaccountspayableaccruedattheendofthe
fiscalyearthatdonotgetpaidbythestatutorydeadlineperSection6104NMSA1978.Those
accounts payable that do not get paid timely must be paid out of the next years budget.
Encumbrancesrelatedtosingleyearappropriationslapseatyearend.EachyeartheLegislature
approvesmultipleyearappropriations,whichtheStateconsidersascontinuingappropriations.
The Legislature authorizes these appropriations for two to five years; however, it does not
identifytheauthorizedamountbyfiscalyear.Consequently,theappropriationisbudgetedin
itsentiretythefirstyeartheLegislatureauthorizesit.Theunexpectedportionofthebudgetis
carriedforwardasthenextyearsbeginningbudgetbalanceuntileithertheprojectperiodhas
expired or the appropriation has been fully expended. The budget presentations in these
financialstatementsareconsistentwiththisbudgetingmethodology.
Thebudgettoactualcomparisonsforthecapitalprojectsfunds,whicharebasedonmultiple
year appropriations budgets, are presented in supplemental schedules to the financial
statementsasMultiYearBudgetedSchedules.
The Department follows these procedures in establishing the budgetary data reflected in the
financialstatements:
NolaterthanSeptember1,theDepartmentsubmitstotheBudgetDivisionofDFAand
the Legislative Finance Committee (LFC) an appropriations request for the fiscal year
commencing the following July 1. The appropriation request includes proposed
expendituresandthemeansoffinancingthem.
Budget hearings are scheduled with DFA and LFC. Budget recommendations are
preparedbytheaboveagencies.Thetwobudgetrecommendationsaresubmittedfor
theupcominglegislativesession.
Budget hearings are scheduled before the Appropriations Committee of the New
Mexico House of Representatives and Senate. The final outcome of these hearings in
incorporatedintotheGeneralAppropriationsAct.
TheGovernoroftheStateofNewMexicosignstheGeneralAppropriationsActintolaw
withinthelegallyprescribedtimelimit.
NotlaterthanMay1,theDepartmentsubmitsanannualoperatingbudgetrequestto
theBudgetDivisionofDFA,whichreviewstherequestandsubsequentlyapprovesthe
budgetbasedupontheappropriationmadebytheLegislature.Allsubsequentbudget
transfersandincreasesmustbeauthorizedbytheDirectoroftheBudgetDivision.The
budgetsfortheyearendedJune30,2014havebeensoadjusted.
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STATEOFNEWMEXICO
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Legal budgetary control for expenditures and encumbrances is by category of the

appropriationunit.
Formalbudgetaryintegrationisemployedasamanagementcontroldeviceduringthe
fiscalyearfortheGeneralFundandSpecialRevenueFunds.
ThefollowingfundswerenotbudgetedinthefiscalyearendedJune30,2015 becausethere
werenoassociatedexpenditureswiththem:
AdultBasicEducation(SHAREFund#45800)
CharterSchoolStimulus(SHAREFund#47000)
ReadingMaterials(SHAREFund#58600)
SchoolLibrary(SHAREFund#66900)
StateSupportReserve(SHAREFund#85700)
DVRARRAFund(DVRSHAREFund#89000)
PublicSchoolCapitalOutlay(SHAREFund#63500)
SpecialCapitalOutlaySeveranceTaxBonds2000(SHAREFund#81300)
The unexpended and unencumbered State General Fund appropriation to the Department
lapses at year end and reverts to the State General Fund. The Department may also receive
fundingfromvariousspecialappropriations.
The language of a particular special appropriation determines when it lapses and whether or
notexpendedandunencumberedbalancesreverttotheStateGeneralFund.SeeNote16for
specificfundssubjecttoannualreversiontoStateGeneralFund.
CashDeposits.TheDepartmentisrequiredbystatutetodepositanymoneyreceivedintothe
StateTreasury.BalancesmaintainedattheendofthedayarepooledandinvestedbytheNew
Mexico State Treasurer in repurchase agreements. The New Mexico State Treasurer issues
separate financial statements that disclose the collateral pledged to secure these deposits,
categoriesofriskinvolved,andthemarketvalueofpurchasedinvestments,whichmaydiffer
fromthecashdepositedbytheDepartment.
InterFund Receivables/Payables Shortterm. During the course of operations, numerous

transactions occur among individual funds for goods provided or services rendered. These
receivablesandpayablesareclassifiedasduefromotherfundsorduetootherfundsonthe
fund balance sheets. Shortterm interfund loans are classified as interfund
receivables/payables.
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STATEOFNEWMEXICO
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Federal Grants Receivables. Amounts listed as Federal grants receivable are reimbursements
dueforpassthroughfunds.Noallowanceforuncollectibleamountshasbeenmadesincethese
areexpectedtobereimbursedinfull.
AdvancestoLocalEducationAgencies.TheDepartmentpassesthroughfederalfundingtothe
localschooldistricts.TheDepartmentnormallypaystheschoolonareimbursementbasis,but
theDepartmentalsoadvancesfundingtoschools.Schoolsarerequiredtospendtheadvanced
fundsintheschoolyearbudgeted.Astheschoolsreporttheirexpendituresonamonthlybasis,
theDepartmentrelievesthereceivableandrecordsfederalexpenditures.Unspentfundsareto
be returned to the Department, which in turn are returned to the federal grantor by the
Department.BecausetheDepartmenthastheabilitytoreducefundinginsubsequentyearsto
compensateforunspentfundsthatarereturned,theadvancesareconsideredfullcollectible.

CapitalAssets.Equipment,softwareandcomputerequipmentpurchasesoracquirediscarried
athistoricalcostorestimatedhistoricalcost.Contributedassetsarerecordedatthefairmarket
values as of the date received. Additions, improvements and other capital outlays that
significantlyextendtheusefullifeofanassetarecapitalized.Othercostsincurredforrepairs
and maintenance are expensed as incurred. The States capitalization policy (i.e., the dollar
value above which the asset acquisitions are added to the capital accounts) is $5,000. The
Departmentdoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
In fiscal year 2006, the capitalization policy changed from $1,000 to $5,000 for capitalizing
capitalassets.TheDepartmenthaselectedincludeassetsthatcostlessthan$5,000butequal
to or more than $1,000, and were purchased prior to July 1, 2005, on their capital asset
inventoryandfinancialstatements.
Depreciationonallassetsisprovidedonthestraightlinebasisovertheestimatedusefullives
withnosalvagevalue.TheDepartmentutilizesInternalRevenueServiceguidelinestoestimate
theusefullivesoncapitalassetsasfollows:
ComputingEquipmentandSoftware
3years
Equipment
5to7years
Capital assets for the governmental funds are recorded on the governmentwide financial
statements.
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STATEOFNEWMEXICO
June30,2015

Compensated Absences Payable. Accrued vacation up to 240 hours is recorded in the

Statement of Net Position at 100% of the employees hourly wage. In additions, accrued sick
leave over 600 and up to 720 hours less the amount classified as current is recorded in the
Statement of Net Position at 50% of the employees hourly wage. Compensatory time is
accruedatarateofoneandonehalfhoursforeachhourofemploymentforwhichovertime
compensationisrequiredforthoseemployeescoveredbytheFairLaborStandardsAct(FLSA).
EmployeesexemptfromcoveragebyFLSAearnonehourofcompensatorytimeforeachover
timehour.TheaccrualforcompensatedabsencesiscalculatedatpayratesineffectatJune30,
2014, and includes direct and incremental salary related payments, such as the employees
shareofsocialsecuritytaxes.
FundBalances.Inthegovernmentalfundfinancialstatements,fundbalancesareclassifiedas
nonspendable, restricted, or unrestricted (committed, assigned, or unassigned). Restricted
representsthoseportionsoffundbalancewhereconstraintsplacedontheresourcesareeither
externallyimposedorimposedbylawthroughconstitutionalprovisionsorenablinglegislation.

Committed fund balance represents amounts that can only be used for specific purposes
pursuanttoconstraintsimposedbyformalactionoftheLegislativeandExecutivebranchesof
the State. Assigned fund balance is constrained by the Legislatures and Executive Branchs
intenttobeusedforspecificpurposesorinsomecasesbylegislation.
When an expenditure is incurred for purposes for which both restricted and unrestricted
(committed, assigned or unassigned) resources are available for use, it is the Departments
policytouserestrictedresourcesfirstandthenunrestrictedresources.Anyresidualbalances
areclassifiedusingthedefaultpolicyforunrestrictedfundbalance:committedamountswould
beusedfirst,followedbyassignedamounts,andthenunassignedamounts.
NetPosition.Thegovernmentwidefinancialstatementsutilizeanetpositionpresentation.The
netpositioniscategorizedasaninvestmentincapitalassets,restrictedandunrestricted.
InvestmentinCapitalAssetsisintendedtoreflecttheportionofnetpositionwhichis
associatedwithnonliquid,capitalassetslessoutstandingcapitalassetrelateddebt.The
DepartmentdidnothaveanyrelateddebtduringtheyearendedinJune30,2015.
Restricted Net Position are liquid assets (generated from revenues and not bond
proceeds), which have thirdparty (statutory, bond covenant or granting agency)
limitations (legally restricted) on their use. The Department reported restricted net
positionatJune30,2015.
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STATEOFNEWMEXICO
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Unrestricted Net Position represents the excess of total assets over liabilities and
investmentincapitalassetsatJune30,2015.
Interfund Transactions. Interfund activity is reported as loans, services provided

reimbursements or transfers. Loans are reported as interfund receivables and payables as
appropriateandaresubjecttoeliminationuponconsideration.
Services provided, deemed to be at market value, are treated as revenues and expenditures.
Reimbursementsarewhenafundincursacost,chargesattheappropriatebenefitingfundand
reduces its related cost as a reimbursement. All other interfund transactions are treated as
transfers.Transfersbetweenfundsarenettedatthegovernmentwidelevel.
Uses of Estimates. The preparation of financial statements in conformity with accounting

principles generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial statements and the
reportedamountsofrevenuesandexpensesduringthereportingperiod.Actualresultscould
differfromthoseestimates.
UnearnedRevenues.Variousreimbursementproceduresareusedforfederalawardsreceived
by the Department. Consequently, timing differences between expenditures and program
reimbursementscanexistatanytimeduringthefiscalyear.Receivablebalancesatfiscalyear
end represent an excess of modified accrual basis expenditures over cash reimbursements
received to date. Conversely, unearned revenue balances represent an overdraw of cash
(advances)inexcessofmodifiedaccrualbasesexpenditures.Generally,receivableorunearned
revenuebalancescausedbydifferencesinthetimingofcashreimbursementsandexpenditures
willbereversedorreturnedtothegrantorintheremaininggrantperiod.
Deferred Outflows/Inflows of Resources. In addition to assets, the Statement of Financial

Position will sometimes report a separate section for deferred outflows of resources. This
separate financial statement element, deferred outflows of resources, represents a
consumptionofnetpositionthatappliestofutureperiod(s)andsowillnotberecognizedasan
outflow of resources (expense/expenditure) until then. Also, in addition to liabilities, the
Statement of Net Position will sometimes report a separate section for deferred inflows of
resources.Thisseparatefinancialstatementelement,deferredinflowsofresources,represents
anacquisitionofnetpositionthatappliestoafutureperiod(s)andsowillnotberecognizedas
aninflowofresources(revenue)untilthattime.AtJune30,2015,theDepartmentreportedno
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STATEOFNEWMEXICO
June30,2015
deferred outflows or inflows of resources while its discretely presented component units
reported deferred outflows and inflows of resources as a result of the implementation of
GASBSNo.68,AccountingandFinancialReportingforPensions.
SeveranceTaxBondsProceeds.WhiletheDepartmentreceivesseverancetaxbondproceeds
appropriated to the capital projects funds for projects specified by the legislature, it has no
obligationforrepaymentofthebondsandreportsnotliabilityforseverancetaxbondspayable
in its financial statements. These bonds are obligations of the State of New Mexicos
Comprehensive Annual Financial Report, or CAFR, issued by the State of New Mexicos
ControllersOffice.TheCAFRcanbeobtainedbycontactingtheStateControllerattheBataan
MemorialBuilding,SantaFe,NewMexico87501.

NOTE 2. STATE GENERAL FUND INVESTMENT POOL NOT RECONCILED
Compliant with statute 6103 (NMSA 1978), and to optimize state cash management and
investmentpractices,fundsofvariousstateagenciesaredepositedintheStateGeneralFund
Investment Pool (SGFIP). This pool is managed by the New Mexico State Treasurers Office
(STO).ClaimsontheSGFIParereportedasfinancialassetsbythevariousagenciesinvestingin
theSGFIP.
AgencyclaimsagainsttheSGFIPandfiduciaryresourcesheldatSTOtofulfillthoseclaimswere
notreconciledfromtheinceptionofSHARE(theStatescentralizedaccountingsystem),inJuly
2006,throughJanuary2013,whichcauseduncertaintyastothevalidityoftheclaimsandthe
abilityoffiduciaryresourcestofulfillthoseclaims.Asaresultofbusinessprocessandsystems
configuration changes made during the Cash Management Remediation Project Phase I the
Department of Finance and Administrations Financial Control Division began reconciling
transactionalactivityreportedbytheStatesfiscalagentbanktotheSHAREgeneralledgerona
pointforwardbasisbeginningFebruary1,2013.InMarch2015,theFinancialControlDivision
implemented a reconciliation process that compares statewide agency claims against the
resources held in the SGFIP at STO. This process is known as the claims to resources
reconciliation. The claims to resources reconciliation process has been successfully applied to
calendar yearend 2014 and the months from January 2015 through June 2015. While work
remains,theresultsareencouragingandthefollowingassertionscanbemade:
1. The difference between statewide agency claims against the SGFIP and fiduciary
resources held at STO to fulfill those claims has remained within a relatively narrow
rangeovertheperiodsinwhichthereconciliationprocesshasbeenused;
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STATEOFNEWMEXICO
June30,2015

NOTE 2. STATE GENERAL FUND INVESTMENT POOL NOT RECONCILED (CONTINUED)
2. AgencyclaimsontheSGFIPwillbehonoredintheirentirety.Anyadjustmentnecessary
totheclaimsbalancewillbeappliedagainsttheGeneralOperatingReserve.Noportion
of the adjustment shall be allocated to any specific agency that participates in the
SGFIP.
AspartoftheDepartmentscashcontrols,allincomingfundsandoutgoingdisbursementsare
trackedtoensuretransactionsareproperlyenteredintoSHAREandposttothegeneralledger.
Additionally, at yearend the Department performs a cash analysis on all funds to ensure the
activity affecting the cash accounts properly reflect the ending balances at yearend. The
Department also does not issue third party disbursements that may materially affect the
Departmentsfinancialstatements.
NOTE 3. INTEREST IN THE STATE GENERAL FUND INVESTMENT POOL
Statelaw(Section863NMSA1978)requirestheDepartmentscashbemanagedbytheNew
MexicoStateTreasurersOffice.Accordingly,theinvestmentsoftheDepartmentconsistofan
interest in the General Fund Investment Pool managed by the New Mexico State Treasurers
Office.
At June 30, 2015 the Department had the following interest in the State General Fund
InvestmentPool:
InvestmentinStateGeneralFundInvestmentPoolPrimaryGovernment
$131,981,130
InvestmentinStateGeneralFundInvestmentPoolAgencyFund
$7,379,919
InvestmentinStateGeneralFundInvestmentPoolPrivatePurposeTrust
$45,046
InterestRateRisk.TheNewMexicoStateTreasurersOfficehasaninvestmentpolicythatlimits
investment maturities to five years or less on allowable investments. This policy is means of
managing exposure to fair value losses arising from increasing interest rates. This policy is
reviewedandapprovedannuallybytheNewMexicoStateBoardofFinance.
CreditRisk.Creditriskistheriskthatanissuerorothercounterpartytoaninvestmentwillnot
fulfillitsobligations.TheGeneralFundInvestmentPoolisnotratedforcreditrisk.
CustodialCreditRisk.ThecashondepositwiththeNewMexicoStateTreasurersStateGeneral
FundInvestmentPoolismonitoredbytheofficeforpurposesofcollateralizationincompliance
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STATEOFNEWMEXICO
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NOTE 3. INTEREST IN THE STATE GENERAL FUND INVESTMENT POOL (CONTINUED)
with Section 61017, NMSA 1978. The Department has been authorized by the NM State
TreasurersOfficetocarryanegativecashbalance(cashoverdraft)duetotheadministrationof
thecostgrants.CashoverdraftslistedasduetoStateGeneralFundInvestmentPoolareshown
below.
InvestmentinStateGeneralFundInvestmentPoolOverdraft
$5,547,369
ForfurtherinformationregardingtheStateGeneralFundInvestmentPool,pleaseseetheState
Treasurers annual audit report and specifically refer to the GASB 40 disclosure of the
investments. That report may be obtained by writing to the New Mexico State Treasurers
Office,P.O.Box608,SantaFe,NM875040708.
NOTE 4. CASH AND INVESTMENTS
The Eva Lou Kelly Scholarship trust fund has a certificate of deposit with a local bank. The
certificate matures February 19, 2016. The interest rate is 0.7%, payable monthly. The
certificate is fully insured by the FDIC and in the name of the trust fund. Market value
approximatescost.
WashingtonFederalSavings,SantaFe,NM
$
20,000
FDICInsurance
(20,000)
UninsuredAmount
InterestRateRisk.Interestrateriskistheriskthatchangesininterestrateswilladverselyaffect
thefairvalueofaninvestment.TheDepartmentdoesnothaveaninvestmentpolicythatlimits
investment maturities as a means of managing its exposure to fair value losses arising from
increasinginterestrates.

NOTE 5. DUE FROM STATE AGENCIES
Transactionsthatoccuramongstateagenciesunderlegislativemandate,exchangetransactions
andothersituationsareaccountedforinthefinancialstatementswhichmakeuptheduefrom
anddueto(Note6)otherstateagencies.TheduefromothergovernmentsasofJune30,2015
consistsofthefollowing:
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STATEOFNEWMEXICO
June30,2015

NOTE 5. DUE FROM STATE AGENCIES (CONTINUED)
Share
Fund
No.
Agency
05700 DepartmentofFinanceandAdministration(DFA)
50000 DepartmentofHealth(DOH)
51300 TaxationandRevenueDepartment(TRD)
56800 StateTreasurersOffice(STO)
Other
Agency
No.
34100
66500
34100
33300
39400
34100
34100
34100
Amount
$
7,653
14,864
120
52,147
36,000,000
21,652,926
TotalDuefromOtherStateAgencies
$ 57,727,716
NOTE 6. DUE TO OTHER STATE AGENCIES
TotalduetootherstateagenciesatJune30,2015isasfollows:
Share
Fund
No.
05700
00500
50000
67200
67200
81600
84400
84400
84400
Agency
EducationalRetirementBoard
DepartmentofFinanceandAdministration
DepartmentofPublicSafety
DepartmentofMilitaryAffairs
Children,YouthandFamiliesDepartment
NewMexicoStateBoardofFinance
AttorneyGeneralsOffice
Children,YouthandFamiliesDepartment
DepartmentofHealth
Total
Other
Agency
No.
35200
34100
79000
70500
69000
34100
30500
69000
66500
Amount

$
105,620
56
1,809
6,000
32,553
24,347
55,397
3,089,835
399,228

$ 3,714,845
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STATEOFNEWMEXICO
June30,2015
NOTE 7. INTERFUND BALANCES
ThefollowingisananalysisofamountsshownasduefromandduetootherfundsatJune30,
2015:
AmountsDuefromOther
Funds
AmountsDuetoOtherFunds
ShareFund
No.
57300
88900
56200
67200
Amount

$ 5,118,458
600
4,005
186,187
5,309,250
ShareFund
No.
79000
20550
84400
67400
Amount

$ 5,118,458
600
4,005
186,187
5,309,250
The interfund balances are a result of reimbursement owed between the funds, and are
expectedtobepaidwithinoneyear.
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STATEOFNEWMEXICO
June30,2015
NOTE 8. CAPITAL ASSETS
AsummaryofchangesincapitalassetsatJune30,2015isasfollows:
Balance
June30,
2014
Adjustment
Additions
PED:
Equipment
ArtAcquisitions
TotalPED

$
4,441,742
5,800
4,447,542
TotalDepartment:
Equipment
ArtAcquisitions
Subtotal
AccumulatedDepreciation:
PEDEquipment
DVR/DDSEquipment
Subtotal
Total
5,517,432
5,800
5,523,232
354,433
354,433
(4,340,122)
(912,536)
(5,252,658)
1,168,433

(3,313,684)

(3,313,684)
2,558,181
5,800
2,563,981
(1,082,293)
(976,452)
(2,058,745)
234,662
3,313,684
3,313,684
270,574
(55,855)
(63,916)
(119,771)
92,743

(3,313,684)
1,389,748

5,800
(3,313,684)
1,395,548
261,690
261,690
1,075,690
Deletions
DVR/DDS:
Equipment
Balance
June30,
2015
505,236
DepreciationexpenseswerechargedtofunctionsintheDepartmentfortheyearendedJune
30,2015areasfollows:
Education
HealthandWelfare
55,855
63,916
TotalDepartment
119,771
NOTE 9. COMPENSATED ABSENCES
AsummaryofchangesincompensatedabsencesfortheyearendedJune30,2015isasfollows:
Balance
June30,2014
PED
DVR/DDS
Total
Deletions
662,377
579,655
Increase
Balance
June30,2015
840,172
1,123,723
1,242,032
1,963,895
(779,595)
(1,071,940)
(1,851,535)
Current
Portion
722,954
631,438
722,954
631,438
1,354,392
1,354,392
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STATEOFNEWMEXICO
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NOTE 9. COMPENSATED ABSENCES (CONTINUED)
PEDcompensatedabsencesaretypicallyliquidatedwithSHAREfundNo.05700andNo.84400
resources.DVR/DDScompensatedabsencesaretypicallyliquidatedwithSHAREfundNo.50000
andNo.50100resources.Thesecompensatedabsencesbalancesarepaidwithinoneyear.
NOTE 10. SPECIAL, SUPPLEMENTAL, AND DEFICIENCY APPROPRIATIONS
AsummaryoftheSpecialappropriationsincludedinfund79000isasfollows:
Appropriation
Period
Appropriation
Amount
Expenditure
toDate
Reserve
Fund
Balance
PED
Laws2013,Chapter
227,Sec.5&6
20132015
$
3,400,000 (3,400,000)
Laws2013,Chapter
227,Sec.5&6
20132015
5,800,000 (5,800,000)
Laws2013,Chapter
227,Sec.5&6
20132015
100,000
(100,000)
Laws2013,Chapter
227,Sec.5&6
20132015
5,200,000 (5,200,000)
Laws2013,Chapter
227,Sec.5&6
20132015
2,000,000 (2,000,000)
Laws2013,Chapter
20132015
1,500,000 (1,500,000)
227,Sec.5&6
Laws2014,Chapter
63,Sec.5,Item72
20142016
2,500,000 (2,474,301)
Laws2014,Chapter
63,Sec.5,Item73
20142016
3,000,000 (2,862,848)
Laws2014,Chapter
63,Sec.5,Item74
20142016
5,000,000 (5,000,000)
Laws2014,Chapter
20142016
3,000,000 (3,000,000)
63,Sec.5,Item75
Laws2014,Chapter
63,Sec.5,Item76
20142016
100,000
(66,981)
Total2015PriortoMOE
31,600,000
(31,404,130)
SpecialandDeficiencyAppropriationsMaintenanceofStateFinancialSupport (MOE)
Laws2013,Chapter
227,Sec.5&6
20132015
20,000,000 (16,881,452) (3,118,548)

Laws2013,Chapter
227,Sec.4&5
20132014
10,000,000

Laws2013,Ch.191 NonReverting
36,000,000
Laws2014,Chapter
(3,000,000)
63,Sec.5
20142015
3,000,000
Total2015MOE
69,000,000 (16,881,452) (6,118,548)
Total2015
100,600,000
(48,285,582)
Remaining
Balanceto
Expend
25,699
137,152
33,019
195,870
10,000,000
36,000,000
46,000,000
(6,118,548) 46,195,870
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STATEOFNEWMEXICO
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(CONTINUED)

SPECIAL APPROPRIATIONS HOUSE BILL2
$2,500,000 To the teacher professional development fund for professional development and
training on implementation of common core state standards. The appropriation is from the
separate account of the appropriation contingency fund dedicated for the purpose of
implementing and maintaining educational reforms created in Section 12 of Chapter 114 of
Laws2004.
$3,000,000Foremergencysupporttoschooldistrictsexperiencingshortfalls.Allrequirements
for distribution of funds shall be in accordance with Section 22830 NMSA 1978.
Notwithstanding the provisions of Section 66544 NMSA 1978 or other substantive law, the
otherstatefundsappropriationisfrombalancesreceivedbythepubliceducationdepartment
pursuanttoSection66544NMSA1978.
$5,000,000 To the instructional material fund. The general fund appropriation is from the
separate account of the appropriation contingency fund dedicated for the purpose of
implementing and maintaining educational reforms created in Section 12 of Chapter 144 of
Laws2004.Theotherstatefundsappropriationincludesninetyseventhousandfourhundred
fifteen dollars ($97,415) from the educational technology deficiency correction fund, six
hundred seventyeight thousand seven hundred five dollars ($678,705) from the educational
technology fund and seven hundred twentythree thousand eight hundred eighty dollars
($723,880)fromtheschoolsinneedofimprovementfund.
$3,000,000Toensurethestatemakessufficientfundsavailableinfiscalyears2014and2015to
meet the special education maintenanceofeffort requirements pursuant to the federal
IndividualswithDisabilitiesEducationAct.Forfiscalyear2014,iftheappropriationscontained
in Subsection K of Section 4 of Chapter 227 of Laws 2013, the twenty million dollar
($20,000,000) appropriation contained in Paragraph 73 of Section 5 of Chapter 227 of Laws
2013,thesixteenmilliondollar($16,000,000)transferauthorizedinSubsectionKofSection4of
Chapter 227 of Laws 2013 and the sixteen million dollar ($16,000,000) appropriation made
pursuanttoChapter191ofLaws2013areinsufficienttomeetthelevelofstatesupport,the
publiceducationdepartmentmaydistributetoschooldistrictsandcharterschoolstheamount
ofthisappropriationnecessarytomeetmaintenanceofeffortrequirementsinfiscalyear2014.
For fiscal year 2015, if the appropriation to the state equalization guarantee distribution
containedinSubsectionKofSection4oftheGeneralAppropriationActof2014isinsufficient
tomeetthelevelofstatesupportrequired,thepubliceducationdepartmentmaydistributeto
Vol. I - 124
STATEOFNEWMEXICO
June30,2015

(CONTINUED)

school districts and charter schools the amount of this appropriation necessary to meet
maintenanceofeffort requirements in fiscal year 2015. Any distribution made from this
appropriation shall be made in the same manner and on the same basis as the state
equalizationguaranteedistribution.
$100,000 For a nonprofit educational association whose principal purpose is the regulation,
direction,administrationandsupervisionofinterscholasticactivitiesinNewMexicotoincrease
participationinstudentactivitiesandathleticsstatewideandstudyhowathleticsandactivities
affectstudentacademicperformance.

Per the 2012 Laws, Chapter 19, the Division of Vocational Rehabilitation received a special
appropriation to match with federal funds to support and enhance deaf and hard of hearing
rehabilitationservices.
Lawsof2014,
Chapter63,Sec.4
Appropriation
Appropriation
Period
Amount
2015
$
466,000
Expenditure
Date
466,000
Reserve
fund
Balance
Remaining
Balance
ToExpend

NOTE 11. COMMITMENTS AND CONTINGENCIES

Amountsreceivedorreceivablefromgrantoragenciesaresubjecttoauditandadjustmentby
grantoragencies,principallythefederalgovernment.Anydisallowedclaims,includingaccounts
already collected, may constitute a liability of the applicable funds. The amount, if any, of
expenditures which may be disallowed by the grantor cannot be determined at this time,
althoughtheDepartmentexpectssuchamounts,ifany,tobeimmaterial.
TheStatedidnotmeetitsrequiredleveloffinancialsupportfortheSpecialEducationClusterof
programs for fiscal years 2011 and 2012. As a result, the Department may have a onetime
reduction of future federal funding. Managements estimate of the potential onetime
reductioninfederalfundingrangesfrom$0to$63,491,592.
The MOE shortfall for fiscal years 2011 is under appeal and is currently still undergoing final
determinationofMOEbytheU.S.DepartmentofEducationatJune30,2014.Concerningthe
potential shortfall of MOE the Department has booked any potential liabilities in accordance
GAAPandGASB.InFY2015,theDepartmentbelievesithasfullyfundeditsMOE.
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STATEOFNEWMEXICO
June30,2015
NOTE 11. COMMITMENTS AND CONTINGENCIES (CONTINUED)
Litigation. There are several pending and/or threatened lawsuits in which the Department is
involved.Generally,thesemattersareinsuredbytheRiskManagementDivision(RMD)ofthe
New Mexico General Services Department. The Departments attorneys estimate that the
potentialclaimsagainsttheDepartmentnotcoveredbyinsuranceresultingfromsuchlitigation
wouldnotmateriallyaffectthefinancialstatementsoftheDepartment.
Thefollowingisthelistofpendingorthreatenedlitigatedcases:
1. Zuni Public School District v. NMPED, D1113CV201000276 (11th Judicial District

Court)
a. InApril2010,theDepartmentwassuedforimproperlytakingcreditsagainstthe
receipt of federal impact aid funds before the Department received its annual
certification that it had met disparity testing per 20 USC 7709(b). The
Department is being represented by outside counsel and plans to contest the
casevigorouslybecauseDepartmentbelievesthePlaintiffsufferednodamages.
Whilethepotentialexposureislarge,theprobabilityofanunfavorableoutcome
is low because the Plaintiff and prospective plaintiffs suffered no damages.
NMPED prevailed on its motion for summary judgment, and the matter is
pendingonappeal.
2. InreNM(MSFSAdministrativeAppeal),13410(BeforetheUnitedStatesDepartment
ofEducation)
a. ThisisanappealofUSDE'srefusaltograntawaivertoNewMexicooftheMSFS
requirementsunderIDEA,disputingthecalculationmethodologyforMSFSand
theapplicationoftheflexibilitytotheMSFSrequirementprovidedby300.230.
NojudgmentwouldresultindamagesagainsttheDepartment.
3. Yazzie v. NM, D1113CV201400116; Martinez v. NM, D101CV201400793

(Consolidatedin1stJudicialDistrictCourt)
a. The Department was named as a party in two constitutional challenges to
educational funding. The cases are currently in discovery. The Department is
represented by privatecounsel and intends tocontest thecase vigorously. No
judgmentwouldresultindamagesagainsttheDepartment.
4. AFTERMATHv.SkanderaandPED,D202CV201505001(2ndJudicialDistrictCourt)
a. TheDepartmentwassuedbyacommunitybasedorganizationallegingbreachof
contract. The case is currently in discovery. The Department intends to
vigorouslycontestthecase.Theriskofanadversedecisionislow.
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STATEOFNEWMEXICO
June30,2015
5. Davis v. Cesar Chavez Community School, D101CV201400136 (1st Judicial District

Court)
a. TheDepartmentwasnamedinalawsuitregardinganincidentthatoccurreda
stateauthorized charter school. The Department is represented by outside
counsel and intends to vigorously contest the case. The risk of an adverse
decisionislow.
6. Rosella Varela, et. al., v. Eva Valdez, et. al., D101CV201500779 (1st Judicial District
Court)
a. The Department was named in a lawsuit regarding a school bus accident. The
Departmentisrepresentedbyoutsidecounselandintendstovigorouslycontest
thecase.TheDepartmenthasfileddispositivemotionsinthematter.Theriskof
anadversedecisionislow.
b.
7. Maresv.NMPED,D101CV201500838(1stJudicialDistrictCourt)
a. TheDepartmentwasnamedinalawsuitallegingemploymentdiscriminationby
a former employee. The Department is being represented by outside counsel.
The case is currently in discovery. The Department is vigorously defending the
case.
Stateauthorizedcharteredschoolsdebt.Ifstateauthorizedcharteredschoolsdebtsbecomein
violationofdebtconventtermsandconditions,inadditiontoinsufficientfundsfrombanking
institutionsbecomethedirectresponsibilityoftheDepartment.TheDepartmentmaybecome
obligatedtosatisfystateauthorizedcharteredschoolsdebtsonlytotheextentofthedebtand
forthepurposeofguaranteeingpaymentoftheinsufficientfundswithinthestatefundsthat
havedeficits.
LeaseCommitments.TheDepartmenthascommitmentsforofficespaceandequipmentunder
operating lease agreements. Lease terms for office space range from one to 11 years and
generally contain renewal options. Lease terms for office equipment range from one to five
years. Rental expenditures for the year ended June 30, 2015, totaled $2,739,409. Future
minimumleasepaymentsareasfollowsandarebasedontheactualleasetermsandhavenot
beendiscounted:
Vol. I - 127
STATEOFNEWMEXICO
June30,2015
YearEndingJune30,
PED
DVR/DDS
Total
2016
315,892
2,527,676
2,843,568
2017
315,892
2,521,312
2,837,204
2018
315,892
2,326,140
2,642,032
2019
315,892
1,637,012
1,952,904
2020
315,892
706,110
1,022,002
20212025
1,417,129
334,360
1,751,489
Total
$ 2,996,589
10,052,610
13,049,199

NOTE 12. PENSION PLAN PUBLIC EMPLOYEES RETIREMENT ASSOCIATION AND
EDUCATIONAL RETIREMENT BOARD
Compliant with the requirements of Government Accounting Standards Board Statement No.
68,AccountingandFinancialReportingforPensions,theStateofNewMexicohasimplemented
thestandardforthefiscalyearendingJune30,2015.
The Department, as part of the primary government of the State of New Mexico, is a
contributing employer to two costsharing multiple employer defined benefit pension plans
administered by the Public Employees Retirement Association (PERA) and Educational
RetirementBoard(ERB).Disclosurerequirementsforgovernmentalfundsapplytotheprimary
government as a whole, and as such, this information will be presented in the Component
Appropriation funds Annual Financial Report (General Fund) and the Comprehensive Annual
FinancialReport(CAFR)oftheStateofNewMexico.
The information concerning the net pension liability, pension expense, and pensionrelated
deferredinflowsandoutflowsoftheprimarygovernmentwillbecontainedintheGeneralFund
andtheCAFRandwillbeavailable,whenissued,fromtheOfficeoftheStateController,Room
166,BataanMemorialBuilding,407GalisteoStreet,SantaFe,NewMexico87501.
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STATEOFNEWMEXICO
June30,2015
NOTE 13. PENSION PLAN EDUCATIONAL RETIREMENT BOARD (DISCRETELY

PRESENTED COMPONENT UNITS)
PlanDescription.ERBwascreatedbytheStatesEducationalRetirementAct,Section22111
through 221152, NMSA 1978, as amended, to administer the New Mexico Educational
Employees Retirement Plan (Plan). The Plan is a costsharing, multiple employer plan
established to provide retirement and disability benefits for certified teachers and other
employeesofthestatespublicschools,institutionsofhigherlearning,andagenciesproviding
educationalprograms.ThePlanisapensiontrustfundoftheStateofNewMexico.TheNew
Mexicolegislaturehastheauthoritytosetoramendcontributionrates.
ERBissuesapubliclyavailablefinancialreportandacomprehensiveannualfinancialreportthat
canbeobtainedatwww.nmerb.org.
BenefitsProvided.Amembersretirementbenefitisdeterminedbyaformulawhichincludes
threecomponentparts:themembersfinalaveragesalary(FAS),thenumberofyearsofservice
credit,anda0.0235multiplier.TheFASistheaverageofthememberssalariesforthelastfive
yearsofserviceorotherconsecutivefiveyearperiod,whicheverisgreater.Abriefsummaryof
Plancoverageprovisionsisasfollows:
For members employed before July 1, 2010, a member is eligible to retire when one of the
followingeventsoccurs:themembersageandearnedservicecreditadduptothesumof75or
more;thememberisatleastsixtyfiveyearsofageandhasfiveormoreyearsofearnedservice
credit;orthememberhasservicecredittotaling25yearsormore.
Chapter 288, Laws of 2009 changed the eligibility requirements for new members first
employed on or after July 1, 2010. The eligibility for a member who either becomes a new
member on or after July 1, 2010, or at any time prior to that date refunded all member
contributions and then became, or becomes, reemployed after that date as follows: the
members age andearned servicecredit add up to the sum of 80 or more; themember isat
least sixtyseven years of age and has five or more years of earned service credit; or the
memberhasservicecredittotaling30yearsormore.
Thebenefitispaidasamonthlylifeannuitywithaguaranteethat,ifthepaymentsmadedonot
exceedthemembersaccumulatedcontributionsplusaccumulatedinterest,determinedasof
the date of retirement, the balance will be paid in a lump sum to the members surviving
beneficiary. There are three benefit options available: single life annuity; single life annuity
monthlybenefitreducedtoprovidefora100%survivorsbenefit;orsinglelifeannuitymonthly
benefitisreducedtoprovidefora50%survivorsbenefit.
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STATEOFNEWMEXICO
June30,2015

PRESENTED COMPONENT UNITS) (CONTINUED)
Retired members and surviving beneficiaries receiving benefits receive an automatic cost of
livingadjustment(COLA)totheirbenefiteachJuly1,beginningintheyearthememberattains
orwouldhaveattainedage65oronJuly1oftheyearfollowingthemembersretirementdate,
whichever is later. Prior to June 30, 2013 the COLA adjustment was equal to onehalf the
changeintheConsumerPriceIndex(CPI),exceptthattheCOLAshallnotexceed4%norbeless
than 2%, unless the change in CPI is less than 2%, in which case, the Cola would equal the
changeintheCPI,butneverlessthanzero.AsofJuly1,2013,forcurrentandfutureretirees
the COLA was immediately reduced until the plan is 100% funded. The COLA reduction was
basedonthemedianretirementbenefitofallretireesexcludingdisabilityretirements.Retirees
withbenefitsatorbelowthemedianandwith25ormoreyearsofservicecreditwillhavea
10%COLAreduction;theiraverageCOLAwillbe1.8%.Allotherretireeswillhavea20%COLA
reduction; their average COLA will be 1.6%. Once the funding is greater than 90%, the COLA
reductions will decrease. The retirees with benefits at or below the median and with 25 or
moreyearsofservicecreditwillhavea5%COLAreduction;theiraverageCOLAwillbe1.9%.All
other retirees will have a 10% COLA reduction; their average will be 1.8%. Members on
disabilityretirementareentitledtoaCOLAcommencingonJuly1ofthethirdfullyearfollowing
disabilityretirement.Amemberonregularretirementwhocanproveretirementbecauseofa
disabilitymayqualifyforaCOLAbeginningJuly1inthethirdfullyearofretirement.
Amemberiseligibleforadisabilitybenefitprovided(a)heorshehascreditforatleast10years
ofservice,and(b)thedisabilityisapprovedbyERB.Themonthlybenefitisequalto2%ofFAS
times years of service, but not less than the smaller of (a) onethird of FAS or (b) 2% of FAS
timesyearofserviceprojectedtoage60.Thedisabilitybenefitcommencesimmediatelyupon
the members retirement. Disability benefits are payable as a monthly life annuity, with a
guaranteethat,ifthepaymentsmadedonotexceedthemembersaccumulatedcontributions,
determined as of the date of retirement, the balance will be paid in a lump sum to the
memberssurvivingbeneficiary.Ifthedisabledmembersurvivestoage60,theregularoptional
formsofpaymentarethenapplied.Amemberwithfiveormoreyearsofearnedservicecredit
on deferred status may retire on disability retirement when eligible under the Rule of 75 or
whenthememberattainsage65.
Contributions. See the individual discretely presented component units notes to the financial
statements in volumes 3 through 11 for contribution requirements of defined benefit plan
membersasestablishedinstatestatuteunderChapter10,Article11,NMSA1978.
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STATEOFNEWMEXICO
June30,2015

Pensionliabilities,pensionexpense,anddeferredoutflowsofresourcesanddeferredinflows
of resources related to pensions. See the individual discretely presented component units
notestothefinancialstatementsinvolumes3through11fordisclosureofeachcharterschools
net pension liability, related pension expense, deferred outflows of resources and deferred
inflowsofresources.
Actuarial Assumptions. As described above, the total ERB pension liability and net pension
liability are based on an actuarial valuation performed as of June 30, 2013. The total ERB
pension liability was rolled forward from the valuation date to the Plan year ending June 30,
2014usinggenerallyacceptedactuarialprinciples.Therewerenosignificanteventsorchanges
in benefit provisions that required an adjustment to the rollforward liabilities as of June 30,
2014. Specifically, the liabilities measured as of June 30, 2014 incorporate the following
assumptions:
1. All members with an annual salary of more than $20,000 will contribute 10.10%
duringthefiscalyearendingJune30,2014and10.7%thereafter.
2. Members hired after June 30, 2013 will have an actuarially reduced retirement
benefitiftheyretirebeforeage55andtheirCOLAwillbedeferreduntilage67.
3. COLAsformostretireesarereduceduntilERBattainsa100%fundedstatus.
4. TheseassumptionswereadoptedbyERBonApril26,2013inconjunctionwiththe
sixyearexperiencestudyperiodendingJune30,2012.

For the purposes of projecting future benefits, it is assumed that the full COLA is paid in all
future years. The actuarial methods and assumptions used to determine contribution rates
includedinthemeasurementareasfollows:
ActuarialCostMethod
EntryAgeNormal
AmortizationMethod
LevelPercentageofPayroll
RemainingPeriod
Amortized closed 30 years from June 30, 2012
AssetValuationMethod
5 year smoothed market for funding valuation
Inflation
3.00%
toJune30,2042
(fairvalueforfinancialvaluation)
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STATEOFNEWMEXICO
June30,2015

SalaryIncreases
Composition: 3% inflation, plus 1.25%
productivity increase rate, plus step rate
promotional increases for members with less
than10yearsofservice
InvestmentRateofReturn 7.75%
RetirementAge
Experiencebasedtableofageandservicerates
Mortality
90% of RP2000 Combined Mortality Table with
WhiteCollarAdjustmentprojectedto2014using
ScaleAA(oneyearsetbackforfemales)

The longterm expected rate of return on pension plan investments is determined annually
usingabuildingblockapproachthatincludesthefollowing:1)rateofreturnprojectionsarethe
sumofcurrentyieldplusprojectedchangesinprice(valuation,defaults,etc.),2)applicationof
key economic projections (inflation, real growth, dividends, etc.), and 3) structural themes
(supplyanddemandimbalances,capitalflows,etc.).Theseitemsaredevelopedforeachmajor
assetclass.Bestestimatesofgeometricrealratesofreturnforeachmajorassetclassincluded
in the Plans target asset allocation for 2014 and 2013 for 30 year return assumptions are
summarizedinthefollowingtable:
AssetClass
Cash
Treasuries
IGCorpCredit
MBS
CoreBonds
TIPS
HighYieldBonds
BankLoans
GlobalBonds(Unhedged)
GlobalBonds(Hedged)
EMDExternal
EMDLocalCurrency
LargeCapEquities
Small/MidCap
InternationalEquities(Unhedged)
InternationalEquities(Hedged)
EmergingInternationalEquities
2014LongTerm
ExpectedRealRateof
Return
1.50%
2.00%
3.50%
2.25%
2.53%
2.50%
4.50%
5.00%
1.25%
1.38%
5.00%
5.75%
6.25%
6.25%
7.25%
7.50%
9.50%
2013LongTerm
ExpectedRealRateof
Return
0.75%
1.00%
3.00%
2.50%
2.04%
1.50%
5.00%
5.00%
0.75%
0.93%
4.00%
5.00%
6.75%
7.00%
7.75%
8.00%
9.75%
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STATEOFNEWMEXICO
June30,2015


AssetClass(Continued)
PrivateEquity
PrivateDebt
PrivateRealAssets
RealEstate
Commodities
HedgeFundsLowVol
HedgeFundsModVol
2014LongTerm
ExpectedRealRateof
Return(Continued)
8.75%
8.00%
7.75%
6.25%
5.00%
5.50%
5.50%
2013LongTerm
ExpectedRealRateof
Return(Continued)
9.00%
8.50%
8.00%
6.00%
5.00%
4.75%
6.50%

Discount Rate: A single discount rate of 7.75% was used to measure the total ERB pension
liability as of June 30, 2014 and June 30, 2013. This single discount rate was based on the
expected rate of return on pension plan investments of 7.75%. Based on the stated
assumptions and the projection of cash flows, the Plans fiduciary net position and future
contributionswereprojectedtobeavailabletofinanceallprojectedfuturebenefitpaymentsof
current pension plan members. Therefore the long term expected rate of return on Plan
investments was applied to all periods of projected benefit payments to determine the total
pension liability. The projection of cash flows used to determine this single discount rate
assumed that Plan contributions will be made at the current statutory levels. Additionally,
contributions received through the Alternative Retirement Plan (ARP), ERBs defined
contributionplan,areincludedintheprojectionofcashflows.ARPcontributionsareassumed
toremainatalevelpercentageofERBpayroll,wherethepercentageofpayrollisbasedonthe
mostrecentfiveyearcontributionhistory.

Sensitivity of each discretely presented component units proportionate share of the net
pension liability to changes in the discount rate. See the individual discretely presented
component units notes to the financial statements in volumes 3 through 11 for disclosure of
sensitivitytoeachcharterschoolsproportionateshareofitsnetpensionliabilitytochangesin
thediscountrate.
Pensionplanfiduciarynetposition.DetailedinformationabouttheERBsfiduciarynetposition
isavailableintheseparatelyissuedauditedfinancialstatementsasofandforJune30,2014and
2013whicharepubliclyavailableatwww.nmerb.org.
Payablestopensionplan.Seetheindividualdiscretelypresentedcomponentunitsnotestothe
financialstatementsinvolumes3through11fordisclosureonpensionplanpayables.
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STATEOFNEWMEXICO
June30,2015
NOTE 14. OTHER POSTEMPLOYEMENT BENEFITS STATE RETIREE HEALTH CARE

PLAN
PlanDescription.TheDepartmentcontributestotheNewMexicoRetireeHealthCareFund,a
costsharingmultipleemployerdefinedbenefitpostemploymenthealthcareplanadministered
by the New Mexico Retiree Health Care Authority (RHCA). The RHCA provides health care
insurance and prescription drug benefits to retired employees of participating New Mexico
governmentagencies,theirspouses,dependents,andsurvivingspousesanddependents.The
RHCA Board was established by the Retiree Health Care Act (Chapter 10, Article 7C, NMSA
1978). The Board is responsible for establishing and amending benefit provisions of the
healthcare plan and is also authorized to designate optional and/or voluntary benefits like
dental,vision,supplementallifeinsurance,andlongtermcarepolicies.
Eligibleretireesare:1)retireeswhomakecontributionstothefundforatleastfiveyearsprior
toretirementandwhoseeligibleemployerduringthatperiodoftimemadecontributionsasa
participant in the RHCA plan on the person's behalf unless that person retires before the
employer'sRHCAeffectivedate,inwhichtheeventthetimeperiodrequiredforemployeeand
employer's contributions shall become the period of time between the employer's effective
dateandthedateofretirement;2)retireesdefinedbytheactwhoretiredpriortoJuly1,1990;
3)formerlegislatorswhoservedatleasttwoyears;and4)formergoverningauthoritymembers
whoservedatleastfouryears.
The RHCA issues a publicly available standalone financial report that includes financial
statementsandrequiredsupplementaryinformationforthepostemploymenthealthcareplan.
That report and further information can be obtained by writing to the Retiree Health Care
Authorityat4308CarlisleNE,Suite104,Albuquerque,NM87107.

Funding Policy. The Retiree Health Care Act (Section 107C13 NMSA 1978) authorizes the
RHCABoardtoestablishthemonthlypremiumcontributionsthatretireesarerequiredtopay
for healthcare benefits. Each participating retiree pays a monthly premium according to a
service based subsidy rate schedule for the medical plus basic life plan plus an additional
participationfeeoffivedollarsiftheeligibleparticipantretiredpriortotheemployer'sRHCA
effective date or is a former legislator or former governing authority member. Former
legislators and governing authority members are required to pay 100% of the insurance
premium to cover their claims and the administrative expenses of the plan. The monthly
premium rate schedule can be obtained from the RHCA or viewed on their website at
www.nmrhca.state.nm.us.
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STATEOFNEWMEXICO
June30,2015
NOTE 14. OTHER POSTEMPLOYEMENT BENEFITS STATE RETIREE HEALTH CARE

PLAN (CONTINUED)
Theemployer,employeeandretireecontributionsarerequiredtoberemittedtotheRHCAon
amonthlybasis.Thestatutoryrequirementsfortheemployerandemployeecontributionscan
be changed by the New Mexico State Legislature. Employers that choose to become
participatingemployersafterJanuary1,1998,arerequiredtomakecontributionstotheRHCA
fundintheamountdeterminedtobeappropriatebytheboard.
The Retiree Health Care Act (Section 107C15 NMSA 1978) is the statutory authority that
establishes the required contributions of participating employers and their employees. In the
fiscalyearendingJune30,2014,thestatuterequiredeachparticipatingemployertocontribute
2.5%ofeachparticipatingemployeesannualsalaryeachparticipatingemployeewasrequired
tocontribute1.25%oftheirsalary.Inaddition,pursuanttoSection107C15(G)NMSA1978,at
thefirstsessionoftheLegislaturefollowingJuly1,2013,thelegislatureshallreviewandadjust
the distributions pursuant to Section 716.1 NMSA 1978 and the employer and employee
contributions to the authority in order to ensure the actuarial soundness of the benefits
providedundertheRetireeHealthCareAct.
TheDepartment'scontributionstotheRHCAfortheyearsendedJune30,2015,2014and2013
were $489,772, $437,947 and $424,757, respectively, which equal the required contributions
foreachyear.
NOTE 15. RISK MANAGEMENT
The Department, as a State Agency defined in the New Mexico Tort Claims Act, is insured
throughtheRiskManagementDivisionoftheGeneralServicesDepartmentoftheStateofNew
Mexico.
Annual premiums arepaid by theDepartment to the Risk Management Division for coverage
providedinthefollowingareas:
LiabilityandcivilrightsprotectionforclaimsmadebyothersagainsttheStateofNew
Mexico;
CoveragetoprotecttheStateofNewMexico'spropertyandassets;and
FringebenefitcoverageforStateofNewMexicoemployees.
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STATEOFNEWMEXICO
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NOTE 15. RISK MANAGEMENT (CONTINUED)
AtJune30,2015,theDepartmenthadnoclaimsthatRiskManagementDivisionreturnedasnot
covered,whichwouldbecometheresponsibilityoftheDepartment.Toobtaintheseparately
issued financial statements, contact General Services Department, PO Box 26110, Santa Fe,
NewMexico875026110.

NOTE 16. REVERSIONS
ThefollowingactivityforreversionstotheStateGeneralFundoccurredduringfiscalyearended
June30,2015:
Fund
Revisions
Payable
June30,
2014
05700
79000
81800
85800
93100
$
322,958
2,385,734
10,263,191
Total
$ 12,971,883
PaidtoState
General
FundDuring
FY15
322,958
2,385,734
10,263,191
FY15
Additionsto
Reversions
Payable
40,380
6,343,811
36,620
14,259,323
34,680
12,971,883
Reversions
Payable
June30,
2015
PaidtoState
GeneralFund
DuringFY16*
40,380
6,343,811
36,620
14,259,323
34,680
20,714,814
20,714,814
23,043
6,234,708
14,259,323
20,517,074
In accordance with statute Section 6510(A) NMSA 1978, all unreserved, undesignated fund
balances in reverting funds and accounts as reflected in the central accounting system as of
June30shallrevert.Atotalof$12,971,883waspaidtotheStateGeneralFundduringtheyear.
$20,714,814ispayableatJune30,2015andduebySeptember30,2014;thispayablemaybe
adjusted within 45 days of the release of this audit by the New Mexico Office of the State
Auditor.
*Seefinding2013005withinvolume2relatedtothereportedfindingforuntimelyreversions
of$197,740.
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STATEOFNEWMEXICO
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NOTE 17. NONMAJOR SPECIAL REVENUE AND CAPITAL PROJECT FUNDS
SHARE
Fund #
SPECIALREVENUEFUNDS
00500
Schools in Need of Improvement. This fund is used to make school
improvementstoschooldistrictsinneedofupgrades.Thisfundwascreatedby
NewMexicoLegislature222CNMSA1978.Appropriationstothisfunddonot
revertbacktoanotherfundattheendoftheirappropriationperiod.
11420
K3Plus.Thepurposeofthisfundistoprovidefundingforadditionaleducational
time for students in the kindergarten through third grade. K3 plus shall be
administeredbythedepartmentandshallprovidethefundingforapprovedfull
daykindergartenandgrates13tobeextendedbyatleast25instructionaldays
beginninguptotwomonthsearlierthantheregularschoolyear(221328NMSA
1978).Appropriationstothisfunddonotrevertattheendoftheappropriation
period.
20160
Educational Technology Deficiency Correction. Money in the fund is
appropriatedforthepurposeofimplementingtheprovisionsoftheTechnology
forEducationAct(NMSA19782215A1).Thisisastatefundedproject(NMSA
1978 2215A8 and NMSA 1978 2215A11). Appropriations to this fund do
notreverttoanotherfundattheendoftheappropriationperiod.
20550
School Transportation Training. The school transportation training fund is
createdinthestatetreasury.Thefundconsistsofpaymentsfromschooldistricts
and charter schools for school transportation training workshops and other
schooltransportationtrainingdescribedinruleprovidedbythepubliceducation
department,incomefrominvestmentofthefundandmoneyotherwiseaccruing
tothefund.Moneyinthefundshallnotreverttoanyotherfundattheendofa
fiscalyear(22222NMSA1978).
20570
IndependentLivingServices.ThisfundwascreatedunderSection6323through
6325 NMSA 1978 to build FY15 agency budget in SHARE to mirror revenue
appropriated by other acts of legislature. In previous fiscal years, Independent
Living Services was combined within the Rehabilitation Services Program (Fund
50000)andinorderfortransparencypurposesNMDVRseparateditandcreated
thenewfund20570.
Vol. I - 137
STATEOFNEWMEXICO
June30,2015

(CONTINUED)
SHARE
Fund #
SPECIALREVENUEFUNDS(CONTINUED)
30800
Private Grants. This fund was created to receive private education grants to
enhance skills of educators and to support education initiatives to benefit
studentsandinnovationintheclassroom.
33400
FamilyYouth.Thepurposeofthisfundistoprovideanintermediaryforstudents
and their families at public schools to access social and health care services
(NMSA1978,222D3).Appropriationstothisfunddonotreverttoanotherfund
attheendoftheappropriationperiod.
39700
Educator Certification. Educator Certification funds are collected from
application fees for certification or for renewal of certification by the Public
EducationDepartmentofNewMexico.Moniesinthefundareforthepurposeof
funding the educator background check program (NMSA 1978, 22104.1).
Appropriations to this fund do not revert to another fund at the end of the
appropriationperiod.
45800
AdultBasicEducation.TheAdultBasicEducationfundisusedtoaccountforall
financial activities of the adult basic education program. The fund was
established by an act of the New Mexico State Legislature (NMSA 1978, 228
30.1).Appropriationstothisfunddonotreverttoanotherfundattheendofthe
appropriation period. Amounts were transferred to New Mexico Higher
EducationDepartment.
47000
CharterSchoolStimulus.Toaccountforstategeneralfundappropriationstobe
usedtostimulatecharterschools(NMSA1978,228B14).Appropriationstothis
funddonotreverttoanotherfundattheendoftheappropriationperiod.
51300
PreKindergarten.Thepurposeofthisfundistoaddressthetotaldevelopmental
needs of preschool children, including physical, cognitive, social and emotional
needs,andshallincludehealthcare,nutrition,safetyandmulticulturalsensitivity
(NMSA 1978, 32A234). Appropriations to this fund do not revert to another
fundattheendoftheappropriationperiod.
Vol. I - 138
STATEOFNEWMEXICO
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(CONTINUED)
SHARE
Fund #
56200
Professional Development. The Teacher Professional Development Fund is to
provide professional development programs and projects for public school
teachers (NMSA 1978, 22845). Appropriations to this fund do not revert to
anotherfundattheendoftheappropriationperiod.
56800
IncentiveforSchoolImprovement.IncentivesforSchoolImprovementarefunds
fromtheStateGeneralFundappropriatedtotheDepartment.Thefundisused
to account for financial incentives to individual schools that exceed expected
academic performance (NMSA 222C10). Appropriations to this fund do not
reverttoanotherfundattheendoftheappropriationperiod.
58600
ReadingMaterials.Thisfundaccountsformoniesforthepurchaseoftextbooks
andreadingmaterialsasappropriatedbyNewMexicoLegislatureNMSA2215
8.2.Appropriationstothisfunddonotreverttoanotherfundattheendoftheir
63300
IndianEducationAct.Togaintribalinvolvementandtoensurethemaintenance
ofnativelanguages(NMSA2223A8).Appropriationstothisfunddonotrevert
toanotherfundattheendoftheappropriationperiod.
63900
KindergartenPlus.Thepurposeofthefundistodepositgrantsanddonationsfor
the "Kindergarten Plus" pilot project. Money shall be expended in accordance
with the terms of the grants and donations. Unless otherwise specified by the
termsofthegrantordonation,moneyinthefundattheendofthepilotproject
shallreverttothegeneralfund.Therehavenotbeenanygrantsanddonations
and in FY 07 appropriations have been returned to the Special Appropriations
Fund79000.22220createdathreeyearstudywhichwasextendedintoasix
yearstudyduringthe2006LegislativeSession(HB43).
66000
InstructionalMaterialsAdoption.Thepurposeofthisfundistoprovideforthe
reviewandadoptionofinstructionalmaterialsfromthecollectionofpublishers
fees(NMSA221581).Appropriationstothisfunddonotreverttoanotherfund
Vol. I - 139
STATEOFNEWMEXICO
June30,2015

(CONTINUED)
SHARE
Fund #
66200
Education Technology. Education Technology are funds from the State General
Fund appropriated to the Department. The fund is used to account for all
financial resources of the 1994 Education Technology program. This is a state
funded project (NMSA 1978, 2215A1 to 2215A10). Appropriations to this
funddonotreverttoanotherfundattheendoftheappropriationperiod.
66900
School Library. To account for the replacement and purchase of new library
materials(NMSA2215C3).Appropriationstothisfunddonotreverttoanother
fundattheendoftheappropriationperiod.
67200
Federal Food Services. The Federal School Food Services Flowthrough fund is
usedtoaccountforfederalgrantstoNewMexicoschoolsforfoodservices.The
Department,asfiscalagentfortheUnitedStatesDepartmentofAgriculture,is
responsiblefordisbursingfundsforsuchservicesinaccordancewithindividual
grant requirements (Title 7, Code of Federal Regulations Parts 210 and 245).
67400
VocationalEducationFlowthrough.Thisfundaccountsforfederalgrantfundsfor
vocationaleducation.Thisisanonrevertingfund.
72500
Public Building Energy Efficiency Act. Public Building Energy Efficiency Act is
funds from the State General Fund appropriated from the State Equalization
GuaranteeFundthataredistributedbytheDepartmenttoparticipatingschool
districts(NMSA1978,623and22825).Thisisarevertingfund.
84400
Federal Department of Education Administration. The Federal Department
Administration Flowthrough fund accounts for administrative expenses except
thoserequiredtobeaccountedforinanotherfund.Itisfundedprimarilyfrom
appropriationsfromgrantfunds.Thisisanonrevertingfund.
Vol. I - 140
STATEOFNEWMEXICO
June30,2015

(CONTINUED)
SHARE
Fund #
85600
Instructional Materials Flowthrough. The Instructional Material Flowthrough
fund accounts for monies for the purchase of textbooks and instructional
materials, as appropriated by the New Mexico Legislature, and consists of
monies from receipts of the Federal Mineral Lands Leasing Act. Revenues are
received in this fund by the Department, as fiscal agent, and are subsequently
disbursedforthebenefitoftheindividualschoolsinNewMexico(NMSA1978,
22151to221525).Appropriationstothisfunddonotreverttoanotherfund
85700
StateSupportReserve.TheStateSupportReservefundisusedtoaugmentthe
appropriations for the State Equalization Guarantee distribution in order to
ensuretotheextentoftheamountundistributedinthefundthatthemaximum
figures for such distribution established by law shall not be reduced. (NMSA
1978, 22831). Appropriations to this fund do not revert to another fund at
theendoftheappropriationperiod.StateGeneralFundappropriations(NMSA
1978,22814).Thisisarevertingfund.
88900
TransportationEmergency.Thisfundisusedtomakedistributionsofstatefunds
to districts experiencing transportation emergencies (NMSA 1978, 28829.6).
89000
PED American Recovery and Reinvestment Act (ARRA). The American Recovery
andReinvestmentAct(ARRA)Fundwasestablishedin2009,andisfundedbythe
Federalgovernment.Thisisanonrevertingfund.
89000
DVRAmericanRecoveryandReinvestmentAct(ARRA).TheAmericanRecovery
andReinvestmentAct(ARRA)Fundwasestablishedin2009,andisfundedbythe
Federalgovernment.Thisisanonrevertingfund.
Vol. I - 141
STATEOFNEWMEXICO
June30,2015

(CONTINUED)
SHARE
Fund #
CAPITALPROJECTSFUNDS
63400
Public School Capital Improvements. The Public School Capital Improvements
fundaccountsfortheproceedsfrombondsalesissuedundertheprovisionsof
thePublicSchoolCapitalImprovementsAct(NMSA1978,22251and2225
10).Fundsremainingafterthecompletionofcapitalprojectsaretobereverted.
63500
PublicSchoolCapitalOutlay.ThePublicSchoolCapitalOutlayfundaccountsfor
the proceeds from bond sales issued under the provisions of the Public School
Capital Improvements Act (NMSA 1978, 5 22241 and 222546). Funds
remainingafterthecompletionofcapitalprojectsaretobereverted.
81300
Special Capital Outlay Severance Tax Bonds (2000). The fund, established in
2000,accountsforseverancetaxbondproceedsappropriatedforspecialcapital
outlayprojects(Lawsof2000,Chapter23,Section16).Fundsremainingafterthe
81600
Special Capital Outlay Severance Tax Bonds (2004). The fund, established in
2004, accounts for severance tax bond proceeds appropriated to the Public
EducationDepartment.Fundsremainingafterthecompletionofcapitalprojects
aretobereverted.
81800
SpecialCapitalOutlayGeneralFund.Thefund,establishedin2000,accounts
forgeneralfundappropriationsforspecialcapitaloutlayprojects(Lawsof2000,
Chapter23,Section45).Fundsremainingafterthecompletionofcapitalprojects
aretobereverted.
93100
General Fund Capital Outlay. The fund accounts for direct general fund
appropriations for special capital outlay projects. Funds remaining after the

Vol. I - 142
STATEOFNEWMEXICO
June30,2015

NOTE 18. TRANSFERS IN AND TRANSFERS OUT

Interagency Transfers

From
(Agency) To (Fund)
Description
DFA(34100) PED(05700) FY15GeneralFundCompensation
DFA(34100) DVR(50000) FY15GeneralFundCompensation
DFA(34100) DVR(20570) FY15GeneralFundCompensation
TotalInteragencyTransferIn

From
(Fund)
PED
(84400)
PED
(84400)
PED
(85600)
To
(Agency)
DOH
(66500)
CYFD
(69000)
NMHED
(9500)
Reimbursement of Expenditures for $

RacetotheTopProgram
Reimbursement of Expenditures for
RacetotheTopProgram
Instructional Materials for Adult Basic
Education
Description

Interfund Transfers

From Fund To Fund
79000
50000
20570
66200
85600
20160
85600
00500
85600
TotalInterfundTransfers
724,818
Amount
1,119,028
7,846,103
275,024
TotalInteragencyTransfersOut
57300
Amount
208,718
514,800
1,300
9,240,155
Description
SpecialAppropriationLawsof2014,
Chapter63,Section5
EstablishBalancesinNew
IndependentLivingFund
Chapter63,Section5
Chapter63,Section5
Chapter63,Section5
Amount
$ 2,000,000
575,973
678,705
97,415
723,880
$ 4,075,973
Vol. I - 143
STATEOFNEWMEXICO
June30,2015

NOTE 19. GOVERNMENTAL FUND BALANCES RESTRICTED AND COMMITTED

TheDepartment'sfundbalancesrepresent:(1)RestrictedPurposeswhichincludebalancesthat
are legally restricted for specific purposes due to constraints that are externally imposed by
creditors, grantors, contributors, or laws or regulations of other governments; (2)Committed
Purposes, which include balances that can only be used for specific purposes pursuant to
constraintsimposedbyformalactionoftheLegislativeandExecutivebranches.Asummaryof
thenatureandpurposeofthesereservesbyfundtypeatJune30,2015,follows:

Fund/Program
GeneralFund:
PEDGeneralFund
DVRGeneralFund
TotalGeneralFund:
Laws
AdministrativelyCreated
Committed Restricted
Purpose
Purpose

697,102
1,583,336
697,102 1,583,336

Fund/Program
CapitalImprovementProjects:
PublicSchoolCapitalImprovement
PublicSchoolCapitalOutlay
SpecialCapitalOutlaySeverance
TaxBonds2000
TaxBonds2004
taxBonds
TotalCapitalImprovementProjects
Laws
NMSA222510,1978
NMSA22241,1978
Lawof2000,Chapter23,Section16
Committed Restricted
Purpose
Purpose

$
65,211
1,103,044

37,097
NMSA72712,1978
157,620
NMSA22251to10,1978
488,145
1,103,044
748,073
Vol. I - 144
STATEOFNEWMEXICO
June30,2015

NOTE 19. GOVERNMENTAL FUND BALANCES RESTRICTED AND COMMITTED
(CONTINUED)

Fund/Program
SpecialRevenue:
FederalDepartmentofEducation
Flowthrough
SpecialProjects
Committed
Purpose

Laws
Title34,CodeofFederalRegulations
ProfessionalDevelopment
IncentiveforSchoolImprovement
ReadingMaterials
IndianEducationAct
KindergartenPlus
InstructionalMaterialsAdoption
EducationTechnology
SchoolLibrary
FederalSchoolFoodServices
Flowthrough
PublicBuildingEnergyEfficientAct
PublicSchoolSupportFlowthrough
InstructionalMaterials
Flowthrough
StateSupportReserve
TransportationEmergency
RecoveryActFunds
TotalSpecialRevenue
48th Legislature,1st Session,Ch28

andamendedbySenateBill165of
2008
NMSA22210C1978
2012,Chapter19,Sec.4item1
NMSA2215A11978,NMSA2215A
81978,andNMSA2215A111978
NMSA22222
NMSA6323through6325
N/A DonorRestricted
NMSA222D3
NMSA22104.11978
NMSA228B141978
GFAppropriationLawsof2009,Ch.
124Section4;HSD/PEDagreement
GSA#1163090000014
NMSA228451978
NMSA222C101978
NMSA22158.21978
NMSA2223A8 1978
NMSA22201978
NMSA22158.11978
NMSA2215A1to2215A101978
NMSA2215c31978
Title7,CodeofFederalRegulations
Parts210and245
NMSA623101978
NMSA228141978
NMSA22151to2215251978
NMSA28831 1978
NMSA28829.61978
SchoolsinNeedofImprovement
K3Plus
EdTechDeficiencyCorrection
Fund
SchoolTransportationTraining
IndependentLivingServices
PrivateGrants
FamilyYouth
EducatorCertification
CharterSchoolStimulus
PreKindergarten
Restricted
Purpose
5,253,302
21,377,806
113,274
64,347
1,334,140
557,192
14,292
3,201,708
31,005
577,270
419,111
3,743,506
585,537
113,198
155,564
3,252,278
14,263
125,207
89,002
326,123
5,691
48
4,921,261
4,832,711
1,000,000
1,139,394
10,336,254
12,136,400
184
42,911,160
45,242,569
Vol. I - 145
STATEOFNEWMEXICO
June30,2015

NOTE 20. DEFICIENT FUND BALANCE

ThefollowingfundshaddeficientfundbalancesatJune30,2015:
DisabilityDeterminationServices
DVR(50100)
$(104,422)
PED(85800)
$(867,011)
AdultBasicEducation
PED(45800)
$(25,733)
VocationalEducationFlowthrough
PED(67400)
$(708,506)
PEDARRAFund
PED(89000)
$(292)
SpecialCapitalOutlayGeneralFund
PED(81800)
$(158,686)
GeneralFundCapitalOutlay
PED(93100)
$(6,551)
The Department is addressing the negative fund balances and is planning to take the
appropriateactionstoeliminatethenegativebalances.

NOTE 21. RESTATEMENTS (DISCRETELY PRESENTED COMPONENT UNITS)

AsaresultofimplementationofGASBStatementNo.68,AccountingandFinancialReporting
for Pensions, the individual charter schools net position at June 30, 2014 was restated. The
aggregaterestatement,whichcausedareductionofnetposition,amountedto$99,135,200.

NOTE 22. UNCERTAINTIES REGARDING VIOLATIONS OF NEW MEXICO STATE LAW

AsaresultofsecuringdebtbytheHorizonAcademyFoundationandtheCottonwoodClassical
Foundation, the Horizon Academy West and Cottonwood Classical Preparatory schools,
discretely presented component units of the Department, have entered into Pledge and
CovenantAgreementswiththirdpartylenderstosecuredebtoftheirrespectivefoundations.
Under the terms of the debt agreement, the lender required the schools to pledge, transfer,
and grant a security interest in and assign to the lender all funds, monies, grants or other
distributions received by the School from the State of New Mexico. The uncertainty as to
whether this is a violation of the AntiDonation Clause of the New Mexico State Constitution
Article IX, Section 14 is currently undergoing additional analysis by the Departments general
counsel.

Vol. I - 146
STATEOFNEWMEXICO
June30,2015

NOTE 23. RECENT ACCOUNTING PRONOUNCEMENTS

In August 2012, the GASB issued Statement No.68, Accounting and Financial Reporting for
PensionsanamendmentofGASBStatement27.TheprimaryobjectiveofthisStatementisto
improveaccountingandfinancialreportingbystateandlocalgovernmentsforpensions.Italso
improves information provided by state and local governmental employers about financial
supportforpensionsthatisprovidedbyotherentities.TheDepartmentprovidessubstantially
all of its employees with pension benefits through the states multiple employer costsharing
definedbenefitretirementplanadministeredbythePublicEmployeesRetirementAssociation
of New Mexico (PERA) and Educational Retirement Board (ERB). GASB Statement 68 requires
costsharingemployersparticipatinginthePERAprogram,suchastheDepartment,torecord
theirproportionateshare,asdefinedinGASBStatement68,ofDepartmentsunfundedpension
liability.AsnotedinNote12above,theportionofnetpensionliabilityforPERAandERBforthe
primary government is reported at the state level and will not be found on these financial
statements.TheDepartmenthasnolegalobligationtofundthisshortfallnordoesithaveany
abilitytoaffectfunding,benefit,orannualrequiredcontributiondecisionsmadebyPERAand
ERB.GASBStatement68iseffectiveforperiodsbeginningafterJune15,2014.TheDepartment
adoptedGASBStatementNo.68duringfiscalyear2015.TherequirementofGASBStatement
68torecordaportionofPERAsunfundedliabilityhasnegativelyimpactedtheDepartments
discretelypresentedcomponentunitsunrestrictednetposition.InformationregardingPERAs
currentfundingstatuscanbefoundintheirfinancialreport.
InJanuary2013,theGASBissuedstatementNo.69,GovernmentCombinationsandDisposalsof
Government Operations. This Statement establishes accounting and financial reporting
standards related to government combinations and disposals of government operations. As
used in this Statement, the term government combination includes a variety of transactions
referredtoasmergers,acquisitions,andtransfersofoperations.ThisStatementimprovesthe
decisionusefulnessoffinancialreportingbyrequiringthatdisclosuresbemadebygovernments
about combination arrangements in which they engage and for disposals of government
operations. GASB Statement 69 is effective for government combinations and disposals of
government operations occurring in financial reporting periods beginning after December 15,
2013 and should be applied on a prospective basis. The Department was not a party to any
combinationsordisposalsinthecurrentyearandthereforetheadoptionofGASBStatement69
doesnothaveanyimpactontheDepartmentsfinancialstatements.
In November 2013, the GASB issued statement No. 71, Pension Transition for Contributions
Made Subsequent to the Measurement Date an amendment of GASB Statement No. 68.
Statement No. 68 requires a state or local government employer to recognize a net pension
liabilitymeasuredasofthemeasurementdate,noearlierthantheendofitspriorfiscalyear.If
astateorlocalgovernmentemployermakesacontributiontoadefinedbenefitpensionplan
Vol. I - 147
STATEOFNEWMEXICO
June30,2015
NOTE 23. RECENT ACCOUNTING PRONOUNCEMENTS (CONTINUED)

between the measurement date of the reported net pension liability and the end of the
governments reporting period, Statement No. 68 requires that the government recognize its
contributionasadeferredoutflowofresources.Ifitisnotpracticaltodeterminetheamounts
of all deferred outflows of resources and deferred inflows of resources related to pensions,
contributionsmadeafterthemeasurementdateofthebeginningnetpensionliabilitycouldnot
havebeenreportedasdeferredoutflowsofresourcesattransition.
Accordingly,StatementNo.71amendsparagraph137ofStatementNo.68torequirethat,at
transition, a government recognize a beginning deferred outflow of resources for its pension
contributions,ifany,madesubsequenttothemeasurementdateofthebeginningnetpension
liability.TheDepartmentadoptedGASBStatementNo.71duringfiscalyear2015.
In June 2015, the GASB issued Statement No. 76, The Hierarchy of Generally Accepted
Accounting Principles for State and Local Governments. Statement No. 76, which supersedes
Statement No. 55, aims to identify, in the context of the current governmental financial
reportingenvironment,thehierarchyofU.S.GAAP,whichconsistsofthesourcesofaccounting
principlesusedtopreparethefinancialstatementsofstateandlocalgovernmentsentitiesin
conformity with U.S. GAAP, as well as the framework for selecting those principles. The
DepartmentadoptedGASBStatementNo.76duringfiscalyear2015,withnosignificantimpact
totheDepartmentsfinancialstatements.

NOTE 24. NEW ACCOUNTING PRONOUNCEMENTS
The following GASB pronouncements have been issued, but are not yet effective at June 30,
2015.
GASBStatementNo.72,FairValueMeasurementandApplication
GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other than
PensionPlans
GASBStatementNo.75,AccountingandFinancialReportingforPostemploymentBenefitsOther
thanPensions
TheDepartmentwillimplementthenewGASBpronouncementsinthefiscalyearnolaterthan
the required effective date. The Department believes that the above listed new GASB
pronouncementswillnothaveasignificantfinancialimpacttotheDepartmentorinissuingits
Vol. I - 148
SUPPLEMENTARYINFORMATION
STATEOFNEWMEXICO
BudgetandActualModifiedAccrualBasisNonMajorFunds
STBCapitalOutlay89200
FiscalYearEndedJune30,2015
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
$ 47,393,006
47,393,006
45,856,813
(1,536,193)
TotalRevenues
47,393,006
47,393,006
45,856,813
(1,536,193)
Expenditures:
Education:
Other
OtherFinancingUses
47,393,006

47,393,006

45,856,813
1,536,193

47,393,006
47,393,006
45,856,813
1,536,193
TotalExpenditures
Vol. I - 149
NONMAJORGOVERNMENTALFUNDS
STATEOFNEWMEXICO
COMBININGBALANCESHEETS
NONMAJORGOVERMENTALFUNDS
June30,2015
SchoolsinNeed
ofImprovement
00500
K3Plus
11420
EdTech
Deficiency
CorrectionFund
20160
ASSETS
InvestmentPool
DuefromOtherFunds
OtherAssets
$113,330
9,196,710
64,347
TotalAssets
$113,330
9,196,710
64,347
7,858,609
3,961
56
56
7,862,570
FUNDBALANCES(Deficit)
Restricted
Committed
Unassigned(Deficit)
113,274
113,274
1,334,140
1,334,140
64,347
64,347
$113,330
9,196,710
64,347
LIABILITIESANDFUNDBALANCES(DEFICIT)
AccountsPayable
UnearnedRevenue
DuetoOtherFunds
OtherLiabilities
TotalLiabilities
Vol. I - 150
School
Transportation
Training
20550
Independent
LivingServices
20570
PrivateGrants
30800
FamilyYouth
33400
Educator
Certification
39700
AdultBasic
Education
45800
31,390
600
673,099
98,370
454,197
557,192
3,805,986
762
122,564
31,992
771,469
454,197
557,192
3,806,748
122,564
987
193,145
1,054
31,177
49
41,809
21,433
987
194,199
3,837
23
35,086
63,242
148,297
148,297
31,005
31,005
577,270
577,270
419,111
419,111
557,192
557,192
3,743,506
3,743,506
(25,733)
(25,733)
31,992
771,469
454,197
557,192
3,806,748
122,564
Vol. I - 151
STATEOFNEWMEXICO
NONMAJORGOVERMENTALFUNDS(CONTINUED)
June30,2015
CharterSchool
Stimulus
47000
Pre
Kindergarten
51300
Professional
Development
56200
ASSETS
InvestmentPool
DuefromOtherFunds
OtherAssets
$14,292
8,245,186
120
856,403
TotalAssets
$14,292
8,245,306
856,403
4,650,583
3,545
266,583
1,805
387,665
5,043,598
4,005
278
270,866
Restricted
Committed
Unassigned(Deficit)
14,292
14,292
3,201,708
3,201,708
585,537
585,537
$14,292
8,245,306
856,403
AccountsPayable
InvestmentPooloverdraft
UnearnedRevenue
DuetoOtherFunds
OtherLiabilities
TotalLiabilities
Vol. I - 152
Incentivefor
School
Improvement
56800
Reading
Materials
58600
IndianEducation
Act
63300
Kindergarten
Plus
63900
Instructional
Materials
Adoption
66000
Education
Technology
66200
113,194
155,564
3,810,293
89,002
326,123
14,263
113,198
155,564
3,810,293
89,002
326,123
14,263
555,528
2,095
392
558,015
113,198
113,198
155,564
155,564
3,252,278
3,252,278
89,002
89,002
326,123
326,123
14,263
14,263
113,198
155,564
3,810,293
89,002
326,123
14,263
Vol. I - 153
STATEOFNEWMEXICO
June30,2015
SchoolLibrary
66900
FederalFood
Services
67200
Vocational
EducationFlow
Through
67400
ASSETS
InvestmentPool
DuefromOtherFunds
OtherAssets
$125,207
3,771,212
52,147
36,445
27,590
2,083,886
20
186,187
TotalAssets
$125,207
3,859,804
2,297,683
611,087
2,031,779
2,870,323
38,553
142,720
186,187
5,243
3,854,113
952,833
21,577
3,006,189
Restricted
Committed
Unassigned(Deficit)
125,207
125,207
5,691
5,691
(708,506)
(708,506)
TOTALLIABILITIESANDFUNDBALANCE(DEFICIT)
$125,207
3,859,804
2,297,683
AccountsPayable
UnearnedRevenue
DuetoOtherFunds
OtherLiabilities
TotalLiabilities
Vol. I - 154
PublicBuilding
EnergyEfficiency
Act
72500
Federal
Departmentof
EducationAdmin
84400
Instructional
MaterialsFlow
Through
85600
StateSupport
Reserve
85700
Transportation
Emergency
88900
PEDARRAFund
89000
48
5,636,773
10,016,720
4,005
8,550
4,851,993
1,000,000
1,253,649
7,485
48
15,666,048
4,851,993
1,000,000
1,253,649
7,485
6,102,004
144,390
19,282
113,655
4,431
3,544,460
90,461
74,602
267,758
521,112
10,744,787
19,282
600
114,255
1,797
1,549
7,777
48
48
4,921,261
4,921,261
4,832,711
4,832,711
1,000,000
1,000,000
1,139,394
1,139,394
(292)
(292)
48
15,666,048
4,851,993
1,000,000
1,253,649
7,485
Vol. I - 155
STATEOFNEWMEXICO
June30,2015
DVRARRAFund
89000
PublicSchool
Capital
Improvements
63400
PublicSchool
CapitalOutlay
63500
ASSETS
InvestmentPool
DuefromOtherFunds
OtherAssets
$184
4,432,949
1,103,044
TotalAssets
$184
4,432,949
1,103,044
5,406
4,362,332
4,367,738
Restricted
Committed
Unassigned(Deficit)
184
184
65,211
65,211
1,103,044
1,103,044
TOTALLIABILITIESANDFUNDBALANCE(DEFICIT)
$184
4,432,949
1,103,044
AccountsPayable
UnearnedRevenue
DuetoOtherFunds
OtherLiabilities
TotalLiabilities
Vol. I - 156
SpecialCapital
OutlaySeverance
TaxBonds2000
81300
SpecialCapitalOutlay
SeveranceTaxBonds
2004
81600
SpecialCapital
OutlayGeneral
Fund
81800
GFCapital
Outlay
93100
Total
Governmental
Funds
37,097
143,781
38,186
54,542
7,350
28,129
47,345,606
15,970,188
52,273
36,465
190,792
54,848
37,097
181,967
61,892
28,129
63,650,172
22,480,659
176,527
24,347
24,347
36,620
175,902
8,056
220,578
34,680
34,680
2,870,323
71,300
3,607,416
1,336,108
83,362
447,497
190,792
5,306,678
36,570,662
37,097
37,097
157,620
157,620
(158,686)
(158,686)
(6,551)
(6,551)
16,539,980
11,439,298
(899,768)
27,079,510
37,097
181,967
61,892
28,129
63,650,172
Vol. I - 157
STATEOFNEWMEXICO
STATEMENTOFREVENUES,EXPENDITURES,ANDCHANGESIN
FUNDBALANCES(DEFICIT)NONMAJORGOVERNMENTALFUNDS
SchoolsinNeed
ofImprovement
00500
K3Plus
11420
EdTech
Deficiency
CorrectionFund
20160
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
$
319
319
60
60
EXPENDITURES:
Current:
Education
HealthandWelfare
TotalExpenditures
23,452,461
23,452,461
EXCESS(DEFICIENCY)OFREVENUES
OVER(UNDER)EXPENDITURES
319
(23,452,461)
60
21,223,000
(723,880)
(723,880)
21,223,000
(97,415)
(97,415)
(723,561)
(2,229,461)
(97,355)
836,835
3,563,601
161,702
$113,274
1,334,140
64,347
Transfersin:
Interfund
Other
Transfersout:
Reversions
Interfund
Other
TotalotherFinancingSources(uses):
Vol. I - 158
School
Transportation
Training
20550
Independent
LivingServices
20570
PrivateGrants
30800
FamilyYouth
33400
Educator
Certification
39700
9,727
9,727
210,379
210,379
451,444
451,444
465
465
1,544,523
1,544,523
5,384
5,384
1,493,282
1,493,282
498,509
498,509
1,219,524
1,219,524
4,343
(1,282,903)
(47,065)
465
324,999
1,282,900
AdultBasic
Education
45800
575,973
1,300
1,860,173
4,343
577,270
(47,065)
465
324,999
26,662
466,176
556,727
3,418,507
(25,733)
31,005
577,270
419,111
557,192
3,743,506
(25,733)
Vol. I - 159
STATEOFNEWMEXICO
FUNDBALANCES(DEFICIT)NONMAJORGOVERNMENTALFUNDS(CONTINUED)
CharterSchool
Stimulus
47000
PreKindergarten
51300
Professional
Development
56200
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
7,047
7,047
8,353
8,353
EXPENDITURES:
Current:
Education
HealthandWelfare
Totalexpenditures
18,143,588
18,143,588
2,829,110
2,829,110
(18,136,541)
(2,820,757)
19,236,600
19,236,600
1,100,059
(2,820,757)
14,292
2,101,649
3,406,294
$14,292
3,201,708
585,537
Transfersin:
Interfund
Other
Transfersout:
Reversions
Interfund
Other
Totalotherfinancingsources(uses):
Vol. I - 160
Incentivefor
School
Improvement
56800
Reading
Materials
58600
IndianEducation
Act
63300
KindergartenPlus
63900
Instructional
Materials
Adoption
66000
Education
Technology
66200
63,535
63,535
83
83
103,431
103,431
11,507
11,507
1,005,634
1,005,634
180,330
180,330
63,535
(1,005,634)
83
(76,899)
11,507
1,819,600
(299,200)
1,520,400
(678,705)
(678,705)
63,535
514,766
83
(76,899)
(667,198)
49,663
155,564
2,737,512
88,919
403,022
681,461
113,198
155,564
3,252,278
89,002
326,123
14,263
Vol. I - 161
STATEOFNEWMEXICO
SchoolLibrary
66900
FederalFood
Services
67200
Vocational
EducationFlow
Through
67400
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
137,307,962
12,295
137,320,257
6,034,300
9
6,034,309
EXPENDITURES:
Current:
Education
HealthandWelfare
Totalexpenditures
137,932,972
137,932,972
6,220,500
6,220,500
(612,715)
(186,191)
(612,715)
(186,191)
125,207
618,406
(522,315)
$125,207
5,691
(708,506)
Transfersin:
Interfund
Other
Transfersout:
Reversions
Interfund
Other
Vol. I - 162
PublicBuilding
EnergyEfficiency
Act
72500
Federal
Departmentof
EducationAdmin
84400
Instructional
MaterialsFlow
Through
85600
36,213,054
109,885
36,322,939
210,545
210,545
StateSupport
Reserve
85700
Transportation
Emergency
88900
PEDARRAFund
89000
2,810
2,810
590,130
590,130
27,610,154
27,610,154
24,235,081
24,235,081
3,077,714
3,077,714
288
288
(210,545)
8,712,785
(24,232,271)
(2,487,584)
(288)
210,546
20,308,600
1,500,000
210,546
(8,965,131)
(8,965,131)
(275,024)
21,533,576
(252,346)
(2,698,695)
(2,487,584)
(288)
47
5,173,607
7,531,406
1,000,000
3,626,978
(4)
48
4,921,261
4,832,711
1,000,000
1,139,394
(292)
Vol. I - 163
STATEOFNEWMEXICO
DVRARRAFund
89000
PublicSchool
Capital
Improvements
63400
PublicSchool
CapitalOutlay
63500
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
2
2
EXPENDITURES:
Current:
Education
HealthandWelfare
Totalexpenditures
482,298
482,298
(482,296)
482,298
482,298
184
65,209
1,103,044
$184
65,211
1,103,044
Transfersin:
Interfund
Other
Transfersout:
Reversions
Interfund
Other
Vol. I - 164
SpecialCapital
OutlaySeverance
TaxBonds2000
81300
SpecialCapital
OutlaySeverance
TaxBonds2004
81600
SpecialCapital
OutlayGeneral
Fund
81800
127
127
9,185
9,185
179,765,695
2,924,937
182,690,632
54,858
54,858
95,000
95,000
247,253,950
1,493,282
248,747,232
127
(45,673)
(95,000)
(66,056,600)
482,298
2,075,973
1,300
54,858
(299,200)
(1,500,000)
(9,240,155)
55,656,320
127
(45,673)
(40,142)
(10,400,280)
37,097
157,493
(113,013)
33,591
37,479,790
37,097
157,620
(158,686)
(6,551)
27,079,510
GFCapital
Outlay
93100
54,858
Total
Governmental
Funds
64,136,104
Vol. I - 165
STATEOFNEWMEXICO
SchoolsinNeedofImprovement00500
BudgetedAmounts
OriginalBudget
FinalBudget
Revenues:
BudgetedFundBalance
$ 723,880
723,880
(723,880)
TotalRevenues
723,880
723,880
319
(723,561)
Expenditures:
Education:
OtherFinancingUses
723,880
723,880
723,880
723,880
723,880
723,880
(723,561)
(723,561)
TotalExpenditures
ActualAmount
Variance
Positive
(Negative)
Vol. I - 166
STATEOFNEWMEXICO
K3Plus11420
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 21,223,000

21,223,000

3,500,000
21,223,000

(3,500,000)
21,223,000
24,723,000
21,223,000
(3,500,000)
Expenditures:
Education:
Benefits
ContractualServices
Other
257,000
780,000
20,186,000
142,000
765,410
23,815,590
134,318
455,401
22,862,742
7,682
310,009
952,848
TotalExpenditures
21,223,000
24,723,000
23,452,461
1,270,539
(2,229,461)
(2,229,461)
Revenues:
OtherRevenue
BudgetedFundBalance
TotalRevenues
Vol. I - 167
STATEOFNEWMEXICO
EdTechDeficiencyCorrectionFund20160
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
OtherRevenue
BudgetedFundBalance
$
97,415

97,415
60
60
(97,415)
TotalRevenues
97,415
97,415
60
(97,355)
Expenditures:
Education:
Benefits
ContractualServices
Other
OtherFinancingUses

97,145

97,415
97,415
TotalExpenditures
97,145
97,415
97,415
$ 270
(97,355)
(97,355)
Vol. I - 168
STATEOFNEWMEXICO
SchoolTransportationTraining20550
BudgetedAmounts
Revenues:
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 10,000
10,000
9,727
(273)
10,000
10,000
9,727
(273)
10,000
10,000
5,384
4,616
10,000
10,000
5,384
4,616
4,343
4,343
Vol. I - 169
STATEOFNEWMEXICO
IndependentLivingServices20570
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 256,100
1,286,400
256,100
1,297,900
210,379
1,282,900
(45,721)
(15,000)

1,300
575,973
1,300
575,973

1,542,500
1,555,300
2,070,552
515,252
Expenditures:
HealthandWelfare:
Benefits
Other
35,100
1,507,400
51,300
1,504,000
48,127
1,445,155
3,173
58,845
TotalExpenditures
1,542,500
1,555,300
1,493,282
62,018
577,270
577,270
Revenues:
FederalFunds
OtherRevenue
InterAgencyTransfers
TotalRevenues
Vol. I - 170
STATEOFNEWMEXICO
PrivateGrants30800
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 1,122,556
1,122,556
451,444
(671,112)
1,122,556
1,122,556
451,444
(671,112)
Expenditures:
Education:
Benefits
ContractualServices
Other
75,001
787,348
260,207
75,001
787,348
260,207
14,769
444,841
38,899
60,232
342,507
221,308
TotalExpenditures
1,122,556
1,122,556
498,509
624,047
(47,065)
(47,065)
Revenues:
OtherRevenue
TotalRevenues
Vol. I - 171
STATEOFNEWMEXICO
FamilyYouth33400
BudgetedAmounts
OriginalBudget
Revenues:
OtherRevenue
FinalBudget
ActualAmount
Variance
Positive
(Negative)
465
465
465
465
Expenditures:
Education:
Benefits
ContractualServices
Other
OtherFinancingUses
TotalExpenditures
465
465
TotalRevenues
Vol. I - 172
STATEOFNEWMEXICO
EducatorCertification39700
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 1,908,000
1,908,000
1,544,523
(363,477)
1,908,000
1,908,000
1,544,523
(363,477)
Expenditures:
Education:
Benefits
ContractualServices
Other
928,400
648,300
331,300
928,400
648,300
331,300
783,882
362,925
72,717
144,518
285,375
258,583
TotalExpenditures
1,908,000
1,908,000
1,219,524
688,476
324,999
324,999
Revenues:
OtherRevenue
TotalRevenues
Vol. I - 173
STATEOFNEWMEXICO
PreKindergarten51300
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 19,236,600

19,236,600
900,000
19,236,600
7,047

(892,953)
19,236,600
20,136,600
19,243,647
(892,953)
Expenditures:
Education:
Benefits
ContractualServices
Other
230,047
18,991,553
15,000
230,047
19,891,553
15,000
206,374
17,928,994
8,220
23,673
1,962,559
6,780
TotalExpenditures
19,236,600
20,136,600
18,143,588
1,993,012
1,100,059
1,100,059
Revenues:
BudgetedFundBalance
TotalRevenues
Vol. I - 174
STATEOFNEWMEXICO
ProfessionalDevelopment56200
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 2,500,000

2,500,000
400,000
8,353
(2,500,000)
(391,647)
TotalRevenues
2,500,000
2,900,000
8,353
(2,891,647)
Expenditures:
Education:
ContractualServices
Other
2,475,000
25,000
2,890,000
10,000
2,826,045
3,065
63,955
6,935
2,500,000
2,900,000
2,829,110
70,890
(2,820,757)
(2,820,757)
Revenues:
BudgetedFundBalance
TotalExpenditures
Vol. I - 175
STATEOFNEWMEXICO
IncentiveforSchoolImprovement56800
BudgetedAmounts
OriginalBudget
Revenues:
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
FinalBudget
ActualAmount
Variance
Positive
(Negative)
63,535
63,535
63,535
63,535
63,535
63,535
Vol. I - 176
STATEOFNEWMEXICO
IndianEducationAct63300
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 1,819,600
675,400

1,520,400
1,202,926

1,819,600
(299,200)
299,200
(1,202,926)
(299,200)
2,495,000
2,723,326
1,520,400
(1,202,926)
Expenditures:
Education:
Benefits
ContractualServices
Other
333,500
2,060,400
101,100
333,500
2,143,226
246,600
135,824
649,279
220,531
197,676
1,493,947
26,069
TotalExpenditures
2,495,000
2,723,326
1,005,634
1,717,692
514,766
514,766
Revenues:
BudgetedFundBalance
Reversions
TotalRevenues
Vol. I - 177
STATEOFNEWMEXICO
KindergartenPlus63900
BudgetedAmounts
OriginalBudget
Revenues:
OtherRevenue
FinalBudget
ActualAmount
Variance
Positive
(Negative)
83
83
83
83
Expenditures:
Education:
Benefits
ContractualServices
Other
OtherFinancingUses
TotalExpenditures
83
83
TotalRevenues
Vol. I - 178
STATEOFNEWMEXICO
InstructionalMaterialsAdoption66000
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
OtherRevenue
BudgetedFundBalance

289,600
103,431
103,431
(289,600)
TotalRevenues
289,600
103,431
(186,169)
Expenditures:
Education:
ContractualServices
Other
288,850
750
180,250
80
108,600
670
289,600
180,330
109,270
(76,899)
(76,899)
TotalExpenditures
Vol. I - 179
STATEOFNEWMEXICO
EducationTechnologyFund66200
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
BudgetedFundBalance
$ 678,705
678,705
11,507
(667,198)
TotalRevenues
678,705
678,705
11,507
(667,198)
Expenditures:
Education:
Benefits
ContractualServices
Other
OtherFinancingUses

678,705

678,705
678,705
TotalExpenditures
678,705
678,705
678,705
(667,198)
(667,198)
Vol. I - 180
STATEOFNEWMEXICO
FederalFoodServices67200
BudgetedAmounts
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 151,498,934

151,498,934

137,307,962
12,295
(14,190,972)
12,295
151,498,934
151,498,934
137,320,257
(14,178,677)
151,498,934
151,498,934
137,932,972
13,565,962
151,498,934
151,498,934
137,932,972
13,565,962
(612,715)
(612,715)
Vol. I - 181
STATEOFNEWMEXICO
VocationalEducationFlowthrough67400
BudgetedAmounts
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Expenditures:
Education:
ContractualServices
Other
OtherFinancingUses
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 7,308,000

8,808,000

6,034,300
9
(2,773,700)
9
7,308,000
8,808,000
6,034,309
(2,773,691)

7,308,000
1,500,000
7,308,000
6,220,500
1,500,000
1,087,500

7,308,000
8,808,000
6,220,500
2,587,500
(186,191)
(186,191)
Vol. I - 182
STATEOFNEWMEXICO
PublicBuildingEnergyEfficiencyAct72500
BudgetedAmounts
Revenues:
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 210,546
210,546
210,546
210,546
210,546
210,546
210,546
210,546
210,545
210,546
210,546
210,545
Vol. I - 183
STATEOFNEWMEXICO
FederalDepartmentofEducationAdministration84400
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 88,569,040

88,569,040

36,213,054
109,885
(52,355,986)
109,885
88,569,040
88,569,040
36,322,939
(52,246,101)
Expenditures:
Education:
Benefits
ContractualServices
Other
OtherFinancingUses
18,237,775
35,698,640
4,664,410
29,968,215
18,237,775
35,698,640
4,664,410
29,968,215
5,913,097
18,426,251
3,270,806
8,965,131
12,324,678
17,272,389
1,393,604
21,003,084
TotalExpenditures
88,569,040
88,569,040
36,575,285
51,993,755
(252,346)
(252,346)
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Vol. I - 184
STATEOFNEWMEXICO
InstructionalMaterialsFlowthrough85600
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$ 25,308,600

25,308,600

2,400,000
20,308,600
1,502,810
(5,000,000)
1,502,810
(2,400,000)
TotalRevenues
25,308,600
27,708,600
21,811,410
(5,897,190)
Expenditures:
Education:
Other
OtherFinancingUses
25,033,576
275,024
27,433,576
275,024
24,235,081
275,024
3,198,495

25,308,600
27,708,600
24,510,105
3,198,495
(2,698,695)
(2,698,695)
Revenues:
OtherRevenue
BudgetedFundBalance
TotalExpenditures
Vol. I - 185
STATEOFNEWMEXICO
TransportationEmergencyFund88900
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
BudgetedFundBalance
3,077,714
590,130
(2,487,584)
TotalRevenues
3,077,714
590,130
(2,487,584)
3,077,714
3,077,714
3,077,714
3,077,714
(2,487,584)
(2,487,584)
Expenditures:
Education:
Other
TotalExpenditures
Vol. I - 186
STATEOFNEWMEXICO
PEDARRAFund89000
BudgetedAmounts
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
ActualAmount
Variance
Positive
(Negative)
OriginalBudget
FinalBudget
$ 40,612

40,612

(40,612)

40,612
40,612
(40,612)
40,612
40,612
288
40,324
40,612
40,612
288
40,324
(288)
(288)
Vol. I - 187
STATEOFNEWMEXICO
PublicSchoolCapitalImprovements63400
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
OtherRevenue
$
777,309

777,309
2
482,298
2
(295,011)
TotalRevenues
777,309
777,309
482,300
(295,009)
777,309
777,309
482,298
295,011
777,309
777,309
482,298
295,011
Expenditures:
Education:
Other
TotalExpenditures
Vol. I - 188
STATEOFNEWMEXICO
SpecialCapitalOutlaySeveranceTaxBonds200481600
BudgetedAmounts
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
Revenues:
OtherRevenue
$ 449,812

449,812

127
(449,685)

TotalRevenues
449,812
449,812
127
(449,685)
449,812
449,812
449,812
449,812
449,812
449,812
127
127
Expenditures:
Education:
Other
TotalExpenditures
Vol. I - 189
STATEOFNEWMEXICO
SpecialCapitalOutlayGeneralFund81800
BudgetedAmounts
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$

220,578

220,578

9,185

(211,393)

220,578
220,578
9,185
(211,393)
220,578
220,578
54,858
165,720
220,578
220,578
54,858
165,720
(45,673)
(45,673)
Vol. I - 190
STATEOFNEWMEXICO
GFCapitalOutlay93100
BudgetedAmounts
Revenues:
FederalFunds
OtherRevenue
TotalRevenues
Expenditures:
Education:
Other
TotalExpenditures
OriginalBudget
FinalBudget
ActualAmount
Variance
Positive
(Negative)
$
95,000

95,000

54,858

(40,142)

95,000
95,000
54,858
(40,142)
95,000
95,000
95,000
95,000
95,000
95,000
(40,142)
(40,142)
Vol. I - 191
COMBININGANDINDIVIDUALFUNDSTATEMENTSANDSCHEDULES
STATEOFNEWMEXICO
PUBLICEDUCATIONDEPARTMENTONLY
(WithouttheDivisionofVocationalRehabilitation)
June30,2015
Governmental
Activities
ASSETS
CURRENTASSETS:
DuefromAgencyFund
OtherAssets
TotalCurrentAssets
NONCURRENTASSETS:
CapitalAssets
TotalAssets
LIABILITIES
CURRENTLIABILITIES:
AccountsPayable
UnearnedRevenue
OtherCurrentLiabilities
$123,439,120
76,328,019
2,280,780
57,712,852
1,377,768
5,118,458
61,870
266,318,867
1,395,548
(1,082,293)
313,255
266,632,122
162,352,307
508,190
5,142,619
20,714,814
3,713,036
3,160,952
10,295,485
447,497
722,954
6,532,567
213,590,421
NETPOSITION
InvestmentinCapitalAssets
Restricted
Unrestricted
313,255
43,081,779
9,646,667
TOTALNETPOSITION
$53,041,701
Vol. I - 192
STATEOFNEWMEXICO
PUBLICEDUCATIONDEPARTMENTONLY
(WithouttheDivisionofVocationalRehabilitation)
ProgramRevenues
Functions/Programs
PRIMARYGOVERNMENT
Education
Net(Expense)
Revenueand
ChangesinNet
Position
Expenses
Chargesfor
Services
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
$3,134,326,599
5,615,815
380,021,821
(2,748,688,963)
$3,134,326,599
5,615,815
380,021,821
(2,748,688,963)
Governmental
Activities
Stategeneralfundspecialappropriations
Bondproceedsappropriations
Transfersinother
Transfersinagencyfund
Transfersoutother
TransfersoutStateGeneralfundreversionsFY15
$2,631,607,558
95,485,000
46,339,111
208,718
2,000,000
(9,240,155)
(18,535,494)
2,747,864,738
CHANGEINNETPOSTION
(824,225)
53,865,926
NETPOSTION,ENDING
$53,041,701
Vol. I - 193
STATEOFNEWMEXICO
DIVISIONOFVOCATIONALREHABILITATIONONLY
June30,2015
Governmental
Activities
ASSETS
CURRENTASSETS:
OtherAssets
TotalCurrentAssets
NONCURRENTASSETS:
CapitalAssets
TotalAssets
LIABILITIES
CURRENTLIABILITIES:
AccountsPayable
UnearnedRevenue
NETPOSITION
Restricted
TOTALNETPOSITION
$8,542,010
2,170,727
14,864
9,345
10,736,946
1,168,433
(976,452)
191,981
10,928,927
1,708,849
427,479
404,750
1,809
3,635,010
2,502,681
631,438
9,312,016
191,981
2,160,790
(735,860)
$1,616,911
Vol. I - 194
STATEOFNEWMEXICO
ProgramRevenues
Functions/Programs
PRIMARYGOVERNMENT
HealthandWelfare
Capital
Grantsand
Contributions
Net(Expense)
Revenueand
ChangesinNet
Position
Expenses
Chargesfor
Services
Operating
Grantsand
Contributions
$35,801,792
34,450
29,494,705
(6,272,637)
$35,801,792
34,450
29,494,705
(6,272,637)
Governmental
Activities
Transfersinother
Transfersoutother
$5,750,000
516,100
6,266,100
CHANGEINNETPOSTION
(6,537)
1,623,448
NETPOSTION,ENDING
$1,616,911
Vol. I - 195
STATEOFNEWMEXICO
COMBININGBALANCESHEETSGOVERNMENTALFUNDS
June30,2015
Independent
LivingServices
20570
DVRGeneral
Fund
50000
Disability
Determination
Services
50100
DVR
Recovery
Act
89000
Total
Governmental
Funds
ASSETS
InvestmentPool
DueFromFederalGovernment
DueFromOtherStateAgencies
OtherAssets
$673,099
98,370
7,868,727
1,398,862
14,864
9,345
673,495
184
8,542,010
2,170,727
14,864
9,345
TotalAssets
$771,469
9,291,798
673,495
184
10,736,946
$193,145
1,054
1,277,905
291,344
237,799
135,081
1,708,849
427,479
194,199
1,809
3,634,969
2,502,435
7,708,462
404,750
41
246
777,917
404,750
1,809
3,635,010
2,502,681
8,680,578
577,270
577,270
1,583,336
1,583,336
(104,422)
(104,422)
184
184
2,160,790
(104,422)
2,056,368
$771,469
9,291,798
673,495
184
10,736,946
LIABILITIES
AccountsPayable
InvestmentPooloverdraft
UnearnedRevenue
TotalLiabilities
FUNDBALANCES(DEFICIT)
Restricted
Unassigned(Deficit)
TotalLiabilitiesandFund
Balances(Deficit)
Vol. I - 196
STATEOFNEWMEXICO
RECONCILIATIONOFTHECOMBININGBALANCESHEETS
GOVERNMENTALFUNDSTOTHESTATEMENTOFNETPOSITION
June30,2015
Governmental
Activities
TotalFundBalanceGovernmentalFunds
(GovernmentalFundBalanceSheetDivision
ofVocationalRehabilitationOnly)
$ 2,056,368
Amountsreportedforgovernmentalactivitiesinthe
StatementofNetPositionaredifferentbecause:
Capitalassetsusedingovernmentalactivitiesarenot
funds.
CapitalAssets
TotalCapitalAssets
1,168,433
(976,452)
191,981
Someliabilitiesarenotdueandpayableinthecurrent
periodand,therefore,arenotreportedinthefund:
Compensatedabsencesduewithinoneyear
NetPositionofGovernmentalActivities
(StatementofNetPositionDivisionofVocational
RehabilitationOnly)
(631,438)
$ 1,616,911
Vol. I - 197
STATEOFNEWMEXICO
COMBININGSTATEMENTSOFREVENUES,EXPENDITURES,
ANDCHANGESINFUNDBALANCES(DEFICIT)
GOVERNMENTALFUNDS
Independent
LivingServices
20570
DVRGeneral
Fund
50000
Disability
Determination
Services
50100
DVR
Recovery
ActFunds
89000
Total
Governmental
Funds
REVENUES:
FederalGrants
OtherRevenue
TotalRevenues
$210,379
210,379
18,576,007
34,446
18,610,453
10,708,319
4
10,708,323
29,494,705
34,450
29,529,155
EXPENDITURES:
Current:
HealthandWelfare
Capitaloutlay
TotalExpenditures
1,493,282
1,493,282
23,484,491
92,743
23,577,234
10,708,320
10,708,320
35,686,093
92,743
35,778,836
(DEFICIENCY)EXCESSOFREVENUES
(UNDER)OVEREXPENDITURES
(1,282,903)
(4,966,781)
(6,249,681)
Stategeneralfundappropriations
Transfersin:
Interfund
Other
Transfersout:
Reversions
Interfund
Other
TotalotherFinancingSources(uses):
1,282,900
4,467,100
5,750,000
575,973
1,300
514,800
575,973
516,100
1,860,173
(575,973)
4,405,927
(575,973)
6,266,100
577,270
(560,854)
16,419
2,144,190
(104,425)
184
2,039,949
$577,270
1,583,336
(104,422)
184
2,056,368
Vol. I - 198
STATEOFNEWMEXICO
RECONCILIATIONOFCOMBININGSTATEMENTSOFREVENUES,
EXPENDITURESANDCHANGESINFUNDBALANCES(DEFICIT)
OFGOVERNMENTALFUNDSTOTHESTATEMENTOFACTIVITIES
Governmental
Activities
(StatementofRevenues,Expenditures,andChangesinFund
Balances/DeficitDivisionofVocationalRehabilitationOnly)
$16,419
IntheStatementofActivities,certainoperatingexpenses
(compensatedabsencespayable)aremeasuredbytheamounts
earnedduringtheyear.IntheGovernmentalFunds,however,
expendituresfortheseitemsaremeasuredbytheamountsof
financialresourcesused(essentially,theamountsactuallypaid).The
changeintheliabilitiesfortheyearwas:
Changeincompensatedabsencespayable
(51,783)
GovernmentalFundsreportcapitaloutlaysasexpenditures.However,
intheStatementofActivities,thecostofthoseassetsisallocated
overtheirestimatedusefullivesandreportedasdepreciation
expense.
CapitalOutlay
Depreciationexpense
92,743
(63,916)
Excessofcapitaloutlayoverdepreciationexpense
28,827
ChangeinNetPositionofGovernmentalActivities(Statementof
ActivitiesDivisionofVocationalRehabilitationOnly)
$ (6,537)
Vol. I - 199
AGENCYANDFIDUCIARYFUNDS
STATEOFNEWMEXICO
STATEMENTOFCHANGESINASSETSANDLIABILITIESAGENCYFUND
AgencyFund57300
Balance
June30,2014
Additions
Deletions
Balance
June30,2015
$ 5,964,212
121,071
1,415,707
126,194
(121,071)
7,379,919
126,194
$ 6,085,283
1,541,901
(121,071)
7,506,113
$ 3,118,458
2,966,825
2,000,000
(579,170)
5,118,458
2,387,655
$ 6,085,283
2,000,000
(579,170)
7,506,113
ASSETS
InterestinStateGeneral
FundInvestmentPool
TotalAssets
LIABILITIES
DuetoOtherFunds
TotalLiabilities
SeeIndependentAuditorsReport
Vol. I - 200
STATEOFNEWMEXICO
COMBININGSTATEMENTOFFIDUCIARYNETPOSITION
June30,2015
EvaLouKelly
Scholarship
61600
TutorScholars
Program
99300
TotalPrivate
PurposeTrusts
$ 40,170
20,000
4,876
45,046
20,000
60,170
4,876
65,046
$ 60,170
4,876
65,046
ASSETS
TotalAssets
LIABILITIES
TotalLiabilities
NETPOSITION
ReservedforScholarships
Vol. I - 201
STATEOFNEWMEXICO
COMBININGSTATEMENTOFCHANGESINFIDUCIARYNETPOSITION
EvaLouKelly
Scholarship
61600
TutorScholars
Program
99300
TotalPrivate
PurposeTrusts
ADDITIONS
InvestmentEarningsInterest
$ 173
173
DEDUCTIONS
ScholarshipExpense
CHANGEINNETPOSITION
173
173
59,997
4,876
64,873
NETPOSITION,ENDING
$ 60,170
4,876
65,046
Vol. I - 202
STATEOFNEWMEXICO
NOTESTOTRUSTANDAGENCYFUNDS
TrustFunds
PrivatePurpose Trust Funds are used to report arrangements under which principal or interest
benefits specific to individuals, private organizations or other government (but not the reporting
government).
EvaLouKellyScholarshipFund(SHAREFund61600)
The Eva Lou Kelly Scholarship fund accounts for assets held in trust for the
continuationof"deservingboysandgirls".
TutorScholarsProgramFund(SHAREFund99300)
The TutorScholars Program fund accounts for donations, primarily corporate, to fund
scholarships for academically successful students who tutor atrisk high school
students. Tutorscholars may receive scholarships up to $3,000 per year for use at any
publicorprivatepostsecondaryschoolinNewMexico.
AgencyFund
Agency Funds are used to account for assets held on behalf of individuals, private organizations,
other governments and/or other funds. Agency funds are custodial in nature and do not involve
measurementofresultsofoperations.
DriverSafetyFees(SHAREFund57300)
The Driver Safety Fee fund is used to accumulate the driver safety fee in the amount of
$3 for each driver's license or duplicate driver's license issued. The fees are distributed
through the State Equalization Guarantee distribution to each school district for the
purpose of providing defensive driving instruction (NMSA 1978, Section 66544). The
balance reported on the Statement of Changes in Assets and Liabilities Agency Fund
in the amount of $7,506,113 is a result of the money received from the driver's license
fees and the Legislative Appropriations Laws 2014 (Chapter 63, Section 5, Page 206)
which stipulated that $2,000,000 be transferred from this Driver Safety Fees Fund to
the Special Projects Fund 79000 for emergency support to school districts experiencing
shortfalls. During the current fiscal year, $2,000,000 of this balance was transferred to
theSpecialProjectsFund.
Vol. I - 203
OTHERSUPPLEMENTALINFORMATION
STATEOFNEWMEXICO
SUPPLEMENTALSCHEDULEOFCASHANDCASHEQUIVALENTS
Agency/Fund
GeneralFunds:
92405700
64450000
AccountName
PublicEducationDepartment(PED)
DivisionofVocationalRehabilitation(DVR)
GeneralLedger
Balance
$2,045,509
7,868,727
TotalGeneralFunds
9,914,236
SpecialRevenueandCapitalOutlayFunds:
92400500
SchoolsinNeedinImprovement
92411420
K3Plus
92420160
EdTechDeficiencyCorrectionFund
92420550
SchoolTransportationTraining
64420570
IndependentLivingServices
92430800
PrivateGrants
92433400
FamilyYouth
EducatorCertification
92439700
92445800
AdultBasicEducation
92447000
CharterSchoolStimulus
64450100
DisabilityDeterminationServices
92451300
PreKindergarten
92456200
ProfessionalDevelopment
92456800
IncentiveforSchoolImprovement
92458600
ReadingMaterials
92463300
IndianEducationAct
92463400
PublicSchoolCapitalImprovements
92463500
92463900
KindergartenPlus
92466000
InstructionalMaterialsAdoption
EducationTechnology
92466200
92466900
SchoolLibrary
92467200
FederalFoodServices
92467300
FederalDepartmentofEducationFlowthrough
92467400
FederalVocationalEducationFlowthrough
92472500
PublicBuildingEnergyEfficiencyAct
92479000
SpecialProjects
92481300
92481600
92481800
SpecialCapitalOutlayGeneralFund
FederalDepartmentofEducationAdmin
92484400
92485600
InstructionalMaterialsFlowthrough
92485700
StateSupportReserve
92485800
92488900
TransportationEmergency
92489000
PEDARRAFund
64489000
DVRARRAFund
92489200
STBCapitalOutlay
92493100
GFCapitalOutlay
113,330
9,196,710
64,347
31,390
673,099
454,197
557,192
3,805,986
122,564
14,292
(404,750)
8,245,186
856,403
113,194
155,564
3,810,293
4,432,949
1,103,044
89,002
326,123
14,263
125,207
(2,870,323)
(2,272,296)
27,590
48
59,597,298
37,097
143,781
54,542
5,636,773
4,851,993
1,000,000
13,475,840
1,253,649
7,485
184
1,648,150
28,129
TotalSpecialRevenueandCapitalOutlayFunds
116,519,525
TotalGeneralFund,SpecialRevenueandCapitalOutlayFunds
126,433,761
TrustandAgencyFunds:
92457300
92461600
92461600
92499300
7,379,919
40,170
20,000
4,876
DriverSafetyFees
EvaLouKellyScholarship
EvaLouKellyScholarshipCDwithWashingtonFederal
TutorScholarsProgram
TotalTrustandAgencyFunds
7,444,965
TotalCashandInvestments,NetofOverdrafts
$133,878,726
Vol. I - 204
STATEOFNEWMEXICO
JOINTPOWERSAGREEMENTS,MEMORANDAOFUNDERSTANDING
ANDINTERGOVERNMENTALAGREEMENTS
June30,2015
Contractor
RECIV
PecosSchools
PojoaqueSchools
QuestaSchools
RECVI(6)
RECVII(7)
RedRiverCharterSchool
RioRanchoSchools
RoswellIndp.Schools
SantaFeSchools
SocorroSchools
TaosSchools
TorCSchools
VaughnSchools
WestLasVegasSchools
ZuniSchools
EspanolaSchools
MountainairSchools
PensacoSchools
PortalesSchools
ReserveIndependentSchools
RuidosoSchools
SantaRosaSchools
ABQSchools
BelenSchools
BernalilloSchools
BloomfieldSchools
CentralSchools
ChamaValleySchools
CobreSchools
CubaSchools
DemingSchools
DexterSchools
FarmingtonSchools
GadsedenSchools
GallupMcKinleySchools
GrantsCibolaSchools
HatchValleySchools
HorizonAcademyWest
JemezValleySchools
LAPromesaCharter
LordsburgSchools
LosLunasPublicSchools
MagdalenaSchools
MesaVistaSchools
NorthValleySchools
UNM
UNMregents
RECIX
ENMU
RECIX
REC6
BurrellProfServices
UNMregents
REC9
REC9
EPICS
ScopeofWork
AcademicLanguage
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
PreK
Assesst&acct
CTWEB
CTWEB
Title1
SchoolBudget
PreK
EdQuality
EdQuality
SPED
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
302,100
246,000
210,000
80,000
388,835
543,000
35,000
1,160,250
255,000
1,755,800
188,000
108,000
200,000
30,000
330,000
130,000
135,000
60,000
60,000
200,000
42,700
129,000
54,000
3,016,800
109,632
720,000
446,000
1,220,000
90,000
595,000
45,000
492,500
112,192
650,000
1,645,000
736,170
480,000
320,000
120,000
50,000
210,000
67,800
725,000
40,874
53,000
120,000
482,119
475,000
96,235
516,450
1,150,000
162,481
43,275
204,012
1,860,021
368,496
199,000
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
12/31/2014
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
AgencyReportingRevenue/Expense
PED\RECIV
PED\PecosSchools
PED\PojoaqueSchools
PED\QuestaSchools
PED\RECVI(6)
PED\RECVII(7)
PED\RedRiverCharterSchool
PED\RioRanchoSchools
PED\RoswellIndp.Schools
PED\SantaFeSchools
PED\SocorroSchools
PED\TaosSchools
PED\TorCSchools
PED\VaughnSchools
PED\WestLasVegasSchools
PED\ZuniSchools
PED\EspanolaSchools
PED\MountainairSchools
PED\PensacoSchools
PED\PortalesSchools
PED\ReserveIndependentSchools
PED\RuidosoSchools
PED\SantaRosaSchools
PED\ABQSchools
PED\BelenSchools
PED\BernalilloSchools
PED\BloomfieldSchools
PED\CentralSchools
PED\ChamaValleySchools
PED\CobreSchools
PED\CubaSchools
PED\DemingSchools
PED\DexterSchools
PED\FarmingtonSchools
PED\GadsedenSchools
PED\GallupMcKinleySchools
PED\GrantsCibolaSchools
PED\HatchValleySchools
PED\HorizonAcademyWest
PED\JemezValleySchools
PED\LAPromesaCharter
PED\LordsburgSchools
PED\LosLunasPublicSchools
PED\MagdalenaSchools
PED\MesaVistaSchools
PED\NorthValleySchools
PED\UNM
PED\UNMregents
PED\RECIX
PED\ENMU
PED\RECIX
PED\REC6
PED
PED\UNMregents
PED\REC9
PED\REC9
PED\EPICS
Vol. I - 205
STATEOFNEWMEXICO
ANDINTERGOVERNMENTALAGREEMENTS(CONTINUED)
June30,2015
Contractor
PRO
REC7
SWREC10
BernalilloSchools
RuidosoSchools
ZuniSchools
REC9
REC9
REC2
REC3
REC10
SandiaPueblo
SWREC10
PecosValleyREC8
REC9
REC5
REC7
REC2
REC3
REC4
PatriciaBustamante
MettlerLawOffice
GuruTerathKhalsa
REC3
RC4
REC6
REC9
REC5
REC2
UNMCDD
SantoDomingo
TaosPueblo
Mescalero
SantaAna
ZiaPueblo
SanIdelfonsoPueblo
TesequePueblo
USUTAESE
REC8
REC7
SWREC10
REC9
UNMRegents
SocorroSchools
REC9
RioRanchoSchools
PuebloNambe
PuebloLaguna
PuebloofJemez
PuebloCochiti
PuebloSanFelipe
PuebloPojoaque
PuebloPicuris
PuebloSantaClara
REC9
REC6
ScopeofWork
SPED
Title1
Literacy
IndianEducation
IndianEducation
IndianEducation
IndianEducation
Assesst&acct
PrioritySchools
PrioritySchools
PrioritySchools
PrioritySchools
IndianEducation
Literacy
Literacy
Literacy
Literacy
Literacy
Literacy
Literacy
Literacy
Ethics
Ethics
Ethics
SPED
SPED
SPED
SPED
SPED
Sped
SPED
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
SPED
SPED
SPED
SPED
IndianEducation
EdQuality
SchoolHealth
CTWEB
CTWEB
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
POLICY
Literacy
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
199,000
714,312
500,000
25,000
25,000
25,000
25,000
285,179
619,574
1,504,420
2,475,360
676,240
30,000
204,682
103,474
103,342
206,465
103,474
207,612
109,571
207,983
17,310
17,310
17,310
297,881
426,847
116,598
817,368
386,126
393,545
478,548
30,000
30,000
30,000
30,000
30,000
30,000
30,000
370,980
278,980
405,144
373,978
52,300
360,959
199,500
136,143
52,591
30,000
30,000
30,000
30,000
30,000
30,000
30,000
30,000
40,000
204,682
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
12/31/2014
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
5/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\PRO
PED\REC7
PED\SWREC10
PED\RuidosoSchools
PED\ZuniSchools
PED\REC9
PED\REC9
PED\REC2
PED\REC3
PED\REC10
PED\SandiaPueblo
PED\SWREC10
PED\PecosValleyREC8
PED\REC9
PED\REC5
PED\REC7
PED\REC2
PED\REC3
PED\REC4
PED
PED
PED
PED\REC3
PED\RC4
PED\REC6
PED\REC9
PED\REC5
PED\REC2
PED\UNMCDD
PED\SantoDomingo
PED\TaosPueblo
PED\Mescalero
PED\SantaAna
PED\ZiaPueblo
PED\SanIdelfonsoPueblo
PED\TesequePueblo
PED\USUTAESE
PED\REC8
PED\REC7
PED\SWREC10
PED\REC9
PED\UNMRegents
PED\SocorroSchools
PED\REC9
PED\PuebloNambe
PED\PuebloLaguna
PED\PuebloofJemez
PED\PuebloCochiti
PED\PuebloSanFelipe
PED\PuebloPojoaque
PED\PuebloPicuris
PED\PuebloSantaClara
PED\REC9
PED\REC6
Vol. I - 206
STATEOFNEWMEXICO
June30,2015
Contractor
REC6
CentralSchools
REC9
DulceIndependentSchools
MagdalenaSchools
PuebloIsleta
CentralConsolidatedSchools
AztecSchools
UOFOKLAHOMA
APS
BernalilloSchools
SantaFeSchools
LasCrucesSchools
SocorroSchools
REC6
GadsdenSchools
REC4
REC3
BloomfieldSchools
EspanolaSchools
FarmingtonSchools
PensacoSchools
APS
RioRanchoSchools
TaosSchools
NativeAmericanCommunityAcad
SWREC10
RECVI
FarmingtonSchools
UNM
JemezMountainSchools
JicarillaApacheTribe
REC9
NMAG
NMSU
RECIX
NMSU
TaosConsortium
REC9
NMSU
SFPS
Aztecschools
ZuniPueblo
OkayOwingeh
Alamogrodoschools
SocorroSchools
RuidosoSchools
SilverSchool
LasVegasCitySchools
ABQSchools
AlamogordoSchools
LasCrucesSchools
REC9
ScopeofWork
SchoolHealth
SchoolHEalth
POLICY
SchoolHealth
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
POLICY
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
Literacy
CTWEB
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
IndianEducation
Math&Science
BilingualEducation
SchoolHealth
SchoolHealth
IndianEducation
IndianEducation
CFO
SchoolHealth
Literacy
Literacy
Math&Science
SchoolHealth
ASD
Math&Science
EdQuality
IMB
IndianEducation
IndianEducation
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
Assessment
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
15,000
624,463
40,000
331,476
25,000
30,000
25,000
25,000
25,000
1,774,883
255,212
312,563
526,510
315,330
129,825
513,548
876,999
209,428
348,350
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
1,102,742
254,880
146,876
32,000
25,000
30,000
111,800
85,000
270,000
609,393
135,000
167,108
20,000
1,198,936
10,300
288,673
30,000
30,000
12,950
12,950
7,175
7,175
418,775
1,305,018
10,000
7,461
10,000
5,000
29,305
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2016
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2014
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
12/31/2014
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\REC6
PED\CentralSchools
PED\REC9
PED\DulceIndependentSchools
PED\PuebloIsleta
PED\CentralConsolidatedSchools
PED\AztecSchools
PED\UOFOKLAHOMA
PED\APS
PED\SantaFeSchools
PED\LasCrucesSchools
PED\SocorroSchools
PED\REC6
PED\GadsdenSchools
PED\REC4
PED\REC3
PED\EspanolaSchools
PED\PensacoSchools
PED\APS
PED\TaosSchools
PED\NativeAmericanCommunityAcad
PED\WalatowaHighCharterSchool
PED\SWREC10
PED\RECVI
PED\UNM
PED\JemezMountainSchools
PED\JicarillaApacheTribe
PED\REC9
PED\NMAG
PED\NMSU
PED\RECIX
PED\NMSU
PED\TaosConsortium
PED\REC9
PED\NMSU
PED\SFPS
PED\Aztecschools
PED\ZuniPueblo
PED\OkayOwingeh
PED\Alamogrodoschools
PED\SocorroSchools
PED\RuidosoSchools
PED\SilverSchool
PED\LasVegasCitySchools
PED\ABQSchools
PED\AlamogordoSchools
PED\REC9
Vol. I - 207
STATEOFNEWMEXICO
June30,2015
Contractor
REC9
NavajoNation
UNM
GrantsCibolaSchools
REC9
CentralReg.Ed.Cooperative5
NMInstituteofMining
NMSU
NMHU
LagunaDept.ofEducation
PojoaqueValleySchools
REC9
SantaFeSchools
CottonwoodClassicPrep
DemingPublicschools
CentalSchools
SantaFePublicSchools
NMHU
CES
NMHU
REC9
REC7
PortalesSchools
UNM
NMSU
RioRanchoSchools
AcademyfortheClassics
Academyoftradesandtechnology
ACEHighSchool
AIMS@UNM
ABQCharterAcademy
ABQSchoolofExcellance
ABQSignlanguage
ABQTalentSecdryCharter
AliceKingCommunitySchool
AlmadeArteCharterSchool
AmyBiehlCharter
AnasiCharter
AnthonyCharterSchools
ASKAcademy
BataanAcademyCharterSchool
CarinosdelosNinos
CeasarChavezCommunitySchl
ChristineDuncanHeritage
CienAguasInternational
CoralCommCharterSchool
CorralesInter.School
CottonwoodClassicPrep
CottonwoodValleyCharter
CreativeEducationPrep
DemingCeasarChavezChartr
DigitalArtsamdTechAcademy
EastMountainSchool
ElCaminoRaelAcademy
EstanciaValleyAcademy
ScopeofWork
Assessment
IndianEducation
SchoolHealth
IndianEducation
IndianEducation
Literacy
Literacy
Literacy
Policy
CTWEB
SchoolHealth
SchoolHealth
SchoolHealth
IndianEducation
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
CTWEB
CTWEB
EdQuality
Literacy
SchoolHealth
SchoolHealth
CharterSchool
CharterSchool
EdQuality
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
255,875
30,000
50,000
30,000
25,000
380,410
58,581
50,000
2,328,333
177,325
89,316
25,000
210,917
25,000
5,000
7,500
7,500
10,000
270,000
26,250
377,590
223,876
100,000
5,000
662,916
425,694
50,000
9,197
2,330
5,543
7,222
5,449
7,288
1,401
3,625
3,409
4,271
4,119
6,296
1,844
1,312
6,062
1,565
2,030
3,986
3,501
5,111
1,377
4,732
1,844
2,544
4,201
1,954
6,096
6,049
5,345
7,492
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
12/31/2014
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
12/31/2014
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\REC9
PED\NavajoNation
PED\UNM
PED\REC9
PED\CentralReg.Ed.Cooperative5
PED\NMInstituteofMining
PED\NMSU
PED\NMHU
PED\LagunaDept.ofEducation
PED\PojoaqueValleySchools
PED\REC9
PED\SantaFeSchools
PED\CottonwoodClassicPrep
PED\DemingPublicschools
PED\CentalSchools
PED\SantaFePublicSchools
PED\NMHU
PED\CES
PED\NMHU
PED\REC9
PED\REC7
PED\PortalesSchools
PED\UNM
PED\NMSU
PED\AcademyfortheClassics
PED\Academyoftradesandtechnology
PED\ACEHighSchool
PED\AIMS@UNM
PED\ABQCharterAcademy
PED\ABQSchoolofExcellance
PED\ABQSignlanguage
PED\ABQTalentSecdryCharter
PED\AldoLeopoldCharterSchool
PED\AliceKingCommunitySchool
PED\AlmadeArteCharterSchool
PED\AmyBiehlCharter
PED\AnasiCharter
PED\AnthonyCharterSchools
PED\ASKAcademy
PED\BataanAcademyCharterSchool
PED\CarinosdelosNinos
PED\CeasarChavezCommunitySchl
PED\ChristineDuncanHeritage
PED\CienAguasInternational
PED\CoralCommCharterSchool
PED\CorralesInter.School
PED\CottonwoodClassicPrep
PED\CottonwoodValleyCharter
PED\CreativeEducationPrep
PED\DemingCeasarChavezChartr
PED\DigitalArtsamdTechAcademy
PED\EastMountainSchool
PED\ElCaminoRaelAcademy
PED\EstanciaValleyAcademy
Vol. I - 208
STATEOFNEWMEXICO
June30,2015
Contractor
ExploreAcademy
GilbertSenaCharterSchool
GordonBernellCharter
GreatAcademy
HealthLeadersHigh
HorizonAcademyWest
MesaDelSolInterSchool
JPaulTaylor
JeffersonMontessoriAcademy
LaAcademiaEsperanzaCharter
LaJicaritaCommSchl
LAPromesaCharter
LaResolanaAcademy
LaTierraMontessori
LaMontanaCharter
LindrithAreaHeritage
LosPuentesCharter
MASTERSProgram
McCurdyCharterSchools
MediaArtsCharter
MiddleCollegeHigh
MissionAchievementSuccessChrtr
MonteDelSolChrter
MontessoriElementary
MontessorioftheRioGrande
MorenoValleyHigh
MosaicAcademyCharter
MountainMahoganyCommunity
NewAmericaSchool
NMConnectionsacademy
NMInternationalSchool
NMSCHOOLFORTHEARTS
NMVirtualAcademy
NorthValleyAcademy
NuestrosValoresCharter
PublicAcademyforPerformingArts
RedRiverCharterSchool
RioGallinasSchool
RobertF.KennedyCharter
Roots&WingsCommunitySchl
SageMontessoriCharter
SanDiegoRiverside
TaosSchoolofArts
SchoolofDreams
SidneyGutierrezChrtrMidSchl
TaosInternationalCharter
TierraAdentro
TierraEncantadaCharterSchool
TurquoisTrailCharterSchl
TwentyFirstCenturyCharter
UpliftCommunitySchl
VistaGrandeHighSchl
ScopeofWork
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
3,401
4,025
8,673
2,107
1,977
4,406
5,018
3,501
2,824
3,089
8,226
4,224
560
4,248
2,101
1,377
3,072
303
4,054
3,683
10,459
4,958
1,000
9,863
7,939
5,275
2,474
1,436
3,267
3,314
7,997
8,873
5,508
18,211
1,890
3,860
11,909
6,932
2,660
8,455
1,214
1,657
5,606
700
2,987
1,330
2,521
7,979
1,494
303
10,192
3,594
7,476
3,803
2,451
5,415
4,685
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\ExploreAcademy
PED\GilbertSenaCharterSchool
PED\GordonBernellCharter
PED\GreatAcademy
PED\HealthLeadersHigh
PED\HealthSciencesAcademy
PED\HorizonAcademyWest
PED\MesaDelSolInterSchool
PED\JPaulTaylor
PED\JeffersonMontessoriAcademy
PED\LaAcademiaEsperanzaCharter
PED\LaAcademiaDoloresHuerta
PED\LaJicaritaCommSchl
PED\LAPromesaCharter
PED\LaResolanaAcademy
PED\LaTierraMontessori
PED\LaMontanaCharter
PED\LindrithAreaHeritage
PED\LosPuentesCharter
PED\MASTERSProgram
PED\McCurdyCharterSchools
PED\MediaArtsCharter
PED\MiddleCollegeHigh
PED\MissionAchievementSuccessChrtr
PED\MonteDelSolChrter
PED\MontessoriElementary
PED\MontessorioftheRioGrande
PED\MorenoValleyHigh
PED\MosaicAcademyCharter
PED\MountainMahoganyCommunity
PED\NewAmericaSchool
PED\NewAmericaSchoolofLasCruces
PED\NMConnectionsacademy
PED\NMInternationalSchool
PED\NMSCHOOLFORTHEARTS
PED\NMVirtualAcademy
PED\NorthValleyAcademy
PED\NuestrosValoresCharter
PED\PublicAcademyforPerformingArts
PED\RedRiverCharterSchool
PED\RioGallinasSchool
PED\RobertF.KennedyCharter
PED\Roots&WingsCommunitySchl
PED\SageMontessoriCharter
PED\SanDiegoRiverside
PED\TaosSchoolofArts
PED\SchoolofDreams
PED\SidneyGutierrezChrtrMidSchl
PED\TaosInternationalCharter
PED\TierraAdentro
PED\TierraEncantadaCharterSchool
PED\TurquoisTrailCharterSchl
PED\TwentyFirstCenturyCharter
PED\UpliftCommunitySchl
PED\VistaGrandeHighSchl
Vol. I - 209
STATEOFNEWMEXICO
June30,2015
Contractor
Will&JosephineDornCharter
AlamogordoSchools
AlbuquerqueSchools
AnimasSchools
ArtesiaSchools
AztecSchools
BelenSchools
BernalilloSchools
BloomfieldSchools
CapitanSchools
CarlsbadSchools
CarrizozoSchools
CentralConsolidatedSchools
ChamaValleySchools
CimarronSchools
ClaytonSchools
CloudcroftSchools
ClovisSchools
CobreSchools
Coronaschools
CubaSchools
DemingPublicschools
DesMoinesSchools
DexterSchools
DoraConslSchools
ElidaSchools
EspanolaSchools
EstanciaSchools
EuniceSchools
FarmingtonSchools
FloydSchools
FortSumnerSchools
GadsdenSchools
GradySchools
GrantsCibolaSchools
HagermanSchools
HatchValleySchools
HobbsSchools
HondoValleySchools
HouseSchools
JalSchools
JemezMountainSchools
JemezValleySchools
LakeArthurSchools
LasCrucesSchools
LasVegasCitySchools
LoganSchools
LordsburgSchools
LosAlamosSchools
LovingSchools
LovingtonSchools
MagdalenaSchools
MaxwellSchools
MelroseSchools
ScopeofWork
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
4,201
96,096
1,460,072
2,236
69,461
53,299
67,766
47,131
51,563
8,461
104,958
2,505
98,422
6,368
6,454
7,860
6,625
133,590
23,175
1,042
10,509
90,752
1,451
18,307
4,002
11,373
2,108
63,078
13,123
12,075
184,178
3,817
4,906
233,376
193,165
2,214
60,278
7,443
23,754
168,221
2,248
1,243
7,595
4,153
5,526
1,789
392,950
30,871
4,904
7,513
61,579
139,956
9,811
61,519
6,251
1,989
3,161
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\Will&JosephineDornCharter
PED\AlamogordoSchools
PED\AlbuquerqueSchools
PED\AnimasSchools
PED\ArtesiaSchools
PED\AztecSchools
PED\BelenSchools
PED\CapitanSchools
PED\CarlsbadSchools
PED\CarrizozoSchools
PED\CentralConsolidatedSchools
PED\ChamaValleySchools
PED\CimarronSchools
PED\ClaytonSchools
PED\CloudcroftSchools
PED\ClovisSchools
PED\CobreSchools
PED\Coronaschools
PED\CubaSchools
PED\DemingPublicschools
PED\DesMoinesSchools
PED\DexterSchools
PED\DoraConslSchools
PED\ElidaSchools
PED\EspanolaSchools
PED\EstanciaSchools
PED\EuniceSchools
PED\FloydSchools
PED\FortSumnerSchools
PED\GadsdenSchools
PED\GradySchools
PED\HagermanSchools
PED\HatchValleySchools
PED\HobbsSchools
PED\HondoValleySchools
PED\HouseSchools
PED\JalSchools
PED\JemezMountainSchools
PED\JemezValleySchools
PED\LakeArthurSchools
PED\LasVegasCitySchools
PED\LoganSchools
PED\LosAlamosSchools
PED\LovingSchools
PED\LovingtonSchools
PED\MaxwellSchools
PED\MelroseSchools
Vol. I - 210
STATEOFNEWMEXICO
June30,2015
Contractor
MesaVistaSchools
MoraSchools
MoriarityEdgewoodSchools
MosqueroSchls
MountainairSchools
PecosSchools
PenascoSchools
PojoaqueValleySchools
PortalesSchools
QuemadoSchools
QuestaSchools
RatonSchools
ReserveIndependentSchools
RioRanchoSchools
RoswellIndp.Schools
RoySchools
RuidosoSchools
SanJonSchools
SantaFeSchools
SantaRosaSchools
SilverConslSchools
SocorroSchools
SpringerSchools
TaosSchools
TatumSchools
TexicoSchools
TorCSchools
TucumcariSchools
TularosaSchools
VaughnSchools
WagonMoundSchools
WestLasVegasSchools
ZuniSchools
ABQSchools
WestLasVegasSchools
LordsburgSchools
REC9
HighPlainsREC3
BernalilloSchools
ENMU
NMSchoolfortheBlind
RECIV
REC9
DavisInnovations
NorthernNMUniversity
HighPlainsREC3
REC9
HorizonsofNM
SantaFePublicSchools
REC3
ENMU
ENMU
REC9
ScopeofWork
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
ASD
SchoolHealth
SchoolHealth
SchoolHealth
SchoolHealth
Assessment
IT
SchoolHealth
CharterSchool
CTWEB
BilingualEducation
Literacy
IT
IndianEducation
IT
Literacy
IT
Policy
Policy
IT
Policy
Policy
Policy
Responsible
Party
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
Amountof
Contract
6,195
7,645
44,672
785
4,776
10,216
6,110
35,324
45,732
2,131
5,868
15,070
2,258
295,292
168,794
620
35,161
2,350
218,991
11,278
48,859
29,131
2,745
42,791
6,378
9,924
20,977
15,969
16,226
1,356
1,042
23,343
19,743
15,000
5,000
5,000
7,500
295,952
160,000
7,500
571,667
10,000
42,963
200,002
34,025
282,026
60,000
231,516
70,000
83,850
127,000
84,682
655,524
20,000
120,000
Beginning
Date
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
7/1/2014
EndingDate
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
6/30/2015
Audit
Responsibility
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED
PED\MesaVistaSchools
PED\MoraSchools
PED\MoriarityEdgewoodSchools
PED\MosqueroSchls
PED\MountainairSchools
PED\PecosSchools
PED\PenascoSchools
PED\PojoaqueValleySchools
PED\PortalesSchools
PED\QuemadoSchools
PED\QuestaSchools
PED\RatonSchools
PED\ReserveIndependentSchools
PED\RoswellIndp.Schools
PED\RoySchools
PED\RuidosoSchools
PED\SanJonSchools
PED\SantaFeSchools
PED\SantaRosaSchools
PED\SilverConslSchools
PED\SocorroSchools
PED\SpringerSchools
PED\TaosSchools
PED\TatumSchools
PED\TexicoSchools
PED\TorCSchools
PED\TucumcariSchools
PED\TularosaSchools
PED\VaughnSchools
PED\WagonMoundSchools
PED\ZuniSchools
PED\ABQSchools
PED\REC9
PED\HighPlainsREC3
PED\ENMU
PED\NMSchoolfortheBlind
PED\RECIV
PED\REC9
PED\DavisInnovations
PED\NorthernNMUniversity
PED\HighPlainsREC3
PED\REC9
PED\HorizonsofNM
PED\SantaFePublicSchools
PED\REC3
PED\ENMU
PED\ENMU
PED\REC9
Vol. I - 211
STATEOFNEWMEXICO
SCHEDULEOFMULTIYEARBUDGETEDSPECIALCAPITALOUTLAYFUND
PUBLICSCHOOLCAPITALIMPROVEMENTSFUND63400
Project
Authorization
CASHRECEIPTS
Lawsof2001,CH338(SSTB20092010)
$18,500,000
20,000,000
20,500,000
18,500,000
20,001,934
13,200,000
14,200,000
8,500,000
Lawsof2000,CH15GeneralFund20002001
5,732,800
6,595,500
Refund
7,200,000
Lawsof1996,CH13GOBonds19961997
5,000,000
Lawsof1995,CH13GeneralFund,19951996,p182
7,000,000
Lawsof1994,CH148GeneralFund,19941995s.53p.1489 9,600,000
Adjustments
PriorYears
Current
Year
Total
toDate
18,315,111
17,789,824
18,978,783
18,001,324
17,981,305
13,037,930
13,398,000
7,741,009
5,732,800
6,595,500
34,415
7,200,000
4,995,360
7,000,000
9,600,000
442,770
164,751
234,261
18,479,862
18,024,085
18,978,783
18,001,324
17,981,305
13,037,930
13,398,000
7,741,009
5,732,800
6,595,500
34,415
7,200,000
4,995,360
7,000,000
9,600,000
442,770
TOTALCASHRECEIPTS
174,530,234
166,844,131
399,012
167,243,144
CASHOUTLAYS
Lawsof1996,CH13GOBonds19961997
Lawsof1995,CH13GeneralFund,19951996,p182
Lawsof1994,CH148GeneralFund,19941995s.53p.1489
18,500,000
20,000,000
20,500,000
18,500,000
20,001,934
13,200,000
14,200,000
8,500,000
5,732,800
6,595,500
7,200,000
5,000,000
7,000,000
9,600,000
18,564,508
17,645,067
18,760,602
17,932,990
18,035,011
13,037,930
13,398,000
7,863,033
3,648,024
5,411,351
6,061,387
5,000,000
7,374,812
9,300,170
466,489
310,819
19,030,997
17,955,886
18,760,602
17,932,990
18,035,011
13,037,930
13,398,000
7,863,033
3,648,024
5,411,351
6,061,387
5,000,000
7,374,812
9,300,170
TOTALCASHOUTLAYS
174,530,234
162,032,886
777,309
162,810,195
EXCESSOFCASHRECEIVEDOVERCASHOUTLAYS
4,811,245
(378,296)
4,432,949
RECEIVABLES,June30,2015
LIABILITIES,June30,2015
(4,367,738)
FUNDBALANCE,June30,2015
$65,211
Vol. I - 212
STATEOFNEWMEXICO
PUBLICSCHOOLCAPITALOUTLAYFUND63500
Project
Authorization
CASHRECEIPTS
Lawsof2001,Ch338(STB0405)
$16,969,586
200304SeveranceTaxBonds
86,087,753
95,676,311
200203SeveraceTaxBonds
1,000,000
Lawsof2002,Ch44(GeneralFund1420)
99,140,730
Lottery200102
3,859,271
200001,GeneralObligationBonds
5,000,000
Lotteryallocation0001
15,000,000
Lottery9900allocation(9904)
10,000,000
Lottery9900allocation
Lawsof1998,Ch7and118(STBs9803&9804)
6,400,000
13,000,000
5,000,000
Lawsof1998,Ch87(GOB9807)
10,000,000
17,500,000
7,194,579
Transfers
Reversion
(1,427,409)
TOTALCASHRECEIPTS
390,400,821
13,323,620
84,855,225
95,634,965
1,000,000
99,129,670
423,790
4,839,047
14,005,489
10,000,000
4,883,802
6,385,949
11,908,015
5,000,000
9,883,957
10,154,830
7,194,579
7,983,327
268,441
386,874,706
13,323,620
84,855,225
95,634,965
1,000,000
99,129,670
423,790
4,839,047
14,005,489
10,000,000
4,883,802
6,385,949
11,908,015
5,000,000
9,883,957
10,154,830
7,194,579
7,983,327
268,441
386,874,706
CASHOUTLAYS
Lawsof2001,Ch338(STB0405)
200203SeveraceTaxBonds
Lottery200102
200001,GeneralObligationBonds
Lotteryallocation0001
Lawsof1998,Ch7and118(STBs9803&9804)
Lawsof1998,Ch87(GOB9807)
Transfers
Adjustments
16,969,586
86,087,753
95,676,311
1,000,000
99,140,730
3,859,271
5,000,000
15,000,000
10,000,000
6,400,000
13,000,000
5,000,000
10,000,000
17,500,000
7,194,579
(1,427,409)
10,844,357
7,968
78,116,453
102,374,067
19,041
914,800
99,476,105
4,008,200
5,026,023
14,233,863
9,997,194
6,310,471
13,036,343
5,047,630
10,003,582
17,497,199
7,145,925
1,039,745
672,696
10,844,357
7,968
78,116,453
102,374,067
19,041
914,800
99,476,105
4,008,200
5,026,023
14,233,863
9,997,194
6,310,471
13,036,343
5,047,630
10,003,582
17,497,199
7,145,925
1,039,745
672,696
TOTALCASHOUTLAYS
390,400,821
385,771,662
385,771,662
1,103,044
1,103,044
PriorYears
Current
Year
TOTAL
TODATE
PAYABLES,June30,2015
$1,103,044
Vol. I - 213
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYSEVERANCETAXBONDS2000FUND81300
Project
Authorization
PriorYears
TOTALCASHRECEIPTS
$20,000
15,332,920
(721,570)
10,720,080
(50,000)
25,301,430
20,000
13,211,294
10,144,393
109,356
23,485,043
20,000
13,211,294
10,144,393
109,356
23,485,043
CASHOUTLAYS
Lawsof2003,CH429(STB)
Lawsof2002,CH110Sec23(STB)
Reversions
Lawsof2000,CH23,Sec.16(STB)
Reversions
Adjustment
Transfer
20,000
15,332,920
(721,570)
10,720,080
(50,000)
40,000
13,247,902
10,251,458
(244,073)
152,659
40,000
13,247,902
10,251,458
(244,073)
152,659
TOTALCASHOUTLAYS
25,301,430
23,447,946
23,447,946
37,097
37,097
CASHRECEIPTS
Reversions
Lawsof2000,CH23,Sec.16(STB)
Reversions
Current
Year
Total
toDate
$(37,097)
Vol. I - 214
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYSEVERENCETAXBONDS2004FUND81600
Project
Authorization
CASHRECEIPTS
Lawsof2010,CH3,Sec10C3(GOB)
$500,000
2,000,000
2,000,000
Lawsof2010,CH3,Sec10B(GOB)
2,000,000
Lawsof2010,CH7,Sec3(STB)
2,873,589
Lawsof2009,CH7(STB)
2,873,516
100,000
BOFReversions
(100,000)
Lawsof2008,Ch80(GOB)
3,000,000
7,000,000
BOFReversions
(2,000,000)
Lawsof2008CH92(STB)
12,828,469
ChangeinauthorizationFY2010
700,000
(320,469)
BOFReversions
(700,000)
ArtinPublicPlaces
(64,630)
Transfers
300,000
ArtinPublicPlaces
(3,000)
Lawsof2006,CH108(GOB)
3,000,000
BOFReversions
(422,145)
Lawsof2006CH111(STB)
19,247,200
(235,000)
(364,607)
112,377
ArtinPublicPlaces
(72,500)
BOFReversions
(41,243)
12,678,400
150,000
(402,809)
(10,400)
ArtinPublicPlaces
BOFReversions
(210,752)
11,156,000
Transfers
(4,619,877)
Other
(6,935)
BOFReversions
(90,373)
BOFReversions
(73,318)
10,963,000
(150,000)
PriorYears
Current
Year
Total
toDate
499,998
1,524,874
1,731,199
1,809,105
371,794
1,947,709
100,000
2,938,932
4,999,999
11,816,087
297,000
2,577,855
17,626,928
12,160,756
10,992,308
10,530,802
365,541
37,936
499,998
1,890,415
1,731,199
1,847,041
371,794
1,947,709
100,000
2,938,932
4,999,999
11,816,087
297,000
2,577,855
17,626,928
12,160,756
10,992,308
10,530,802
Vol. I - 215
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYSEVERENCETAXBONDS2004FUND81600(CONTINUED)
Project
Authorization
PriorYears
CASHRECEIPTS(CONTINUED)
$(686)
ArtinPublicPlaces
(14,700)
BOFReversions
(257,155)
8,975,613
8,729,660
24,453
BOF/PEDadjustment
20,000
(35,000)
(996)
BOFReversions
(275,547)
ArtinPublicPlaces
(1,050)
309,034
322,522
BOF/PEDadjustment
45,749
(2,544)
BOFReversions
8,729,660
(35,000)
322,522
45,749
TOTALCASHRECEIPTS
92,370,915
90,988,277
403,477
91,391,754
CASHOUTLAYS
Lawsof2010,CH3,Sec10B(GOB)
Lawsof2009,CH7(STB)
BOFReversions
Lawsof2008,Ch80(GOB)
BOFReversions
Lawsof2008CH92(STB)
BOFReversions
ArtinPublicPlaces
Transfers
ArtinPublicPlaces
BOFReversions
500,000
2,000,000
2,000,000
2,000,000
2,873,589
2,873,516
100,000
(100,000)
3,000,000
7,000,000
(2,000,000)
12,828,469
700,000
(320,469)
(700,000)
(64,630)
300,000
(3,000)
3,000,000
(422,145)
19,247,200
(235,000)
(364,607)
499,998
2,000,000
1,872,676
2,000,000
437,475
1,947,709
100,000
3,000,000
4,999,999
11,801,140
5,880
297,000
2,432,794
17,522,160
425,465
499,998
2,000,000
1,872,676
2,000,000
862,940
1,947,709
100,000
3,000,000
4,999,999
11,801,140
5,880
297,000
2,432,794
17,522,160
Current
Year
Total
toDate
Vol. I - 216
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYSEVERENCETAXBONDS2004FUND81600(CONTINUED)
Project
Authorization
PriorYears
CASHOUTLAYS(CONTINUED)
$112,377
ArtinPublicPlaces
(72,500)
BOFReversions
(41,243)
12,678,400
12,258,185
150,000
(402,809)
ArtinPublicPlaces
(10,400)
BOFReversions
(210,752)
11,156,000
10,953,095
Transfers
(4,619,877)
Other
(6,935)
BOFReversions
(90,373)
(73,318)
BOFReversions
10,963,000
10,099,687
(150,000)
(686)
ArtinPublicPlaces
(14,700)
BOFReversions
(257,155)
8,975,613
9,088,354
24,453
BOF/PEDadjustment
20,000
(996)
BOFReversions
(275,547)
ArtinPublicPlaces
(1,050)
309,034
218,145
BOF/PEDadjustment
(477,079)
BOFReversions
(2,544)
Transfers
(234,709)
12,258,185
10,953,095
10,099,687
9,088,354
218,145
(477,079)
(234,709)
TOTALCASHOUTLAYS
92,370,915
90,822,509
425,465
91,247,974
165,768
(21,988)
143,781
Current
Year
Total
toDate
OTHERASSETS,June30,2015
$38,186
(24,347)
FUNDBALANCE(DEFICIT),June30,2015
$157,620
Vol. I - 217
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYGENERALFUNDFUND81800
CASHRECEIPTS
Lawsof2002,CH23
IncreaseinAuthorization,Lawsof2002,CH23
Lawsof2001
Reversions2010
ReversionsReductioninAuth,Lawsof2002,CH110
Lawsof2003CH429
Reversions2010
Reauhorization,Lawsof2006,Ch.107,Sec147
Lawsof2003CH385
ReversionReductioninAuth,Lawsof2003,Ch.385(HB9)
Lawsof2004CH126Sec145
Lawsof2004CH126Sec136&137
ReversionReductioninAuth,Lawsof2004,Ch.126HB9(04
2557$25K/042472$20K)
Reversions2010
Reversions2010
Reauthorization,Lawsof2005,CH347(051969)
Reauthorization,Lawsof2007,Ch341
Lawsof2006,CH111,Sec39
Reauthorization,Lawsof2007,Ch341,item328
Reversions2010
ReauthorizationLaws2007,Ch341
Reauthorization(085285)
Lawsof2006,Ch.107,Sec.175,64,87,32,142
Lawsof2007,Ch.2,Sec.16
Reversions2012
Lawsof2007,Ch42,Sec99
Reauthorization,Lawsof2007,Ch42,Sec99
Lawsof2007,Ch334,Sec5K
Reversions2010
Lawsof2007,Ch341,Sec232,204,205,207,209,232,333
Reversions2010
Lawsof2008,Ch.83,Sec.108,173,312,102,84,115,232,351
Lawsof2009,Ch.128,varioussecs.
Refunds/cancelledwarrants
Reversionsof2012
Transfers
Project
Authorization
PriorYears
$2,178,000
85,000
1,200,000
(53,408)
373,750
(33,755)
85,000
3,280,800
(151,803)
(100,000)
880,300
(75,000)
500,000
21,330,831
2,178,000
1,200,000
250,360
17,257
3,280,800
880,300
(75,000)
500,000
21,330,831
2,178,000
1,200,000
250,360
17,257
3,280,800
880,300
(75,000)
500,000
21,330,831
(45,000)
(636,869)
20,060,590
(715,395)
(56,147)
(376,477)
50,000
25,826,000
(200,000)
(1,047,787)
(740,000)
(30,000)
256,400
11,302,100
52,305,034
50,000
(130,000)
100,000
(6,521,951)
(2,640,000)
2,421,000
18,980,000
(3,213,650)
(79,000)
405,000
(25,000)
1,528,426
(45,000)
20,060,590
50,000
25,626,000
220,000
11,302,100
52,397,149
50,000
100,000
2,421,000
19,008,465
405,000
1,453,425
21,954
6,921
368,113
9,185
(54,858)
(45,000)
20,060,590
50,000
25,626,000
220,000
11,302,100
52,397,149
50,000
100,000
2,421,000
19,008,465
405,000
1,453,425
31,140
6,921
313,255
(6,536)
Current
Year
Total
toDate
Vol. I - 218
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYGENERALFUNDFUND81800(CONTINUED)
Project
Authorization
PriorYears
Current
Year
Total
toDate
CASHRECEIPTS(CONTINUED)
Adjustments
24,872
24,872
TOTALCASHRECEIPTS
146,320,451
163,033,138
(45,673)
162,987,465
CASHOUTLAYS
Lawsof2002,CH23
InceaseinAuthorization,Lawsof2002,CH23
Lawsof2001
Reversions2010
ReversionsReductioninAuth,Lawsof2002,CH110
Lawsof2003CH429
Reversions2010
Reauthorization,Lawsof2006,Ch.107,Sec147
Lawsof2003CH385
ReversionReductioninAuth,Lawsof2003,Ch.385
Lawsof2004CH126Sec136&137
ReversionReductioninAuth,Lawsof2004,Ch.126
Reversions2010
Reversions2010
Reauthorization,Lawsof2005,CH347
Lawsof2005CH347Sec48reauthorization
Lawsof2005CH347Sec48reauthorization
Lawsof2006,CH111,Sec39
Reauthorization,Lawsof2007,Ch341,item328
Reversions2010
ReauthorizationLaws2007,Ch341
Lawsof2006,Ch.107,Sec.175,64,87,32,142
Reversions2012
Reversions2010
Reversions2012
Lawsof2007,Ch341,Sec104,204,207,209,232,333
Reversions2012
Reversions2010
Reversions2012
Lawsof2008,Ch.83,Sec.108,173,312,102,84,115,232,351
ReauthorizationLaws2006,Ch111.,Sec.52
2,178,000
85,000
1,200,000
(53,408)
373,750
(33,755)
85,000
3,280,800
(151,803)
(100,000)
880,300
(75,000)
500,000
21,330,831
(45,000)
(636,869)
20,060,590
(715,395)
(56,147)
(376,477)
50,000
25,826,000
(200,000)
(1,047,787)
(740,000)
(30,000)
256,400
11,302,100
52,305,034
(6,521,951)
(2,640,000)
2,421,000
18,980,000
(3,213,650)
(79,000)
405,000
(25,000)
2,855,622
453,968
53,408
283,522
85,000
3,401,611
151,803
100,000
531,009
126,074
20,583,475
636,869
19,554,219
715,395
1,100
50,000
230,150
24,750,338
1,047,787
216,512
9,931,610
6,536
45,301,151
6,521,951
1,790,000
231,374
2,013,633
945
14,815,628
3,213,650
36,649
40,000
891,162
25,000
2,855,622
453,968
53,408
283,522
85,000
3,401,611
151,803
100,000
531,009
126,074
20,583,475
636,869
19,554,219
715,395
1,100
50,000
230,150
24,750,338
1,047,787
216,512
9,931,610
6,536
45,301,151
6,521,951
1,790,000
231,374
2,013,633
945
14,815,628
3,213,650
36,649
40,000
891,162
25,000
Vol. I - 219
STATEOFNEWMEXICO
SPECIALCAPITALOUTLAYGENERALFUNDFUND81800(CONTINUED)
Project
Authorization
PriorYears
Current
Year
Total
toDate
CASHOUTLAYS(CONTINUED)
AIPPTransfer
Lawsof2009,Ch.128,varioussections
Reversions
Reversions2013
Adjustment
Transfers
$
1,528,425
1,200
1,187,972
1,200
1,187,972
39,394
315,724
741,480
39,394
315,724
741,480
TOTALCASHOUTLAYS
146,306,986
162,932,923
162,932,923
100,215
(45,673)
54,542
OTHERASSETS,June30,2015
$7,350
LIABILITIES,June30,2015
(220,578)
$(158,686)
Vol. I - 220
STATEOFNEWMEXICO
STBCAPITALOUTLAYFUND89200
Project
Authorization
PriorYears
Current
Year
Total
toDate
CASHRECEIPTS
Lawsof2001,CH338SB9(SSTB20112012)
Lawsof2001,CH338SB9(SSTB20102011)
Laws2001CH338SB9(SSTB20122013)
Lawsof2012,CH190(STB20122013)
Lawsof2012,CH191(STB20122013)
Lawsof2013,CH226(STB20122013)
Lawsof2013,CH226&338(SSTB20122013)
Lawsof2013,CH226&338(SSTB20122013)
Lawsof2012,CH54(GOB20122013)
$19,200,000
18,800,000
19,600,000
708,067
7,157,500
26,701,102
15,500,000
39,800,000
3,000,000
14,895,000
13,222,106
16,437,511
6,250,422
199,709
5,090,059
8,168,422
8,636,058
3,459,474
506,497
730,959
1,904,478
1,614,514
508,067
920,262
997,017
3,623,569
1,053,562
13,590,491
13,953,065
18,341,989
7,864,936
707,776
5,090,059
9,088,684
9,633,075
7,083,043
1,560,059
13,590,491
TOTALCASHRECEIPTS
165,361,669
61,970,258
24,942,919
86,913,177
CASHOUTLAYS
Laws2001CH338SB9(SSTB20122013)
Lawsof2012,CH190(STB20122013)
Lawsof2012,CH191(STB20122013)
Lawsof2013,CH226(STB20122013)
Lawsof2012,CH54(GOB20122013)
Adjustment
19,200,000
18,800,000
19,600,000
708,067
7,157,500
26,701,102
15,500,000
39,800,000
3,000,000
14,895,000
13,245,455
15,919,569
5,488,626
199,709
5,107,625
8,561,750
9,667,529
1,994,360
100,224
400,105
445,955
433,597
2,922,794
169,912
828,188
748,942
5,341,960
13,691,410
16,353,165
8,411,420
199,709
5,277,537
9,389,938
10,416,471
7,336,321
100,224
13,688,727
400,105
TOTALCASHOUTLAYS
165,361,669
60,684,952
24,580,075
85,265,026
1,285,306
362,844
1,648,150
13,688,727
$21,652,926
(22,812,931)
$488,145
Vol. I - 221
STATEOFNEWMEXICO
GFCAPITALOUTLAYFUND93100
Project
Authorization
PriorYears
CASHRECEIPTS
Lawsof2011,SenateBill373
Account101900
$689,258
680,641
LessreturnoffundstoDFA
(48,790)
Transfers
Current
Year
TotaltoDate
(54,858)
680,641
(48,790)
(54,858)
TOTALCASHRECEIPTS
689,258
631,851
(54,858)
576,993
CASHOUTLAYS
Lawsof2011,SenateBill373
Account101900
689,258
543,402
5,462
548,864
TOTALCASHOUTLAYS
689,258
543,402
5,462
548,864
88,449
(60,320)
28,129
(34,680)
$(6,551)
Vol. I - 222
OTHERINFORMATION
SCHEDULEOFVENDORINFORMATIONforPurchasesExceeding$60,000(excludingGRT)
PreparedbyAgencyStaffName:ElizabethMontaoandRandyHerrera.Date:11/20/2015
RFB#/RFP#
Typeof
Procurement
AwardedVendor
$Amount
of
$Amount
ofAwarded Amended
Contract
Contract
NameandPhysicalAddresspertheprocurementdocumentation,of
ALL Vendor(s)thatresponded
InState/Outof
StateVendor Wasthevendorin
stateandchose
(YorN)
Veteran'spreference
(Basedon
(YorN)Forfederal
Statutory
fundsanswerN/A
Definition)
BriefDescriptionoftheScopeofWork
1500001
1500001
1500001
1500001
1500002
1500003
1500004
1500006
1500006
1500006
1500006
1500007
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
Professional
Services
1500007
15924
P52700300 Emergency
NortherNewMexicoCommunityCollege
$282,026
TeachforAmerica
287,750
Brustein&Manasevit
43,801 17,120
Brustein&Manasevit
108,182
DeannaGomez
43,520
DeannaGomez
DeannaGomez
DeannaGomez
AxiomCPAsandBusinessAdvisorsLLC
419,037
WagnerValuation
299,600
NorthernNewMexicoCommunityCollege
921NPaseoDeOnate,Espaola,NM87532
NewMexicoHighlandsUniversity
1005DiamondSt.,LasVegas,NM87701
UniversityofNewMexico
1155UniversityBlvd.SE,Albuquerque,NM87106
NativeAmericanCommunityAcademy
1000IndianSchoolRd.NW,Albuquerque,NM87104
TeachforAmerica
303S1stStreetGallup,NM87301
Brustein&Manasevit
3105SouthStreetNW,Washington,DC20007
Brustein&Manasevit
3105SouthStreetNW,Washington,DC20007
DeannaGomez
Unabletolocate
VigilGroup
1776MontaoRd.NW,LosRanchosdeAlbuquerque,NM87107
MariaFidalgo
Unabletolocate
Adaptability
Unabletolocate
AxiomCPAsandBusinessAdvisorsLLC
316OsunaRd.NE,Suite401,Albuquerque,NM87107
REDW
7425JeffersonSt.,NE,Albuquerque,NM87109
WagnerValuationandFinancialForensics
5600EubankBlvd.NE,Albuquerque,NM87111
N/A
TeacherTraining
N/A
TeacherTraining
N/A
TeacherTraining
N/A
TeacherTraining
N/A
TeacherRecruitment
N/A
MOELitigation
N/A
FederalCompliance&Litigation
N/A
PublicSchoolFinanceManagement
N/A
N/A
N/A
N/A
AgencyAudit
N/A
AgencyAudit
N/A
SWCharterSchoolsTakeover
DEPARTMENTOFVOCATIONALREHABILITATION
4064400
1417494
SoleSource
AllianceEnterprises
195,969
AllianceEnterprises,Inc.
2625WillametteDr.NE,Lacey,WA98516
N/A
Softwaremaintenancecontractto
processAWAREVRcasemgt.system.
RFP#14
0001
RFP41
RFP
SanJuanCentersforIndependence
105,530
SanJuanCentersforIndependence
1204SanJuanBlvd.,Farmington,NM87401
N/A
IndependentLivingCentertoservice
personswithdisabilitiesinNMpueblos.
6440013
16565
RFP
DavisInnovations
108,950
DavisInnovations
P.O.Box4578SantaFe,NM87502
N/A
StatewideSILCcoordinator
RFP#14
0004
RFP
ChoicesCenterforIndependence
238,850
ChoicesCenterforIndependence
103N.PennsylvaniaRoswell,NM88201
N/A
IndependentLivingCentertoservice
personswithdisabilitiesinSENM.
Vol. I - 223
SCHEDULEOFVENDORINFORMATIONforPurchasesExceeding$60,000(excludingGRT)(CONTINUED)
PreparedbyAgencyStaffName:ElizabethMontaoandRandyHerrera.Date:11/20/2015
RFB#/RFP#
Typeof
Procurement
AwardedVendor
$Amount
of
$Amount
ofAwarded Amended
Contract
Contract
NameandPhysicalAddresspertheprocurementdocumentation,of
ALL Vendor(s)thatresponded
InState/Outof
StateVendor Wasthevendorin
stateandchose
(YorN)
Veteran'spreference
(Basedon
(YorN)Forfederal
Statutory
fundsanswerN/A
Definition)
BriefDescriptionoftheScopeofWork
5164400
1418112
SoleSource
IronData
$195,969
IronData
12901WorldgateDr.,Suite800,Herndon,VA20170
N/A
RFP#15
0003
RFP
EagleTalon
38,947
EagleTalon
1514CalleRedondoW.,SantaFe,NM87505
N/A
RFP#15
0003
RFP
EagleTalon
N/A
SoftwaremaintenancecontractperSSA
toprocessdisabilityclaims.
VeteransOutreachCoordinatorto
serviceveteranswithdisabilitiesinSE
NM.
VeteransOutreachCoordinatorto
serviceveteranswithdisabilitiesinSE
NM.
N/A
N/A
N/A
BryonOrtiz
115W.SantaFeAve.,UnitF,SantaFe,NM87505
CHARTERSCHOOLS
None
N/A
N/A
N/A
N/A
N/A
Vol. I - 224
STATE OF NEW MEXICO

June 30, 2015
VOLUME II

VOLUME II TABLE OF CONTENTS

VOLUME II

Volume II Table of Contents.......................................................................................................... Vol. II 1

Schedule of Expenditures of Federal Awards ....................................................................... Vol. II 2

Notes to Schedule of Expenditures of Federal Awards ..................................................... Vol. II 5
COMPLIANCE

Independent Auditors Report on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an
Audit of Financial Statements Performed in Accordance with
Government Auditing Standards ............................................................................................... Vol. II 24

Independent Auditors Report on Compliance for Each
Major Program and on Internal Control Over Compliance
Required by OMB Circular A133 ............................................................................................ Vol. II 28

Schedule of Findings and Questioned Costs .......................................................................... Vol. II 31

Summary Schedule of Prior Audit Findings ........................................................................... Vol. II 202

Exit Conference .................................................................................................................................. Vol. II 210

Vol. II - 1
STATEOFNEWMEXICO
SCHEDULEOFEXPENDITURESOFFEDERALAWARDS
Federal
Participating
Expenditures
PassThrough
FederalCFDA
Number
FederalDirect
FederalDirect
10.553
10.555
$ 96,058,970
41,405,274
137,464,244
FederalDirect
FederalDirect
FederalDirect
FederalDirect
10.560
10.582
10.579
10.574
1,591,353
1,857,905
199,189
7,498
141,120,189
FederalDirect
84.010A
94,919,698
94,919,698
FederalDirect
FederalDirect
84.377A
84.388A
2,170,997
284
2,171,281
EducationforHomelessChildrenandYouth
TotalEducationfortheHomeless
FederalDirect
84.196A
468,068
468,068
MigrantEducationStateGrantProgram
TitleIProgramforNeglectedandDelinquentChildren
MEPConsort.IncentiveGrants(MigrantConsortium)
TwentyfirstCenturyCommunityLearningCenters
RuralEducation
TitleIIIEnglishLanguageAcquisitionGrants
MathematicsandSciencePartnerships
TitleIIImprovingTeacherQualityStateGrants
GrantsforStateAssessmentsandRelatedActivities
StrivingReaders
TotalOfficeofElementaryandSecondaryEducation
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
FederalDirect
84.011A
84.013A
84.144F
84.287C
84.358B
84.365A
84.366B
84.367A
84.369A
84.371B
616,882
257,609
131,866
9,592,553
1,001,559
2,360,322
889,079
11,351,342
3,966,497
39,623
127,766,379
FederalAgency/PassThroughAgency
DEPARTMENTOFAGRICULTURE:
FoodandNutritionService:
ChildNutritionCluster:
SchoolBreakfastProgram
NationalSchoolLunchProgram
TotalChildNutritionCluster
NewMealPatterns/SAE
FreshFruitandVegetableProgram
NationalSchoolLunchProgramEquipment
TeamNutritionGrants
TOTALU.S.DEPARTMENTOFAGRICULTURE
U.S.DEPARTMENTOFEDUCATION:
OfficeofElementaryandSecondaryEducation:
TitleIGrantstoLocalEducationalAgencies
TotalTitleIGrantstoLocalEducationAgencies
SchoolImprovementCluster:
SchoolAchievementFund1003(g)
ARRASchoolImprovementGrants,RecoveryAct
TotalSchoolImprovementCluster
SeeNotestotheScheduleofExpendituresofFederalAwards
Vol. II - 2
STATEOFNEWMEXICO
SCHEDULEOFEXPENDITURESOFFEDERALAWARDS(CONTINUED)
Federal
Participating
Expenditures
PassThrough
FederalCFDA
Number
FederalDirect
FederalDirect
84.027A
84.173A
91,273,998
2,625,866
93,899,864
SpecialEducationStatePersonnelDevelopment
FederalDirect
84.323A
881,879
OfficeofInnovationandImprovement:
CharterSchools
AdvancePlacementProgram
RacetotheTop
TotalOfficeofInnovationandImprovement
FederalDirect
FederalDirect
FederalDirect
84.282A
84.330B
84.412A
1,726
47,810
8,677,364
8,726,900
OfficeofVocationandAdultEducation:
CarlPerkinsVoc.Educ.BasicGrantstoStates/Adult
Educ.StateGrantProgram
FederalDirect
84.048A
7,516,868
FederalDirect
84.395B
58,362
U.S.DEPARTMENTOFEDUCATIONcontinued:
OfficeofSpecialEducationandRehabilitativeServices:
SpecialEducationCluster(IDEA)
SpecialEducationGrantstoStates
SpecialEducationPreschoolGrants
TotalSpecialEducationCluster(IDEA)
FloridaDepartmentofEducation:
PARCCSupportofGoverningStates
TOTALU.S.DEPARTMENTOFEDUCATION
DEPARTMENTOFHEALTHANDHUMANSERVICES:
CentersforDiseaseControlandPrevention:
CentersforDiseaseControlandPrev.Investigationsand
Tech.Assistance
OfficeoftheSecretary
PregnancyAssistanceFundProgram
238,850,252
FederalDirect
93.283
343,329
FederalDirect
93.500
1,521,186
TOTALU.S.DEPARTMENTOFHEALTHANDHUMANSERVICES
1,864,515
TOTALEXPENDITURESPUBLICEDUCATIONDEPARTMENT
$ 381,834,956
Vol. II - 3
STATEOFNEWMEXICO
SCHEDULEOFEXPENDITURESOFFEDERALAWARDS(CONTINUED)
PassThrough
FederalCFDA
Number
Federal
Participating
Expenditures
FederalDirect
84.126A
$16,856,950
DIVISIONOFVOCATIONALREHABILITATION
U.S.DEPARTMENTOFEDUCATION:
OfficeofSpecialEducationandRehabilitativeServices:
RehabilitationServicesCluster
RehabilitationServicesVocationalRehabilitationGrants
toStates
TOTALREHABILITATIONSERVICECLUSTER
IndependentLivingStateGrants
Rehab.TrainingStateVocationalRehabilitationUnitIn
ServiceTraining
SupportedEmploymentServicesforIndividualswith
SevereDisabilities
TOTALU.S.DEPARTMENTOFEDUCATION
SOCIALSECURITYADMINISTRATION:
DisabilityInsurance
TOTALSOCIALSECURITYADMINISTRATION
16,856,950
FederalDirect
FederalDirect
84.169A
84.265A
210,378
26,801
FederalDirect
84.187A
281,227
17,375,356
FederalDirect
96.001
11,556,364
11,556,364
TOTALEXPENDIRUESDIVISIONOFVOCATIONALREHABILITATION
28,931,720
TOTALFEDERALEXPENDITURES
$ 410,766,676
Vol. II - 4
STATEOFNEWMEXICO
NOTESTOSCHEDULEOFEXPENDITURESOFFEDERALAWARDS
NOTE1.BASISOFPRESENTATION
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant
activity of the State of New Mexico Public Education Department ("PED") under programs of the federal
government for the year ended June 30, 2015. The information in this schedule is presented in accordance
with the requirements of the Office of Management and Budget (OMB) circular A133, Audits of States,
Local Governments, and NonProfit Organizations . Because the Schedule presents only a selected portion
of the operations of PED, it is not intended to and does not present the financial position or changes in net
positionofPED.
NOTE2.SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in OMB Circular A87, Cost Principles
forState,LocalandIndianTribalGovernments ,whereincertaintypesofexpendituresarenotallowableor
arelimitedastoreimbursement.Passthroughentityidentifyingnumbersarepresentedwhereavailable.
NOTE3.NONCASHASSISTANCE
TheDepartmentdidnotreceiveanyfederalnoncashassistanceduringtheyearendedJune30,2015.
NOTE4.LOANS
TheDepartmentdoesnothaveanyloansoutstandingwiththeFederalgovernmentatJune30,2015.
Vol. II - 5
STATE OF NEW MEXICO

NOTES TO SCHEDULE OF EXPENDITURES
OF FEDERAL AWARDS
Note 5 Subrecipients of Grant Awards

U.S. DEPARTMENT OF EDUCATION
Federal
CFDA Program
Number Name
Subrecipient Name
84.010
Title I Grants to Local Educational Agencies
ACADEMY OF TRADES & TECHNOLOGY
ACADEMY OF TRADES AND TECHNOLOGY
ACE LEADERSHIP HIGH SCHOOL
ALAMOGORDO PUBLIC SCHOOLS
ALBUQUERQUE PUBLIC SCHOOLS
ALBUQUERQUE SCHOOL OF EXCELLENCE
ALBUQUERQUE SIGN LANGUAGE ACADEMY
ALDO LEOPOLD CHARTER SCHOOL
ALMAD'ARTE CHARTER HIGH SCHOOL
AMY BIEHL CHARTER SCHOOL
ANIMAS PUBLIC SCHOOLS
ANTHONY CHARTER SCHOOL
ARTESIA PUBLIC SCHOOLS
AZTEC MUNICIPAL SCHOOLS DISTRICT #2
BELEN CONSOLIDATED SCHOOLS
BERNALILLO PUBLIC SCHOOLS
BLOOMFIELD SCHOOLS
CAPITAN MUNICIPAL SCHOOLS
CARLSBAD MUNICIPAL SCHOOLS
CARRIZOZO MUNICIPAL SCHOOLS
CENTRAL CONSOLIDATED SCHOOLS #22
CESAR CHAVEZ COMMUNITY SCHOOL
CHAMA VALLEY INDEPENDENT
CIEN AGUAS INTERNATIONAL SCHOOL
CIMARRON MUNICIPAL SCHOOLS
CLAYTON MUNICIPAL SCHOOLS
CLOUDCROFT MUNICIPAL SCHOOLS
CLOVIS MUNICIPAL SCHOOLS
COBRE CONSOLIDATED SCHOOLS
CORAL COMMUNITY CHARTER
CORONA PUBLIC SCHOOLS
CUBA INDEPENDENT SCHOOLS
DEMING PUBLIC SCHOOLS
DES MOINES MUNICIPAL SCHOOLS
DEXTER CONSOLIDATED SCHOOLS
DORA CONSOLIDATED SCHOOL
DULCE INDEPENDENT SCHOOLS #21
EAST MOUNTAIN HIGH SCHOOL
ELIDA MUNICIPAL SCHOOLS
ESPANOLA PUBLIC SCHOOL DISTRICT #55
ESTANCIA BOARD OF EDUCATION
ESTANCIA VALLEY CLASSICAL ACADEMY
EUNICE PUBLIC SCHOOLS
EXPLORE ACADEMY
FARMINGTON MUNICIPAL SCHOOLS
FLOYD MUNICIPAL SCHOOLS
FORT SUMNER MUNICIPAL SCHOOLS
GADSDEN INDEPENDENT SCHOOL DISTRICT
GALLUP MCKINLEY COUNTY SCHOOL
GILBERT L SENA HIGH SCHOOL
GRADY MUNICIPAL SCHOOLS
GRANTS/CIBOLA COUNTY SCHOOL
Amount
$ 23,533
41,560
84,665
1,284,452
20,363,685
26,926
32,987
34,809
28,894
76,155
91,501
8,236
685,131
404,271
1,473,952
970,522
944,989
78,586
1,042,393
94,608
3,183,908
70,736
90,668
33,494
65,769
128,223
97,903
1,800,811
536,979
19,669
30,396
638,315
2,513,955
63,720
203,773
62,314
230,074
28,462
26,220
1,554,942
223,033
21,935
85,875
35,025
3,415,692
56,404
56,001
6,352,553
7,069,764
84,104
19,633
1,270,791
Vol. II - 6
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
GREAT ACADEMY, THE
HAGERMAN MUNICIPAL SCHOOLS
HATCH VALLEY MUNICIPAL SCHOOLS
HEALTH LEADERSHIP HIGH SCHOOL
HEALTH SCIENCES ACADEMY
HOBBS MUNICIPAL SCHOOLS
HONDO VALLEY SCHOOLS
HORIZON ACADEMY WEST
HOUSE MUNICIPAL SCHOOL
INTERNATIONAL SCHOOL AT MESA DEL SOL,
J PAUL TAYLOR ACADEMY
JAL PUBLIC SCHOOLS
JEMEZ MTN SCHOOL DIST NO 53
JEMEZ VALLEY PUBLIC SCHOOLS
LA ACADEMIA DOLORES HUERTA
LA JICARITA COMMUNITY SCHOOL
LA PROMESA EARLY LEARNING CENTER
LA RESOLANA LEADERSHIP ACADEMY
LA TIERRA MONTESSORI SCHOOL OF THE ARTS
LAKE ARTHUR MUNICIPAL SCHOOLS
LAS CRUCES PUBLIC SCHOOLS
LAS CRUCES SCHOOL DISTRICT #2
LAS VEGAS CITY SCHOOLS
LOGAN MUNICIPAL SCHOOL
LORDSBURG MUNICIPAL SCHOOLS
LOS LUNAS SCHOOLS
LOVING MUNICIPAL SCHOOLS
LOVINGTON MUNICIPAL SCHOOLS
MAGDALENA MUNICIPAL SCHOOLS
MAXWELL MUNICIPAL SCHOOL
MEDIA ARTS COLLABORATIVE CHARTER SCHOOL
MELROSE MUNICIPAL SCHOOLS
MESA VISTA CONSOLIDATED SCHOOL
MISSION ACHIEVEMENT & SUCCESS CHARTER SC
MONTESSORI ELEMENTARY SCHOOL
MORA INDEPENDENT SCHOOLS
MORIARTY MUNICIPAL SCHOOLS
MOSQUERO MUNICIPAL SCHOOLS
MOUNTAINAIR PUBLIC SCHOOLS
NEW AMERICA SCHOOL LAS CRUCES
NEW AMERICA SCHOOL, THE
NEW MEXICO CONNECTIONS ACADEMY
NEW MEXICO SCHOOL FOR THE ARTS
NORTH VALLEY ACADEMY
PECOS INDEPENDENT SCHOOLS
PENASCO INDEPENDENT SCHOOL DISTRICT
POJOAQUE VALLEY SCHOOLS
PORTALES MUNICIPAL SCHOOLS
QUEMADO INDEPENDENT SCHOOL
QUESTA INDEPENDENT SCHOOLS
RATON PUBLIC SCHOOLS
RED RIVER VALLEY CHARTER SCHOO
RESERVE SCHOOL DISTRICT
Amount
17,211
190,647
1,102,208
37,671
39,970
1,215,030
72,787
223,245
940
23,402
32,098
56,219
110,401
120,242
80,300
27,085
144,018
28,375
29,736
35,898
312,160
7,437,297
484,497
31,133
316,458
2,379,193
55,439
497,569
503,943
31,195
39,517
67,752
63,423
107,252
48,000
194,946
710,557
2,433
194,298
27,601
80,292
175,994
34,018
128,500
248,789
107,611
182,192
972,810
60,296
105,022
367,993
12,457
136,358
Vol. II - 7
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
84.377A
84.388A
84.011A
Subrecipient Name
RIO RANCHO PUBLIC SCHOOLS
ROSWELL INDEPENDENT SCHOOL DISTRICT
ROY MUNICIPAL SCHOOLS
RUIDOSO MUNICIPAL SCHOOLS
SAGE MONTESSORI CHARTER SCHOOL
SAN JON MUNICIPAL SCHOOLS
SANTA FE PUBLIC SCHOOLS
SANTA ROSA CONSOLIDATED SCHOOL
SCHOOL OF DREAMS ACADEMY
SILVER CITY CONSOLIDATED SCHOOLS
SOCORRO CONSOLIDATED SCHOOLS
SOUTH VALLEY PREPORATORY SCHOOL
SOUTHWEST AERONAUTICS MATHEMATICS &
SOUTHWEST INTERMEDIATE LEARNING CENTER
SOUTHWEST PRIMARY LEARNING CTN
SOUTHWEST SECONDARY LEARNING
SPRINGER MUNICIPAL SCHOOLS
T OR C MUNICIPAL SCHOOLS
TAOS ACADEMY
TAOS INTEGRATED SCHOOL OF THE ARTS
TAOS INTERNATIONAL SCHOOL
TAOS MUNICIPAL SCHOOLS
TATUM MUNICIPAL SCHOOLS
TEXICO MUNICIPAL SCHOOL
TIERRA ADENTRO OF NEW MEXICO
TUCUMCARI PUBLIC SCHOOLS
TULAROSA MUNICIPAL SCHOOLS
UPLIFT COMMUNITY SCHOOL
VAUGHN MUNICIPAL SCHOOLS
WAGON MOUND PUBLIC SCHOOLS
WALATOWA CHARTER HIGH SCHOOL
WEST LAS VEGAS SCHOOL DISTRICT
ZUNI PUBLIC SCHOOL DIST
Total for CFDA 84.010
School Achievement Fund 1003(g)

School Improvement (ARRA)
Total for CFDA 84.377A and 84.388A
Migrant Education State Grant Program
Amount
1,602,894
3,477,332
11,238
532,054
12,285
39,238
3,538,521
188,233
45,957
866,076
742,913
58,489
23,062
13,220
15,434
28,474
57,513
606,712
40,343
18,281
4,789
1,083,774
55,972
177,443
65,895
529,663
805,991
34,959
25,896
117,779
16,126
615,645
956,474
93,976,149
226,261
1,277,324
195,898
284
119,949
1,819,716
52,168
134,209
50,702
78,869
30,553
44,555
130,416
12,059
Vol. II - 8
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
84.013A
84.287C
84.358B
Subrecipient Name
Amount
40,928
Total for CFDA 84.011A
574,459
Title I Program for Neglected and Delinquent Children

CENTRAL REGION EDUCATIONAL COOPERATIVE
257,609
257,609
Twentyfirst Century Community Learning Centers

1ST CHOICE ENRICHMENT PROGRAMS
APPLETREE EDUCATIONAL CENTER
ATRISCO HERITAGE FOUNDATION
NM COMMUNITY FOR LEARNING
PUEBLO OF LAGUNA DEPARTMENT OF EDUCATION
REGIONAL EDUCATION CENTER #6
RIO GRANDE EDUCATIONAL COLLABORATIVE
SAN JUAN COUNTY PARTNERSHIP
YOUTH DEVELOPMENT INC
Total for CFDA 84.287C
270,359
349,643
203,689
619,514
333,148
313,009
422,965
138,342
1,009,714
1,338,155
381,800
338,270
311,220
60,904
596,190
727,600
282,627
548,741
219,448
724,824
9,190,162
Rural Education
Total for CFDA 84.358B
77,409
450
101,654
9,764
62,025
246,438
58,279
32,486
30,114
11,205
59,529
19,278
29,837
12,832
59,715
25,562
25,188
22,925
6,917
16,082
30,340
9,076
947,105
Vol. II - 9
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
84.365
Title III English Language Acquisition Grants
BLOOMFIELD SCHOOLS
LOS ALAMOS PUBLIC SCHOOLS
LOS LUNAS SCHOOLS
REGION IX EDUCATION COOP
84.367A
Title II Improving Teacher Quality State Grants

BLOOMFIELD SCHOOLS
Amount
505,165
8,225
4,504
69,455
37,040
54,609
40,460
5,969
9,705
73,568
8,798
14,226
11,550
425,086
110,097
16,882
59,694
75,619
3,571
246,357
1,878
50,636
7,463
9,271
22,214
8,846
14,632
6,610
9,196
32,169
119,640
107,738
126
7,198
8,845
10,681
2,197,723
7,096
311,082
2,109,157
1,171
4,897
8,566
5,186
13,932
112,206
31,907
267,714
102,121
137,462
Vol. II - 10
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
COTTONWOOD CLASSICAL PREPARATORY SCHOOL
JAL PUBLIC SCHOOLS
LOS LUNAS SCHOOLS
Amount
24,540
200,839
8,268
356,996
9,084
14,568
3,736
826
20,302
9,799
313,925
55,191
2,361
6,512
69,468
162,726
1,963
33,866
1,683
28,902
8,185
2,726
21,827
51,817
9,275
10,278
489,944
1,500
1,173
623,480
6,906
1,522
172,105
17,442
98,154
3,778
5,646
4,621
1,194
6,698
5,543
3,325
24,179
3,269
33,647
1,132
3,218
1,559,891
101,296
14,159
56
49,485
399,508
Vol. II - 11
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
MASTERS PROGRAM, THE
NM INTERNATIONAL SCHOOL, THE
TAOS ACADEMY
Amount
10,723
28,477
23,043
5,075
2,362
11,448
10,818
42,996
13,980
18,150
114,417
1,700
3,029
5,258
3,538
2,863
11,845
39,397
11,703
35,481
146,830
3,428
20,066
141,549
13,019
169,082
412,358
945
132,088
10,820
623,237
19,427
675
75,028
73,278
5,394
3,638
19,090
(50)
1,900
93,488
13,099
17,182
6,435
76,917
100,689
10,056
5,228
83,241
11,916
10,861,387
Vol. II - 12
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
84.027A
Special Education Grants to States
ASK ACADEMY
BLOOMFIELD SCHOOLS
CENTRAL REGION EDUCATIONAL COOPERATIVE
COTTONWOOD CLASSICAL PREPARATORY SCHOOL
CREATIVE EDUCATION PREPARATORY
EXPLORE ACADEMY
Amount
31
27,834
55,451
1,379,123
20,670,725
41,784
30,195
30,133
39,091
130,924
62,107
14,174
899,381
40,678
983,038
1,058,274
652,938
747,521
133,245
1,452,809
32,057
1,913,396
238,341
42,248
106,587
45,060
234,182
133,641
138,468
2,097,148
433,896
12,736
25,681
75,947
72,996
169,042
894,524
33,785
287,937
65,021
166,310
92,482
22,737
991,748
158,352
52,206
227,245
31,803
3,051,574
48,745
88,063
3,297,009
Vol. II - 13
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
GREAT ACADEMY, THE
JAL PUBLIC SCHOOLS
LA JICARITA COMMUNITY SCHOOL
LOS LUNAS SCHOOLS
MASTERS PROGRAM, THE
MCCURDY CHARTER SCHOOL
MONTESSORI ELEMENTARY SCHOOL
NEW MEXICO SCHOOL FOR THE DEAF
NM INTERNATIONAL SCHOOL, THE
NM SCHL FOR THE BLIND &VISUALLY IMPAIRED
Amount
2,333,093
40,567
12,266
786,667
28,921
112,753
292,508
35,036
17,059
1,787,007
30,849
68,987
21,751
48,210
39,839
152,133
65,471
101,613
27,253
290
56,797
18,454
20,792
30,625
903,062
5,337,720
562,702
84,145
155,187
918,356
2,014,534
134,713
727,583
97,459
13,419
74,188
95,023
35,261
62,454
104,949
42,731
52,885
95,463
871,307
16,407
79,143
39,346
43,676
100,640
39,103
73,546
24,307
25,437
Vol. II - 14
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
84.048A
Subrecipient Name
SAGE MONTESSORI CHARTER SCHOOL
SOUTHWEST AERONAUTICS MATHEMATICS &
SOUTHWEST INTERMEDIATE LEARNING CENTER
SOUTHWEST PRIMARY LEARNING CTN
SOUTHWEST SECONDARY LEARNING
TAOS ACADEMY
TAOS INTEGRATED SCHOOL OF THE ARTS
WILLIAM W & JOSEPH CHARTER COMMUNITY SCH
Amount
76,566
199,407
106,119
454,313
528,974
43,812
118,972
307,489
45,968
52,947
3,308,008
2,470,430
26,392
512,736
35,238
34,599
3,070,463
165,497
38,640
817,245
610,417
28,991
16,017
7,637
11,394
29,113
52,989
340,294
36,279
26,262
12,910
922,766
112,233
128,156
46,934
299,455
262,448
13,358
62,382
46,333
3,223
375,982
7,307
394,435
78,945,240
Carl Perkins Voc. Educ. Basic Grants to States/Adult Educ. State Grant Program
66,519
1,176,929
18,106
57,201
88,157
BLOOMFIELD SCHOOLS
34,083
Vol. II - 15
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
84.196A
Subrecipient Name
CENTRAL NEW MEXICO COMMUNITY COLLEGE
CLOVIS COMMUNITY COLLEGE
EASTERN NEW MEXICO UNIVERSITYROSWELL
LOS LUNAS SCHOOLS
NORTHEAST REGIONAL EDUCATION
NORTHERN NEW MEXICO COLLEGE
REGENTS OF NEW MEXICO STATE UNIVERSITY
REGION IX EDUCATION COOP
SAN JUAN COLLEGE
SANTA FE COMMUNITY COLLEGE
THE UNIVERSITY OF NEW MEXICO
WESTERN NEW MEXICO UNIVERSITY
Education for Homeless Children and Youth

LOS LUNAS SCHOOLS
Amount
75,302
50,239
997,604
122,200
92,527
59,456
2,910
140,824
58,678
122,372
295,862
124,073
30,726
1,721
2,688
307,210
83,358
15,083
43,505
47,466
70,380
32,842
547,620
77,880
139,392
127,972
316,467
252,710
92,590
16,312
5,969
18,936
267,988
105,124
22,561
6,209,542
9,800
67,894
24,882
33,818
14,007
541
20,036
16,992
27,272
3,165
27,820
10,020
18,354
54,926
1,826
Vol. II - 16
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
84.137A
Subrecipient Name
Amount
5,207
6,402
209
Special Education Preschool

BLOOMFIELD SCHOOLS
JAL PUBLIC SCHOOLS
343,171
77,970
355,837
5,590
54,103
18,821
8,553
33,296
69,143
3,264
42,454
2,331
30,108
1,086
13,087
13,480
498
67,875
10,339
199
8,751
17,599
933
11,510
7,940
5,457
807
12,114
12,064
2,157
38,784
13,071
5,686
75,130
146,874
1,391
37,571
5,755
15,253
72,201
4,572
8,523
3,343
5,774
2,798
115,108
7,927
5,021
Vol. II - 17
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
LOS LUNAS SCHOOLS
Amount
19,998
21,506
42,440
6,577
22,286
9,432
2,266
3,945
3,004
2,305
51,210
1,871
2,563
6,264
8,193
2,302
9,890
1,002
429
26,158
6,402
43,149
82,119
26,577
3,000
43,722
4,491
25,233
10,732
2,483
13,913
16,882
18,071
7,851
21,561
9,325
2,859
2,536
11,326
3,320
TOTAL U.S. DEPARTMENT OF EDUCATION
2,051,341
$ 207,373,604
DEPARTMENT OF AGRICULTURE
10.555
National School Lunch Program
21ST CENTURY PUBLIC ACADEMY
$ 9,298
31,588
62,791
ALAMO NAVAJO SCHOOL BOARD INC
264,583
1,813,956
ALBUQUERQUE ACADEMY
46,532
29,696,531
40,865
31,438
ALBUQUERQUE TALENT DEVELOPMENT SECONDAR 61,916
ALICE KING COMMUNITY SCHOOL
35,894
44,359
AMIKIDS INC
31,599
32,197
Vol. II - 18
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
BERNALILLO, COUNTY OF
BLOOMFIELD SCHOOLS
BORREGO PASS SCHOOL
CALVARY CHRISTIAN ACADEMY
CHAVES COUNTY
CHILDHAVEN INC
CH'OOSHGAI COMMUNITY
CHRIST LUTHERAN CHURCH
CHRISTINE DUNCAN HERITAGE ACADEMY
CORRALES INTERNATIONAL SCHOOOL
CRYSTAL BOARDING
CURRY COUNTY
DOI BUREAU OF INDIAN EDUCATION
DONA ANA COUNTY
DZILTHNAODITHHLE COMMUNITY
EL CAMINO REAL ACADEMY
EXPLORE ACADEMY
GALLUP CATHOLIC
Amount
59,596
26,293
1,041,358
933,534
2,181,900
1,760,037
86,408
1,129,943
94,503
2,981
178,588
2,482,615
82,676
3,450,569
49,554
213,024
20,832
27,893
224,793
2,322
145,862
47,694
203,578
166,425
68,339
3,560,250
854,159
20,220
34,379
16,806
93,899
327,709
9,870
4,087,666
25,730
580,013
2,854,123
36,872
57,246
358,152
99,837
242,436
46,465
1,654,081
282,587
256,856
16,005
2,999,930
90,985
107,923
8,507,261
10,324
5,765,485
Vol. II - 19
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
GUADALUPE MONTESSORI SCHOOL INC
HOLY CROSS SCHOOL SC
IMMANUEL LUTHERAN CHURCH/SCHOOL
JAL PUBLIC SCHOOLS
JEFFERSON MONTESSORI ACADEMY
LA ACADEMIA DE ESPERANZA
LAS CRUCES CATHOLIC SCHOOL INC
LAS MONTANAS CHARTER HIGH SCHOOL
LINDRITH AREA HERITAGE SCHOOL
LOS LUNAS SCHOOLS
LOS PUENTES CHARTER SCHOOL
MCCURDY CHARTER SCHOOL
MESCALERO APACHE SCHOOL
MONTE DEL SOL CHARTER SCHOOL
MOUNTAIN MAHOGANY COMMUNITY SCHOOL
NA NEELZHIIN JI OLTA INC
NATIVE AMERICAN COMMUNITY ACADEMY
Amount
11,217
44,722
2,053,130
19,075
307,605
807,180
34,231
81,300
2,644,052
15,718
52,593
228,585
14,562
12,366
47,387
35,315
123,202
34,781
138,414
190,560
216,560
89,467
325,813
50,740
79,665
10,007
9,248,613
57,542
651,111
10,784
88,282
258,274
65,211
3,446,689
80,900
369,140
1,106,822
204,024
38,911
157,242
44,890
58,261
184,562
218,488
267,494
64,414
315,893
853,815
9,323
23,609
143,223
89,340
165,689
Vol. II - 20
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
NAVAJO PREPARATORY SCHOOL INC
NEW MEXICO SCHOOL FOR THE DEAF
NM DEPARTMENT OF MILITARY AFFAIRS
NM SCHL FOR THE BLIND &VISUALLY IMPAIRED
NM SCHOOL FOR ARCHITECTURE CONSTRUCTION
NUESTROS VALORE CHARTER SCHOOL
OHKAY OWINGEH COMMUNITY SCHOOL
OUR LADY OF ASSUMPTION
PUBLIC ACADEMY PERFORMING ARTS
PUEBLO OF LAGUNA DEPARTMENT OF EDUCATION
QUAY COUNTY
QUEEN OF HEAVEN SCHOOL
RAMAH NAVAJO SCHOOL BOARD INC
REHOBOTH CHRISTIAN SCHOOL
RIO GALLINAS CHARTER
ROBERT F KENNEDY CHARTER
SAN DIEGO RIVERSIDE SCHOOL
SAN FELIPE DE NERI SCHOOL
SAN JUAN, COUNTY OF
SANTA FE INDIAN SCHOOL INC
SANTA FE, COUNTY OF
SANTO NINO REGIONAL CATHOLIC SCHOOL
SEQUOYAH ADOLESCENT CENTER
SHIPROCK ALTERNATIVE SCHOOLS INC
SOUTH VALLEY ACADEMY
ST ANTHONY INDIAN SCHOOL INC
ST BONAVENTURE INDIAN MISSION AND SCHOOL
ST CHARLES BORROMEO SCHOOL
ST FRANCIS OF ASSISI SCHOOL
Amount
131,704
35,540
81,523
11,448
44,366
87,382
13,645
21,885
135,884
31,207
65,532
9,049
325,223
229,898
762,521
1,136,130
47,469
186,901
2,808
2,944
60,219
207,363
94,669
468,064
26,341
159,437
49,755
44,185
3,351,433
100,644
5,867,597
18,778
848,871
70,046
19,790
44,492
70,492
327,861
5,062,242
31,853
375,134
36,855
48,641
234,259
1,122,198
905,785
199,384
55,547
80,034
78,475
127,978
17,695
51,353
Vol. II - 21
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
10.579
10.582
Subrecipient Name
ST FRANCIS SCHOOL
ST MARY SCHOOL
ST MARY SCHOOL LUNCH PROGRAM
ST THERESE CATHOLIC SCHOOL
ST. TERESA OF AVILA SCHOOL, INC.
ST. THOMAS AQUINAS SCHOOL
TOHAJILEE COMMUNITY SCHOOL BOARD OF
UNIVERSITY OF NEW MEXICO HOSPITAL
WILLIAM W & JOSEPH CHARTER COMMUNITY SCH
YOUTH DEVELOPMENT INC
CYFD
MILITARY AFFAIRS
National School Lunch Program

ALAMO NAVAJO SCHOOL BOARD INC
LINDRITH AREA HERITAGE SCHOOL
LOS LUNAS SCHOOLS
NUESTROS VALORE CHARTER SCHOOL
OHKAY OWINGEH COMMUNITY SCHOOL
Fresh Fruits and Vegetables
Amount
37,067
48,104
18,868
20,650
22,790
30,604
706,812
1,371,384
76,509
118,752
61,989
247,849
595,008
442,963
43,062
37,577
53,286
38,718
35,435
1,103,085
34,333
10,129
919,405
417,902
55,500
135,941,236
12,869
12,500
13,573
7,500
12,000
11,982
12,500
11,000
12,500
5,295
6,497
15,414
5,488
10,913
6,034
11,400
10,415
12,000
9,308
199,188
56,808
108,396
63,063
Vol. II - 22
STATE OF NEW MEXICO

OF FEDERAL AWARDS

Federal
CFDA Program
Number Name
Subrecipient Name
BLOOMFIELD SCHOOLS
CHRISTINE DUNCAN HERITAGE ACADEMY
DOI BUREAU OF INDIAN EDUCATION
EL CAMINO REAL ACADEMY
ST ANTHONY INDIAN SCHOOL INC
TOTAL DEPARTMENT OF AGRICULTURE
TOTAL SUBRECIPIENT FUNDS PASSED THROUGH
Amount
78,152
6,972
8,503
4,191
33,695
119,502
1,819
14,944
10,779
78,906
51,691
324,039
137,673
72,062
1,519
18,830
306,100
45,667
5,957
6,976
3,717
10,400
29,985
6,008
6,945
3,915
6,415
27,819
45,951
4,740
4,801
25,937
899
1,112
28,091
29,568
1,792,547
$ 137,932,971
$ 345,306,575
Vol. II - 23
COMPLIANCE
INDEPENDENTAUDITORSREPORTONINTERNALCONTROLOVERFINANCIALREPORTINGANDON
COMPLIANCEANDOTHERMATTERSBASEDONANAUDITOFFINANCIALSTATEMENTSPERFORMED
INACCORDANCEWITHGOVERNMENTAUDITINGSTANDARDS
andMr.TimKeller
Wehaveaudited,inaccordancewiththeauditingstandardsgenerallyacceptedintheUnitedStatesof
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities,eachdiscretelypresentedcomponentunit(NewMexicostatecharteredcharterschools),each
major fund, and the aggregate remaining fund information, and the budgetary comparisons for the
generalandmajorspecialrevenuefundsoftheNewMexicoEducationDepartment(Department),as
of and for the year ended June 30, 2015, and the related notes to the financial statements, which
collectively comprise the Departments basic financial statements, and the Departments nonmajor
governmental funds and fiduciary funds, and the budgetary comparison for the major capital projects
fundandallnonmajorfundspresentedassupplementaryinformationintheaccompanyingcombining
andindividualfundfinancialstatements,andhaveissuedourreportthereondatedNovember20,2015.
Wedisclaimedouropiniononsixcomponentunitsstatements.Seeouropinionbeginningonpage10of
volumeIforfurtherdetails.
InternalControloverFinancialReporting
In planning and performing our audit of the financial statements, we considered the Departments
internal control over financial reporting (internal control) to determine the audit procedures that are
appropriateinthecircumstancesforthepurposeofexpressingouropinionsonthefinancialstatements,
but not for the purpose of expressing an opinion on the effectiveness of the Departments internal
control. Accordingly, we do not express an opinion on the effectiveness of the Departments internal
control.
Ourconsiderationofinternalcontrolwasforthelimitedpurposedescribedintheprecedingparagraph
andwasnotdesignedtoidentifyalldeficienciesininternalcontrolthatmightbematerialweaknessesor
significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that
were not identified. However, as described in the accompanying schedule of findings and questioned
costs,weidentifiedcertaindeficienciesininternalcontrolthatweconsidertobematerialweaknesses
andsignificantdeficiencies.
A deficiency in internal control exists when the design or operation of a control does not allow
managementoremployees,inthenormalcourseofperformingtheirassignedfunctions,toprevent,or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combinationofdeficiencies,ininternalcontrolsuchthatthereisareasonablepossibilitythatamaterial
misstatementoftheentitysfinancialstatementswillnotbeprevented,ordetectedandcorrectedona
timelybasis.Weconsiderthefollowingdeficiencies,describedintheaccompanyingscheduleoffindings
Vol. II - 24

andquestionedcosts,tobematerialweaknesses.
Entity
ASKAcademyFoundation
CreativeEducationPreparatoryInstitute
DreamDineCharterSchool
J.PaulTaylor
SWAeronautics,Mathematics,ScienceAcademy
SWIntermediateLearningCenter
SWPrimaryLearningCenter
SWSecondaryLearningCenter
MaterialWeaknessReference
2015001
2015002
2012002
2015002
2015001
2009024,2011001,2011003,2013002
2014001,2015001
2015001
2015003
2014001
2014001
2014001
2014001
A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less

severe than a material weakness, yet important enough to merit attention by those charged with
governance. We consider the following deficiencies, described in the accompany schedule of findings
andquestionedcosts,tobesignificantdeficiencies.
Entity
SignificantDeficiencyReference
2014003
2015001
2015003
2015001,2015003
2015001
2014003
2014002
2015002
ExploreAcademy
2015001
GilbertLSena
2014001,2015003
2015001
HealthScienceAcademy
J.PaulTaylor
2014001
LaAcademiaDoloresHuertaCharterSchool
2015001,2015004
2014001,2015001
2015002
TheMastersProgram
2014002
2014006
2014001,2015001
2014004
NorthValleyAcademy
2015001
2015002
2015002
2015001
TierraAdentro
2014001,2015001
2014001,2015002
2015003,2015005
Vol. II - 25
ComplianceandOtherMatters
As part of obtaining reasonable assurance about whether the Departments financial statements are
freefrommaterialmisstatement,weperformedtestsofitscompliancewithcertainprovisionsoflaws,
regulations, contracts, and grant agreements, noncompliance withwhich could have a direct and
materialeffectonthedeterminationoffinancialstatementamounts.However,providinganopinionon
compliancewiththoseprovisionswasnotanobjectiveofouraudit,andaccordingly,wedonotexpress
suchanopinion.Theresultsofourtestsdisclosedinstancesofnoncomplianceorothermattersthatare
required to be reported under Government Auditing Standards and which are described in the
accompanyingscheduleoffindingsandquestionedcostsasitems:
Entity
ComplianceandOtherMattersReference
2013003,2013005
2014004
2013001
2015001,2015004
AlbuquerqueInstituteforMathematics&Science
2015001
2015002,2015004
AlbuquerqueSignLanguage
2014001,2014002
2014001,2015001,2015002,2015003
AmyBiehl
2014001,2015001
2014001,2014002,2014003,2015001
2015002
2013001,2015001
TheASKAcademy
CesarChavez
2015001
2014001,2014002,2014003,2015001
2015002
CoralCommunityCharterSchool
2014001,2014002,2015001,2015002
2014002,2014003,2015002,2015003
2015004
2011002,2012003,2014002,2014005
DreamDineCharterSchool
2015002
2014003,2015001
2015001
ExploreAcademy
2015002,2015003
2015001,2015002,2015004
GilbertLSena
TheGreatAcademy
2015001,2015002
2015001,2015002,2015003,2015004
2015005,2015006
2015002,2015003,2015004
HorizonAcademyWest
2014001,2014005,2015001,2015002
2015003
2014001
TheInternationalSchoolatMesaDelSol
J.PaulTaylor
2015001,2015002
LaAcademiaDoloresHuertaCharterSchool
2015002,2015003,2015005
2014003,2015001
2015002
2015001
Vol. II - 26

Entity
TheMastersProgram
NewAmericaSchool
NewAmericaSchoolLasCruces
NewMexicoSchooloftheArts
NorthValleyAcademy
RalphJBunch
SchoolofDreams
SWAeronautics,Mathematics,ScienceAcademy
SWIntermediateLearningCenter
SWPrimaryLearningCenter
SWSecondaryLearningCenter
TaosAcademy
TaosInternationalSchool
TierraAdentro
WilliamWandJosephineDornCharterSchool
ComplianceandOtherMattersReference
2014001,2014003,2015001
2014003,2014007
2014001
2014002
2012002,2015001,2015002,2015003
2014001,2014002,2015001
2014002,2014003,2015001
2014005,2015001
2015001,2015002,2015003
2014002,2015002
2015002
2015001,2015003,2015004
2014002,2015001,2015003
2014001,2015001,2015002
2014002
2014002
2014002
2014002
2014001,2015001,2015002
2015001,2015002,2015003
2015001,2015002,2015003,2015004
2009003,2013002,2014001
2015002,2015003,2015004,2015005
2013002,2014003,2014004,2015001
2015003
2013001,2013004,2014001,2014002
2015001,2015002,2015004
2014001,2014002,2014005,2015001
DepartmentsResponsetoFindings
The Departments response to the findings identified in our audit is described in the accompanying
schedule of findings and questioned costs. The Departments responses were not subjected to the
auditing procedures applied in the audit of the financial statements and, accordingly, we express no
opiniononthem.
PurposeofthisReport
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entitys internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entitys internal control and
compliance.Accordingly,thiscommunicationisnotsuitableforanyotherpurpose.
November20,2015
Vol. II - 27
INDEPENDENTAUDITORSREPORTONCOMPLIANCEFOREACHMAJORPROGRAM
ANDONINTERNALCONTROLOVERCOMPLIANCEREQUIREDBYOMBCIRCULARA133
andMr.TimKeller
ReportonComplianceforEachMajorFederalProgram
WehaveauditedtheNewMexicoEducationDepartments(Department)compliancewiththetypesof
compliancerequirementsdescribedintheOMBCircularA133ComplianceSupplementthatcouldhave
directandmaterialeffectoneachoftheDepartmentsmajorfederalprogramsfortheyearendedJune
30,2015.TheDepartmentsmajorfederalprogramsareidentifiedinthesummaryofauditorsresults
sectionoftheaccompanyingscheduleoffindingsandquestionedcosts.
ManagementsResponsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and
grantsapplicabletoitsfederalprograms.
AuditorsResponsibility
Our responsibility is to express an opinion on compliance for each of the Departments major federal
programsbasedonourauditofthetypesofcompliancerequirementsreferredtoabove.Weconducted
ourauditofcomplianceinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesof
America; the standards applicable to financial audits contained in Government Auditing Standards,
issuedbytheComptrollerGeneraloftheUnitedStates;andOMBCircularA133,AuditsofStates,Local
Governments,andNonProfitOrganizations.ThosestandardsandOMBCircularA133requirethatwe
plan and perform the audit to obtain reasonable assurance about whether noncompliance with the
typesofcompliancerequirementsreferredtoabovethatcouldhaveadirectandmaterialeffectona
major federal program occurred. An audit includes examining, on a test basis, evidence about the
Departments compliance with those requirements and performing such other procedures as we
considerednecessaryinthecircumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major
federal program. However, our audit does not provide a legal determination of the Departments
compliance.
BasisforModifiedOpinionontheRehabilitationServicesCFDA84.126Program
As described in the accompanying schedule of findings and questioned costs, the Department did not
complywithrequirementsregardingCFDA84.126RehabilitationServicesasdescribedinfindingnumber
2015003 for Level of Effort. Compliance with such requirements is necessary, in our opinion, for the
Departmenttocomplywiththerequirementsapplicabletothatprogram.
Vol. II - 28

ModifiedOpinionontheRehabilitationServicesCFDA84.126Program
Inouropinion,exceptforthenoncompliancedescribedintheBasisforQualifiedOpinionparagraph,the
Department complied, in all material respects, with the types of compliance requirements referred to
abovethatcouldhaveadirectandmaterialeffectonCFDA84.126RehabilitationServicesfortheyear
endedJune30,2015.
UnmodifiedOpiniononEachoftheOtherMajorFederalPrograms
In our opinion, the Department complied, in all material respects, with the types of compliance
requirementsreferredtoabovethatcouldhaveadirectandmaterialeffectoneachofitsothermajor
federalprogramsidentifiedinthesummaryofauditorsresultssectionoftheaccompanyingscheduleof
findingsandquestionedcostsfortheyearendedJune30,2015.
ReportonInternalControloverCompliance
Management of the Department is responsible for establishing and maintaining effective internal
controlovercompliancewiththetypesofcompliancerequirementsreferredtoabove.Inplanningand
performingourauditofcompliance,weconsideredtheDepartmentsinternalcontrolovercompliance
with the types of requirements that could have a direct and material effect on each major federal
program to determine the auditing procedures that are appropriate in the circumstances for the
purposeofexpressinganopiniononcomplianceforeachmajorfederalprogramandtotestandreport
oninternalcontrolovercomplianceinaccordancewithOMBCircularA133,butnotforthepurposeof
expressinganopinionontheeffectivenessofinternalcontrolovercompliance.Accordingly,wedonot
expressanopinionontheeffectivenessoftheDepartmentsinternalcontrolovercompliance.
Our consideration of internal control over compliance was for the limited purpose described in the
preceding paragraph and was not designed to identify all deficiencies in internal control over
compliance that might be material weaknesses or significant deficiencies and therefore, material
weaknessesorsignificantdeficienciesmayexistthatwerenotidentified.However,asdiscussedbelow,
we identified certain deficiencies in internal control over compliance that we consider to be material
weaknessesandsignificantdeficiencies.
Adeficiencyininternalcontrolovercomplianceexistswhen the designoroperationofacontrolover

compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal program on a timely basis. A material weakness in internal control over
complianceisadeficiency,orcombinationofdeficiencies,ininternalcontrolovercompliance,suchthat
thereisareasonablepossibilitythatmaterialnoncompliancewithatypeofcompliancerequirementof
afederalprogramwillnotbeprevented,ordetectedandcorrected,onatimelybasis.Weconsiderthe
deficiencyininternalcontrolovercompliancedescribedintheaccompanyingscheduleoffindingsand
questionedcostsasitem2015003tobeamaterialweakness.
A significant deficiency in internal control over compliance is a deficiency, or a combination of

deficiencies, in internal control over compliance with a type of compliance requirement of a federal
programthatislessseverethanamaterialweaknessininternalcontrolovercompliance,yetimportant
enoughtomeritattentionbythosechargedwithgovernance.Weconsiderthedeficiencysininternal
control over compliance described in the accompanying schedule of findings and questioned costs as
items2014007and2015004tobeasignificantdeficiencys.
Vol. II - 29

The Departments response to the internal control over compliance findings identified in our audit is
describedintheaccompanyingscheduleoffindingsandquestionedcosts.TheDepartmentsresponse
was not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we
expressnoopinionontheresponse.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testingofinternalcontrolovercomplianceandtheresultsofthattestingbasedontherequirementsof
OMBCircularA133.Accordingly,thisreportisnotsuitableforanyotherpurpose.
November20,2015
Vol. II - 30
STATEOFNEWMEXICO
SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS
SectionISummaryofAuditorsResults
FinancialStatements
Typeofauditorsreportissued:
Unmodified, disclaimer on multiple

aggregatediscretelypresented
componentunits
Internalcontroloverfinancialreporting:
Significantdeficiency(ies)identified?
Noncompliancematerialtofinancialstatements
YesNo
YesNonereported
Noted?
Materialweakness(es)identified?
YesNo
Materialweakness(es)identified?
Significantdeficiency(ies)identified?
TypeofAuditorsReportissuedoncompliance
formajorprograms:
YesNo
YesNonereported
Modified
YesNo
FederalAwards
Internalcontrolovermajorprograms:
Anyauditfindingsdisclosedthatarerequiredto
bereportedinaccordancewithsection510(a)of
CircularA133?
IdentificationofMajorPrograms
CFDANumbers
10.553/10.555
84.010A
84.287
84.412
84.048
84.126A
96.001
Dollarthresholdusedtodistinguishbetween
typeAandtypeBprograms:
Auditeequalifiedaslowriskauditee?
NameofFederalProgramorCluster
ChildNutritionCluster
TitleIGrantstoLocalEducationalAgencies
21stCenturyCommunityLearningCenters
RacetotheTopEarlyLearningChallenge
CarlD.Perkins
RehabilitationServices
SocialSecurityDisabilityInsurance
$3,000,000
YesNo
Vol. II - 31
STATEOFNEWMEXICO
SectionIIFindingsFinancialStatementAudit
TheStateofNewMexicoPublicEducationDepartmentismadeupoftwodistinctappropriatedentities
and 59 state authorized chartered schools: the Public Education Department and the Division of
VocationalRehabilitation,andthevariousStateauthorizedcharterschools.
PUBLICEDUCATIONDEPARTMENTFINDINGS
2013003ImproveOtherITGeneralControls(OtherMatterandNonCompliance)
Condition:DuringourreviewofITsecuritycontrols,wenotedthefollowing:
HRdepartmentisnottimelyinprovidingterminationformstotheITDepartment,wenotedtwo
instances during the current FY15 audit where employees were terminated, however there
accesstoSHAREwasnotlockedout.
PEDdoesnothaveanoffsitestoragelocationforbackupdata.
PEDhasbeenusinganoutdated/obsoleteversionofSQLServertomaintaintheirdatabase.
DuringourtestworkwenotedtheDepartmenthasimplementedprocedurestoensurepasswordsforall
employeesexpire.Also,theDepartmentisworkingwithHRtoensuretheyarenotifiedimmediatelyof
anyterminatedemployeestoensuretheycanlocktheaccounts.Additionally,perdiscussionwiththe
PEDCIO,theDepartmentiscurrentlyintheprocessofhavinganoffsitebackuptape,howeverdueto
lack of funding and training they were unable to implement this process in FY 15. Furthermore, we
noted during our fieldwork that the Department has built the infrastructure for the upgraded SQL
Server;however,thedatahasnotyetbeenconverted.
Criteria:PerStateofNMStatewideGuidelineEnterpriseITSecurityPolicy,SGUIDE00.003,theState
ofNewMexicoshallsecurelyandeconomicallyprotectitsbusinessfunctionsincludingpublicaccessto
appropriate information and resources, while maintaining compliance with legal requirements
established by existing Federal and State statutes pertaining to confidentiality, privacy, accessibility,
availability,andintegrity.
Effect: The deficiencies identified decrease the overall network security and are considered area that
canbeexploitedbyapotentialhacker.
Cause:ThishasbeenapracticewithintheDepartmentforthepastseveralyears.
Recommendation:Werecommendthefollowing:
HRDepartmentshouldprovideterminationformsinatimelymannertoensurethataccessfor
terminatedemployeesisremovedonatimelybasis.
Computer files should be backed up at least weekly, be properly labeled, and stored off
premisesinafireproofvaulttoensuresafestorageofcomputerinformation.
UpgradetomostrecentversionofSQLServertomaintaindatabase.
Vol. II - 32
STATEOFNEWMEXICO
PUBLICEDUCATIONDEPARTMENTFINDINGS(Continued)
2013003ImproveOtherITGeneralControls(OtherMatterandNonCompliance)(Continued)
ManagementsResponse:Managementagreeswiththisfindingandhasalreadybegunworktoensure
theyareaddressed.
Asnotedintheauditorcomments,thePEDisalreadyworkingwiththehumanresourcesbureau
and the IT division to ensure that during out processing the IT division is notified of the
termination.Theactualprocessisalreadyinplacesinceemployeesarerequiredtoturnintheir
keycards,identificationcardsandotherPEDitems.Theprocessisbeingformalizedsothereisa
signofflineontheoutprocessingsheettoindicatethatITwasinformed.
With regard to not storing backup data in an offsite location, management agrees with this
portion of the finding. The PED is already working with the Department of Information
Technology(DoIT)totakeadvantageoftheTivoliDataStorageManagerandstorebackupdata
atDoIT.Thisshouldoccurinthefirstquarterof2015.
As to PED using an outdated or obsolete version of SQL Server to maintain its data base,
managementagreeswiththisportionofthefinding.ThePEDhasalreadyprocuredandinstalled
the latest version of SQL Server on its new servers. The process is in the setup phase and is
undergoingtesting.ThiswillbecompletedandalldatatransferredbeforeDecember31,2015.
2015001FinancialCloseandReportingReconciliationofFunds(MaterialWeakness)
Condition: During our testwork over the financial close and reporting process it was noted that the
Departmenthasnotimplementedaneffectivefinancialcloseandreportingprocessfortheyearended
June30,2015.Wenotedthefollowingitems:
During our testwork over revenue and expenditures, we noted the following funds were
misstatedandrequiredtheadjustmentsasfollows:
o Fund 89200, STB Capital Outlay, expenditures were materially understated in the
amountof$21,105,274.
o Fund 63400, Public School Capital Improvement, revenues were understated in the
amountof$101,379.
DuringourtestworkrelatedtotheAgencyfund,fund57300,wenotedtheDepartmentfailedto
accrue a material interfund payable to the Special Projects fund 79000 in the amount of
$2,000,000formoneyexpendedrelatedtoemergencysupplementalsupportappropriatedfrom
fund57300throughtheGeneralAppropriationsAct,Lawsof2014.
DuringourtestworkrelatedtotheemergencysupplementalsupportappropriatedfromAgency
fund57300,wenotedtheDepartmentoverreverted$2,280,780fromtheSpecialProjectsfund
79000totheStateGeneralFund.
Vol. II - 33
STATEOFNEWMEXICO
PUBLICEDUCATIONDEPARTMENTFINDINGS(Continued)
2015001FinancialCloseandReportingReconciliationofFunds(MaterialWeakness)(Continued)
Criteria: The Manual of Accounting Practices requires that all state agencies perform monthly
reconciliations and Maintain accounts and information as necessary to show the sources of state
revenuesandthepurposeforwhichexpendituresaremadeandprovideproperaccountingcontrolto
protectstatefinances.Additionally,Section652,NMSA1978statesthatStateagenciesshallcomply
withtheModelAccountingPracticesestablishedbytheFinancialControlDivisionoftheDepartmentof
Finance and Administration and the administrative head of each agency shall ensure that the Model
AccountingPracticesarefollowed.
Effect:ThedeficienciesininternalcontrolsattheDepartmentcancauseanincreasedriskoferrorsand
inaccurateorincompletefinancialreporting.
Cause: The Department posted the vouchers at the time the receivable was accrued. However, the
DepartmentofFinanceandAdministration(DFA)requiredtheDepartmenttoremovethevouchersas
DFA believed the Department did not have adequate budget. The Department then provided DFA
documentationtoshowthattheydidinfacthaveadequatebudget.DFAagreed,however,theydidnot
allowtheDepartmenttoaccruetheexpendituresinFY15andrequiredthemtobepostedinFY16.
Recommendation:WerecommendthattheDepartmentcontinuetodeveloppoliciesandproceduresto
outlinetherequirements,timelinessandresponsibilitiesoverthefinancialcloseandreportingprocess,
includingreconcilingallbalancesand ensureallactivitypertainingtothefiscalyeariscapturedin the
correctfiscalyearforfinancialreportingpurposes.
ManagementsResponse:Managementconcurswiththetechnicalnatureofthisfindingbutnotesthe
causeisduetocircumstancesnotwithinthecontroloftheagency.Asnotedintheauditorscomment
oncause,PEDsaccountingactionswereimplementproperly,thatvoucherswerepostedatthetimethe
receivable was accrued and demonstrated that adequate budget did exist for payment to take place.
ThedecisionnottopaythevoucherswasmadeoutsideofPEDrequiringtheexpenditurestobeposted
inFY16.
With regard to the overreversion of funds, management concurs with this part of the finding. The
fundsthatwererevertedwerethosefundsreauthorizedinLaws2015,Chapter101,Section5(60)that
extended the appropriation for teacher and school leader programs and supports for training,
preparation,recruitmentandretentionthroughFY16.Thesefundswereinadvertentlyrevertedandwill
bereturnedtoPEDwhentheFY15auditiscomplete.TheCFOwiththeDeputySecretary,Financeand
Operationswillannuallyreviewandcertifyallreversionspriortopostingtoensurethereversionsare
trueandaccurateandaccountforanylegislativeaction.
Vol. II - 34
STATEOFNEWMEXICO
DIVISIONOFVOCATIONALREHABILITATIONFINDINGS
2014003ImproveITGeneralControls(SignificantDeficiency)
Condition:DuringourreviewofinternalcontrolsoverIT,wenotedthefollowing:
DVRdoesnothaveanoffsitestoragelocationforbackupdata.
DVRdoesnothavewelldefined,writtendisasterrecoveryprocedures.
The Division is working on implementing an offsite storage location and has hired a contractor to
implementwrittendisasterrecoveryprocedures.However,theseprocesseshavenotbeencompleted
inFY2015.
Criteria: Per the State of New Mexico Statewide Guideline Enterprise IT Security Policy, SGUIDE
00.003, the State of New Mexico shall securely and economically protect its business functions
including public access to appropriate information and resources, while maintaining compliance with
legal requirements established by existing Federal and State statutes pertaining to confidentiality
privacy,accessibility,availability,andintegrity.
Effect:Thedeficienciesidentifieddecreasetheoverallnetworksecurityand areconsideredareasthat
canbeexploitedbyapotentialhacker.
Cause:ThishasbeenapracticewithintheDivisionforthepastseveralyears.
Recommendation:Werecommendthefollowing:
Computer files should be backed up at least weekly, be properly labeled, and stored off
premisesinafireproofvaulttoensuresafestorageofcomputerinformation.
Management should develop a disaster recovery plan that includes, but is not limited to, the
followingmatters:
o Locationof,andaccessto,offsitestorage.
o A listing of all data files that would have to be obtained from the offsite storage
location.
o Identification of a backup location (name and telephone number) with similar or
compatibleequipmentforemergencyprocessing.
o Responsibilitiesofvariouspersonnel.
o Priorityofcriticalapplicationsandreportingrequirementsduringtheemergencyperiod.
Vol. II - 35
STATEOFNEWMEXICO
DIVISIONOFVOCATIONALREHABILITATIONFINDINGS(Continued)
2014003ImproveITGeneralControls(SignificantDeficiency)(Continued)
Managements Response: Management concurs with this finding. DVR has finalized quotes and
submitted the proposed purchase to the Procurement Unit for processing. Currently, DVR conducts
databackupsnightlywithafullarearunFridaynightintoSaturdaymorning.Thishasbeenastandard
practice that DVR has implemented for a number of years. It is anticipated that offsite data backup
storagewillbecompleteJanuary31,2016.
Management concurs with the second part of the finding regarding written disaster recovery
procedures. The IT staff has consulted with an IT security consultant and is currently developing a
disasterrecoveryplan.ItisanticipatedtobecompletedandinplacenolaterthanJanuary31,2016.
2014004InternalControlsOverCashDisbursements(OtherMatter)
Condition:Duringourtestingofinternalcontrolsoverthecashdisbursementprocess,itwasnotedthat
theDivisiondidnothavepoliciesandproceduresinplaceuntiltheendofFY2015toensurethatgoods
orserviceswerereceived/performedpriortopaymentbeingmade.
Criteria:652CNMSA1978statesthatanentityshallimplementinternalcontrolsdesignedtoprevent
accounting errors and violations of state and federal law and rules related to financial matters. In
addition,stateagenciesshallimplementcontrolstopreventthesubmissionofprocessingdocumentsto
thedivisionthatcontainerrorsorthatareforapurposenotauthorizedbylaw.
Effect:Lackofdocumentationrelatedtodisbursementsraisestheriskforimproperuseofpublicmonies
orincreasesriskforerroneouslyprocessedtransactions.
Cause:DivisiondidnotensurethattheDivisionspoliciesandprocedureswerebeingfollowed.
Recommendation: We recommend that the Division evaluate its current procedures related to
disbursements and ensure that disbursements are made subsequent to verification of the
goods/servicesbeingreceived/performed.
Managements Response: Management concurs with this finding but notes that actions resolving the
condition have already been implemented. In May of 2015, DVR instituted a revised process for
receiving and accepting goods and services. The process requires DVR staff who are responsible for
receivingandacceptinggoodsandservicestocertifysuchreceiptandacceptanceviasignatureanddate
on a uniform invoice stamp that has been implemented statewide and which is required by the DVR
Accounts Payable Unit on all invoices. If the staff member preparing payment is not the person who
directly received the goods or services, that staff makes the certification only after receiving the
certificationfromthestaffpersonwhodirectlyreceivedthegoodsorservices.TheAccountsPayable
Unit supervisor and the DVR Chief Financial Officer are responsible for ensuring compliance with the
invoicecertificationpolicy.
Vol. II - 36
STATEOFNEWMEXICO
2015002FinancialCloseandReportingAccountsReceivableReconciliation(MaterialWeakness)
Condition:DuringourtestworkoveraccountsreceivablefortheDVRGeneralFund,SHAREfund50000,
we noted the Division did not have adequate supporting detail for 5 of the 9 draws that constitutes
$888,162ofthe$1,398,862balancereportedasduefromfederalgovernmentpertheBalanceSheet
GovernmentalFundsasofJune30,2015.TheDivisionhadtorecreatethesupportingdetailduringthe
audittoensurethereconciledaccountsreceivablebalancewasmateriallycorrectatJune30,2015.The
Divisionwasunabletoreconcile$38,755ofthebalance.ItdoesnotappearasthoughtheDivisionhas
adequatecontrolsinplaceoverdrawsassupportingdetailisnotmaintainedbytheDivisionandisnot
easilyaccessible.
Criteria: The Manual of Accounting Practices requires that all state agencies perform monthly
reconciliations and Maintain accounts and information as necessary to show the sources of state
revenuesandthepurposeforwhichexpendituresaremadeandprovideproperaccountingcontrolto
protectstatefinances.Additionally,Section652,NMSA1978statesthatStateagenciesshallcomply
withtheModelAccountingPracticesestablishedbytheFinancialControlDivisionoftheDepartmentof
Finance and Administration and the administrative head of each agency shall ensure that the Model
AccountingPracticesarefollowed.
Effect:Withoutadequatesupportingdocumentationthereisanincreasedriskoferrorsorfraudgoing
undetected. Additionally, there is an increased risk the Division could draw down more than was
expended.Furthermore,thereisanincreasedriskofmisstatementonthefinancialstatements.
Cause:TheDivisionimplementedanewprocessfordrawingfederalfundsandreconcilingprojectsinFY
15.TheDivisionfailedtodevelopwellestablishedpoliciesandproceduresrelatedtothenewprocess.
Recommendation: We recommend that the Division continue to develop policies and procedures to
outlinetherequirements,timelinessandresponsibilitiesoverthefinancialcloseandreportingprocess.
The Division should also ensure all supporting documents are maintained and readily available to
supportthebalancesatJune30,2015.
Managements Response: Management concurs with the nature of this finding but disagrees with the
commentthatthedivisiondoesnotappeartohaveadequatecontrolsinplaceoverdrawsassupporting
detail is not maintained by the division. While DVR did have to recreate the supporting detail, the
originaldocumentswereultimatelyproducedfromDivisionfiles.DVRwasabletoreconcilethebalance,
andpresentedreconciledbackupdocumentationpertheauditorsrequestpriortothecloseoftheaudit
that demonstrated that revenue and expenditure amounts under the FFY15 Vocational Rehabilitation
grant and FFY15 Social Security Administration grant reconciled with the cash amount drawn for the
periodendingJune30,2015.ForFY16,DVRwillensuresupportingdetailismaintainedbytheDivision
for all federal grants cash draws, and require two approval signatures on all Grant Draw Worksheets.
The PED will provide technical support to DVR on proper document storage and control as well file
managementtoensureuniformprocessesareinplacetoproperlydocumentalldraws,andperform
Vol. II - 37
STATEOFNEWMEXICO
2015002 Financial Close and Reporting Accounts Receivable Reconciliation (Material

Weakness)(Continued)
regular reconciliations of federal cash account balances. The Chief Financial Officer is responsible for
ensuringthataccountsreceivablebalancesareaccuratelypostedandcollectedtimely.
SectionIIIFindingsandQuestionedCostsMajorFederalAwardProgramsAudit
DIVISIONOFVOCATIONALREHABILITATIONFINDINGS
2014007Eligibility(SignificantDeficiency,NonCompliance)
FederalProgramInformation:
FundingAgency:
U.S.DepartmentofEducation
Title:
RehabilitationServicesVocationalRehabilitationGrantsto
States
CFDANumber:
84.126
Awardyearandnumber:
2015,H126A150045
2014,H126A140045
Condition:Duringourtestingofeligibilitycontrolsandcomplianceitwasnotedthatfor3outofthe40
individualstestedtheeligibilitydeterminationwasnotproperlyapprovedwithintherequired60days.
Per our discussions with Division Management, in FY 16 the Division has implemented procedures to
ensureeligiblydeterminationsaresignedwithintherequired60daytimeframe.
Criteria:29USC722(a)(6),thedesignatedStateunitshalldeterminewhetheranindividualiseligiblefor
vocational rehabilitation services under this subchapter within a reasonable period of time, not to
exceed 60 days, after the individual has submitted an application for the services unless (A)
exceptional and unforeseen circumstances beyond the control of the designated State unit preclude
makinganeligibilitydeterminationwithin60daysandthedesignatedStateunitandtheindividualagree
to a specific extension of time; or (B) the designated State unit is exploring an individuals abilities,
capabilities,andcapacitytoperforminworksituationsunderparagraph(2)(B).
QuestionedCosts:None.
Effect:Thereisanincreasedlikelihoodthatanineligibleindividualcouldreceivebenefitswithoutthem
being detected. Eligible individuals may not receive vocational rehabilitation benefits timely and in
accordancewithprogramrequirements.Additionally,thiscouldhaveafutureimpactonfundingasthe
FederalgovernmentmayreducethefundingfortheNewMexicoRehabilitationServicesprogram,which
mayhaveasignificanteffectontheoperationsoftheprogram.
Vol. II - 38
STATEOFNEWMEXICO
2014007Eligibility(SignificantDeficiency,NonCompliance)(Continued)
Cause:Therewasinconsistentoversightandreviewofeligibilitydeterminationsperformedatthefield
officelocations.
Recommendation: We recommend that the Division implement current controls with additional
oversightfromtheAdministrativeOfficeordesignanddeployrevisedproceduresthatallowforproper
oversight between positions at the field offices. We also recommend that the Division establish
monitoringprocedurestoensurethateligibilitydeterminationsarecompletedtimelyinaccordancewith
programrequirements.
ManagementsResponse: Managementconcurswiththisfinding.Theconditioncausingthisfindingis
relatedtoaseriesofdeparturesinFY13andFY14resultingina35percentvacancyrateatthedivision.
Sincethattime,DVRhasreduceditsvacancyratetoabout14percentandnowhassufficientpersonnel
on staff to address the finding as well as sufficient staff to cross check employee work. DVR will
implementaprofessionaltrainingmoduletoensureallstaffareproperlyinformedofrecordsretention
requirementsalongwithimplementingFieldOperationsDirectorleveloversightofProgramManagers
reviewsoftheworkofVocationalRehabilitationCounselors(VRCs).
Aspartoftheresolutionofthisauditfinding,theRehabilitationServicesDeputyDirectorwilloverseea
completecaseloadfilereviewbyProgramManagersandVRCsbyJanuary29,2016.Ifdeficienciesare
foundduringthisreviewperiod,thedeficiencywillbecorrectedbytheVRCandreviewedandapproved
by the Program Manager of the area. Program Managers also will be required to review all pending
eligibilitydeterminationsthatareapproachingthe60daytimelimitandensurethatthedeadlineismet
oranextensionfiled,andsignedbytheclientasrequired.
2015003LevelofEffort(MaterialWeakness,MaterialNonCompliance)
FundingAgency:
Title:
States
CFDANumber:
84.126
Awardyearandnumber:
2014,H126A140045
Condition: During our testwork we noted the Division had a maintenance of effort (MOE) deficit of
$2,753,324relatedtofederalfiscalyear(FFY)2014whichendedon9/30/2014.
Vol. II - 39
STATEOFNEWMEXICO
2015003LevelofEffort(MaterialWeakness,MaterialNonCompliance)(Continued)
Criteria:Section111(a)(2)(B)oftheRehabilitationActof1973(RehabilitationAct),asamendedbythe
WorkforceInnovationandOpportunityAct(WIAO)(P.L.113128)(29USC731(a)(2)(B))andenactedon
July22,2014,requiresamountpayabletoaStateforafiscalyeartobereducedbytheamountbywhich
expenditures from nonFederal sources under the State Plan for any previous fiscal year are less than
thetotalofsuchexpendituresforthefiscalyeartwoyearspriortothatpreviousfiscalyear.
Effect:TheFFY2015grantawardwasreducedby$2,753,324.
Cause:TheDivisionincorrectlyreported$1,892,801ofnonfederalexpendituresincurredinFFY12on
theFFY2011SF425causinganincreaseoftherequiredMOEforFFY14.Additionally,theDivisionfailed
toallocateenoughnonfederalexpendituresinFFY14.
Recommendation: We recommend that the Division implement controls with additional oversight or
design and implement revised procedures that allow for proper monitoring to ensure that SF425
reportsaccuratelyreflectnonfederalexpendituresallocatedtotheawardforthecorrectawardperiod.
Additionally, the Division should implement controls to ensure expenditures from nonfederal sources
aremorethantotalexpendituresforthefiscalyeartwoyearspriortothatpreviousfiscalyear.
Managements Response: Management concurs with this finding but notes a timing issue. The
maintenance of effort (MOE) penalty levied against DVR was for the Federal Fiscal Year 2014 (FFY14)
Vocational Rehabilitation federal grant award. Although the penalty was against FFY14 award, the
actualreductiontookplaceinFY15.ThisresultedinafindingforbothFY14andFY15againstthesame
action. The MOE issue was the result of DVR not booking its general fund match in the correct time
frameresultingintheMOEshortfall.ForFY15,DVRhasrestructureditfinancialsystemstoalignwith
SHAREandisnowabletotrackandapplythematchinthecorrecttimeframe.ForFY16,DVRwillbe
able to take advantage of it full federal grant with no MOE issues to address. The Administrative
Services Unit Deputy Director is responsible for ensuring that reporting is correct and that DVR
maintainsitsGeneralFundmatchexpenditurelevels,whicharebaseduponannualappropriationsfrom
theLegislature.
Vol. II - 40
STATEOFNEWMEXICO
2015004SpecialTestsandProvisions(SignificantDeficiency,NonCompliance)
FundingAgency:
Title:
States
84.126
CFDANumber:
Awardyearandnumber:
2015,H126A150045
2014,H126A140045
Condition: During our testing of Individual Plan for Employment (IPE) controls and compliance it was
notedthatfor4outofthe40individualstested,theIPEwasnotdonewithinin90daysafterthedateof
thedeterminationofeligibilitybytheDivision.Furthermore,wenotedanextensionwasnotcompleted
fortheseindividuals.
Criteria:WhenanIPEisrequiredfortheprovisionofVRservicesunderSection103(a)oftheAct,itmust
bedoneassoonaspossible,butnotlaterthan90daysafterthedateofthedeterminationofeligibility
bytheStateVRagency,unlesstheStateVRagencyandtheeligibleindividualagreetoanextensionof
thatdeadlinetoaspecificdatebywhichtheIPEmustbecompleted(Section102(b)(3)(F)oftheAct(29
USC722(b)(3)(F))).
Effect: Eligible individuals may not receive vocational rehabilitation benefits timely and in accordance
with program requirements. Additionally, this could have a future impact on funding as the Federal
government may reduce the funding for the New Mexico Rehabilitation Services program, which may
haveasignificanteffectontheoperationsoftheprogram.
Cause:TherewasinconsistentoversightandreviewofIPEsperformedatthefieldofficelocations.
Recommendation: We recommend that the Division implement current controls with additional
oversightfromtheAdministrativeOfficeordesignanddeployrevisedproceduresthatallowforproper
oversight between positions at the field offices. We also recommend that the Division establish
monitoring procedures to ensure that IPEs are completed timely in accordance with program
requirements.
ManagementsResponse: Managementconcurswiththisfinding.Theconditioncausingthisfindingis
relatedtoaseriesofdeparturesinFY13andFY14resultingina35percentvacancyrateatthedivision.
Sincethattime,DVRhasreduceditsvacancyratetoabout14percentandnowhassufficientpersonnel
on staff to address the finding as well as sufficient staff to cross check employee work. DVR will
Vol. II - 41
STATEOFNEWMEXICO
2015004SpecialTestsandProvisions(SignificantDeficiency,NonCompliance)(Continued)
implementaprofessionaltrainingmoduletoensureallstaffareproperlyinformedofrecordsretention
requirements.TheRehabilitationServicesDeputyDirectorwilloverseeacompletecaseloadfilereview
byProgramManagersandVRCsbyJanuary29,2016.Ifdeficienciesarefoundduringthisreviewperiod,
thedeficiencywillbecorrectedbytheVRCandreviewedandapprovedbytheProgramManagerofthe
area.ProgramManagersalsowillberequiredtoreviewallpendingIPEsthatareapproachingthe90
day time limit and ensure that the deadline is met or an extension filed, and signed by the client as
required.
SectionIVOtherFindings,asRequiredbyNewMexicoStateStatute,Section1265,NMSA1978
PUBLICEDUCATIONDEPARTMENTFINDINGS
2013005UntimelyReversions(NonCompliance)
Condition: During our testing of reversions we noted the Department failed to revert $197,740 timely
acrossfourfundsrelatedtofiscalyear2015.Wenotedthesebalanceswereunspentrefundsreceived
fromdifferentSchoolsandtheDepartmentfailedtoincludethesebalancesinthetotalFY15reversion.
During our testwork, we noted the Department did revert the unexpended balances appropriated
directlytotheDepartmentforfiscalyear2015.
Criteria:Section6510(A)NMSA1978requiresallunreserved,undesignatedfundbalancesinreverting
funds as of June 30 to be reverted to the New Mexico State General Fund by September 30 and
subsequentlyadjustedwithin45daysofthecompletionoftheannualaudit.
Effect:TheDepartmentisnotincompliancewithSection6510(A)NMSA1978.
Cause: Management did not include the money returned from the Schools when calculating the
reversion.
Recommendation: We recommend the Department establish procedures, controls, and monitoring to

ensuretimelycalculationandsubmissionofreversionstotheNewMexicoStateGeneralFund.
Managements Response: Management agrees with this finding. During their annual audits, school
districtsidentifiedfundsthatneededtobereturnedtoPED.Thesefundswereaccountedforproperly
but were not included in the year end reversion. The Audit and Accounting Bureau will research all
itemsdepositedintoaccount234900(DuetoStateGeneralFund)quarterly.Thebureauwillreclassify
nonrevertingamountstotheproperaccountsandwilltransferrevertingamountstothestategeneral
fund.TheCFOwillreviewthestatusoftheseactivitiesquarterlytoensureaccuracyandtimeliness.
Vol. II - 42
STATEOFNEWMEXICO
DiscretelyPresentedComponentUnitFindings
ACADEMYOFTRADESANDTECHNOLOGYFOUNDATION
2012002InternalControlStructure(MaterialWeakness)
Condition:Duringourfieldworkwenoted:
ThereceivableassociatedwiththeleasepurchaseagreementwiththeSchoolwasnotproperly
recorded by the Foundation. Payments associated with the mortgage payable are not being
properly recorded by the Foundation on its general ledger. The Foundation continued to hold
capitalassetsontheirbooks.
Thereisnodocumentationthatthebankreconciliationswerebeingreviewed.
The Foundation does nothave adequate segregation of duties over the processing of invoices
andcashreceipts.TheFoundationsPresidentprocessesallaccountingtransactionswithoutany
revieworapprovalofanyotherindividuals.
ThereisagenerallackofaccountingrecordsattheFoundation.
Criteria: Per sound accounting standards an entity shall establish and maintain an internal control
structuretoprovidemanagementwithreasonableassurancethatassetsaresafeguardedagainstloss
fromunauthorizeduseordisposition,thattransactionsareexecutedinaccordancewithmanagements
authorizationandrecordedproperlytopermitthepreparationofgeneralpurposefinancialstatements
in accordance with GAAP. The internal control structure shall include written administrative controls
(rules, procedures and practices, and policies that affect the organization) and accounting controls
(activitycycles,financialstatementcaptions,accountingapplicationsincludingcomputersystems)that
are in accordance with GAAP. Additionally, good internal controls require that an organizational
structurebeinplacewhichseparatesincompatibleactivitiestoprecludecontrolbyanyindividual.Bank
reconciliationsshouldbereviewedandapprovedbysomeoneotherthanthepreparer.
Effect:Theinternalfinancialstatementswerenotproperlystated.Thepotentialformisappropriationof
fundsispresentwhenonepersonisresponsibleforallphasesofanaccountingprocess.
Cause:Thefoundationdoesnothaveanystafflimitingtheprocesses/transactionsthatareperformed
bytheTreasurer.
Recommendation:WerecommendtheFoundationdevelopandimplementinternalcontrolstoproperly
record all transactions that occur during the year. We recommend that the Foundation fill the empty
placesontheBoardsothataccountingdutiescouldbeseparated.
ManagementsResponse:Managementwillestablishandmaintainaninternalcontrolstructurethatwill
provide management with reasonable assurance that assets are safeguarded against loss from
unauthorizeduseordisposition.
Vol. II - 43
STATEOFNEWMEXICO
ACADEMYOFTRADESANDTECHNOLOGYFOUNDATION(CONTINUED)
2012002InternalControlStructure(MaterialWeakness)(Continued)
Management anticipates this finding will being cleared in FY2016 as the foundation was closed and a
new foundation was established in its place. Specifically, effective September 23, 2015 ATT2551, Inc.
(former foundation) was dissolved, and transferred 2551 Karsten (property location) to Friends of
ATTCHS,Inc.(newfoundation).
2013001CompositionofBoard(Compliance)
Condition:TheFoundationdoesnothavetherequiredmembersontheirBoard.
Criteria:PertheFoundationbylaws,theBoardshallconsistofnolessthanthreemembers.
Effect:TheFoundationdoesnothaveproperoversight,whichcouldresultinerrorsgoingundetected.
Cause:Managementmadeseveralattemptstosolicittherequiredmembers.
Recommendation: We recommend that the Foundation ensure that the Board has the necessary
members.
Managements Response: Management will assure that the foundation board consist of no less than
threeboardmembers,theboardwillalsoincludenonvotingmembersfromtheGoverningCouncil,and
theschool.ManagementwillcompletethisbyDecember31st.
ACADEMYOFTRADESANDTECHNOLOGY
2015001PurchaseOrders(SignificantDeficiency)
Condition:Duringourtestingofsixtycashdisbursementswenotedthefollowing:
Therewasoneinstance($798.77)inwhichthePurchaseOrderwasnotattached.
Apurchaseorderintheamountof$817.00didnothavethePrincipalssignatureonit.
Criteria:Section NMAC6.20.2.17(A),requiresthateachschoolshall establish and implement written

policies and procedures for purchasing which shall be in compliancewiththeProcurementCode,
Section 13121 et seq., NMSA 1978. An internal control structure over purchasing shall be
established and maintained to assure compliance with school policy, and state and federal
regulations. Also,the NewMexicoManualofProceduresforPublicSchool AccountingandBudgeting,
Supplement13Purchasing,statesthatthepreparationandexecutionofadulyauthorizedpurchase
ordermustprecedetheplacementofanyorderforgoods,servicesorconstruction.
Vol. II - 44
STATEOFNEWMEXICO
ACADEMYOFTRADESANDTECHNOLOGY(CONTINUED)
2015001PurchaseOrders(SignificantDeficiency)
Effect:NotbeingincompliancewithstatepurchasingrequirementsplacestheSchoolatriskforfraudor
misuseofpublicfunds.
Cause:SchoolpersonneldidnotfollowestablishedprocurementpoliciesoftheSchool.
Recommendation: All School personnel should be reminded that initiation of a purchase order is not
sufficientforordering;thatanapprovedPurchaseOrderisrequiredperSchoolandStateguidelines.
Managements Response: Management will assure that all purchase requisitions have an approved
purchaseorderbeforeplacementofordersforgoods,services,orconstructioncost.
Managementwillhold,semiannually,policyandprocedurestrainingforallstaff.Trainingswillfocuson
the policy and procedures of requesting a purchase order, as required per School and State Policies.
TrainingwillbecompletedbyDecember31st.
ACELEADERSHIPHIGHSCHOOL
2015001FundBalanceJournalEntries(OtherMatter)
Condition: During our fieldwork we noted an entry for $5,401 to fund balance for fund 21000 and
another entry of $50,000 to fund balance for fund 29114. These entries were reversed as part of the
audittomakefundbalancerollforwardfromtheprioryearfinancialstatements.
Criteria: Per NMAC 6.20.2.11 (A) Internal Control Structure Standards, "every school district shall
establish and maintain an internal control structure to provide management with reasonable
assurance that assets are safeguarded against loss from unauthorized use or disposition, that
transactions are executed in accordance withmanagement'sauthorizationandrecordedproperlyto
permit the preparation of general purpose financial statements in accordance with GAAP. The
internal control structure shall include written administrative controls (rules, procedures and
practices, and policies that affect the organization) and accounting controls (activity cycles, financial
statement captions, accounting applications including computer systems)thatareinaccordancewith
GAAP."
Effect: The amounts reported to PED could be inaccurate and actual available funds may be
improperlyrecorded,whichcouldleadtofundsbeingoverspentandbalances misstatedinthefinancial
statements.
Cause:Management'sreviewofpostingentriesdidnotdetectorpreventtheposting errors.
Recommendation: We recommend the School review fund balances to ensure funds have proper
endingbalancesandeachfundisproperlyreconciled.
Vol. II - 45
STATEOFNEWMEXICO
ACELEADERSHIPHIGHSCHOOL(CONTINUED)
2015001FundBalanceJournalEntries(OtherMatter)(Continued)
Managements Response: Management reviewed the entries and consulted with the Finance
Committee.Afterthereview,itwasdeterminedtheentriesshouldbereversedandcorrectingentries
shouldbeposted,buttheentriesdidnotoccurpriortothestartoftheauditfieldwork.ByDecember
31, 2015, the Business Manager and Finance Committee will develop internal controls to prevent this
fromhappeninginthefuture.
2015002CashReconciliations(MaterialWeakness)
Condition:Thefollowingitemswerenotedduringourtestingofcash:
AtJune30,2015thegeneralledgerreportsacashbalanceof$677,712.81.
AtJune30,2015thebankreconciliationreportsacashbalanceof$661,345.50.
AtJune30,2015thePEDCashReportshowsabalanceof$658,529.99.
Schoolpersonnelwereunabletoreconcilethevariancesnotedabove.
Criteria: According to 6.20.2.11 (B) (6), NMAC, School districts shall conduct independent checks on
performance and proper valuation of recorded amounts, such as clerical checks, reconciliations,
comparisons of assets with recorded accountability, computerprogrammed controls, management
review of reports that summarize the detail of account balances, and user review of computer
generatedreports.TheNewMexicoManualforProceduresforPublicSchoolAccountingandBudgeting
Supplement 7 Cash Controls also requires that the reports sent to the New Mexico Public Education
Department(PED)mustagreetoschooldistrictrecords.
Effect:ThePEDdoesnothaveanaccurateaccountingoftheSchool'sactivity.
Cause:Schoolpersonnelknowtherearevariances,buthavenotbeenabletoidentifyandcorrectall
thevariances.Thepostingofjournalentriestofundbalance(seeFinding2015001above)mayalsobe
acontributingfactor.
Recommendation:We recommend that policies and procedures be implementedtoensurethatbank

accounts are properly reconciled on a monthly basis and that the quarterly PED cash reports
reconciletothegeneralledger.
ManagementsResponse:Managementagreesandhassinceidentifiedandresolvedthevariancesinthe
cashreconciliation.Theschoolhassufficientpoliciesandproceduresinplacetoensurebankaccounts
arebeingreconciledonamonthlybasis.TheBusinessManagerwillpostthenecessaryjournalentries
andensurethatallbankaccountsandPEDcashreportswillreconciletothegeneralledgerbyDecember
31,2015.
Vol. II - 46
STATEOFNEWMEXICO
2015003PurchaseOrdersSubsequenttoInvoice(SignificantDeficiency)
Condition: During our testing of sixty cash disbursements we noted there was one instance
($1,356.23)inwhichthePurchaseOrderwaspreparedsubsequenttothevendorsinvoicedate.
Criteria: Section NMAC 6.20.2.17 (A), requires that each school shall establish and implement
written policies and procedures for purchasing which shall be in compliance with the
Procurement Code, Section 13121 et seq., NMSA 1978. An internal control structure over
purchasing shall be established and maintained to assurecompliancewithschoolpolicy,andstate
andfederalregulations.Also,theNewMexicoManualofProceduresforPublicSchoolAccountingand
Budgeting,Supplement13Purchasing,statesthatthepreparationandexecutionofadulyauthorized
purchaseordermustprecedetheplacementofanyorderforgoods,servicesorconstruction.
Managements Response: Management has sufficient existing school policies and internal controls in
placetoensurecompliancewiththeprocurementcode.Thisisoneremoteinstance.Schoolpersonnel
willberemindedbytheBusinessManagerofthesepoliciesbyemailandverballybynextstaffmeeting
onDecember2,2015.
2015004BudgetaryCondition(Compliance)
Condition: ACE Leadership High School expended in excess of budget in the following fund and
function:
Fund31700SB9CapitalImprovements
$16,330
CapitalOutlay
Criteria: Sound financial management and 6.20.2.9 (A) NMAC and 2285 through 22 812.2 NMSA
1978 require that budgets not be exceeded at the legal level of control. For school districts the
functionisthelegallevelofcontrol.
Effect: The school is out of compliance with State Law and the control established by the use of
budgetshasbeencompromised.
Vol. II - 47
STATEOFNEWMEXICO
2015004BudgetaryCondition(Compliance)(Continued)
Cause: A budget adjustment request was never submitted to account for the additional
expendituresincurred.
Recommendation:TheSchoolshould establishapolicyofbudgetaryreview atyearendandmakethe

necessarybudgetaryadjustments.
Managements Response: The school has procedures in place to review the budget at year end to
makesureallBARsaresubmittedinatimelymanner.TheBusinessManagerwillberesponsiblefor
the review of the budgets. The final budget adjustment request will be completed prior to PED
requireddeadline.
ALBUQUERQUEINSTITUTEFORMATHEMATICS&SCIENCE
2015001ExpendituresExceedBudget(OtherMatter)
Condition: The Charter has expenditure functions where actual expenditures exceeded budgetary
authority:
Excess of Expenditures
Fund
overAppropriations
HB33CapitalImprovements(31600)

SupportServicesGeneralAdministration
$(18)
Criteria:Accordingto6.20.2.9NMAC,budgetarycontrolshallbeatthefunctionlevel.Overexpenditure
ofafunctionshallnotbeallowed.
Effect:TheCharterisnoncompliantwithStateLaw.
Cause:Abudgetadjustmentrequestwasnotsubmittedtoaccountforadditionalexpendituresincurred
forHB33CapitalImprovements.
Recommendation: We recommend that the Albuquerque Institute for Mathematics & Science should
establishapolicyofbudgetaryreviewatyearendtomakethenecessarybudgetaryadjustments.
Managements Response: The school does review the budget monthly; however, since the property
taxes received were higher than estimated, the county tax collection fee was higher as well. In the
future,theschoolwillprojectataslightlyhigherratetopreventfutureoccurrence.
Vol. II - 48
STATEOFNEWMEXICO
ALBUQUERQUESCHOOLOFEXCELLENCE
2015001 Internal Control Structure (Significant Deficiency, Noncompliance in Accordance with the
NewMexicoStateAuditRule)
Condition:Duringourinternalcontroltestworkoverasampleof25cashdisbursementswefoundthree
instanceswhereapurchaseorderwasnotcreatedforanexpenditure.
Criteria:NMAC6.20.2.11(A)InternalControlStructureStandards,everyschooldistrictshallestablish
and maintain an internal control structure to provide management with reasonable assurance that
assets are safeguarded against loss from unauthorized use or disposition, that transactions are
executed in accordance with managements authorization and recorded properly to permit the
preparation of general purpose financial statements in accordance with GAAP. The internal control
structureshallincludewrittenadministrativecontrols(rules,proceduresandpractices,andpolicesthat
affecttheorganization)andaccountingcontrols(activitycycles,financialstatementcaptions,accounting
applicationsincludingcomputersystems)thatareinaccordancewithGAAP.
Effect: Reimbursements could be made without proper approval and expenditures could be reported
inaccurately or misclassified in the improper fund. This could result in funds being overspent and
balancesmisstated.
Cause:TheSchooldidnotfollowtheirpoliciesandprocedures.
Recommendation: Ensure a purchase order is prepared and approved for all applicable expenditures.
Oncecompleted,allpurchaseordersshouldbemaintained.
ManagementsResponse: TheAlbuquerqueSchoolofExcellencehasworkedhardtodevelopfinancial
policies and procedures that are both compliant and safe guard the school from financial
mismanagement.Managementwillworkwiththeschooladministrationandallstafftoemphasizethe
proceduresestablishedandensurethatallpurchaseshaveanapprovedpurchaseorderbeforegoodsor
servicesarenotonlyreceivedbutordered.Thebusinessmanagerandprocurementofficerwillensure
correctpolicesareimplementedandexpecttohavetheminplacebyJanuary2016.
2015002 Budget Adjustment Requests (Noncompliance in Accordance with the New Mexico State
AuditRule)
Condition:Oneofthreebudgetadjustmentrequests(BARs)reviewedwasnotincludedintheGoverning
CouncilmeetingminutesashavingbeendiscussedandapprovedpriortoobtainingPEDapproval.
Criteria:AsstatedintheSchoolspoliciesandprocedures,theadministration,inconsultationwiththe
businessmanager,shallregularlyreporttotheGoverningCouncilregardingtheextenttowhichactual
revenues and actual expenditures in the major line items (i.e. those items designated by the Public
EducationDepartmentasrequiringBudgetAdjustmentRequestsforanychanges)varyfrombudgeted
amountsreflectedinthefinalapprovedbudget.Theadministrationshallpresentanyrecommended
Vol. II - 49
STATEOFNEWMEXICO
ALBUQUERQUESCHOOLOFEXCELLENCE(CONTINUED)
2015002 Budget Adjustment Requests (Noncompliance in Accordance with the New Mexico State
AuditRule)(Continued)
budget adjustment requests to the Governing Council prior to submission to the Public Education
Department.Nochangestothemajorbudgetlineitemsinthefinalapprovedbudgetshallbemodified
withouttheapprovaloftheGoverningCouncil.
Effect: When BARs are not first discussed with the Governing Council, this prevents the Governing
Councilfromhavingaccurateinformationregardingthebudgetinordertomakedecisions.TheSchoolis
notincompliancewiththeirpoliciesandprocedures.
Cause: The School did not follow internal policies and procedures. Alternatively, Governing Council
minuteswerenotcompletetoincludedetailsofallitemsdiscussedandapproved.
Recommendation:EnsuretheGoverningCouncilapprovesallBARs.Inaddition,werecommendthatthe
minutesincludenecessarydetailedinformationpertainingtoallitemsdiscussed.
Managements Response: The School will review examples of other school districts approved board
minutesinanefforttoensurethatTheAlbuquerqueSchoolofExcellencesGoverningCouncilminutes
provide more than adequate information for all stake holders. The business manager and governing
councilwillensureinternalcontrolsareimplementedbyJanuary2016.
2015003 Cash Receipts (Significant Deficiency, Noncompliance in Accordance with the New Mexico
StateAuditRule)
Condition: During our internal control testwork over a sample of ten cash receipts we noted three
receipts totaling $3,557 where supporting documentation for bank deposits could not be located. We
wereunabletodetermineifthesereceiptswereaccuratelyrecorded,reconciled,anddepositedwithin
24 hours. Additionally, we noted four receipts totaling $1,069 that were not deposited in the bank
within24hours.
Criteria: Per NMAC 6.20.2.14 A. school districts shall establish and maintain a cash management
program to safeguard cash and provide prompt and accurate reporting that adheres to cash
management requirements of the office of management and budget (OMB) Circular A102, and
applicable state and federal laws and regulations, and C. Money received and receipted shall be
depositedinthebankwithin24hoursoronebankingday.
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.14.
Cause:TheSchoolwasunabletolocatedocumentationforcashreceiptsfromApriltoJuneof2015and
internalcontrolswerenotinplacetoensurereceiptsweredepositedwithin24hours.
Vol. II - 50
STATEOFNEWMEXICO
2015003 Cash Receipts (Significant Deficiency, Noncompliance in Accordance with the New Mexico
StateAuditRule)(Continued)
Recommendation: Ensure source documentation related to all cash receipts is maintained and ensure
thatreceiptsaredepositedinthebankwithin24hours.
Managements Response: The Albuquerque School of Excellence has worked hard to establish and
maintain a set of internal controls and policies and procedures. The School identified inconsistencies
withpersonnelfollowingthedefinedpoliciesandprocedures,andhasmadeapplicablechangestothe
personnelforthe20152016schoolyear.TheSchoolhasreviewedthepoliciesandprocedureswiththe
incoming staff and is confident that the areas of policy application and records maintenance will be
greatly improved. The business manager and principal will ensure the policies are implemented by
August2015.
2015004BudgetaryConditions(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: The School did not properly budget prior year cash carryover in the SB9 Capital
ImprovementsFund31700.Prioryearcashcarryoverwas$89,073whichwasinsufficienttocoverthe
budgeteddeficitof$93,734.
Criteria:PerNMAC6.20.2.9(A)everyschooldistrictshallfollowbudgetrequirementsstatedinSections
2285 through 22812.2, NMSA 1978, and procedures of the department in preparing, submitting,
maintainingandreportingbudgetaryinformation.
Effect:TheSchoolisoutofcompliancewithNewMexicostatestatuteandthecontrolsestablishedby
theuseofbudgetshasbeencompromised,whichwouldresultindeficitfundbalancesandunnecessary
usageoffundstocoverthebudgetedoverexpenditures.
Cause: The budget adjustment request did not consider prior year carryover amounts for the SB9
CapitalImprovementsfundandabudgetadjustmentrequestwasnotpreparedandsubmittedtoPED.
Recommendation: We recommend that the School establish a policy where the budget is reviewed at
theendofeachquarterandgiveconsiderationtodeficitsandensurethatdesignatedcashisavailableto
coversuchoverages.
ManagementsResponse:Fiscalyear(FY)2014markedthefirstyearthattheSchoolreceivedSenateBill
9 Ad Valorem revenues. FY2015 was the first year the School had a cash carryover in capital funds.
Processesduringthecourseofanormalyearholdthatprojectedcashcarryoveramountsaretruedup
withthereceiptofdraftfinancials.Beingthatdraftfinancialswerentprovideduntiltheendofthefiscal
yearduetotheinitialexternalauditorbackingoutoftheFY14audit,theSchooluseditsowninternal
financial statements to true up the cash carryover amount for the Operational fund. The SB9 Fund
Vol. II - 51
STATEOFNEWMEXICO
31700wasnotincludedinthisabnormalprocess.Managementwilldoafinalreviewofallfundspriorto
the end of each fiscal year regardless of the status of the audit to ensure that all funds have correct
budget authority. It should be noted that even though the School had budget authority to possibly
expendmorethanwhatwasavailableincash,theSchoolisrequiredtogetpermissiontoobligatefunds
to the PED before even issuing a purchase order for this fund. Not only are there additional steps
designed to prohibit over spending funds, it should be noted that the School did not have any
expenditures what so ever from this fund in FY15. The business manager will implement the proper
controlsandexpecttohavetheseimplementedbyNovember2015.
ALBUQUERQUESIGNLANGUAGEACADEMY
2014001TravelandPerDiem(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Duringfiscalyear2015,theSchoolusedtheInternalRevenueService(IRS)standardratefor
mileage reimbursements. We reviewed three mileage reimbursements for travel in a privately owned
vehicleandallthreereimbursementswerepaidattheIRSstandardrate.
Criteria: NMAC 2.42.2.11(b)(1) states that public officers and employees of state agencies shall be
reimbursedformileageaccruedintheuseofaprivateautomobileat80%oftheIRSstandardmileage
ratesetJanuary1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.
Effect:TheSchoolisnotincompliancewiththePerDiemandMileageActandisoverpayingemployees
fortravelonbehalfoftheSchool.
Cause:TheSchooldidnothaveinternalcontrolsinplacetoensuremileagereimbursementswerepaid
inaccordancewiththeNewMexicoPerDiemandMileageAct.
Auditors Recommendation: The School should follow the Per Diem and Mileage Act for local
governmentswhenpayingformileagereimbursements.
ManagementsResponse:TheSchoolhaschangeditsmileagereimbursementpolicyinaccordancewith
theprioryearaudit.TheSchoolhasbeenincompliancewiththePerDiemandMileageActupon the
Boardapprovedpolicyupdate.
Vol. II - 52
STATEOFNEWMEXICO
ALBUQUERQUESIGNLANGUAGEACADEMY(CONTINUED)
2014002StaffQualificationsandPayroll(NoncomplianceinAccordancewiththeNewMexicoState
AuditRule)
Condition:Duringinternalcontroltestworkoverasampleof25payrolltransactionswenotedateacher
thatdidnot havealicensefromthePublic EducationDepartment(PED).Weattempted tolocatethis
individuals license on the PED website and were unsuccessful. We also noted three individuals
employed as Language Facilitators whose responsibilities, as per the employment contract include,
assuming the responsibility for assisting with the daily planning and implementation of the Schools
educationalprograms.Thesethreeindividualsdidnothaveaneducationalassistantslicense.
We also noted three employees for which Retiree Health Care (RHC) withholdings and contributions
shouldhavebeenmadebutwerenot.
Criteria: NMAC 6.61.2 through 6.61.12 (Chapter 61) outlines the various licensure requirements for
personsseekinganinstructorslicense.NMAC6.63.9establishesthreelevelsoflicensureforeducational
assistants and governs the licensure requirements for persons seeking level 1, level 2, and level 3
educationalassistantlicensure.
AllemployeeswhoareentitledtoERBpensionbenefitsmustcontributetoRHC.
Effect: The School is not in compliance with applicable requirements of Chapter 61 for the instructor
notedaboveandisnotincompliancewithNMAC6.63.9fortheeducationalassistantsnotedabove.The
SchoolisnotincompliancewithRHCrequirements.
Cause: The School did not have internal controls in place to ensure all required documentation was
obtained prior to hiring the instructor and educational assistants noted above and a process is not in
place that would provide periodic reviews of employee personnel files to ensure they are complete.
Controls are not in place to ensure all required employees and the School are contributing to RHC,
whererequired.
AuditorsRecommendation:Developandimplementinternalcontrolprocedurestoensureallrequired
documentsareobtainedpriortohiringandthatwillensureRHCisproperlywithheldandcontributed
eachmonth.
Managements Response: The Schools business office will not allow new employees to begin their
employment until appropriate licensure, background information and other required documents are
verified and in place. Also, the Schools business office will perform a monthly RHC reconciliation to
confirmthatallrequiredemployeesarecontributing.
Vol. II - 53
STATEOFNEWMEXICO
ALMADARTECHARTERHIGHSCHOOL
2014001TimelyDeposits(NonComplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Duringourcashreceiptstestingwenotedthatdepositswerenotbeingmadewithintwenty
four(24)hoursafterbeingreceived.Ofoursampleof12,onereceipttotaling$1,600wasnotdeposited
within 24 hours. There were an additional 4 receipts totaling $3,996.24 that were missing
documentation and it could not be determined if they were deposited timely. No progress has been
madeinthecurrentyear.
Criteria: Per NMAC 6.20.2.14.C states that money received and receipted shall be deposited in the
bankwithintwentyfour(24)hoursoronebankingday.
Effect: The School is not in compliance with State statute and has exposed itself to possible
misappropriationoffunds.
Cause:Thereisalackofgoodcontrolsovercashandcheckreceipts.
Recommendation:WerecommendthattheSchoolsetpoliciesandproceduresinplacetoensurethat
allcashreceiptsaredepositedwithin24hours.
Managements Response: The Business Manager will ensure deposits are made within 24 hours and
thatallsupportingdocumentationisattached.Thiswillbeimplementedimmediately.
2015001BudgetAdjustmentRequests(BAR)(Compliance)
Condition:WenotedtheSchoolbudgetedmorecashcarryoverof$69,058thantheSchoolhadavailable
fortheOperationalFund.
Criteria:InaccordancewithPublicEducationDepartment(PED)requirementsand666NMSA1978,the
School is required to follow PED procedures relating to Budget Adjustment Requests. This includes
ensuring that BARs are included in final budget amounts reported to Schools PED report. Per NMAC
6.20.2.10.B, School districts shall submit budget adjustment requests for the operating budget to the
department for budget increases, budget decreases, transfers between functional categories, and
transfers from the emergency reserve account. Expenditures shall not be made by the school district
until budget authority has been established and approval received from the department. Budget
adjustments shall not be incorporated into the school districts accounting system until approval is
receivedbythedepartment.
Effect:TheschoolisnotincompliancewithStateStatutes.
Cause:Thebudgetwasnotbeingproperlymonitored.
Vol. II - 54
STATEOFNEWMEXICO
ALMADARTECHARTERHIGHSCHOOL(CONTINUED)
2015001BudgetAdjustmentRequests(BAR)(Compliance)(Continued)
Recommendation: The School must be familiar with Public Education Department (PED) requirements
and666NMSA1978andfollowtherequirementsforthebudgetarysystem.
ManagementsResponse:TheBusinessManagerwillensurethattheproperbudgetadjustmentismade
tomatchtheauditedcashbalance.Thiswillbeimplementedimmediately.
2015002MileageReimbursements(Compliance)
Condition:FortheyearendedJune30,2015,auditornotedthattheSchoolreimbursedemployeesfor
mileage at a rate of fiftyfive cents per mile. Of the 5 travel items tested that included mileage
reimbursements,100%reimbursedaratehigherthanthecurrentstatutoryrate.Ofthese5items,the
totalexcessreimbursedwas$193.94.
Criteria: NMAC 2.42.2.11 (B) (1) states public officers and employees of state agencies shall be
reimbursedformileageaccruedintheuseofaprivateautomobileoraircraftintheofficialdischargeof
official duties as follows: unless the secretary has reduced the rates set for mileage for any class of
public officials and for employees of state agencies pursuant to Section 1085 (D) NMSA, 80% of the
internalrevenueservicestandardmileageratesetJanuary1ofthepreviousyearforeachmiletraveled
inaprivatelyownedvehicle.
Effect: The School is not in compliance with New Mexico State Statutes in regards to mileage
reimbursement.
Cause:TheSchoolcontendsthatitisaLocalPublicBodyandnotaStateAgency.AsaLocalPublicBody,
theschoolcontendsthatitmayreimbursemileageatthefullamountauthorizedbytheIRS.TheNew
MexicoPublicEducationDepartment(PED)hasindicatedtotheauditorsthatcharterschoolschartered
underPEDareacomponentunitofPEDandshouldreimbursemileageattherateapprovedforaState
Agency.
Recommendation: The School should reimburse mileage at 80% of the internal revenue service
standard mileage rate set January 1 of the previous year for each mile traveled in a privately owned
vehicle.
ManagementsResponse:TheBusinessManagerwillusethe80%oftheIRSrateinsteadoftheBoard
approvedrate.Thiswillbeimplementedimmediately.
2015003PerDiemRateReimbursements(Compliance)
Condition:FortheyearendedJune30,2015,auditornotedthattheSchoolreimbursedemployeesin
excessoftheallowablerateforperdiemonceofseventeenitemstested.Additionally,theSchoolcould
notprovidedocumentationforthreeofseventeentraveldisbursementstested,for$1,939.90
Vol. II - 55
STATEOFNEWMEXICO
ALMADARTECHARTERHIGHSCHOOL(CONTINUED)
2015003PerDiemRateReimbursements(Compliance)(Continued)
Criteria: NMAC 2.42.2.8 (B) (1) states public officers and employees who occasionally travel shall be
reimbursedfortravelthatdoesnotrequireovernightlodgingbutextendsbeyondanormalworkdayas
follows:
(a)forlessthan2hoursoftravelbeyondnormalworkday,none;
(b)for2hours,butlessthan6hoursbeyondthenormalworkday,$12.00;
(c)forsixhours,butlessthan12hoursbeyondthenormalworkday,$20.00;
(d)for12hoursormorebeyondthenormalworkday,$30.00;
NMAC2.42.2.9(B)(3)statesactualexpensesformealsarelimitedbySection1084(K)(2)NMSA1978
(1995Repl.Pamp.)toamaximumof$30.00forinstatetraveland$45.00foroutofstatetravelfora
24hourperiod.
Effect: The School does not comply with New Mexico State Statutes in regards to per diem
reimbursement.
Cause:TheSchoolauthorizedpaymentofperdiemreimbursementsinexcessofauthorizedperdiem
rates.
Recommendation:TheSchoolshouldreviewstatutoryamountsallowedforreimbursements,carefully
scrutinizeallrequestforreimbursements,anddisallowanyrequestthatexceedtheauthorizedamount.
Additionally,schoolshouldconducttrainingforallemployeesconcerningexpenseamountsallowedfor
allofficialtravel.
ManagementsResponse:TheBusinessManagerwillensurethatthestatestatueisfollowedfortravel
reimbursements.Thiswillbeimplementedimmediately.
AMYBIEHLHIGHSCHOOL
Condition:FortheyearendedJune30,2015,itwasnotedthattheSchoolreimbursedemployeesfor
mileageatarateoffiftysixcentspermile.
Vol. II - 56
STATEOFNEWMEXICO
AMYBIEHLHIGHSCHOOL(CONTINUED)
2014001MileageReimbursements(Compliance)(Continued)
reimbursement.
Agency.
vehicle.
Managements Response: Amy Biehl High School disputes this finding. In March, 2010 the Finance
DirectoratAmyBiehlHighSchoolreceivedadeterminationfromtheOfficeoftheStateAuditorafter
posing the question: There is one question that I have regarding the mileage reimbursement rate:
When a charter school is authorized by the Public Education Commission, is the school considered a
stateagencyoralocalpublicbody?Theiransweris:Regardlessofwhocharteredtheschool,charter
schoolsfallunderthedefinitionoflocalpublicbodies.
The New Mexico Administrative Code, 2.42.2.11 (D) states: Local Public Bodies: Public officers and
employees of local public bodies may be reimbursed for mileage accrued in the use of a private
conveyanceinthedischargeofofficialduties,atthestatutoryratesunlesssuchrateshavebeenreduced
bythegoverningbodiesofthelocalpublicbodypursuanttoSection10.8.5(D)NMSA1978.Thatstatute
states,inregardstolocalpublicbodies:Thegoverningbodyofanylocalpublicbodymayeliminateor
may reduce the rates set for the per diem and mileage for all or any class of public officials and
employeesofthelocalpublicbodyatanytimethelocalpublicbodydeemsittobeinthepublicinterest,
andsuchreductionshallnotbeconstruedtopermitpaymentofanyothercompensation,perquisiteor
allowance.Thelocalpublicbodyshallexercisethispowerofreductioninareasonablemannerandshall
attempt to achieve a standard rate for all public officers and employees of the same classification.
Basedonthestatuteandregulationnotedabove,thestatutoryrateforlocalpublicbodiesis100%of
the IRS rate unless the governing body of the local public body reduces or eliminates that rate. The
Governing Board of Amy Biehl High School has not reduced or eliminated that rate. Therefore, Amy
BiehlHighSchoolisallowedtoreimburse100%oftheIRSmileagerate.
Auditors Rebuttal: It has been determined that the school is a component unit of the New Mexico
PublicEducationDepartment.BecausetheschoolisacomponentunitofaStateAgency,itmustfollow
state statutes which limit mileage reimbursements to 80% of the Internal Revenue Service standard
mileagerate.
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STATEOFNEWMEXICO
AMYBIEHLHIGHSCHOOL(CONTINUED)
2015001BudgetaryConditions(Compliance)
Condition: The School has an expenditure function where actual expenditures exceeded budgetary
authority:
AmyBiehlHighSchoolFoundation
Fund26187
$98
TheSchoolalsobudgetedinexcessofbeginningcashavailable.
SB9CapitalImprovements
Fund31700
$3,383
expenditures incurred for the Amy Biehl High School Foundation fund. In addition a budget
adjustment request was not submitted for expenditures in excess of beginning cash in the SB9
CapitalImprovementsFund.
Recommendation: The School should establish a policy of budgetary review at yearend and make
thenecessarybudgetaryadjustments.
ManagementsResponse:ThisconditionisaresultofBudgetAdjustmentRequests(BARs)notbeing
submittedtoadjustFY2014endingcashbalancesinthesefunds.AmyBiehlHighSchoolwasunable
to submit Budget Adjustment Requests (BARs) tothe PED to increase the audited 20132014 year
cash balance and thus increase the budget for these funds because the 20132014 audit had not
beenreleasedbythefinalBARsubmissiondeadlineofJune1,2015.Statelawprohibitstheschool
from discussing an audit with anyone, including the Governing Council, until the audit has been
releasedbytheOfficeoftheStateAuditor.Thisruleexistsasanypersonfromthegeneralpublic
may attend open board meetings and any discussion of an unreleased audit to approve BARs
resultingfromtheauditwouldviolatethisrule.AdjustingthecashbalancerequiresaBAR,andaBAR
requiresGoverningCouncilapproval.Infiscalyear2016thebusinessmanagerwillensurethisdoes
notoccuragain.ThiswillbecompletedbyDecember31st.
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STATEOFNEWMEXICO
ANTHONYCHARTERSCHOOL
2014001TimelyDeposits(Compliance)
Condition: During our cash receipts testing, auditor noted that Anthony Charter School did not make
depositsforcashreceiptswithintwentyfour(24)hoursofreceipt.Fifteenoffifteendepositstested,for
a total of $11,159.44, were not deposited timely or school could not provide documentation to show
depositsweredepositedtimely.Noprogresshasbeenmadeinthecurrentyear.
Criteria: Per NMAC 6.20.2.14.B states that money received and receipted shall be deposited in the
Cause:Thereisalackofadequatecontrolsovercashandcashreceipts.
Recommendation: The School should implement policies and procedures that track and maintain all
itemsrelatingtocashreceiptsandensuredepositsaremadetimely.
ManagementsResponse:Currentpoliciesandproceduresareinplacethatrequirethatallpersonnel
adhere to statutory requirements concerning cash receipts. These policies and procedures will be
receivedandreinforcedwiththeappropriatepersonnel.
mileage at a rate of fiftysix cents per mile. Of the 18 travel items tested that included mileage
reimbursements, 80% reimbursed a rate higher than the current statutory rate. Additionally,
documentationforoneofeighteentraveldisbursementstested,intheamountof$327.08couldnotbe
located.Noprogresshasbeenmadeinthecurrentyear.
Effect:TheSchooldidnotcomplywithNewMexicoStateStatutesinregardstomileagereimbursement.
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STATEOFNEWMEXICO
ANTHONYCHARTERSCHOOL(CONTINUED)
Agency.
vehicle.
ManagementsResponse:Theschoolisawareoftherecommendationassetforthbytheauditorsas
prescribedbytheNMPEDasitsauthorizer.Currentmileagereimbursementsaretobesetat80%ofthe
IRSrate.
2014003AuditCommittee(Compliance)
Condition: The School does not have the required members on their audit committee. Currently the
committeeconsistsofthreeBoardofGovernancemembers.Noprogresshasbeenmadeinthecurrent
year.
Criteria:PerNMSA22812.3Eachlocalschoolboardshallappointanauditcommitteethatconsistsof
twoboardmembers,onevolunteermemberwhoisaparentofastudentattendingtheschooldistrict
andonevolunteermemberwhohasexperienceinaccountingorfinancialmatters.
Effect: The School does not comply with New Mexico State Statutes in regards to the appointment of
auditcommitteemembers.
Cause:TheSchoolhasbeenunabletosolicittherequiredmemberstodate.
Recommendation:Werecommendthattheschool reviewstate compliancerequirements andensure

thattheauditcommitteeconsistsofthemembersnecessary.
ManagementsResponse:SchoolmanagementanditsGoverningCouncilareawareoftherequirements
oftheauditcommittee.Aparentofacurrentstudentaswellasavolunteerfromthecommunitywith
financialexperienceareactivelybeingsoughtoutinordertomeetthoserequirements.
2015001PerDiemRateReimbursements(Compliance)
Condition:FortheyearendedJune30,2015,auditornotedthattheSchoolreimbursedemployeesin
excessoftheallowablerateforperdiemintwoofeighteenitemstested.Thetotalexcessreimbursedis
$69.59.Oneofthesereimbursementsincludedpaymentformealsofnonemployees.Additionally,the
Schoolcouldnotprovidedocumentationforoneofeighteentraveldisbursementstested,for$327.08.
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STATEOFNEWMEXICO
2015001PerDiemRateReimbursements(Compliance)(Continued)
Criteria: NMAC 2.42.2.8 (B) (1) states public officers and employees who occasionally travel shall be
reimbursedfortravelthatdoesnotrequireovernightlodgingbutextendsbeyondanormalworkdayas
follows:
(a)forlessthan2hoursoftravelbeyondnormalworkday,none;
(b)for2hours,butlessthan6hoursbeyondthenormalworkday,$12.00;
(c)forsixhours,butlessthan12hoursbeyondthenormalworkday,$20.00;
(d)for12hoursormorebeyondthenormalworkday,$30.00;
NMAC2.42.2.9(B)(3)statesactualexpensesformealsarelimitedbySection1084(K)(2)NMSA1978
(1995Repl.Pamp.)toamaximumof$30.00forinstatetraveland$45.00foroutofstatetravelfora
24hourperiod.
Effect: The School does not comply with New Mexico State Statutes in regards to per diem
reimbursement.
Cause:TheSchoolauthorizedpaymentofperdiemreimbursementsinexcessofauthorizedperdiem
rates.
Recommendation: The School should review statutory amounts allowed for reimbursements, carefully
scrutinizeallrequestforreimbursements,anddisallowanyrequestthatexceedtheauthorizedamount.
Additionally,schoolshouldconducttrainingforallemployeesconcerningexpenseamountsallowedfor
allofficialtravel.
Managements Response: All travel reimbursements will be more completely scrutinized by the
business office and school management to ensure that per diem reimbursements do not exceed
statutorymaximums.
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STATEOFNEWMEXICO
Managements Response: Normal procedures for the school hold that BARs are presented to the
Governing Council for the purpose of matching projected cash carryover amounts to actual cash
carryoveramounts.TheseBARsarethensubmittedtotheNMPED.TheNMPEDrequiresthatallBARs
have official documentation verifying amounts of increase or decrease. Historically, the NMPED has
acceptedtheschoolsprioryearauditasverificationofcashcarryoverfigures.Tothisdate,theOfficeof
the State Auditor has not released the FY14 audit to the public and therefore could not be used as
backupforaBAR.OncetheNMPEDsauditsarebacktobeingreleasedduringanormaltimeframethe
BARprocesscanbeestablishedonceagaintoensurethatbudgetauthorityovercashcarryoveramounts
areverifiedagainstthecompletedaudit.
THEASKACADEMY
2013001 Timely Deposits Noncompliance in Accordance with the New Mexico State Audit Rule
(OtherMatter)
Condition: During testwork over cash receipts, we noted one deposit totaling $1,645.00, made up of
several checks and cash, was collected and not deposited within 24 hours. Management has
implemented the appropriate processes and procedures, however ASK Academy lacks the immediate
responsetodepositfundswithin24hoursofreceivingthem.
Criteria:NMAC6.20.2.14(C)statesthatmoneyreceivedandreceiptedshallbedepositedinthebank
withintwentyfour(24)hoursoronebankingday.
Effect:TheASKAcademywasnotincompliancewiththeStateStatute.
Cause: School personnel did not follow established procedures to deposit the money in a timely
manner.
Recommendation: We recommend that management ensures deposits are made in accordance with
NMAC6.20.2.14.C.
ManagementsResponse:Theschoolhasputadditionalproceduresinplacetoaddresstimelydeposit
ofcashreceipts.
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STATEOFNEWMEXICO
THEASKACADEMY(CONTINUED)
2015001MileageReimbursements(NonCompliance)
Condition: During fiscal year 2015, the ASK Academy used the IRS standard rate for mileage
reimbursements. We reviewed six mileage reimbursement for an employee's private vehicle and the
reimbursementwaspaidattheIRSstandardrate.
Criteria:NMAC2.42.11(b)(1)NMACstatesthatpublicofficersandemployeesofstateagenciesshallbe
reimbursed for mileage accrued in the use of a private automobile at 80% of the internal revenue
service standard mileage rate set January 1 of the previous year for each mile traveled in a privately
ownedvehicle
Effect: The ASK Academy is not in compliance with the Per Diem and Mileage Act and is overpaying
employeesfortravelonbehalfoftheCharter.
Cause:TheChartercontendsthatitisaLocalPublicBodyandnotaStateAgency.AsaLocalPublicBody,
theChartercontendsthatitmayreimbursemileageatthefullamountauthorizedbytheIRS.TheNew
Agency.
Recommendation:TheASKAcademyshouldfollowthePerDiemandMileageActforlocalgovernments
whenpayingformileagereimbursements;reimbursemileageat80%oftheIRSstandardmileagerate
setJanuary1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.
ManagementsResponse:Wedisagreewiththisfinding.Theissueisnotoneofinternalcontrolsatthe
schoolbutratheroneofachangeinopinionbythePublicEducationDepartmentandexternalauditors.
Previously the Public Education Department had issued a memorandum from the deputy secretary of
education which stated charter schools were able to pay the mileage rate at the full IRS rate. Prior
auditors had given charter schools audit findings for paying at the rate suggested here. The school
followedpriorPEDandauditorinstructioninpayingtherate.ThefindingshouldbethatthePEDand
auditorsshouldbeconsistentintheinterpretationsissuedtoschools.
ASKACADEMYFOUNDATION
2015001InternalControlStructure(MaterialWeakness)
Condition:DuringouraudittheFoundationwenotedthefollowing:
Bankreconciliationsarenotpreparedonamonthlybasis.
The President is involved various phases on the accounting process. The President prepares
bond drawdown requests, can post revenues and expenses to the check register, can prepare
andapprovechecks.
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STATEOFNEWMEXICO
ASKACADEMYFOUNDATION(CONTIUNUED)
2015001InternalControlStructure(MaterialWeakness)(Continued)
Criteria:TheCommitteeofSponsoringOrganizations(COSO)oftheTreadwayCommissionidentifiesthat
managementshouldevaluatetheircontrolactivitiestoalevelthatensuretheirpoliciesandprocedures
thathelpensuremanagementdirectivesarecarriedout.Controlactivitieshelptoensurethatnecessary
actionsaretakentoaddressriskstoachievementoftheOrganizationsobjectives.Theyincludeensuring
adequatesegregationofdutieswhichensuresthatalldutiesaredivided,orsegregated,amongdifferent
peopletoreducetheriskoferrororinappropriateactions.Responsibilitiesforauthorizingtransactions,
recordingthemandhandlingtherelatedassetmustbedivided.
Additionally,persoundaccountingstandardsanentityshallestablishandmaintainaninternalcontrol
structure,includingareconcilementfunction,toprovidemanagementwithreasonableassurancethat
assets are safe guarded against loss from unauthorized use or disposition, that transactions are
structureshallincludewrittenadministrativecontrols(rules,proceduresandpractices,andpoliciesthat
applicationsincludingcomputersystems)thatareinaccordancewithGAAP.Additionally,goodinternal
controlsrequirethatanorganizationalstructurebeinplacewhichseparatesincompatibleactivitiesto
precludecontrolbyanyindividual.
Effect: Errors and misappropriation of assets could go unnoticed, which could further result in
unreliablefinancialinformation.
Cause:TheFoundationdidhaveeffectiveinternalcontrolprocessesinplace.
Recommendation:Werecommendedthebankreconciliationsbeperformedonamonthlybasisandthe
Foundation implement financial policies procedures that ensure an adequate level of segregation of
duties.
ManagementsResponse:WiththeissuanceofthebondsandthestartofFY16,thefinancialoperations
of the ASK Foundation have now been moved to an external firm to maintain the bookkeeping
functions. This will include preparation of periodic reports, reconciliation of the bank statement, and
preparation of audit schedules required. The Foundations main activity will continue to be the
purchaseLease/Purchaseoftheschoolsfacility.Becausethisrepresentsmostofthefinancialactivityin
the Foundation and is overseen by the Trustee Bank, the internal controls established protect the
Foundationfrommisappropriation.Areviewofinternalcontrolsoverlocalfundswillbecompletedfor
theremainingfunds.
Vol. II - 64
STATEOFNEWMEXICO
CESARCHAVEZCOMMUNITYSCHOOL
2015001ProcurementCode(NonComplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: During our procurement test work, we noted the School did not obtain three quotes for
securityserviceswhosetotalpaymentsfortheyearamountedto$25,968.Thiscontractwasoriginally
enteredintoinfiscalyear2013.
Criteria: NMAC 6.20.2.17 PURCHASING states A. Each school district shall establish and implement
writtenpoliciesandproceduresforpurchasingwhichshallbeincompliancewiththeProcurementCode,
Section13121etseq.,NMSA1978.Purchasingpoliciesandproceduresforgrantfundingshallcomply
withrequirementsestablishedwithinthegrantandtheProcurementCode.Aninternalcontrolstructure
over purchasing shall be established and maintained to assure compliance with school district policy,
state and federal regulations. The Schools financial policies state All purchases must follow
procurementcoderegulationsasupdatedbytheNMStateGeneralServicesDepartment.Accordingto
NMSAArticleI,Section131104,Centralpurchasingofficesshallsendcopiesofthenoticeorinvitation
forbidsinvolvingtheexpenditureofmorethantwentythousanddollars($20,000)tothosebusinesses
thathavesignifiedinwritinganinterestinsubmittingbidsfornonprofessionalservices.
Effect:TheSchoolcouldbeoverpayingforservicesandgoods.
Cause: Internal controls were not in place to ensure the School follows procurement guidelines when
obtainingavendorfornonprofessionalservices.
Recommendation: For nonprofessional purchases between $20,000 and $60,000, the School should
solicit no fewer than three businesses via written requests containing the specifications for the
procurement.
ManagementsResponse:CesarChavezCommunitySchoolhasproceduresinplacetosolicitaminimum
of three bids for nonprofessional purchases between $20,000 and $60,000. The School has
implementedanewfilingsystemtoallowforbidstobeaccessedaftertheyeartheinitialcontractand
bidding process took place to allow for verification by the auditors. The business manager expects to
havethisprocessimplementedbyearly2016.
CIENAGUASINTERNATIONALSCHOOL
2014001InternalControlStructure(NoncomplianceinAccordancewiththeNewMexicoStateAudit
Rule)
Condition: During testwork over a sample of 25 disbursements and four travel reimbursements we
notedthefollowing:
Purchaseorderswerenotcreatedandapprovedforfivegeneraldisbursementsreviewed.

Vol. II - 65
STATEOFNEWMEXICO
CIENAGUASINTERNATIONALSCHOOL(CONTINUED)
Rule)(Continue)
Foronetravelreimbursement,wenotedthatmealexpensereimbursementwasbasedonthe
U.S.GeneralServicesAdministrationperdiemrateforthelocalewheretheemployeetraveled.
Mealexpensereimbursementwasmadeintheamountof$71perdayfortraveltoLasVegas,
Nevada.
Fortwoofthesampleitemstestedapurchaseorderwasnotavailableforourreview.
For three of the samples items tested an employee travel reimbursement form was not
completedandsubmittedbytheemployeepriortodisbursement.
Foroneofthesampleitemstested mileagewasreimbursedat therateof$.439permilebut
shouldhavebeenreimbursedattherateof$.452permile.
Criteria:PerNMAC6.20.11(A)InternalControlStructureStandards,everyschooldistrictshallestablish
assets are safeguarded against loss from unauthorized use or disposition, that transactions are
affecttheorganization)andaccountingcontrols(activitycycles,financialstatementcaptions
Effect:TheschoolisnotincompliancewithperdiemregulationssetforthbyNMAC2.42.2.9andpolicies
regarding the appropriate documentation of travel and travel reimbursement. The School is at risk of
overexpendingbudgetswhenthepurchaseorderprocessiscircumvented.
Cause:Policiesandprocedureswerenotinplacefortravelreimbursementtoensurecompliancewith
the rules noted above. Additionally, it wasnt until March 2015 that the school developed and
implementedanemployeetravelreimbursementvoucherandemployeerequestfortravelform.
Recommendation:Developandimplementpoliciesandproceduresthatwillensurecompliancewiththe
travel and per diem requirements as setforth by NMAC 2.42.2.9 and ensure policies for the accurate
and timely submission of employee travel reimbursement vouchers and employee request for travel
formsareenforced.
Managements Response: A purchase requisition form was implemented by the current business
managerduringFY2015andenforcedthisFY2016.Allstaffwishingtomakeapurchasecompletesthe
purchaserequisitionfromandsubmitsittotheDirectorforapproval.Afterthepurchaserequisitionhas
been approved by the Director it is then forwarded to the business manager and a purchase order is
created.Asfortravel,arequestfortravelandatravelreimbursementformwereimplementedduring
FY2015andenforcedthisFY2016.Allstaffwishingtotravelcompletestherequestfortravelformand
submitsittotheDirectorforapproval.Aftertherequestfortravelhasbeenapprovedalldocumentsare
submittedtothebusinessmanagerandapurchaseorderiscreatedfortravelexpenses.Whenan
Vol. II - 66
STATEOFNEWMEXICO
Rule)(Continue)
employeereturnsfromthetravelhe/sheisrequiredtocompleteatravelreimbursementformifthey
wishtobereimbursedfortheirtravelexpenses.BothtravelformsnotetheratesasperNMAC2.42.2.9.
Allstaffisnowawareofthenewprocessforpurchasingandfortravel.TheIRSmileageratefor2014
was.56centsandstatewouldbe.448centspermile.TheIRSmileageratefor2015is.575centsand
statewouldbe.46centspermile.Stateis80%ofIRSrateasperNMAC2.42.2.11(1).
2014002PayrollTransactions(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: During internal control testwork over a sample of 25 payroll transactions, we noted the
following:
We noted three employee background checks that were not available for review. The School
was unable to locate them and as a result had background checks completed in August and
September2015fortheseindividuals.
WenotedoneemployeewhereFICA/Medicareisbeingcalculatedongrosswagesandnotgross
wageslessapplicablebenefits.
Leavewasnottrackedfortheschooldirectorthroughoutthecurrentschoolyear.
Criteria:Backgroundchecksshouldbecompletedforallindividualshiredforsensitivepositionsandin
accordancewithwrittenpoliciesandproceduresasestablishedbytheGoverningCouncil.
NMAC6.20.2.18requiresvariousemployeerecordsanddocumentationtobemaintainedandavailable
for inspection, including personnel/payroll action forms that properly document employee
compensation. The Schools payroll processing and payment procedures also have policies and
proceduresfortrackingindividualemployeeleave.
Effect: The School is not in compliance with requirements to have employee background checks
completed and completed timely. Excess social security tax is being withheld each pay date for the
individualnotedabove.TheSchoolisnotincompliancewithitspayrollprocessingandpaymentpolicies
andproceduresandNMAC6.20.2.18.
Cause:TheSchoolspoliciesandproceduresarenotbeingenforced.
Recommendation:Personnelfilesshouldbeperiodicallyreviewedtoensureallrequiredpersonnelfile
documents have been obtained and are complete and accurate, including benefit election forms and
compensationdocumentation.Lastly,leaveforallemployeesshouldbetrackedinaccordancewiththe
Schoolsownpoliciesandprocedures.
Managements Response: A checklist has been created and is used to ensure that all human resource
documentshavebeencollected,enteredandfiledineachemployeespersonnelfile.Leaveistracked
Vol. II - 67
STATEOFNEWMEXICO
for all staff including the director of Cien Aguas International School. The business manager resolved
theseissuesimmediatelyaftertheywerebroughttotheirattention.
2014003AuditCommitteeNoncompliance
Condition:TheSchooldoesnothavetherequiredmembersontheirauditcommittee.
Criteria:PerNMSA22812.3eachlocalschoolboardshallappointanauditcommitteethatconsistsof
twoboardmembers,onevolunteermemberwhoisaparentofastudentattendingtheschooldistrict
andonevolunteermemberwhohasexperienceinaccountingorfinancialmatters.
Effect:Theschoolisnotincompliancewiththeabovenotedstatute.
Cause:TheSchoolhasandcontinuestomakeattemptstosolicittherequiredauditcommitteemembers
buthasnotbeensuccessfulinitsrecruitingefforts.
Recommendation:Continuetosolicitmemberstoserveontheaudit committeeandensureadequate
effortsarebeingmadetoeffectivelyrecruitauditcommitteemembers.
ManagementsResponse:Thegoverningbodyisactivelysearchingforanauditcommitteemember(s).
AsofOctober28,2015,thepositionshavebeenfilled.
2015001ExcessofExpendituresoverBudget(NoncomplianceinAccordancewiththeNewMexico
StateAuditRule)
Condition: The School has the following expenditure functions in the operational fund where actual
expendituresexceededbudgetaryauthorityinthefollowingamounts:
$12,543
OperationandMaintenanceofPlant
FoodServicesOperations
1,533
2285 through 22812.2, NMSA 1978, and procedures for the department in preparing, submitting,
maintainingandreportingbudgetaryinformation.Budgetarycontrolshallbeatthefunctionlevel.Over
expenditureofafunctionshallnotbeallowed.
Effect: The Schools expenditures in the above functions exceeded the total approved budgeted
expenditures.
Cause: Budgetary controls were not in place to adequately monitor and regularly compare budget to
actual results. As a result, measures were not taken to avoid or minimize the amount that actual
expendituresexceededtheapprovedbudgetfortheSchoolsoperationalfund.
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STATEOFNEWMEXICO
2015001ExcessofExpendituresoverBudget(NoncomplianceinAccordancewiththeNewMexico
StateAuditRule)(Continued)
Recommendation:Controlsshouldbeimplementedtoensurethatbudgetedamountsarecomparedto
actualonaregularbasisandthebudgeteffectivelyutilizedforcontrollingexpensesandmanagingcash
flows.
ManagementsResponse:Areviewofrevenuesandexpendituresisnowbeingconductedonamonthly
basis by the Schools business manager to avoid over spending in any fund or account. Budget
adjustmentsand/orjournalentrieswillbepresentedbythebusinessmanagerandapprovedonanas
neededbasistoensurethatwearenotspendingoverourbudgetlimits.Theseprocedureshavealready
beenimplementedandmanagementconsidersthisfindingresolved.
ImprovementsFund31700.Prioryearcashcarryoverwas$56,345whichwasinsufficienttocoverthe
currentyearfinalbudgeteddeficitof$75,398.
Cause:ThebudgetadjustmentrequestdidnotconsiderprioryearcarryoveramountsfortheSB9
Recommendation:WerecommendthattheSchoolestablishapolicywherethebudgetisreviewedat
coversuchoverages.
Managements Response: The budget for fund 31700 was approved by PED during the initial budget
process and which resulted in a deficit amount of $75,398. Per the 4th quarter cash report carryover
fundsamountedto$56,345.However,expensesforFY2015werewellundertheactualbudgetamount
of $175,048 so there was no adverse effect to the schools financial condition as a result of this.
Effective immediately, monthly reviews of the budget by the business manager will now include a
reviewtoensurethatbudgetedexpensesdonotexceedbudgetedrevenuesandiftheydoareviewto
ensure adequate carryover funds to cover the budgeted deficit will be performed. Management
considersthisfindingresolved.
Vol. II - 69
STATEOFNEWMEXICO
CORALCOMMUNITYCHARTERSCHOOL
Condition: During our cash receipts test work, we noted the School did not keep and maintain a cash
receiptlogthatdocumentsthedateofcashreceipts.Wewereunabletoobtainsufficientauditevidence
toconfirmthatdepositsweremadewithinthe24hourrequiredtimeframe.
Criteria:NMAC6.20.2statesthatmoneyreceivedandreceiptedshallbedepositedinthebankwithin
twentyfour(24)hoursoronebankingday.
Effect:TheSchoolwasnotincompliancewithStateStatute.Additionally,theSchoolhasexposeditself
topossiblemisappropriationofassets.
Cause:TheSchoolwasnotawareofthisrequirementinOctober2014whenthiscashreceiptwasnot
depositedtimely.AfterworkingwiththeauditorsduringtheJune30,2014audit,thebusinessmanager
isnowfullyawareofthisrequirementandhasaddressedinternalcontrolsregardingdeposits.
Recommendation:WerecommendthattheSchoolutilizeacashreceiptlogtodocumentthedateand
amount of receipt and create a procedure to ensure that all funds are properly deposited within 24
hours.
ManagementsResponse:Schoolpersonnelhavebeenusingtherequiredreceiptbooktologanddate
theamountofcashreceivedforthe20142015schoolyear.Cashandchecksaredepositedwithinthe
24 hours. Personnel changes were made to insure procedures are being followed as required by the
schoolsInternalControlProcedures.Thisshouldnotresultinadoublefindingduetothetimingofthe
secondaudit.Thebusinessmanagerwillberesponsibleforensuringtheschoolisincomplianceandhas
resolvedthisissueimmediately.
2014002 (Internal Control Structure (NonCompliance in Accordance with the New Mexico State
AuditRule)
Condition: During our internal control testwork over a sample of 26 cash disbursements and 4 travel
reimbursements we noted an instance were the School paid for travel to the head administrator for
$870 in July 2014. There was no purchase order for the payment of this amount. The School requires
thatpurchaseorservicesvaluedatmorethan$500,butlessthan$5,000requiretheSchoolemployee
orofficialtocompleteaPurchaseRequisitionandaPurchaseOrderforPurchasingOfficerapproval.
Criteria: Per NMAC 6.20.2.11 (A) Internal Control Structure Standards, every school district shall
establishandmaintainaninternalcontrolstructuretoprovidemanagementwithreasonableassurance
that assets are safeguarded against loss from unauthorized use or disposition, that transactions are
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STATEOFNEWMEXICO
CORALCOMMUNITYCHARTERSCHOOL(CONTINUED)
2014002 (Internal Control Structure (NonCompliance in Accordance with the New Mexico State
Effect: Purchases could be made without proper approval and expenditures could be reported
inaccuratelytoPEDormisclassifiedintheimproperfund,whichcouldleadtofundsbeingoverspentand
balancesmisstated.
Cause:TheSchooldidnotfollowinternalcontrolpurchasingpoliciesandprocedures.
Recommendation:Ensurepurchaseordersarecreatedpriortoreceivinggoodsandservices.
Managements Response: The request for travel was made prior to the required out of town
professional development per the Internal Control Procedures. At the time of the request it was
anticipated that a purchase order was not required based on expenses. The invoice was consolidated
unexpectedlyatthetimeofcheckoutbythebusiness.Onestaffmemberwasnowrequiredtopayforall
expensesbasedonthehotelsoperationalprocedureandthereforeshouldnotresultinafinding.The
businessmanagerwillberesponsibleforensuringtheschoolisincomplianceandhasresolvedthisissue
immediately.
2015001PayrollTransactions(NonComplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: During our testwork of payroll and payroll related reports, we noted 3 employees did not
haveabackgroundcheckintheiremployeepersonnelfile.
Criteria: Per State Regulation 6.20.2.18, the local board shall establish written payroll policies and
procedures which comply with state and federal regulations on payroll as well as maintaining strict
internal controls, close supervision and financial accounting in accordance with GAAP. School districts
shall maintain and have available for inspection the following employee record documentation:
employment contracts (including increments), personnel/payroll action forms, certification records,
employment eligibility verification (federal form I9 for citizenship certification), federal and state
withholding allowance certificates, pay deduction authorizations, pay or position change notices,
EducationalRetirementActplanapplication,anddirectdepositauthorizations.
Effect:TheSchoolcouldbeexposedtounnecessaryliability
Cause: The School had a change in management and had pending background checks that they never
followeduponwiththestate.
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STATEOFNEWMEXICO
2015001 Payroll Transactions (NonCompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
Recommendation:WerecommendthattheSchoolreviewrequirementsforrequiredpayrollformsand
thatareviewofcompletenessbeperformedannually.
Managements Response: Personnel has been changed and The Human Resources Director is now
responsible for reviewing the completion of all paperwork required for employment. The schools
HumanResourceDirectorwillensuretheyareincomplianceandhasresolvedthisissueasofOctober
2015.
2015002 Budgetary Conditions (Noncompliance in Accordance with the New Mexico State Audit
Rule)
Condition: The School had an expenditure function were actual expenditures exceeded budgetary
authoritybythefollowingamount:
Operational(11000)
$2,707
Criteria:PerNMAC6.20.2.9(A)everyschooldistrictshallfollowbudgetrequirementsstatedinSection
Effect: The School expenditures in the above function exceeded the total approved budgeted
expendituresby$2,707.
Cause: The business manager was aware of the budget overage in early June 2015. However, the
businessmanagerwasinstructedbyaPEDbudgetanalysttomovethe$2,707fromtheFoodServices
fund(21000)totheOperationalfund(11000).Duetothisadjustment,theFoodServicesOperationsline
item (within fund 11000) became over budget. In addition, during June 2015 the system to make any
furtheradjustmentswasdownsotheschoolcouldnotmakeanyfurtherbudgetadjustmentrequestsfor
thisdifference.
Recommendation: Continue to monitor and budgetary requirements and make sure any needed
adjustmentsaremadebeforeyearend.
Managements Response: The school compiled with all budgetary requirements for food services. The
BusinessManagercreatedthebudgetforfoodserviceoperationsbasedonanestimateofrevenuedue
tothefactthattheschoolwasinthefirstyearoffoodserviceoperationsasdirectedbytheschoolsPED
BudgetAnalyst.TheBudgetAnalystrequiredthemoniesbemovedtotheoperationalfundduetothe
factthatthebudgetlineitemwaslessthantheexpenditure.Theschooldidhaverevenuetothecover
theexpenditureandthereforeshouldnotreceiveafindingaswewerefollowingthedirectionofthe
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STATEOFNEWMEXICO
Rule)(Continued)
PEDBudgetAnalyst.Thebusinessmanagerwillberesponsibleforensuringtheschoolisincompliance
andhasresolvedthisissueasofJuly2015.
COTTONWOODCLASSICALPREPARATORYSCHOOL
2014002CompliancewithPayrollRecordkeeping(Compliance/othermatter)
Condition: Out of 40 items tested for controls over payroll, the following exceptions were noted: one
instanceofanI9notonfileand7instancesofanincompleteFormI9,Section2,theemployerreview
andverificationwerenotcomplete.Managementisprogressinginregardstotheimplementationofa
periodicreviewofitspersonnelfiles.
Criteria: Pursuant to 6.20.2.18 NMAC, I9's, among other documents, are required to be included in
personnelfiles.
Effect: Noncompliance with the aforementioned statute with the potential of hiring a noneligible
employee.
Cause:Improperoversightoverthemaintenanceofpersonnelrecords.
Recommendation: We recommend a periodic reinspection of personnel files to ensure continuous

compliancewiththestatutoryrequirements.
ManagementsResponse:Allfileswillbereviewedbypersonnelassignedoversightresponsibilitiesto
ensurecompliance.
2014003ViolationoftheNewMexicoAntiDonationClause(NonCompliance,OtherMatters)
Condition:TheSchoolhasenteredintoaPledgeandCovenantAgreementwithathirdpartylenderto
securedebtofalegallyseparateentity(theCottonwoodClassicalFoundation,a501(c)(3)organization).
Underthetermsofthedebtagreement,thelenderrequiredtheSchooltopledge,transfer,andgranta
securityinterestinandassigntothelenderallfunds,monies,grantsorotherdistributionsreceivedby
theSchoolfromtheStateofNewMexico.
Furthermore,thePledgeandCovenant AgreementidentifiedthattheSchoolestablishandmaintain a
depository account with the lender into which all education funding received by the School from the
Public Education Department (including Equalization Guarantee Funding, Lease Reimbursement
Program payments, and other special funds and federal passthrough funding constituting Adjusted
PledgedRevenues)shallbedepositedinto.Thelenderisauthorizedtowithdrawfromthisaccountupon
defaultbytheCottonwoodClassicalFoundation.
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STATEOFNEWMEXICO
COTTONWOODCLASSICALPREPARATORYSCHOOL(CONTINUED)
2014003 Violation of the New Mexico AntiDonation Clause (NonCompliance, Other

Matters)(Continued)
Criteria:PursuanttoArticleIX,Section14oftheNewMexicoStateConstitution(AntiDonationClause),
neitherthestatenoranycounty,schooldistrictormunicipalityshalldirectlyorindirectlylendorpledge
itscreditormakeanydonationtoorinaidofanyperson,associationorpublicorprivatecorporation.
Effect:AstheSchoolhaspledgedrevenuestosecuredebtpaymentsonanobligationnotowedbythe
School and is in violation of state statute. As a result of this violation, the debt could be considered
invalid.
Cause: The School was unaware that the securitization of debt was a violation of state statute.
Furthermore, the School did not seek approval by the Public Education Department to ensure
compliancewithNewMexicoStateLaw.
Recommendation:WerecommendthattheSchoolseekimmediateassistancefromthePublicEducation
Department for guidance on communication between the Foundation and Lender to renegotiate the
termsofthedebtagreementtoexcludeanyfuturepledgingbytheSchool.Itisfurtherrecommended
that the revised and final debt agreement be reviewed and accepted by the Public Education
DepartmentGeneralCounseltoensurecompliancewithNewMexicoStateLaw.
ManagementResponse:Wedisagreewiththisfinding.TwoseparatelawfirmswithintheStateofNew
Mexicoservedaslegalcounselforthetransaction;onefortheCottonwoodClassicalPreparatorySchool
(School) and one for the Cottonwood Classical Preparatory School Foundation (Foundation). Legal
counselwashiredtoensurecompliancewithallapplicableStateofNewMexicolawsandregulations.
Discussionswiththeschoollegalcounselnote thefollowing.Theschooldidnotpledge withthe third

party lender (bondholders) to secure the debt of the Foundation. The Pledge and Collateral
AgreementssolepurposeistoassurethattheSchoolwillpayitsleasepayments.Thetrusteebankis
onlyallowedtowithdrawfundsforpaymentoftheSchoolsobligationundertheleaseand,onlyfrom
sources eligible to be used for lease payments. There is no agreement for the School to pay any
obligationoftheFoundation.
Inaddition,theSchooldidsubmitaleasepurchaseagreementtotheNMPublicEducationDepartment
(PED) for approval in compliance with department rules and regulations. The PED was provided with
muchoftheinformationfromthistransaction.TheSchoolreceivedaletterdatedAugust8,2014from
SecretaryHannaSkanderaapprovingtheleasepurchasesagreement.CopiedontheSecretarysletter
were the PED Deputy Secretary, Finance & Operations; and, PED General Counsel. No discussion or
questionswereevergiventotheSchoolonthetransactionduringthisprocess.
TheSchooliswillingtoworkwiththeNMPED,andtheFoundationtoaddressanycomplianceissues.
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STATEOFNEWMEXICO
2015001ControlsOverCashDisbursements(SignificantDeficiency)
Condition: In 2 out of 40 disbursements tested, the purchase order was dated after the invoice date,
indicatingthatthepurchasewasnotproperlyapprovedbeforeitwasmade.
Criteria:SectionNMAC6.20.2.17(A),requiresthateachschoolshallestablishandimplementwritten
policiesandproceduresforpurchasingwhichshallbeincompliancewiththeProcurementCode,Section
13121 et seq., NMSA 1978. An internal control structure over purchasing shall be established and
maintained to assure compliance with school policy, and state and federal regulations. Also, the New
MexicoManualofProceduresforPublicSchoolAccountingandBudgeting,Supplement13Purchasing,
states that the preparation and execution of a duly authorized purchase order must precede the
placementofanyorderforgoods,servicesorconstruction.
Effect:Withoutproperapproval,purchasesforunauthorizedgoodsorservicesmayoccur.
Cause:Processesandproceduresinplacewerebypassedbythoseinvolvedinthepurchasingprocess.
Recommendation: We recommend the Charter develop and implement internal controls over
purchasing procedures to ensure that all purchases are approved in accordance with Charter policies
andprocedures.Goodsand/orservicesshouldnotbeordereduntilallrequiredauthorizingsignatures
areobtained.
ManagementsResponse:Theschoolhasinternalcontrolsinplaceoverthepurchasingprocessincluding
therequirementforapurchaseorderpriortoorderingofgoodsorservices.Theschoolwillemphasize
theimportanceofcomplianceoftheserequirementswithstaff.
2015002TravelandPerDiem(Noncompliance)
Condition:Duringfiscalyear2015,theCCPSusedtheIRSstandardrateformileagereimbursements.We
reviewed one mileage reimbursement for an employee's private vehicle and the reimbursement was
paidattheIRSstandardrate.
Criteria:NMAC2.42.11(b)(1)NMACstatesthatpublicofficersandemployeesofstateagenciesshallbe
reimbursed for mileage accrued in the use of a private automobile at 80% of the internal revenue
service standard mileage rate set January 1 of the previous year for each mile traveled in a privately
ownedvehicle
Effect:TheCCPSisnotincompliancewiththePerDiemandMileageActandisoverpayingemployees
fortravelonbehalfoftheCharter.
Cause:TheChartercontendsthatitisaLocalPublicBodyandnotaStateAgency.AsaLocalPublicBody,
theChartercontendsthatitmayreimbursemileageatthefullamountauthorizedbytheIRS.TheNew
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STATEOFNEWMEXICO
2015002TravelandPerDiem(Noncompliance)(Continued)
Agency.
Recommendation: The CCPS should follow the Per Diem and Mileage Act for local governments when
paying for mileage reimbursements; reimburse mileage at 80% of the IRS standard mileage rate set
January1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.
ManagementsResponse:Theschoolcompliedwiththedirectionsenttoitviamemorandumfromthe
PublicEducationDepartment.Itshouldalsobenotedthatpriorauditorshadgiventheschoolafinding
forpayingattheratedrecommendedinthisfinding.ThePEDandStateofNewMexicoareinconsistent
withthedeterminationofwhentheschoolisastateagencyorotherpublicbody.Forpurposesofthe
Section 218 of the IRS, charter schools are considered other public bodies; for purposes of mileage
reimbursement, the direction for the past 5 years was that schools were other public bodies but
recently have determined schools are state agencies. The inconsistent direction given is the cause of
thisfindingnotthepracticesofthecharterschool.
2015003TimelyDeposits(Noncompliance)
Condition:Duringourcashreceipttestingwenotedthatdepositswerenotbeingmadewithintwenty
four (24) hours after being received. In two of fifteen items tested, we noted that $140.00 were not
depositedinatimelymanner.
Criteria: Per NMAC 6.20.2.14.C states that money received and receipted shall be deposited in the
Effect: The Cottonwood Classical Preparatory School is not in compliance with the cash deposit
compliancerequirementsasstatedatNMAC6.20.2.14.C.
Cause:TheCottonwoodClassicalPreparatorySchoollackstheappropriatecontrolsovercashandcheck
receipts.
Recommendation:WerecommendthatCCPSsetpoliciesandproceduresinplacetoensurethatallcash
receiptsaredepositedwithin24hours.
Managements Response: Procedures are in place to ensure timely deposit within the required
timelines.Compliancewiththeseprocedureswillbeemphasizedtostaffcollectingfunds.
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STATEOFNEWMEXICO
authority:
Fund
overAppropriations

StudentTransportation(13000)
StudentTransportation
$(42,535)
forStudentTransportation.
Recommendation:WerecommendthatCCPSshouldestablishapolicyofbudgetaryreviewatyearend
tomakethenecessarybudgetaryadjustments.
Managements Response: The school has a budgetary review process. A Budget Adjustment Request,
BAR,(5020001415026I) was submitted and approved by the Program Manager, Fiscal Analyst and
Fiscal Supervisorandbut disapproved by the Fiscal Director. The school did not received notice of an
increaseinstudenttransportationfundingbutwhenreconcilingthebanktothegeneralledgernoticed
an additional deposit of $46,243. Researching the direct wire from the state disclosed the additional
award.The StudentTransportationDepartmentatPEDwascalledandwiththeirapprovalaBARwas
submitted. The Director used the arbitrary date established by PED for BAR entries as the reason for
disapproval not taking the circumstances into consideration. In addition, the PED did not allow the
schooltobudgetcarryoverbalancesfromFY14withoutacompletedauditwhichhadbeendelayedby
thePED.Withcompletionofthisaudit,theschoolwillsubmitBARstobudgetallfundsavailable.The
school will also work with the PED Student Transportation Department to ensure it is notified
ofallocations/awards.
CREATIVEEDUCATIONPREPARATORYINSTITUTE
2009024PEDCashReport(MaterialWeaknessandCompliance)
Condition: During our test work, it was noted that beginning balances do not agree to the prior year
auditedfinancialstatements.Revenuesdonottietothegeneralledger.Expendituresdonottietothe
generalledger.Endingcashbalancesdonottietothegeneralledger.
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STATEOFNEWMEXICO
CREATIVEEDUCATIONPREPARATORYINSTITUTE(CONTINUED)
2009024PEDCashReport(MaterialWeaknessandCompliance)(Continued)
TheJune30,2015bankreconciliationshowsoutstandingitemsof$311,910.08.ThePEDcashreportat
June30,2015showsoutstandingitemsof$64,122.19.Thevarianceis$247,787.89.
Criteria:AccordingtoStateregulation6.20.2.11(B)(6),NMACandRegulationSBE6,thereportssentto
the New Mexico Public Education Department (PED) must agree to the general ledger. Per the New
Mexico State Audit Rule, the audit report of each school district shall include a cash reconciliation
schedulewhichreconciledthecashbalanceasoftheendofthepreviousfiscalyeartothecashbalance
attheendofthecurrentfiscalyear.
Effect:TheSchoolsreportingtoPEDisnotcorrectandPEDdoesnothaveanaccuratereflectionofthe
schoolscashbalances.
Cause: The School does not have a process in place to ensure that bank accounts are being properly
reconciledtothegeneralledgerandtothePEDcashreport.
Recommendation: The School should put in place procedures to ensure that bank reconciliations
reconciletothegeneralledgerandthePEDcashreport.
Managements Response: The School will work closely with PED to correct the variance and to make
sure that reports are accurate. The Schools Finance Committee will review the reports prior to being
submitted.TheSchoolhascontractedwithapublicaccountingfirmtohelpreconcilecashandprovide
trainingtoschoolpersonnel.TheBusinessManagerisresponsibleforcorrectingthisfinding.TheSchool
anticipateshavingthiscorrectedbytheendofJanuary2016.
2011001InternalControlStructure(MaterialWeaknessandCompliance)
Condition:Duringourfieldworkwenotedthefollowing:
The School posted journal entries to fund balance during the fiscal year. The School was not
able to provide supporting documentation for these fund balance journal entries. The School
wasalsounabletoprovidesupportforotherjournalentriesmadeduringthefiscalyear.There
is also no indication that journal entries are being reviewed and approved by someone other
thanthepreparerofthejournalentries.
TheSchoolwasunabletoprovidedocumentationonhowaccruedliabilitieswerecalculatedat
June30,2015.
Inasampleofsixtycashdisbursements,therewereeightinstancesinwheretheschoolwasnot
able to locate all the supporting documentation. The amounts of these cash disbursements
were:
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STATEOFNEWMEXICO
2011001 Internal Control Structure Repeated and Modified (Material Weakness and
Compliance)(Continued)
$11,050.50, $1,849.84, $1,790.19, $1,210.59, $1,206.25, $801.09, $590.00 and $256.69. The
checks for $1,210.59 and $801.09 were payable to a credit card company. The checks for
$1,849.84and$1,790.19werepayabletotheschoolsBusinessManager.
TheemployersshareofRetireeHealthCareexpendituresdidnotagreetothegeneralledger.
Wenotedadifferenceof$443.
The employers share of FICA and Medicare contributions on the Forms 941 did not agree to
thegeneralledger.Wenotedadifferenceof$1,753.
applicationsincludingcomputersystems)thatareinaccordancewithGAAP.PerNMAC6.20.2.14(F).1
Cash Control Standards, posting errors are not to be erased, crossed out, or in any other manner
eliminated from the ledger. A separate entry is required to incorporate necessary corrections. Cross
referencingofacorrectingentrytotheoriginalerrorshouldbeinsertedunderthe"description"column
oftheledger.
Effect:Financialstatementscouldbemisstated.
Cause:Theschooldoesnothaveaneffectivesetofproceduresinplacetoreviewdocumentationbeing
generatedforfinancialrelatedmatters.
Recommendation:Alljournalentriesshouldbesupportedbythedocumentationneededtomakethose
entries. Journal entries should be reviewed and approved by someone other than the preparer. We
recommend the School develop and implement internal controls over recording expenditures to the
proper general ledger account. Expenditures submitted for reimbursement should be recorded to the
correspondingfundandfunctionrelatedtotheexpense.TheForms941andRetireeHealthCarereports
shouldbereconciledtothegeneralledgerpriortothembeingfiled.
ManagementsResponse:TheSchoolhascontractedwithapublicaccountingfirmtoprovidetrainingto
school personnel. The school will work with additional business support to ensure that the school is
preparingjournal entries accurately and that support is attached. Journal entries will be reviewed by
the Finance Committee prior to being posted. The school will review, revise & implement policies
related to the internal controls including controls related to recording expenditures to the proper
general ledger account.The school will also develop and implement policyoverthereviewof
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STATEOFNEWMEXICO
2011001InternalControlStructure(MaterialWeaknessandCompliance)(Continued)
monthly,quarterly&annualreportspriortothembeingsubmitted.TheBusinessManagerisresponsible
forcorrectingthisfinding.TheSchoolanticipateshavingthiscorrectedbytheendofJanuary2016
Condition: The School had funds with expenditure functions where actual expenditures exceeded
budgetaryauthority:
OperationalFund
Instruction
$42,547
DualCreditInstructionalMaterialsFund
Instruction
$1,207
expendituresincurredfortheOperationalFundandtheDualCreditInstructionalMaterialsFund.
Recommendation: The School should establish a policy of budgetary review at yearend and make
thenecessarybudgetaryadjustments.
Managements Response: The School along with the Finance Committee will establish a policy of
budgetary review at the end of each Quarter and check that the necessary budgetaryadjustments
havebeenmade.TheBusinessManagerisresponsibleforcorrectingthisfinding.Proceduresshouldbe
inplacebyDecember31,2015.
201103BankAccounts(MaterialWeakness)
Condition:Duringourtestworkovercashwenotedthefollowing:
The bank reconciliation for June 30, 2015 reports $311,910.08 in outstanding items. This
amountincludes$234,937.97ofitemsthathavebeenoutstandingformorethanoneyear.
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STATEOFNEWMEXICO
201103BankAccounts(MaterialWeakness)(Continued)
Bankreconciliationsfortheentirefiscalyearwereexamined.ItwasnotedthattheExpected
GL and Actual GL did not match in any month. The smallest variance was $64,292.42, the
largestvariancewas$80,366.23,andtheaveragevariancewas$72,856.70.
Therewasnoevidenceofthebankreconciliationsbeingreviewed.
Criteria: All bank accounts should be reconciled on a monthly basis. Outstanding items should be
investigated and the general ledger should be adjusted for any stale dated checks. Reconciled bank
statementsshouldbereviewedbysomeoneotherthanthepreparerforaccuracy.
Effect:ItcannotbedeterminedifcashbalancesarecorrectatJune30,2015.
Cause:Thereisalackofunderstandingoverhowthebankreconciliationreportisgeneratedandhowto
clearitemsthathavecleared.Thishasledtoerroneouslyidentifiedoutstandingitems.
Recommendation:WerecommendthatSchoolpersonnelobtainadditionaltraininginhowtoreconcile
thecashaccountsusingtheAPTAfundaccountingsoftware.
ManagementsResponse:TheSchoolhascontractedwithapublicaccountingfirmtohelpreconcilecash
and provide training to school personnel. The Business Manager is responsible for correcting this
finding.TheSchoolanticipateshavingthiscorrectedbytheendofJanuary2016.
2012003ERBContributions(Compliance)
Condition:DuringourfieldworkwenotedthattheemployersshareofERBexpendituresreporteddid
notagreetothegeneralledger.Wenotedadifferenceof$5,302.
Criteria: Per the ERB rules, the electronic reports, consisting of salaries and contributions and
demographicinformation,mustbesentbythe15thofthemonthfollowingthemonthcoveredbythe
Report. The form must be faxed the same day that the contributions are electronically submitted, no
laterthanthe15thofthemonthfollowingthemonthcoveredbytheReport.Theamountsreportedon
theERBformsshouldreconcilewiththegeneralledger.
Effect:ItisunclearifthecorrectamountswerecontributedtotheEducationalRetirementBoard.
Cause:Thecontributionreportsarenotbeingreconciledtothegeneralledger.
Recommendation: The School establish procedures to reconcile the amounts on the ERB contribution
reportsandthegeneralledger.
ManagementsResponse:The school will develop and implement policy over the review of
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STATEOFNEWMEXICO
2012003ERBContributions(Compliance)(Continued)
monthly, quarterly& annual reports priorto them being submitted. Reports will be reviewed by the
Finance Committee priorto beingsubmitted. The Business Manager is responsible for addressing this
finding.ProceduresshouldbeinplacebyDecember31,2015.
2013002CashManagement(MaterialWeakness)
Condition:Duringourtestingofrevenuewenotedthefollowingitems:
Areimbursementintheamountof$56,727.59forFund24162TitleISchoolImprovementwas
posted to Fund 24120 IDEAB Risk Pool on the general ledger. An audit adjustment was
requiredtocorrectthis.
Areimbursementof$7,578.27forFund24101TitleIIASAwasproperlypostedtofund24101,
however, the same reimbursement was also posted on the general ledger to Fund 14000
InstructionalMaterials.Anauditadjustmentwasrequiredtocorrectthis.
Criteria: According to Part 3 of the A133 Compliance Supplement, When entities are funded on a
reimbursement basis, program costs must be paid for by entity funds before reimbursement is
requested from the Federal Government. Per OMB Circular A110, _.21 Subpart C PostAward
Requirements,Recipientsfinancialmanagementsystemsshallprovideforthefollowing:
Accurate,currentandcompletedisclosureofthefinancialresultsofeachfederallysponsored
project or program in accordance with the reporting requirements set forth in
Section_.52Records that identify adequately the source and application of funds for federally
sponsored activities. These records shall contain information pertaining to Federal awards,
authorizations,obligations,unobligatedbalances,assets,outlays,incomeandinterest.
Effectivecontroloverandaccountabilityforallfunds,propertyandotherassets.
Comparisonofoutlayswithbudgetamountsforeachaward.
Proceduresfordeterminingthereasonablenessandallowabilityofcostsinaccordancewiththe
provisionsoftheapplicableFederalCostPrinciplesandthetermsandconditionsoftheaward.
Accounting records including cost accounting records that are supported by source
documentation.
Effect: The Schools ability to effectively manage its operations in order to meet the compliance
requirementofgrantswasimpaired.Theriskthaterrorsorfraudcouldgoundetectedwassignificantly
increased.Doublebookingarevenueitemmisstatesthefinancialstatementsandwillcausecashnotto
properlyreconcile.
Cause:Theschooldidnotreconcilegrantfundsatyearendtoamountsbudgeted.
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STATEOFNEWMEXICO
2013002CashManagement(MaterialWeakness)(Continued)
Recommendation: We recommend the school implement policies to ensure that all reimbursement
requests have the correct expenses in the correct funds and that all reimbursed funds are properly
reconciled.
Managements Response: The school will work with additional business support to ensure that the
school is preparing reimbursements accurately and that support is attached. Request f o r
Reimbursements will be reviewed by the Finance Committee prior to being entered into OBMS.
The school will review, revise & implement policies related to the RFRs including controls related to
recording expenditures to the proper general ledger account. The school will also develop and
implementpolicyoverthereviewofRFRspriortothembeingsubmitted.TheBusinessManagerwillbe
responsibleforcorrectingthisbyDecember31,2015.
2014001LackofSegregationofDuties(MaterialWeakness)
Condition: The Schools Business Manager, records payments on the general ledger and prepares the
monthly bank reconciliation. For checks under $1,000 the Business Manager can sign checks without
anotherchecksigner.Wealsonotedinasampleoftwentycancelledcheckschosenfortestingthatthe
Business Manager signed three checks ($15,730.15, $7,391.60, and $4,593.00) without another
authorizedsigneronthechecks.
Criteria: NMAC 6.20.2.12 requires that an organizational structure be in place which separates
incompatibleactivitiestoprecludecontrolbyanyindividual.
Effect: The potential for misappropriation of funds is present when one person is responsible for all
phasesofanaccountingprocess.
Cause:TheSchooloperateswithalimitedstaffsize.
Recommendation:TheSchoolshouldimplementasysteminwhereaccountingactivitiesareseparated
totheextentpossiblewithitssmallstaffsize.TheBusinessManagershouldnotbeanauthorizedsigner
oncheckingaccounts.
ManagementsResponse:TheSchoolwilldevelopandimplementfinancialpoliciesandproceduresthat
willensuresegregationofduties.TheSchoolhasalreadyaddedtwoboardmembersassignersonthe
Schools checking account. The Business Manager will ensure that these policies are put in place by
December31,2015.
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STATEOFNEWMEXICO
2014002RetireeHealthCareContributions(Compliance)
Condition: During our fieldwork we noted that for the months of October 2014 and May 2015 the
monthlycontributionsweremadeafterthetenthdayofthesubsequentmonth.
Criteria:Monthly contributions to the Retiree HealthCare (RHC) are required to beremitted no later
than the 10th of the following month per NMSA 1978 107C15.
Effect: The School is not in compliance with New Mexico State Statutes in regards to Retiree Health
Contributionsbeingsubmittedtimely.
Cause:The reports were not properly reviewed to ensure they were submitted on time.
Recommendation:We recommend that school management implement an internal control system

toinsurethatRetireeHealthContributionsare processedandpaidinatimelymanner.
Managements Response: The School will develop and implement policy over the review of monthly,
quarterly & annual reports prior to them being submitted. Reports will be reviewed by the Finance
Committeepriortobeingsubmitted.TheBusinessManagerwillensurethatproceduresareinplaceby
December31,2015tocorrectthis.
2014003PurchaseOrders(SignificantDeficiencyandCompliance)
Condition:Duringourtestingofsixtycashdisbursementswenotedthefollowing:
There were seven instances ($595.00, $135.42, $2,435.67, $574.73, $569.25, $330.00 and
$478.08)inwhichthePurchaseOrderwaspreparedsubsequenttothevendorsinvoicedate.
Onevendorsinvoiceintheamountof$856.00hadtheinvoicedatewhitedout.Itcouldnot
bedeterminedifthePurchaseOrderwaspreparedpriortothepurchase.
Criteria: Section NMAC 6.20.2.17 (A), r e q u i r e s t h a t e ach school shall establish and
implement written policies and procedures for purchasing which shall be in compliancewiththe
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STATEOFNEWMEXICO
2014003PurchaseOrders(SignificantDeficiencyandCompliance)(Continued)
ManagementsResponse:TheSchoolwillsetuptrainingforallpersonnelsothateveryoneunderstands
the School and State guidelines regarding purchasing. The Business Manager will ensure that this
trainingoccursbyDecember31,2015.
mileage at rates of fifty six cents per mile and fifty one cents per mile. Both rates are above the
approvedrates.
reimbursement.
Cause:TheSchoolpersonnelwerenotfamiliarwiththeapprovedrateformileagereimbursement.
vehicle.
ManagementsResponse:TheSchoolwasunawarethatitcouldonlypay80%oftheIRSmileagerate
setJanuary1ofthepreviousyear.Theschoolwillupdateitspoliciestoreflectthiscorrectedamount.
TheBusinessManagerwillensurethatthisiscorrectedbyDecember31,2015.
2015001TrialBalance(MaterialWeakness)
Condition:FortheyearendedJune30,2015,itwasnotedthatnotallexpenditureamountsontheTrial
Balance provided to the auditors agree to the Approved Public School Operating Budget Actual
ExpenditureRollupReportonfilewiththeNewMexicoPublicEducationDepartment.
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STATEOFNEWMEXICO
2015001TrialBalance(MaterialWeakness)(Continued)
Effect:TheNewMexicoPublicEducationDepartmentmaynothaveaproperfinancialreportingofthe
School.
Cause: School personnel were aware of account balances that required correcting. School personnel
worked on these variances after submitting final numbers to the New Mexico Public Education
Department.
Recommendation: The School should reconcile its final General Ledger and Trial Balance by the
requiredNewMexicoPublicEducationDepartmentduedate.TrialBalancesprovidedonfutureaudits
shouldtietotheamountsreportedtotheNewMexicoPublicEducationDepartment.
Managements Response: The school will work with additional business support to ensure that the
schoolsfinaltrialbalanceisproperlyreconciledforfiscalyear2016.TheBusinessManagerwillensure
that New Mexico Public Education Department deadlines are properly met with the appropriate
information.
DREAMDINECHARTERSCHOOL
2015001 Payroll and Personnel Files (Material Weakness and Noncompliance in Accordance with
theNewMexicoStateAuditRule)
Condition: During our internal control testwork over a sample of twentyone payroll transactions we
notedthefollowing:
TwooftheemployeestestedhadincompleteI9sonfile.
Twoemployeesdidnothavebackgroundchecksonfile.
Oneemployeebackgroundcheckwasnotsubmittedbytheschoolinatimelymanner.
Wenotedfouremployeesforwhichanemploymentcontractwasnotavailableforourreview.
Consequently,wewereunabletodeterminewhattheapprovedcompensationwas.
WenotedfifteeninstanceswhereSocialSecurityandMedicaretaxeswerecalculatedonnetpay
butshouldhavebeencalculatedongrosspay.
Vol. II - 86
STATEOFNEWMEXICO
DREAMDINECHARTERSCHOOL(CONTINUED)
2015001 Payroll and Personnel Files (Material Weakness and Noncompliance in Accordance with
theNewMexicoStateAuditRule)(Continued)
We noted an instance when an employees NMPSIA withholding were calculated using an

incorrectrate.
Criteria:NMAC6.20.2.18requiresvariousemployeerecordsanddocumentationtobemaintainedand
available for inspection, including personnel/payroll action forms that properly document employee
compensation.Additionally,thelocalboardshallestablishwrittenpayrollpoliciesandprocedureswhich
complywithstateandfederalregulationsonpayrollaswellasmaintainingstrictinternalcontrols,close
supervisionandfinancialaccountinginaccordancewithGAAP.
Pursuantto2210.3.3NMSA1978,policiesandproceduresshouldbedevelopedrequiringbackground
checks on an applicant who has been offered employment with unsupervised access to students at a
charterschool.
Lastly, a Section 125 plan is the only means by which an employer can offer employees a choice
betweentaxableandnontaxablebenefits.
Effect:TheSchoolisnotincompliancewithitspayrollpoliciesandproceduresandNMAC6.20.2.18and
isnotincompliancewith2210.3.3NMSA1978,asitfailedtoobtainrequiredbackgroundchecks.Also,
theSchoolisnotincompliancewithInternalRevenueServicepayrolltaxrequirements.
Cause:TheSchoolspoliciesandproceduresarenotbeingenforced.Payrolltaxesarebeingwithheldas
ifaSection125compliancecafeteriaplanisinplace.However,nosuchformaldeterminationhasbeen
made.
documents have been obtained and are complete and accurate, including benefit election forms and
compensation documentation. Internal controls should be implemented to ensure taxes and
withholdingsarecorrectlycalculated.Policiesandproceduresgoverningbackgroundchecksshouldbe
strictlyenforced.
Managements Response: Dream Dine Charter School was in their first year of operations. New
procedures are being implemented to ensure that all files are reviewed and that the checklist of
documents is included in the file. A Section 125 Plan will also be put in place for the school. The
businessmanageranddirectorareresponsibleformakingsuretheseproceduresareinplaceandthey
willbeputintoplaceimmediately.Thereviewofthefileswillbeanongoingprocess.
Vol. II - 87
STATEOFNEWMEXICO
DREAMDINECHARTERSCHOOL(CONTINUED)
2015002 Internal Control Structure (Noncompliance in Accordance with the New Mexico State
AuditRule)
Condition: During our internal control test work over twentyfive disbursements, we noted one
disbursementwaspaidforanamountgreaterthantheinvoice.
Effect:TheSchooloverpaidforgoods.
Cause: The check was made out in the amount of the purchase order and not based off of an actual
invoice.TheactualcostofthegoodsendedupbeinglessthantheamountonthePO.
Recommendation: Ensure that checks agree to invoices and are adequately reviewed prior to
disbursementsbeingmadetovendors.
Managements Response: Dream Dine Charter School was in their first year of operations. New
proceduresarebeingimplementedtoensurethatallpurchasesgothroughamorestringentprocessof
reviewpriortomakingpayment.Ifpurchasesarepickedupafteraquotewaspreparedforpaymenta
reviewofthereceiptwillbereviewedinternallytomakesurethatthepurchaseagreedtothequote.
Thebusinessmanageranddirectorareresponsibleformakingsuretheseproceduresareinplaceand
theywillbeputintoplaceimmediately.Trainingoftheseprocedureswillbeongoing.
EASTMOUNTAINHIGHSCHOOL
Condition: During our testing of sixty cash disbursements, there were five instances ($2,025, $1,995,
$2,875, $2,093 and $10,764) in which the purchase order was prepared subsequent to the vendors
invoicedate.Noprogresshasbeenmadeinthecurrentyear.
Vol. II - 88
STATEOFNEWMEXICO
EASTMOUNTAINHIGHSCHOOL(CONTINUED)
2014002PurchaseOrdersSubsequenttoInvoice(SignificantDeficiency)(Continued)
sufficientforordering;thatanapprovedpurchaseorderisrequiredperSchoolandStateguidelines.
Management Response: We will continue to hold inservice trainings for staff on the proper steps to
followforpurchasing.TheBusinessManagerwillberesponsibleforcoordinatingthetraining.Training
willbecompletedbyDecember31st.
Condition:FortheyearendedJune30,2015,itwasnotedthatEastMountainHighSchoolreimbursed
employees for mileage at a rate of fifty six cents per mile. No progress has been made in the current
year.
reimbursement.
Agency.
Vol. II - 89
STATEOFNEWMEXICO
EASTMOUNTAINHIGHSCHOOL(CONTINUED)
vehicle.
Management Response: We will follow the directions of our Authorizer in paying miles traveled in a
privatelyownedvehicle.TheBusinessManagerhopestohaveadeterminationbyDecember31st.
Criteria: In accordance with Public Education Department (PED) requirements and 6 66 NMSA 1978,
theSchoolisrequiredtofollowPEDproceduresrelatingtoBudgetAdjustmentRequests.Thisincludes
Management Response: We agree that we should have submitted a decrease BAR in the amount of
$18,456.InthefuturewewillbemorediligenttomakesureBARsaresubmittedwhenfundbalance(s)
isadjusted.Infiscalyear2016,theBusinessManagerwillpostthenecessaryBARsbythePEDdeadline
dates,ifneeded.
Vol. II - 90
STATEOFNEWMEXICO
ESTANCIAVALLEYCLASSICALACADEMY
2015001Excessof Expenditures over Budget (NonCompliance inAccordancewith theNewMexico

StateAuditRule)
Condition: The School had an expenditure function where actual expenditures exceeded budgetary
authority:
OperationalFund
Instruction$3,394
2285 through 22812.2 NMSA 1978, and procedures of the department in preparing, submitting,
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.9andtheSchoolsactualexpendituresinthe
above function exceeded the total approved budget expenditures, which could result in deficit fund
balances.
expendituresexceededtheapprovedbudgetfortheabovefund.
Recommendation: Budget adjustment requests should be presented and approved before expending
funds in excess of the budget. Controls should be implemented to ensure that budget amounts are
compared toactualona regularbasisandthebudgeteffectivelyutilizedforcontrollingexpensesand
managingcashflow.
Managements Response: The Business Manager along with the finance committee will review
expenditurelineitemsonamonthlybasis.AllBARswillbesubmittedonamonthlybasisasrequiredto
ensure that expenditure line items do not exceed budget authority. This process will be implemented
immediately.
2015002 Internal Control Structure over Payroll (NonCompliance in Accordance with the New
MexicoStateAuditRuleandSignificantDeficiency)
Condition:Duringourreviewoftwentyfivepayrolldisbursementswenotedthefollowing:
Four instances where employee pretax payroll deductions were not deducted prior to the
assessmentofMedicaretaxes.
One instance where an employee elected and was receiving family dental coverage; however,
the employee was charged at the twoparty rate. This resulted in the employee being under
charged for dental insurance. The employee should have been charged $2.83 per pay period
howevertheemployeewascharged$2.08perpayperiod.
Vol. II - 91
STATEOFNEWMEXICO
ESTANCIAVALLEYCLASSICALACADEMY(CONTINUED)
2015002 Internal Control Structure over Payroll (NonCompliance in Accordance with the New
MexicoStateAuditRuleandSignificantDeficiency)(Continued)
TwoinstanceswhereanemployeeexemptfromtheEducationalRetirementActwasincorrectly
assessedERBcontributions.Forthepayrollperiodstested,eachemployeewasassessed$13.80
and$23.71,respectively.
Criteria: NMAC 6.20.2.12 requires every school to conduct independent checks on performance and
propervaluationofrecordedamounts,suchasclericalchecks,reconciliations,comparisonofassetswith
recorded accountability, computer programmed controls, management review of reports that
summarizethedetailofaccountbalancesanduserreviewofcomputergeneratedreports.TheSchoolis
also required to maintain an internal control structure to demonstrate the ability to record, process,
summarizeandreportfinancialdata.Inaddition,theinternalcontrolstructureshalldemonstratethat
the school identifies applicable law and regulations, and that procedures are designed to provide
reasonableassurancethattheschoolcomplieswiththoselawsandregulations.
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.12.Inaddition,theSchoolandtheemployees
arenotpayingthecorrectamountoftaxesandbenefits.
Cause: Internal controls are not in place to ensure deductions are properly entered into the payroll
system.
Recommendation: Implement internal controls to ensure deductions are properly entered into the
payroll system. A review should be performed for all employees to ensure deductions are properly
calculatedandentered.
Managements Response: All payroll deductions are currently under individual review and will be
corrected immediately. All employee deductions that were overdeducted will be reimbursed to the
employee no later than November 30, 2015. All IRS, ERB, NMPSIA and Legacy deductions will be
properly reviewed and reconciled on a monthly basis. The business manager will be responsible for
implementingthesechanges.
EXPLOREACADEMY
2015001LackofSupportForPayrollSalaryCalculations(SignificantDeficiency)
Condition:Throughourpayrolltestworkwenotedthefollowing:
We were unable to determine how the pay was calculated for three out the 25 payroll
transactionstested.
Managementwasunabletoprovidesupportfortwooutof25raisesgrantedtoemployees.
Supportforraisescouldnotbeprovidedforoneoutofthe16payrollregisterstested.
Vol. II - 92
STATEOFNEWMEXICO
EXPLOREACADEMY(CONTINUED)
2015001LackOfSupportForPayrollSalaryCalculations(SignificantDeficiency)(Continued)
Explore Academy stated they adopted and utilized the Rio Rancho Public Schools Salary
Schedule; however, the approved board minutes stated Albuquerque Public Schools Salary
Schedulewastobeadopted.
Criteria: 6.20.2.18 NMAC states, schools must maintain strict internal controls, supervision, and
financialaccountinginaccordancewithGAAPoveritspayrollprocess.Furthermore,schoolsmusthave
personnel/payrollactionformsandpayorpositionchangenoticesavailableforinspection.
Effect: Explore Academys employees could be under or over paid. Furthermore, incorrect salary
paymentscouldgounnoticed.
Cause:Theproperlevelofsupportingdocumentationwasnotmaintainedandtherewasbreakdownin
communicationlines.
Recommendation:ExploreAcademysBusinessManagershouldmaintainallsupportforpayraisesand
pay rate calculations. Explore Academys Principal should review and approve all payroll registers.
Additionally, Explore Academy should ensure its salary schedule is in line with the board adopted
schedules.
Management Response: Additional controls of maintaining all supporting documentation of contracts

and any contract changes have been established. The administrative staff is currently looking for the
minutesreflectingtheadoptionoftheRRPSSalarySchedule.
2015002ReviewandApprovalofPurchases(OtherMatter)
Condition: During our cash disbursement testwork we noted four out of 25 items totaling $23,415 in
whichthepurchaseorderandpurchaserequisitionwerecreatedandapprovedafterthepurchasehad
beenmade.Oneofthesefourpurchasesintheamountof$21,791relatedtoapriorpurchaseorderthat
hadbeencreatedpriortothefiscalyear;however,theapprovedpurchaseordercouldnotbeprovided
bymanagement.
Criteria:ExploreAcademysInternalControlPolicies/ProceduresineffectforSchoolYear201415states
in the Internal Controls Purchases Section that a purchase cannot be made without an approved
purchaseorder.
Effect:Unbudgeted,unnecessary,orunwantedpurchasescouldbemade.
Cause:Therewasabreakdownintheinternalcontrolssurroundingthecashdisbursementsprocess.
Vol. II - 93
STATEOFNEWMEXICO
EXPLOREACADEMY(CONTINUED)
2015002ReviewandApprovalOfPurchases(OtherMatter)(Continued)
Recommendation: Purchase requisitions and purchase orders should be created and approved before
anypurchasesaremade.
ManagementResponse:Asstatedinthecriteria,exploreacademyhaspropercontrolsinplace.These
controlshavebeenreemphasizedtostafftoensurecompliancethroughouttheyear.
Condition: The Explore Academy has expenditures where actual expenditures exceeded budgetary
authority:
Excess
of
Expenditures
over
Fund
Appropriations

Operational11000
OperationofNoninstructionalservices $(17,497)
Effect:TheExploreAcademyisnoncompliantwithStatelaw.
fortheOperationalfund.
Recommendation:WerecommendthattheExploreAcademyestablishapolicyofbudgetaryreviewat
yearendtomakethenecessarybudgetaryadjustments.
ManagementResponse:Thefinancecommitteeandentiregoverningcouncilhavebeenmadeawareof
budgetary issues, and will continue to be advised on such issues when they arise to ensure full
compliance.
GILBERTL.SENA
2014001SupportingDocumentation(SignificantDeficiency)
Condition:Thesupportingdocumentationfortwo($32&$43)ofthefivetraveldisbursementsselected
fortestingcouldnotbelocatedbySchoolpersonnel.Noprogresshasbeenmadeinthecurrentyear.
Criteria:PerNMAC6.20.2.11(A)InternalControlStructureStandards,"everyschool district shall
Vol. II - 94
STATEOFNEWMEXICO
GILBERTL.SENA(CONTINUED)
2014001SupportingDocumentation(SignificantDeficiency)(Continued)
GAAP."
Effect:TheSchoolcouldbepayingforexpendituresthatwerenotproperlyauthorized.
Cause:TheSchoolhashadthreeBusinessManagersintheperiodbetweenJune30,2014andthetime
thattheauditwasconducted.DuringthetransitionsbetweenBusinessManagers,documentationwas
notproperlymaintained.
Recommendation: The School should put in place internal controls so that documentation for all
financialactivityisavailableforexaminationbothbyschoolpersonnelandexternalpartiessuchasthe
auditors.
Managements Response: Gilbert L. Sena Charter High School currently has an established policy for
procurement and the maintenance for the records from procurement. Gilbert L. Sena Charter High
SchoolexperiencedafluctuationinitslistedBusinessManagerduringFY2015.Managementisconfident
that given stability in the business office that crucial backup documents have been maintained and
accountedforproperly.TheBusinessManagerwillensurethatinternalcontrolsareinplacetocorrect
thisfindingbyDecember31,2015.
2015001Penalties/Fees(Compliance)
Condition:DuringourtestworkwenotedtheSchoolincurredpenaltiesof$4,786forlatepayrolltax
depositsand$99.93forlatepaymentofavendorinvoice.
Criteria:AllfundsallocatedtotheSchoolaretobespentonallowableexpendituresinaccordancewith
NMAC 6.20.2. Per OMB Circular A87, fines, penalties, damages or other settlements resulting from
violations of, or failure of the governmental unit to comply with, Federal, State, local or Indian tribal
laws and regulations are unallowable. Article IX, section 14, of the AntiDonation Clause states that
publicfundsmaynotbeexpendedforthebenefitofsomeoneotherthantheintendedrecipients.
Effect: These penalties are unnecessary costs paid by the School. The school could be misusing funds
intendedforthebenefitofthestudents.
Vol. II - 95
STATEOFNEWMEXICO
2015001Penalties/Fees(Compliance)(Continued)
Cause: Duedatesforpayrolltaxesandvendorinvoiceswerenotbeingproperlymonitored.
Recommendation:TheSchoolshouldestablishapolicytomonitorreportsandpaymentstoensure
submissionistimelyandnofurtherpenaltiesareincurred.
ManagementsResponse:GilbertL.SenaCharterHighSchoolhasimplementedaprocesstoreviewall
due dates for payroll taxes and vendor invoices to ensure that required amounts are being paid and
processedcorrectly.TheBusinessManagerwillensurethatinternalcontrolsareinplacetocorrectthis
findingbyDecember31,2015.
fortheSB9CapitalImprovementsFund.
Criteria: In accordance with Public Education Department (PED) requirements and 6 66 NMSA 1978,
theSchoolisrequiredtofollowPEDproceduresrelatingtoBudgetAdjustmentRequests.Thisincludes
ManagementsResponse:Theauditedfinancialsfromtheprioryearhavestillyettobereleasedbythe
OfficeoftheStateAuditor.ThesefinancialsnormallyserveasourbackuptotheBARsubmissiontothe
PED.WithouttheauditbeingreleasedwehavenoacceptablebackuptoprovidetoPED.TheBusiness
Manager will be responsible for posting the necessary BAR for cash carryover with PED. This will be
completedbyDecember31st.
Vol. II - 96
STATEOFNEWMEXICO
Condition: During our testing of sixty cash disbursements we noted there were fourteen instances
(totaling $50,597.16) in which the Purchase Order was prepared subsequent to the vendors invoice
date.
Managements Response: Gilbert L. Sena Charter High School has internal control procedures
established. These procedures will be emphasized with staff. An approved Purchase Order will be in
placebeforeplacinganorderwithavendor.TheBusinessManagerwillensurethatinternalcontrolsare
inplacetocorrectthisfindingbyDecember31,2015.
2015004CheckSigning(Compliance)
Condition: During our testing of sixty cash disbursements, there was one instance in the amount of
$430.18whereacheckonlyhadoneauthorizedsigner.
and federal regulations. The School has established an internal policy which requires all checks to be
signedbytwoauthorizedchecksigners.
Effect:TheSchoolwasnotincompliancewithitsowninternalcontrolprocedures.Noncompliancewith
establishedinternalcontrolsplacestheSchoolatriskforfraudormisuseofpublicfunds.
Vol. II - 97
STATEOFNEWMEXICO
2015004CheckSigning(Compliance)(Continued)
Recommendation: The School should follow its own internal controls and ensure that all checks be
signedbytwoauthorizedchecksigners.
ManagementsResponse:GilbertL.SenaCharterHighSchoolhasadoptedpoliciesandproceduresthat
currentlyaddressthisfinding.Thesepoliciesandprocedureswillbereviewedandreinforcedwiththe
appropriatepersonnel.TheBusinessManagerwillensurethatinternalcontrolsareinplacetocorrect
thisfindingbyDecember31,2015.
THEGREATACADEMY
Condition:FortheyearendedJune30,2015,itwasnotedthattheSchoolreimbursedaboardmember
formileageatarateoffiftysixcentspermile.Theoverreimbursementtotaled$22.80.
reimbursement.
Agency.
vehicle.
ManagementsResponse:Duringfiscalyear20142015,therewasonlyonemileagereimbursementfor
aboardmembertoattendatraining.Theratewasatfiftyonecentspermilenotfiftysixcentspermile.
Theschoolisnowawareofthismileageratechangeandwillupdateourmileagereimbursementrates
Vol. II - 98
STATEOFNEWMEXICO
THEGREATACADEMY(CONTINUED)
to80%oftheIRSstandardmileagerate.Thebusinessmanagerisresponsibleforthisandthemileage
reimbursementswillbeupdatedbyDecember31st.
Condition:TheSchoolalsobudgetedinexcessofbeginningcashavailable.
OperationalFund11000
$133,292
Cause:A budget adjustment requestwasnotsubmittedforexpendituresinexcessofbeginningcash

intheOperationalFund.

Managements Response: The GREAT Academy received a $190,833.93 decrease in SEG and on
November12,2014,NMPEDsenttheschoolanemailrequestingthattheschoolneededtodoaBAR
to move the reduced amount from the expenditure budget into function 2900 object 58215
RestrictedExpendituresbudgetlinesothatthemoneycannotbespent.TheschooldidBAR536000
14150003Ttomovethebudgetanddidnotspendthemoneybutwasnotawarethatanadditional
BARneededtobedonetocompletelymovethatamountoutofthebudget.Theschoolwillmonitor
the budget closely to avoid this issue in the future. The business manager will post the necessary
BARsbythePEDdeadlines.
HEALTHLEADERSHIPHIGHSCHOOL
2015001CashReceipts(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Duringtestworkovercashreceiptswenotedoneinstancewherecashreceiptsexceeded$50
onSeptember23,2014,butwerenotdepositeduntilOctober28,2014.Thetotaldepositwas$430.
Vol. II - 99
STATEOFNEWMEXICO
HEALTHLEADERSHIPHIGHSCHOOL(CONTINUED)
2015001 Cash Receipts (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Condition)
Criteria:TheSchoolspolicystatesthat,whenthereceiptstotallessthan$50,theywillremaininthe
possessionofthebusinessoffice,lockedupinasafeorlockedcabinetuntilthe$50thresholdismet.A
depositwilloccuroncereceiptstotal$50oratleastonceperweek,whichevercomesfirst.
Effect:TheSchoolisnotincompliancewithitspoliciesandproceduresgoverningcashreceipts.
Cause: Procedures were not in place to enforce the Schools policies and procedures with respect to
cashreceipts.
Recommendation: Ensure deposits are made in accordance with the Schools policies and procedures
governingcashreceipts.
ManagementsResponse:TheschoolwasonanextendedFallbreakduringOctoberandthedepositwas
lockedinafireproofsafewhiletheschoolwasclosed.Managementagreeswiththisfindingandwill
ensurethatdepositstakeplacepriortotheschoolclosingforextendedbreaks.
Condition: During internal control testwork over a sample of 25 payroll transactions, we noted the
following:
FourinstanceswhereanI9waseithernotonfileorwasnotproperlycompleted.
Aninstancewhereabackgroundcheckwasnotavailableforourreview.
Criteria:BackgroundandI9formsshouldbecompletedforallindividualshiredforsensitivepositions
andinaccordancewithwrittenpoliciesandproceduresasestablishedbytheGoverningCouncil.
NMAC6.20.2.18requiresvariousemployeerecordsanddocumentationtobemaintainedandavailable
for inspection, including personnel/payroll action forms that properly document employee
compensation.
Effect: The School is not in compliance with requirements to have employee background checks
completedandtoensureproperlycompletedI9formsareobtainedforeachemployee.
Cause:TheSchoolspoliciesandproceduresarenotbeingenforced.
documents have been obtained and are complete and accurate, including benefit election forms,
compensationdocumentation,I9sandbackgroundchecks.
Vol. II - 100
STATEOFNEWMEXICO
2015002 Payroll Transactions (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
ManagementsResponse:Managementagreeswiththisfindingandhascorrectedthefilesinquestion.
Allemployeefileswillbereviewedperiodicallytoensurethatallrequireddocumentationisonfile.
2015003ProcurementCode(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:TheSchooldidnotfollowproperprocurementprocedureswhenitpurchasedacopier.The
costofthecopierwasapproximately$12,000.TheSchoolwasrequiredtoobtainthreewrittenquotes
butonlyobtainedone.
Criteria: The Schools purchasing policies and procedures require that all goods or nonprofessional
servicesfor$10,000to$20,000requirethreewrittenquotes.
Effect:TheSchoolcouldbeoverpayingforservicesand/orgoods.
Cause: Controls are not in place to ensure the Schools purchasing policies and procedures are being
followed.
Recommendation:Fortheprocurementofgoodsandnonprofessionalservicesof$10,000to$20,000,
the School should solicit no fewer than three businesses via written requests containing the
specificationsfortheprocurement.Suchprocurementdocumentationshouldbefiledandmaintained.
ManagementsResponse:Thebusinessofficeobtainedtwoquotesforthecopieranddidpurchasethe
lower price of the two. Management agrees with this finding and will ensure that purchasing policies
andproceduresarefollowed.
2015004ERBContributionsandReports(NoncomplianceinAccordancewiththeNew
MexicoStateAuditRule)
Condition: The New Mexico Educational Retirement Board (ERB) instructions for preparing the
contribution form 100 report indicates that July and August accrued payrolls, as applicable, are to be
includedintheJuneform100report.TheJune2015reportsubmittedbytheSchooldidnotincludethe
July2015accruedpayrollinformation.Further,theERBrequiresthatthecontributionscoveredbythe
report are to be transmitted no later than the 15th of the month following the month covered by the
report.ThecontributionsrelatedtotheJuly2015accruedpayrollsweretransmittedinSeptember2015.
Criteria:ERBinstructionsforpreparingcontributionform100report.
Effect:TheSchoolisnotincompliancewiththeERBrulesfortransmittingandreportingcontributions
andmaybesubjecttopenalties.
Vol. II - 101
STATEOFNEWMEXICO
2015004ERBContributionsandReports(NoncomplianceinAccordancewiththeNew
MexicoStateAuditRule)(Continued)
Cause:TheSchoolsbusinessmanagerwasunwareofthisrequirement.
Recommendation:EnsureERBcontributionsandreportsarecompletedinaccordancewiththeERBrules
andregulations.
Managements Response: Management was unclear as to the summer payroll requirements as no

summer payrolls had ever occurred at HLHS prior to July 2015. Management agrees with this finding
andwillremitsummerpayrollcontributionswiththeJunereport.
Condition:TheSchooldidnotproperlybudgetprioryearcashcarryoverinthePartnersforDeveloping
Futuresfund26208andtheMcCuneCharitableFoundationfund29114.Prioryearcashcarryoverwas
$6,724whichwasinsufficienttocoverthecurrentyearfinalbudgeteddeficitof$18,630inthePartners
forDevelopingFuturesfund.WhileTheMcCuneCharitableFoundationprioryearcashcarryoverwas
$53 which was insufficient to cover the current year final budgeted deficit of $16,865 in the McCune
CharitableFoundationfund.
Effect:TheSchoolisoutofcompliancewithNewMexicostatestatuteregardingbudgetaryinformation
andthecontrolsestablishedbytheuseofbudgetshasbeencompromised,whichresultedindeficitfund
balancesandunnecessaryusageoffundstocoverthebudgetedoverexpenditures.
Cause: The budget adjustment request did not consider prior year carryover amounts for the above
fundsandbudgetadjustmentrequestswerenotpreparedandsubmittedtoPED.
Recommendation:WerecommendthattheSchoolestablishapolicywherethebudgetisreviewedat
coversuchoverages.
Managements Response: Management understands that budget authority obtained by the PED is
adjustedbasedonthecashbalancespublishedinthefinancialstatementsfromtheprioryear.Thisyear
the audited financial statements were delayed and not available for review, however, management
closely monitors the budget and the cash position of every fund source and ensures that neither the
budget authority nor the actual unaudited cash balance is exceeded. In both instances, the McCune
FundandPartnersforDevelopingFuturesFundwerenotoverexpendedwithregardtobudget
Vol. II - 102
STATEOFNEWMEXICO
Rule)(Continued)
authorityoractualcashonhand.Therewasnofinancialriskassociatedwiththeactualmanagementof
thesefunds.
2015006 Collateral Requirements (Noncompliance in Accordance with the New Mexico State Audit
Rule)
Condition:TheSchoolsdidnothaveapledgedcollateralagreementinplaceduringfiscalyear2015.
Criteria:Section61017,NMSA1978,requirespledgedcollateralfordepositsinbanks,savingsandloan
associations,orcreditunions,inanaggregateamountequaltoonehalfoftheamountofpublicmoney
ineachaccount.NosecurityisrequiredforthedepositofpublicmoneythatisinsuredbytheFederal
DepositInsuranceCorporation(FDIC)ortheNationalCreditUnion(NCU)sharesinsurance.
Effect:OftheSchoolsbankdepositbalanceof$560,646atJune30,2015,$250,000wasinsuredbythe
FDICandtheremainingamountof$310,646wasuninsuredanduncollateralized.Section61017,NMSA
1978requiresthathalfoftheuninsuredanduncollateralizedamount,or$155,323,tobecollateralized.
Cause:Managementwasunderthebeliefthatapledgedcollateralagreementwasinplacefortheyear
endingJune30,2015.
Recommendation:Apledgedcollateralagreementshouldbeinplaceateachfinancialinstitutionused
by the School that collateralizes at least onehalf of the bank balance not already insured or
collateralized.
ManagementsResponse:Managementagreeswiththisfindingandhasapledgeagreementinplaceas
ofOctober2015.
HEALTHSCIENCESACADEMY
2015001InternalControlOverPurchasing(SignificantDeficiency)
Condition: During our testing of sixty cash disbursements we noted there were thirteen instances
(totaling $36,850.57) in which the Purchase Order was prepared subsequent to the vendors invoice
date.Wenotedtwoinstances($8,617.32and$14,350.00)wherethedisbursementswerenotpostedto
thepropergeneralledgercode.Wealsonotedtwoinstances($30,000.00and$1,760.00)wherethere
was not sufficient supporting documentation to determine if the expenditures were for the proper
amounts.
Criteria:Section NMAC 6.20.2.17(A), r e q u i r e s t h a t e ach schoolshall establish and
Vol. II - 103
STATEOFNEWMEXICO
HEALTHSCIENCESACADEMY(CONTINUED)
2015001InternalControlOverPurchasing(SignificantDeficiency)(Continued)
sufficient for ordering; that an approved Purchase Order is required per School and State guidelines.
Cash disbursements should be reviewed monthly to ensure that they were properly coded to the
generalledger.Theschoolshouldmaintainproperdocumentationonallcashdisbursements.
ManagementsResponse:TheSchoolhasceasedoperations.Managementwasnotavailabletorespond
toauditfindings.
2015002PersonnelFiles(Compliance)
Condition:Inasampleoftenpersonnelfilesselectedfortesting,thereweretwopersonnelfilesmissing
evidenceofbothabackgroundcheckandevidenceofpropercertifications.
Criteria:NMAC6.20.2.18requiresthatschoolsmaintainandhaveavailableforinspectionthefollowing
employee record documentation: employment contracts (including increments), personnel/payroll
action forms, certification records, employment eligibility verification (Federal Form I9), federal and
statewithholdingcertificates,paydeductionauthorizations,payorpositionchangenotices,Educational
RetirementActplanapplication,anddirectdepositauthorizations.
Effect:TheSchoolisnotincompliancewithNewMexicoStateStatutesinregardstoemployeerecord
documentation.
Cause:Personnelfileswerenotbeingproperlymaintained.
Recommendation:TheSchoolshouldreviewallpersonnelfilestoensurethatrequireddocumentation
requiredbyNMAC6.20.2.18isavailable.
toauditfindings.
Vol. II - 104
STATEOFNEWMEXICO
mileageatarateof$0.565centspermile.
reimbursement.
Cause:Schoolpersonnelwerenotawareofthe80%provisionoftheTravelandPerDiemAct.
vehicle.
toauditfindings.
Condition:TheSchoolhadafundwhereactualexpendituresexceededbudgetaryauthority:
InstructionalMaterials14000
$2,538

Vol. II - 105
STATEOFNEWMEXICO
HEALTHSCIENCESACADEMY(CONTINUED)
2015004BudgetaryCondition(Compliance)(Continued)
toauditfindings.
HORIZONACADEMYWEST
Condition: During our testwork over a sample of 25 payroll transactions, we noted three employees
whosebackgroundcheckwasnotonfile.
Criteria: Per NMAC 6.20.2.18 the local board shall establish written payroll policies and procedures
whichcomplywithstateandfederalregulationsonpayrollaswellasmaintainingstrictinternalcontrols,
closesupervisionandfinancialaccountinginaccordancewithGAAP.Schooldistrictsshallmaintainand
have available for inspection the following employee record documentation: employment contracts
(includingincrements),personnel/payrollactionforms,certificationrecords,andemploymenteligibility
verification.
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.18inregardstomaintainingemployeerecords
anddocumentation.
Cause:Internalcontrolswerenotinplacetoensurerequireddocumentationisobtainedandmaintained
forallemployees.
documentshavebeenobtainedandarecompleteandaccurate.TheSchoolshouldensurecontrolsare
inplacetoobtainrequiredpayrolldocumentswhenemployeesinitiallybeginemployment.
ManagementsResponse:Managementwillreviewallfilesandverifyallbackgroundchecksareonfile.
The background checks noted above have been received and placed in employee file. The office
managerwillensurethisiscompletedbyOctober2015.
2014005ViolationoftheNewMexicoAntiDonationClause(Noncompliance,OtherMatters)
Condition:TheSchoolhasenteredintoaPledgeandCovenantAgreementwithathirdpartylenderto
secure debt of a legally separate entity (the Horizon Academy Foundation, a 501(c)(3) organization).
Underthetermsofthedebtagreement,thelenderrequiredtheSchooltopledge,transfer,andgranta
securityinterestinandassigntothelenderallfunds,monies,grantsorotherdistributionsreceivedby
theSchoolfromtheStateofNewMexico.
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STATEOFNEWMEXICO
HORIZONACADEMYWEST(CONTINUED)
2014005 Violation of the New Mexico AntiDonation Clause (Noncompliance, Other

Matters)(Continued)
Furthermore,thePledgeandCovenant AgreementidentifiedthattheSchoolestablishandmaintain a
depository account with the lender into which all education funding received by the School from the
Public Education Department (including Equalization Guarantee Funding, Lease Reimbursement
Program payments, and other special funds and federal passthrough funding constituting Adjusted
PledgedRevenues)shallbedepositedinto.Thelenderisauthorizedtowithdrawfromthisaccountupon
defaultbytheHorizonAcademyFoundation.
Criteria:PursuanttoArticleIX,Section14oftheNewMexicoStateConstitution(AntiDonationClause),
neitherthestatenoranycounty,schooldistrictormunicipalityshalldirectlyorindirectlylendorpledge
itscreditormakeanydonationtoorinaidofanyperson,associationorpublicorprivatecorporation.
Effect:AstheSchoolhaspledgedrevenuestosecuredebtpaymentsonanobligationnotowedbythe
School and is in violation of state statute. As a result of this violation, the debt could be considered
invalid.
Cause: The School was unaware that the securitization of debt was a violation of state statute.
Furthermore, the School did not seek approval by the Public Education Department to ensure
compliancewithNewMexicoStateLaw.
Recommendation:WerecommendthattheSchoolseekimmediateassistancefromthePublicEducation
Department for guidance on communication between the Foundation and Lender to renegotiate the
termsofthedebtagreementtoexcludeanyfuturepledgingbytheSchool.Itisfurtherrecommended
that the revised and final debt agreement be reviewed and accepted by the Public Education
DepartmentGeneralCounseltoensurecompliancewithNewMexicoStateLaw.
ManagementsResponse:Managementdisagreeswiththisfinding.SeeresponsefromFY14audit.
AuditorRebuttal:OurdeterminationthattheSchoolviolatedtheAntiDonationClausewasbasedonthe
plainlanguageinthePledgeandCovenantAgreemententeredintobytheSchoolandtheBank.While
we did make inquiries of the New Mexico Public Education Departments (PED) legal counsel, their
responsewasonlyonecomponentinourdecisiontoincludethisasafindingandtheinclusionofthis
findingwasultimatelythedecisionoftheauditor.GenerallyAcceptedGovernmentAuditingStandards
(GAGAS) requires auditors to inquire of management and others regarding whether an entity is in
compliance with various laws and regulations applicable to the entity in addition to discussing
compliance requirements with management and its legal counsel to assist in identifying material
compliance requirements. Throughout the audit we have ensured compliance with GAGAS and the
independencestandardsandweareindependentwithrespecttotheSchoolsaudit.
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STATEOFNEWMEXICO
2015001 Disposition of property (Noncompliance in accordance with the New Mexico State Audit
Rule)
Condition:Duringfiscalyear2015,theSchooldisposedofaserverandafirewallwhichcost$1,300and
$2,650,respectively.AletterwasnotsenttotheNewMexicoOfficeoftheStateAuditortoinformthem
oftheintenttodisposeoftheequipment.
Criteria:Section2.2.2.10(T)(3)NMACRequirementsforContractingandConductingAuditsofAgencies,
requires the agency to certify in writing the proper erasure of any digital equipment with storage
capabilities, and submit the certification along with the notification of the proposed disposition of
propertytotheStateAuditoratleastthirtydayspriortotakingaction.Thisapplieseveniftheoriginal
purchasepriceofthedigitalequipmentwaslessthan$5,000.
Effect:TheSchoolisnotincompliancewithNMAC2.2.2.10(T)(3).
Cause:TheSchooldidnotfollowapplicablerequirementswhendisposingofcapitalassets.
AuditorsRecommendation:Werecommendthatinternalcontrolsbeestablishedtoensurethatcapital
assetdisposalsfollowallrequiredregulations.
ManagementsResponse:Managementwillensurethatnotificationissentgoingforward.Thebusiness
managerwillberesponsibleforthistaskandtheywillimplementcontrolsforthisprocessbyOctober
2015.
Condition:Duringourprocurementtestwork,wenotedtheSchooldidnotgoouttobidforonevendor
whoprovidedinformationtechnology(IT)services.Duringfiscalyear2015,theSchoolpaidthisvendor
$64,098.
Criteria: NMAC 6.20.2.17 PURCHASING states A. Each school district shall establish and implement
writtenpoliciesandproceduresforpurchasingwhichshallbeincompliancewiththeProcurementCode,
Section13121etseq.,NMSA1978.Purchasingpoliciesandproceduresforgrantfundingshallcomply
withrequirementsestablishedwithinthegrantandtheProcurementCode.Aninternalcontrolstructure
over purchasing shall be established and maintained to assure compliance with school district policy,
state and federal regulations. The Schools financial policies states that competitive bids must be
obtainedonarequestforproposalformandinaccordancewithNewMexicoStateStatute.Accordingto
NMSAArticleI,Section131104,Aninvitationforbidsoranoticethereofshallbepublishednotless
thantencalendardayspriortothedatesetforthfortheopeningofbids.Inthecaseofpurchasesmade
bythestatepurchasingagent,theinvitationornoticeshallbepublishedatleastonceinatleastthree
newspapers of general circulation in this state; in addition, an invitation or notice may be published
electronicallyonthestatepurchasingagent'swebsitethatismaintainedforthatpurpose.
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STATEOFNEWMEXICO
2015002 Procurement Code (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
Effect:TheSchoolcouldbeoverpayingforservicesandgoods.
Cause:TheSchooldidnotexpecttomakepurchasesoverthestateprocurementrequirement.
Recommendation:Forprofessionalservicesgreaterthan$60,000,theSchoolshouldsolicitaninvitation
forbidtocomplywithprocurementguidelines.
ManagementsResponse:Managementwillreviewpurchasesonaregularbasistoverifytheamountsto
notgooverprocurementcode.ThebusinessmanagerwillimplementthesechangesbyOctober2015.
2015003 Excess of Expenditures over Budget (Noncompliance in Accordance with the New Mexico
StateAuditRule)
authority:
$93
Effect: The Schools actual expenditures in the above function exceeded the total approved budgeted
expenditures.
expendituresexceededtheapprovedbudgetfortheSchoolsCapitalImprovementfund.
Recommendation: Budget adjustment requests should be presented and approved before expending
fundsinexcessofthebudget.Controlsshouldbeimplemented toensurethatbudgeted amountsare
compared toactualona regularbasisandthebudgeteffectivelyutilizedforcontrollingexpensesand
managingcashflow.
ManagementsResponse:Managementwillreviewbudgetonaregularbasistoensurealltherequired
BARs are created. The business manager will review the budget and ensure the required BARs are
createdstartingOctober2015.
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STATEOFNEWMEXICO
THEINTERNATIONALSCHOOLATMESADELSOL
mileageatarateoffiftysixcentspermile.Progresshasnotbeenmadeinthecurrentyear.
reimbursement.
Agency.
vehicle.
ManagementResponse:TheInternationalSchoolatMesadelSolwillstartreimbursingmileageat80%
of the IRS standard mileage rate. The business manager will be responsible for overseeing the
implementationofthispolicy.ThiswillbecompletedbyDecember31st.
J.PAULTAYLORACADEMY
2014001SupportingDocumentationRepeated(SignificantDeficiency)
Condition: In a sample of sixtysix cash disbursements selected for testing, the following item was
noted:
o For thirtyseven items totaling $82,145.40, there was no purchase order or signed
contractandnoindicationofapprovalorreviewbyanauthorizedemployee.
Duringatestoftransactionsforearmarkedorspecialdesignatedfundingwenotedthefollowing;
o TwotransactionweretestedforFund24101(TitleI).For$11,416.00ofthe$32,098.00
tested,therewasnotsufficientsupportingdocumentationtoverifythatthecostswere
allowablecostsunderTitleIregulations.
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STATEOFNEWMEXICO
J.PAULTAYLORACADEMY(CONTINUED)
2014001SupportingDocumentationRepeated(SignificantDeficiency)(Continued)
o Nineteen transaction were tested for Fund 24106 (IDEAB). For $7,840.10 of the
$39,839.00tested,therewasnotsufficientsupportingdocumentationtoverifythatthe
costswereallowablecostsunderIDEABregulations.
Therehasbeennoprogressmaderegardingthisfindingduringfiscalyear2015.
GAAP."
Effect: Unsupported cash disbursements places the school at risk for unauthorized expenditures or
fraud.
Recommendation:TheSchoolshouldputinplaceinternalcontrolssothatdocumentationforallcash
disbursements is available for examination both by school personnel and external parties such as the
auditors. Cash disbursements should be reviewed and approved by someone other than the business
manager,suchastheprincipalorthetreasurerofthegoverningcouncil.
Managements Response: The School has switched Business Managers after FY 2015. The School has
instructed the new Business Manager to keep all documentation for cash disbursements on the
premises and maintained in an orderly fashion. This policy has already been implemented by school
managementandthenewBusinessManager.
2015001SupportingDocumentation(Compliance)
Condition: In a sample of fifteen travel reimbursements selected for testing, the following item was
noted:
o Forfiveitems,totaling$2,777.99,therewasnosupportingreimbursementvoucheror
receiptsprovidedtovalidatetheamountofreimbursement.
Criteria:Per NMAC2.42.2.12ReimbursementforOtherExpenditures,paragraphB.ReceiptsRequired:
Publicofficersandemployeesmaybereimbursedforthefollowingexpensesprovidedthatreceiptsfor
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STATEOFNEWMEXICO
2015001SupportingDocumentation(Compliance)(Continued)
all such expenses are attached to the reimbursement voucher. (1) actual costs for travel by common
carrier,providedsuchtravelisaccomplishedinthemosteconomicalmannerpractical;(2)rentalcarsor
charter aircraft, provided less expensive public transportation is not available or appropriate; (3)
registrationfeesforeducationalprogramsorconferences,provided,ifthefeeincludeslodgingormeals,
thennoperdiemratesshallbepaidandonlyactualexpensespaidbytheofficeroremployeeandnot
includedinthefeeshallbereimbursedwithinthelimitsof2.42.2.9NMAC;and(4)professionalfeesor
duesthatarebeneficialtotheagencysoperationsormission.(5)Undercircumstanceswheretheloss
ofreceiptswoulddenyreimbursementandcreateahardship,anaffidavitfromtheofficeroremployee
attesting to the expenses may be substituted for actual receipts. The affidavit must accompany the
travelvoucherandincludethesignatureoftheagencyheadorgoverningboard.SeeAppendixBfora
sampleaffidavit.
Effect:Unsupportedreimbursementsplacetheschoolatriskforunauthorizedexpendituresorfraud.
Cause: School does not comply with state statutes; travel reimbursements issued without obtaining
reimbursementrequestandreceiptsforauthorizedexpenditures.
Recommendation:TheSchoolshouldputinplaceinternalcontrolssothatdocumentationforalltravel
reimbursementsaresupportedbyareimbursementvoucherwithsupportingreceiptsattachedandthat
require an authorized person to review all requests and supporting receipts to ensure employees are
reimbursedforauthorizedexpendituresonly.
Managements Response: The School has switched Business Managers after FY 2015. The School has
instructed the new Business Manager to keep all documentation for travel reimbursements on the
premises and maintained in an orderly fashion. This policy has already been implemented by school
managementandthenewBusinessManager.
Condition:WenotedtheSchoolbudgetedcashcarryoverof$46,871morethantheSchoolhadavailable
Additionally,theSchoolhadfundswhereactualexpendituresexceededbudgetaryauthority:
Operational11000
Instruction
$354
6.20.2.10.B,Schooldistrictsshallsubmitbudgetadjustmentrequestsfortheoperatingbudgettothe
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STATEOFNEWMEXICO
6.20.2.9(A)NMACand2285through22 812.2 NMSA 1978 require that budgets not be exceeded

atthelegallevelofcontrol. Forschooldistrictsthefunctionisthelegallevelofcontrol.
Auditors Recommendation: The School must be familiar with Public Education Department (PED)
requirementsand666NMSA1978andfollowtherequirementsforthebudgetarysystem.
Managements Response: Normal procedures for the school hold that BARs are presented to the
Governing Council for the purpose of matching projected cash carryover amounts to actual cash
carryoveramounts.TheseBARsarethensubmittedtotheNMPED.TheNMPEDrequiresthatallBARs
have official documentation verifying amounts of increase or decrease. Historically, the NMPED has
acceptedtheschoolsprioryearauditasverificationofcashcarryoverfigures.Tothisdate,theOfficeof
the State Auditor has not released the FY14 audit to the public and therefore could not be used as
backupforaBAR.OncetheNMPEDsauditsarebacktobeingreleasedduringanormaltimeframethe
BARprocesscanbeestablishedonceagaintoensurethatbudgetauthorityovercashcarryoveramounts
areverifiedagainstthecompletedaudit.
2015003AfterSchoolCareandEnrichmentPrograms(Compliance)(MaterialWeakness)
Condition:TheSchoolwasoperatinganafterschoolchildcareprogramthatwasnotbeingrecordedor
trackedontheSchoolsgeneralledger.
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STATEOFNEWMEXICO
2015003AfterSchoolCareandEnrichmentPrograms(Compliance)(MaterialWeakness)(Continued)
Effect: The School did not have any of this program recorded on their general ledger. Some of the
employees that were being paid out of this program did not have these wages listed as stipends or
addendumstotheirsalaryandthereforetheseamountswerenotontheirW2formattheendofthe
year.Thepurchasesoutofthisfunddidnothavethenormalprocessofreviewovercashdisbursements
like other School purchases. The school also ran an after school enrichment program that was being
capturedonthegeneralledger.However,theseemployeeswerebeingpaidoutofaseparateaccount
andtheirwageswerenotbeingpickedupontheirW2s.
Cause: The Schools previous Business Manager instructed the School to set the program up in this
manner.
Recommendation: The School must verify that all programs initiated by the School be reflected in the
generalledgerandthattheyfollowallpoliciesinplaceattheSchool.
ManagementsResponse:TheProgramwaseliminatedassoonaswebecameawareofit.Wewillmake
surethatanyprogramslikethisthatareinitiatedbytheSchoolwillbeaccountedforproperlyandall
relevantSchoolpolicieswillbefollowed.
LAACADEMIADOLORESHUERTACHARTERSCHOOL
2015001JournalEntries(SignificantDeficiency)
Condition: For two of five journal entries selected for testing, in the amounts of $6,353.68 and
$2,192.80,theschoolwasnotabletoprovidesupportingdocumentationandproofofapproval.
Criteria: Per NMAC 6.20.2.11(B), each school district shall develop, establish and maintain a
structure of internal accounting controls and written procedures to provide for segregation of
duties, a system of authorization and recording procedures, and sound accounting practices in
performanceofdutiesandfunctions. Thedutiestobesegregated aretheauthorizationtoexecutea
transaction,recordingthetransaction,andcustodyof assets involved in the transaction. Per proper
accounting practices, there should be a segregation of duties for the preparation and posting of
journal entries. In addition, all journal entries should be reviewed and approved by a designated
member of management and include proper supporting documentation. Also, all journal entries
shouldbepostedtotheappropriatefundsandshouldbeinbalance.
Effect:Lackofreviewofjournalentriesorlackofsupportingdocumentationcanleadto anincreased
risk of fraud or improper posting of journal entries. The posting of journal entries to the incorrect
fund or journal entries that do not balance can cause material misstatement to the financial
statements.TheBusinessManagercouldmakeentriesthat couldbeinappropriateandwouldnotbe
detectedorcorrected.
Vol. II - 114
STATEOFNEWMEXICO
LAACADEMIADOLORESHUERTACHARTERSCHOOL(CONTINUED)
2015001JournalEntries(SignificantDeficiency)(Continued)
Cause: The schools current Business Manager was unable to locate the supporting
documentationforthejournalentriespostedbythepriorBusinessManager.
Recommendation: Werecommend that theschoolimplement a policytoensure all journal entries

aresupportedandreviewedandapprovedbyanappropriatelevelof management.
Managements Response: The Business Manager will ensure that all journal entries have supporting
documentationandareapprovedbytheDirector.TheBusinessManagerisresponsibleforcorrectingthis
byDecember31,2015.
2015002Form1099MISC(Compliance)
Condition: The school did not maintain copies of the Forms 1099MISC that were distributed for
calendar year 2014. The auditors were unable to determine if the forms were distributed to the
properrecipientsandfortheproperamounts.
Criteria: Per the 2014 Instructions for Form 1099MISC, the form is to be filed for each person to
whom the school paid during the year of at least $600 in rents, services (including parts and
materials), prizes and awards, other income payments, medical and health care payments, crop
insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone
engaged in the trade or business of catching fish, or generally, the cash paid from a notional
principalcontracttoanindividual,partnership,orestate.
Effect: The School is out of compliance with the Internal Revenue Service Code (IRS)whichcould
resultinapenaltyunderanIRSinvestigation.
Cause:TheschoolscurrentBusinessManagerwasunabletolocatethesupportingdocumentationfor
theForms1099MISCfiledbythepriorBusinessManager.
Recommendation: We recommend the School establish a policy to ensure all required1099forms

aresubmittedtorequiredvendorsandinforthecorrectamounts.
Management Response: The Business Manager will ensure that the 1099s are issued to the
appropriatevendorsbyJanuary31,2016andthattheForm1096issubmittedtotheInternalRevenue
Service.
2015003InventoryandCapitalAssets(Compliance)
Condition:Duringourtestingofinventoryandcapitalassetswenotedthefollowing:
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STATEOFNEWMEXICO
2015003InventoryandCapitalAssets(Compliance)(Continued)
The school maintains a listing of technology assets, but does not conduct an annual
inventoryoftheseitems.Thelistingalsodoesnotincludehistoricalcostsontheseitems.
School personnel were unable to locate the schools listing of capital assets and the
associateddepreciationschedule.
Criteria: Per NMAC 6.20.2.11 (A) Internal Control Structure Standards, every school districtshall
transactions are executed in accordance with managements authorizationandrecordedproperly
to permit the preparation of general purpose financial statements in accordance with GAAP. The
practices, and policies thataffecttheorganization)andaccountingcontrols(activitycycles,financial
statement captions, accounting applications including computer systems) that are in accordance
with GAAP. Further, Per NMAC 6.20.2.22 (C) Property control system: Assets of a long term
characterwhichareintendedtocontinuetobeheldorused,suchasland(including
acquisition and improvements to grounds), buildings (including initial, acquisition, improvements,

remodeling, additions, and replacement), furniture, machinery and equipment shall be acquired
and accounted for through the development and implementation of a complete property control
system which shall be adopted by the local board and in accordance with GAAP. General services
department (GSD) rules(s), thestateProcurementCode,andanyotherapplicablestateandfederal
requirements.
Effect: Assets could be stolen without the schools knowledge. This could lead to the financial
statementsbeingmisstated.
Cause: The school was unaware of the requirement to conduct an annual inventory. The current Business
Manager could not locate the capital assets listing and depreciation schedule maintained by the former
BusinessManager.
Recommendation: We recommend the School develop and implement internal controlsoverfixed

asset inventories to ensure all assets are accounted for and physically exist. The school should
maintain a listing of its capital assets and the associated depreciation schedule. School personnel
shouldbecomefamiliarwiththerequirementsofPSABSupplement12CapitalAssets.
Managements Response: TheBusinessManagerandAssistantBusinessManagerwillconductaninventory

attheendoffiscalyear2016toensurethereisanaccuratelistingofallcapitalassets.
Vol. II - 116
STATEOFNEWMEXICO
2015004PEDCashReportsandBankReconciliationsRepeatedandModified(SignificantDeficiency)
Condition:Thefollowingitemswerenotedduringourtestingofcash:
AtJune30,2015thegeneralledgerreportsacashbalanceof$275,587.93.
AtJune30,2015thebankreconciliationsreportacashbalanceof$273,021.06.
AtJune30,2015thePEDCashReportshowsabalanceof$277,208.34.
comparisons of assets with recorded accountability, computerprogrammed controls, management
generatedreports.TheNewMexicoManualforProceduresforPublicSchoolAccountingandBudgeting
Supplement 7 Cash Controls also requires that the reports sent to the New Mexico Public Education
Department(PED)mustagreetoschooldistrictrecords.
Effect:ThePEDdoesnothaveanaccurateaccountingoftheSchool'sactivity.
Cause:TherewasatransitionofBusinessManagersattheendofthefiscalyear.Duringthistransition,
cashwasnotproperlyreconciled.
AuditorsRecommendation:We recommend that policies and procedures be implementedtoensure

that bank accounts are properly reconciled on a monthly basis and that the quarterly PED cash
reportsreconciletothegeneralledger.
ManagementsResponse:TheBusinessManagersandFinanceCommitteewillensurethatallreports
match prior to submitting them to PED. The Business Manager is responsible for correcting this by
December31,2015.
Condition:Inapayrolltestofninepersonnelfiles,onepersonnelfilewasmissingtheFormI9.
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STATEOFNEWMEXICO
2015005PersonnelFiles(Compliance)(Continued)
documentation.
Cause:SchoolpersonnelfailedtoobtainaFormI9fromtheindividualwhentheywerehired.
Recommendation: The School Should Review All Personnel Files To Ensure That Required
DocumentationRequiredByNMAC6.20.2.18IsAvailable.
Management Response: In November 2015, the Business Manager reviewed all personnel files and
verifiedtherequireddocumentswereonfile.
LAJICARITACOMMUNITYSCHOOL
2014003 Payroll and Personnel Files (Noncompliance in Accordance with the New Mexico State
AuditRule)
Condition:Duringourinternalcontroltestworkoverasampleof25payrolltransactionswenotedthe
following:
ThreeoftheemployeestestedhadmissingorincompleteI9sonfile.
TwooftheemployeestesteddidnothaveaformW4onfile.
Foroneemployeetestedabackgroundcheckcouldnotbeprovidedforourreview.
For two employees tested an employment contract could not be provided for our review.
Consequently,wewereunabletodeterminetheapprovedrateofpay.
compensation.
Pursuantto2210.3.3NMSA1978,policiesandproceduresshouldbedevelopedrequiringbackground
charterschool.
Effect:TheSchoolisnotincompliancewithitspayrollprocessingandpaymentpoliciesandprocedures
andNMAC6.20.2.18.TheSchoolisalsonotincompliancewith22103.3NMSA1978.
Cause: Adequate policies and procedures have not been developed and implemented to ensure
compliancewiththeaboverulesandregulations.
documentshavebeenobtainedandarecompleteandaccurate,includingbenefitelectionformsand
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STATEOFNEWMEXICO
LAJICARITACOMMUNITYSCHOOL(CONTINUED)
2014003 Payroll and Personnel Files (Noncompliance in Accordance with the New Mexico State
compensationdocumentation.IndividualbasecompensationshouldagreetotheLaJicaritaCommunity
SchoolSalaryScheduleapprovedbytheGoverningCouncilwithadditionalcompensation(i.e.stipends,
etc.)separatelydocumentedandapproved.
Internal controls should be developed and implemented to ensure background checks are completed
timelyandaccurately.
Managements Response: The schools Business Manager implemented a checklist to be used for the
intakeofallnewhirestoensurethatalloftheproperdocumentationisintheemployeefile.Athorough
review of all existing employee files has been completed and all required documents are now in the
employeepersonnelfiles
2015001ERBContributions(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: During the months of September through December 2014 the School reported that certain
employeeshadwagesoflessthan$20,000.Perreviewoftheseemployeescontractfileswenotedthat
theyshouldhavebeenclassifiedashavingwagesgreaterthan$20,000.
Criteria: Chapter 22, Article 11 NMSA 1978 Educational Retirement Act establishes guidelines for
contributionsandthecalculationofqualifyingwages.Furtherguidancewasprovidedinamemofrom
ERB,datedMay26,2009,thatdetailsthemethodfordeterminingifanemployeeswagesisunderor
over$20,000.
Effect:TheSchoolisnotincompliancewiththeEducationalRetirementActreferencedabove.
Cause: The School did not use the appropriate methodology for determining wages for ERB
contributionsinaccordancewithERBguidance.
Recommendation:ImplementinternalcontrolstoensuretheappropriateamountsareremittedtoERB
eachmonth.
Managements Response: The school is aware of the instance in which an employee was improperly
deductedforERB.TheschoolhiredanewBusinessManagerinJanuary2015thatdiscoveredthisissue
andcorrectedit.Inaddition,theBusinessManagerperformsadetailedmonthlyreconciliationtoensure
thatERBisbeingdeductedcorrectly.TheBusinessManagerwillensurethattheschoolisincompliance
withalllawsandguidelinespertainingtoERB.
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STATEOFNEWMEXICO
LAPROMESAEARLYLEARNINGCENTER
2014001PurchaseOrdersSubsequenttoInvoiceModifiedandRepeated(SignificantDeficiency)
Condition:Duringourtestingofsixtycashdisbursementswenotedthreechecktotaling$58,064.39in
where$8,214.61ofthePurchaseOrderswerepreparedsubsequenttothevendorsinvoicedate.No
progresswasmadeinthecurrentfiscalyear.
Criteria: Section NMAC 6.20.2.17 (A), required that each school shall establish and implement
written policies and procedures for purchasing which shall be in compliance with the
Management Response: During employee orientation for the 20152016 fiscal year, employees were
informed of our responsibility as well as their responsibility to ensure that all Purchase Orders are
createdbeforeanyorderscanbeplaced.TheBusinessManagerwillberesponsibleforensuringpolicies
areinplacebyDecember31,2015.
2015001InternalControlOverCashDisbursements(SignificantDeficiency)
Condition:Inasampleofsixtyexpenditureswenotedthefollowing:
Therewereseveninstances(totaling$112,125.72)wherethepaymentsweremadelate.Twoof
theinstancesresultedinlatefeeof$165.20.
There was one instance where the cash disbursement exceeded the attached invoices by
$788.91.
Criteria:NMAC2.42.6.20.2.11requiresthatschoolsestablishandmaintainaninternalcontrolstructure
to provide management with reasonable assurance that assets are safeguards against loss from
unauthorized use. The internal control structure shall include written administrative controls (rules,
procedures,practices,andpoliciesthataffecttheorganization)andaccountingcontrols(activitycycles,
financial statement captions, accounting applications including computer systems) that are in
accordancewithGAAP.
Vol. II - 120
STATEOFNEWMEXICO
LAPROMESAEARLYLEARNINGCENTER(CONTINUED)
2015001InternalControlOverCashDisbursements(SignificantDeficiency)(Continued)
Effect: Unsupported cash disbursements and late payments put the School at risk for unauthorized
purchases.
Recommendation: The School should follow its own internal policy. All cash disbursements should be
properlysupportedandpaidtimely.
Management Response: Unfortunately, La Promesa had experienced a cash flow problem due to the
slowreimbursementprocessforourSummerProgram,whichcoststheschoolapproximately$250,000
each year. Although we had submitted all reimbursement requests by September 30, 2014, our
reimbursements did not come in until December and January. This year we had to request a cash
advance from PED to cover these expenditures. Again, we still have not been reimbursed for our
expendituresasoftoday.
As for the payment amount over the PO, we will make sure that any additional expenditures are
reported to the business office prior to encumbering such expenses. The Business Manager will be
responsibleforensuringpoliciesareinplacebyDecember31,2015.
2015002Travel&PerDiem(Compliance)
Condition: In a sample of twelve Travel and per Diem disbursements we noted one item where a Per
Diemreimbursementwasoverpaidby$2.50.
Criteria: Inregardstothepartialdayperdiemrates,perNMAC2.42.2.8B(3)providesthatonthe last

day of travel when overnight lodging is no longer required, partial day reimbursement shall be
made.Tocalculatethenumberofhoursinthepartialday,begin with the time the traveler initially
departed.Dividethenumberofhourstraveledby24. Thehoursremainingconstitutethepartialday
whichshallbereimbursedasfollows:
(a) Forlessthan2hours,none;
(b) For2hours,butlessthan6hours,$12.00;
(c) For6hoursormore,butlessthan12hours,$20.00
(d) For12hoursormore$30.00
Effect: Theschoolcouldbeinviolationoftheantidonationrulesandcouldbepayingfor coststhat

arenotconsideredallowable.TheschoolisinviolationoftheNMAC.
Cause: The School did not verify the correct partial day per diem reimbursement rate prior to
reimbursingtheemployee.
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STATEOFNEWMEXICO
LAPROMESAEARLYLEARNINGCENTER(CONTINUED)
2015002Travel&PerDiem(Compliance)(Continued)
Recommendation: We recommend that the school put procedures in place to be aware of the
currentperdiemavailableperNMAC.
ManagementResponse: All Per Diem expenditures will be reviewed by both the Business
Manager and the Business Office Assistant to ensure that all costs are aligned to the
State Per Diem rates. TheBusinessManagerwillberesponsibleforensuringpoliciesareinplace
byDecember31,2015.
LARESOLANALEADERSHIPACADEMY
Condition:TheSchoolhadfundswhereactualexpendituresexceededbudgetaryauthority:
FoodServiceOperations21000
$14,037
Teacher&SchoolLeaderIncentivePay27188
$3,800
Teacher&SchoolLeaderIncentivePayGroup27190 $797
AuditorsRecommendation:The School should establish a policy of budgetary review atyearendand

makethenecessarybudgetaryadjustments.
Managements Response: The school has procedures in place to review the budget at year end to
makesureallBARsaresubmittedinatimelymanner.Thebusinessmanagerwillberesponsiblefor
the review of the budgets. The final budget adjustment request will be completed prior to PED
requireddeadline.
2015002PurchaseOrders(SignificantDeficiencyandCompliance)
Condition:Duringourtestingoffortycashdisbursementswenotedthefollowing:
Vol. II - 122
STATEOFNEWMEXICO
LARESOLANALEADERSHIPACADEMY(CONTINUED)
2015002PurchaseOrders(SignificantDeficiencyandCompliance)(Continued)
There were twelve instances ($1,000.00, $440.20, $1,600.00, $2,400.00, $909.50, $235.71, $1,888.55,
$267.50,$1,950.00,$1,012.50,$3,000.00,and$285.00)wherethepurchaseorderwasdatedafterthe
invoicedate.
ManagementResponse:Theschoolhasinternalcontrolproceduresestablished.Theseprocedureswill
beemphasizedwithstaff.AnapprovedPurchaseOrderwillbeinplacebeforeplacinganorderwitha
vendor.ThebusinessmanagerwillreviewtheseprocedureswithstaffbyDecember31st.
THEMASTERSPROGRAM
2014001Mileage&TravelReimbursementsModifiedandRepeated(Compliance)
Condition:FortheyearendedJune30,2015wetestedeighttravelreimbursementsanditwasnoted
that the School reimbursed employees at a mileage rate of fifty six cents per mile. In addition three
expensereportreimbursementsformealsexceededallowableperdiemratesbyatotalof$9.99.
inaprivatelyownedvehicle.NMAC2.42.2.8(B)(3)statesperdiemratecomputationstobepaidto
publicofficersandemployees.Also,ActualexpensesformealsarelimitedbySection1084(K)(2)NMSA
Vol. II - 123
STATEOFNEWMEXICO
THEMASTERSPROGRAM(CONTINUED)
2014001Mileage&TravelReimbursementsModifiedandRepeated(Compliance)(Continued)
1978(1995Repl.Pamp.)toamaximumof$30.00forinstatetraveland$45.00foroutofstatetravel
fora24hourperiod.
Effect:TheSchoolisnotincompliancewithNew MexicoStateStatutesinregardstomileageandper
diemreimbursements.
Cause:TheSchoolhasreceivedconflictinginformationonwhatthecorrectmileagereimbursementrate
is. The New Mexico Public Education Department (PED) has indicated to the auditors that charter
schools chartered under PED are a component unit of PED and should reimburse mileage at the rate
approvedforaStateAgency.
vehicle.Reimbursementsofactualmealsshouldbelimitedtoamaximumof$30.00forinstatetravel
and$45.00foroutofstatetravelfora24hourperiod.
Managements Response: Management is in complete agreement and has changed its policy
accordingly.TheGoverningCouncilapprovedthechangeforfiscalyear2016.
2014002ProcurementDocumentationModifiedandRepeated(SignificantDeficiency)
Condition:Duringourtestworkofsixtycashdisbursementsthefollowingitemswerenoted:
There were two disbursements (totaling $2,304.39 and $690.00) where the purchase
requisitionswerenotattached.
There were six purchase orders ($1,551.50, $677.28, $164.61, $1,702.46, $133.50, and
$2,500.00)whichwerepreparedsubsequenttothevendorsinvoicedate.
Vol. II - 124
STATEOFNEWMEXICO
2014002ProcurementDocumentation(SignificantDeficiency)(Continued)
Recommendation:TheSchoolshouldmaintainsupportingdocumentationforallcashdisbursements.All
Schoolpersonnelshould beremindedthatinitiationofapurchaseorderisnotsufficientforordering;
thatanapprovedPurchaseOrderisrequiredperSchoolandStateguidelines.
ManagementsResponse:Managementacknowledgesthattheexecutionofadulyauthorizedpurchase
order must precede the placement of any order for goods, services or construction, our policies
conformtothisrequirement,andemployeesarerequiredtosigntheiracknowledgementofthispolicy.
Wewillcontinuetoremindthem.TheBusinessOfficewillmakeeveryreasonableefforttoissueaPO
whenever the suspicion of an expenditure is looming. Management will review these policies with
employees.ThiswillbecompletedbyDecember31st.
Condition: In a payroll test of ten personnel files, one personnel file was missing the Form I9 and
anotherpersonnelfiledidnotcontainevidenceofabackgroundcheck.
documentation.
Cause:Schoolpersonnel failedtoobtainaFormI9fromtheindividualwhentheywere hired.There

wasalsoafailuretogetabackgroundcheckonanindividual.
ManagementsResponse:Theonlyemployeeinthesamplewithoutabackgroundcheckisaparttime
dataentryclerkwhodoesnotworkdirectlywithstudentsandthushasnotbeenrequiredtoobtaina
background check. We have reviewed our files for completeness, and those where an I9 was not
obtainedwhentheemployeewashiredwillalways,foreverbeoutofcompliance.WecangettheI9
(andhavedoneso),butwecannotmakeithappenconcurrentwithaprevioushire.Managementhas
reviewedallpersonnelfilesfortherequiredbackgroundchecksandFormI9s.
Vol. II - 125
STATEOFNEWMEXICO
2015001JournalEntrySupportingDocumentation(Compliance)
Condition: One of two journal entries selected for testing did not have documentation attached to
supportthejournalentrymade.
GAAP."
Effect:TheSchoolcouldhavemiscodedanexpendituretotheincorrectbudgetfunction.
Cause:Schoolpersonneldidnotmaintainthesupportingdocumentationforthegivenjournalentry.
auditors.
Managements Response: Management is in the process of establishing procedures for journal entry
documentation.TheseprocedureswillbedocumentedandcompletedbyDecember31st.
MCCURDYCHARTERSCHOOL
2014003 Noncompliance with cash deposit requirements Noncompliance in Accordance withthe

NewMexicoStateAuditRule(Compliance)
Condition:For1ofthe5cashreceiptstestedtotaling$2,909,itwasnotedthatdepositoffunds intoa
financialinstitutionwasnotcompletedwithin24hours.
Criteria:Cashreceiptsshallbedepositedintoafinancialinstitutionwithin24hoursofreceipt
Cause: The School did not have a systematic process in place to be in compliance with this
requirement.
Effect: Public monies are susceptible to theft or misappropriation if not deposited in a timely
manner.
Vol. II - 126
STATEOFNEWMEXICO
MCCURDYCHARTERSCHOOL(CONTINUED)
2014003 Noncompliance with cash deposit requirements Noncompliance in Accordance withthe

NewMexicoStateAuditRule(Compliance)(Continued)
Recommendation: We recommend that the School augment their internal policy to comply with
state statutes, specifically regarding the deposit of cash receipts into a financial institutionwithin24
hoursofreceipt,andfollowtheaforementionedpolicygoingforward.
Managements Response: The school has a policy for 24 hour deposits. The director and business
managercontinuetoreinforcetrainingandpolicytothestafftoensurethattheschoolfollowstheState
regulations.
2014006 Compliance with pledged collateral requirements Noncompliance in Accordance with

theNewMexicoStateAuditRule(SignificantDeficiency)
Condition:TheSchoolsbankaccountwasnotinitiallysetupasapublicaccountand,therefore, cash
balanceswerenotcoveredbypledgedcollateral.
Criteria: Article 10 of Chapter 6 of NMSA requires government entities to ensure that deposits of
publicmoneyareproperlycollateralized.
Cause: The Schools bank account was not set up properly from the beginning, so the financial
institution did not provide the school with the proper collateralization for its deposits. In
addition,theSchoolmanagementdidnotproperlymonitorthisrequirementtobecome compliant.
Effect:TheSchoolsassetscouldbeexposedtocustodialcreditriskatcertainpointsduringthe year.
Recommendation: It appears as though the bank accounts were converted to public accounts,butnot
untilJune2015. Duringfiscalyear2015,cashbalanceswereuncollateralized.
ManagementsResponse:Duringprioryearaudit(FY14)itcametotheattentionofthenewbusiness
managementteamthattheschooldidnothaveapublicaccountasrequiredbyStatelaw.Theschool
immediatelystartedworkingwiththebanktoconverttheaccountassoonastheybecameaware.
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STATEOFNEWMEXICO
MCCURDYCHARTERSCHOOL(CONTINUED)
2014007 Expenditures in excess of budgeted amounts Noncompliance in Accordance with theNew

MexicoStateAuditRule(Compliance)
Condition:Expendituresexceededtheamountbudgetedforthefollowingfunds:
21000FoodServices
$ 48,264
24106IDEABEntitlement
Instruction18,550
24146CharterSchools
Instruction144
31700SB9CapitalImprovements
Instruction
703
Totalfundswithoverexpenditures
$67,661
Criteria: Pursuant to Chapter 6, Article 3 of NMSA 1978, expenditures may not exceed budgeted
amounts.
Cause: The School did not have adequate controls in place over expenditures during the year andthe
budgetwasnotmonitoredadequatelytopreventsuchoverexpenditures.
Effect: The School has put itself in a negative financial position by over expending public monies and
continuestooperateatadeficit.
Recommendation: We recommend that the budget process be monitored more closely on a go

forwardbasistopreventfuturenoncompliance.
ManagementsResponse:Thebusinessmanagerwillmonitorthebudgetonaroutinebasis.Theschool
wasintheprocessofcorrectionsfrompriorbusinessofficeadministrationandwasworkingwithintwo
databasesthatmadeitdifficulttomonitorthebudgetsasroutine.
MEDIAARTCOLLABORATIVECHARTERSCHOOL
mileage at a rate of fiftysix and onehalf cents per mile. Of the 9 travel items tested that included
mileage reimbursements, 78% reimbursed a rate higher than the current statutory rate. Of these 9
items, the total excess reimbursed was $190.44. However, auditor did note that all mileage
reimbursementspaidafterMay2015,themonththeschoollearneditwasusingtheincorrectmileage
reimbursementamount,werepaidIAWstatestatute.
Vol. II - 128
STATEOFNEWMEXICO
MEDIAARTCOLLABORATIVECHARTERSCHOOL(CONTINUED)
reimbursement.
Agency.
vehicle.
ManagementsResponse:Theschoolhasamendeditpoliciestoreflectmileagereimbursementsatthe
required80%rate.
MISSIONACHIEVEMENTANDSUCCESS
2014001PurchaseOrderSubsequenttoInvoice(SignificantDeficiency)
Condition:Duringourtestingofsixtycashdisbursements,therewasoneinstanceof$15,062.0inwhich
thePurchaseOrderwaspreparedsubsequenttothevendorsinvoicedate.Noprogresshasbeenmade
inthecurrentyear.
Vol. II - 129
STATEOFNEWMEXICO
MISSIONACHIEVEMENTANDSUCCESS(CONTINUED)
2014001PurchaseOrderSubsequenttoInvoice(SignificantDeficiency)(Continued)
ManagementsResponse:Theschoolhasinternalcontrolproceduresestablished.Theseprocedureswill
be emphasized with staff. Staff must receive an approved Purchase Order before they place an order
with a vendor. The business manager and Principal will be responsible for training the staff in these
procedures.WeanticipatethistrainingwillbecompletedbyDecember31st.
mileageatarateoffiftyfivecentspermile.
reimbursement.
Agency.
vehicle.
ManagementsResponse:MissionAchievementandSuccessCharterSchooldisputesthisfinding.In
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STATEOFNEWMEXICO
March,2010 theFinance DirectorattheschoolreceivedadeterminationfromtheOffice oftheState

Auditor after posing the question: There is one question that I have regarding the mileage
reimbursementrate:Whena charterschoolisauthorizedbythePublicEducationCommission,isthe
schoolconsideredastateagencyoralocalpublicbody?Theiransweris:Regardlessofwhochartered
theschool,charterschoolsfallunderthedefinitionoflocalpublicbodies.
The New Mexico Administrative Code, 2.42.2.11 (D) states: Local Public Bodies: Public officers and
employees of local public bodies may be reimbursed for mileage accrued in the use of a private
conveyanceinthedischargeofofficialduties,atthestatutoryratesunlesssuchrateshavebeenreduced
bythegoverningbodiesofthelocalpublicbodypursuanttoSection10.8.5(D)NMSA1978.Thatstatute
states,inregardstolocalpublicbodies:Thegoverningbodyofanylocalpublicbodymayeliminateor
may reduce the rates set for the per diem and mileage for all or any class of public officials and
employeesofthelocalpublicbodyatanytimethelocalpublicbodydeemsittobeinthepublicinterest,
andsuchreductionshallnotbeconstruedtopermitpaymentofanyothercompensation,perquisiteor
allowance.Thelocalpublicbodyshallexercisethispowerofreductioninareasonablemannerandshall
attempt to achieve a standard rate for all public officers and employees of the same
classification. Based on the statute and regulation noted above, the statutory rate for local public
bodiesis100%oftheIRSrateunlessthegoverningbodyofthelocalpublicbodyreducesoreliminates
thatrate.TheGoverningBoardofMissionAchievementandSuccessCharterSchoolhasnotreducedor
eliminated that rate. Therefore, Mission Achievement and Success Charter School is allowed to
reimburse100%oftheIRSmileagerate.
mileagerate.
2015001CashReconciliations(SignificantDeficiency)
Condition:FortheyearendedJune30,2015,thefollowingitemswerenotedduringourtestingofcash:
AtJune30,2015thegeneralledgerreportsacashbalanceof$528,853
AtJune30,2015thebankreconciliationreportsacashbalanceof$528,998
AtJune30,2015thePEDCashReportshowsabalanceof$527,628
comparisonsofassetswithrecordedaccountability,computerprogrammedcontrols,management
Vol. II - 131
STATEOFNEWMEXICO
2015001CashReconciliations(SignificantDeficiency)(Continued)
generatedreports.
Effect:ThePEDdoesnothaveanaccurateaccountingoftheSchoolsactivity.
Cause:Schoolpersonnelknowtherearevariances,buthavenotbeenabletoidentifyandcorrectthe
variances.
Recommendation:Werecommendthatpoliciesandproceduresbeimplementedtoensurethatbank
accountsareproperlyreconciledonamonthlybasisandthatthequarterlyPEDcashreportsreconcileto
thegeneralledger.
ManagementsResponse:Theschoolhaspoliciesandproceduresinplacetoensurethatbankaccounts
areproperlyreconciled.DuetoapayrollliabilitychangeafterthePEDcashreportwascompletedthis
causedadifferenceinthebankbalances.ThebankiscurrentlyreconciledwiththeGeneralLedgerand
allreportssubmittedtoPEDandtheschoolsgoverningcouncil.Thebusinessmanagerwillmonitorthe
proceduresusedforcashreconciliations.
NEWAMERICASCHOOL
Rule)
Condition: During our internal control test work over a sample of 25 disbursements and 5 travel
expenditures,wenotedtheSchoolisnotfollowingtheirPCardpolicyasapprovalisnotobtainedprior
toincurringpurchasesonthecard.
Effect:TheSchoolisnotincompliancewiththeirPCardpolicy.
Cause:TheSchooldidnotfollowtheirpoliciesandprocedures.
Vol. II - 132
STATEOFNEWMEXICO
NEWAMERICASCHOOL(CONTINUED)
Rule)(Continued)
Recommendation:EnsuretheSchoolsPcardpolicyisfollowed.
ManagementsResponse:TheSchoolisawareofthepolicyandproceduresadoptedbythegoverning
councilfortheuseofthePcard.Althoughapurchaseorderisestablishedpriortoanyactualpurchase
utilizingthe Pcardandcommunicationiskeptatalltimeswithintheadministrationand the business
office, management is in agreement that the use of the form as described in the policy is sound
procedure. The School is currently utilizing the authorization form as prescribed in policy for all
purchases along with ensuring that a purchase order is in place prior to any purchase. The principal,
business manager and assistant business manager will be responsible for implementing these policies
andwillhavetheminplaceasofSeptember2015.
2015001TravelandPerDiem(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
Condition:TheSchoolusedtheInternalRevenueService(IRS)standardratefromthepreviousyearfor
mileagereimbursements.Wereviewedonemileagereimbursementtotaling$72.71foranemployees
privatevehicleandthereimbursementwaspaidat100%oftheIRSratefromthepreviousyear.
Criteria:PerNMAC2.42.2.11mileageshouldbepaidoutforuseinaprivatevehicleat80%oftheIRS
standardratesetJanuary1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.
Effect:TheSchoolisnotincompliancewithNewMexicostatestatuteandisoverpayingemployeesfor
travelonbehalfoftheSchool.
Recommendation: The School should follow the New Mexico Per Diem and Mileage Act for local
governmentswhenpayingformileagereimbursements.
Managements Response: The School is in disagreement that it is out of compliance concerning the
mileage reimbursement rate chosen. Due to a lack of clarity and guidance from the PED, the School
adoptedapolicytopaytheIRSrateofmileageforreimbursementat100%.ItistheSchoolsbeliefthat
charterschoolsdonotfallundertheDFAruleformileagereimbursementandarenotsubjecttoonly
allowfor80%oftheIRSrate.Thecurrentpolicywasinitiallyestablishedattherecommendationofan
externalauditor.Thepolicywillnotagainbechangeduntilfurtherclarificationcanbeprovidedbythe
PED. Lastly, the Schools legal counsel reviewed the mileage policy to ensure that the school is in
compliancewithalllawsandregulations.
Vol. II - 133
STATEOFNEWMEXICO
2015001 Travel and Per Diem (Noncompliance in accordance with the New Mexico State Audit
Rule)(Continued)
Auditor Rebuttal: Our determination is the School is in violation of the New Mexico Per Diem and
Mileage Act and the School should revise their policy. All state authorized charter schools who have
used100%oftheIRSratehavebeenissuedthisfinding.
2015002Payroll(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
Condition: During our review of 25 payroll transactions, we found 2 employees where the School was
improperly calculating employee and employer taxes for certain insurance deductions. The School
treatedpretaxFICAdeductionsasposttaxFICAdeductionsforthesetwoemployees.
Criteria:PertheNMAC6.20.2.12,theSchoolDistrictshallconductindependentchecksonperformance
andpropervaluationofrecordedamounts,suchasclericalchecks,reconciliations,comparisonofassets
with recorded accountability, computer programmed controls, management review of reports that
summarizethedetailofaccountsbalancesanduserreviewofcomputergeneratedreports.TheSchool
is also required to maintain an internal control structure to demonstrate the school ability to record,
process, summarize and report financial data. In addition, the internal control structure shall
demonstratethattheschooldistrictidentifiesapplicablelawandregulations,andthatproceduresare
designed to provide reasonable assurance that the school district complies with those laws and
regulations.
Effect:TheSchoolandtheemployeespaidmoreintaxesandbenefitsthanwhatshouldhavebeenpaid.
Cause: When the deductions were entered into the payroll system, pretax FICA deductions were
enteredasposttaxFICAdeductions.
calculated.
Managements Response: The business office has reviewed all voluntary deductions of current
employees to determine the assigned designations. The accounting software has the designation of
PreTaxlistedforthedeductionsinquestion.Thebusinessofficecontactedthesoftwareadministrator
anddeterminedthatthesedeductionsshouldhavethedesignationofPreSocialwhichencompasses
FICA, Medicare, federal and state withholdings. PreTax only encompasses federal and state
withholdings. The voluntary deductions in question were corrected to the appropriate designation on
11/5/15. The business manager will be responsible for keeping these rates accurate and has
implementedthecorrectratesasofNovember2015.
Vol. II - 134
STATEOFNEWMEXICO
2015003BudgetaryConditions(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
ImprovementsFund31700.Prioryearcashcarryoverwas$116,908andtheSchoolbudgeted$123,027.
Cause: The budget adjustment request did not consider prior year carryover amounts for the SB9
coversuchoverages.
Managements Response: FY1314 marked the first year that the school received SB9 Ad Valorem
revenues. FY1415 would then be the first year the school realized a cash carryover in capital funds.
Processesduringthecourseofanormalyearholdthatprojectedcashcarryoveramountsaretruedup
withthereceiptofdraftfinancials.Beingthatdraftfinancialswerentprovideduntiltheendofthefiscal
yearduetotheinitialexternalauditorbackingoutoftheFY14audit,theschooluseditsowninternal
financial statements to true up the cash carryover amount for the Operational fund. The SB9 Fund
31700 was not included in this abnormal process. The business manager will do a final review of all
fundspriortotheendofeachfiscalyearregardlessofthestatusoftheaudittoensurethatallfunds
have correct budget authority. It is noted that even though the school had authority to expend more
thanwhatwasavailableincash,expendituresdidnotexceedrevenuesresultinginacarryoverinFY15
projected at an estimated $168k. The business manager will be responsible for this and will have it
implementedbyJuly2016.
NEWAMERICASCHOOLLASCRUCES
mileageatarateoffiftyfivetofiftysevenandonehalfcentspermile.Ofthe21travelitemstestedthat
included mileage reimbursements, 95% reimbursed a rate higher than the current statutory rate. Of
these 21 items, the total excess reimbursed was $2,469.68. There has been no progress made
regardingthisfindingduringfiscalyear2015.
Vol. II - 135
STATEOFNEWMEXICO
NEWAMERICASCHOOLLASCRUCES(CONTINUED)
reimbursement.
Agency.
vehicle.
ManagementsResponse:TheschoolisawareofthemileagerateassetforthbytheDFAat80%ofthe
IRSrateforthepreviousyear.However,thedeterminationwasmadeatonepointintimethatcharter
schoolsdonotfallunderthesamedesignationthatwouldlimitthemtothesamerateallowableasthe
DFA.Furthermore,across3differentauditorsoverthepast6yearsdifferentdeterminationshavebeen
madeconcerningtheamountthatacharterschoolshould/isallowedtopayformileagereimbursement.
Managementwilldiscusswiththeschoolsfinanceandauditcommitteesinordertodeterminewhatto
present to the governing council in full concerning school policy for mileage reimbursement going
forward.
Auditor Rebuttal: Our determination is the School is in violation of the New Mexico Per Diem and
Mileage Act and the School should revise their policy. All state authorized charter schools who have
used100%oftheIRSratehavebeenissuedthisfinding.
Condition:Duringourcashreceiptstesting,wenotedthattheschoolcouldnotprovideproofofreceipts
issuedfor$295.86ofthe$4,246.86depositstested.
Vol. II - 136
STATEOFNEWMEXICO
2014002 Timely Deposits (NonCompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
Criteria: Per NMAC 6.20.2.14.B states that the school district shall issue a factory prenumbered
receiptforallmoneyreceived.Prenumberedreceiptsaretobecontrolledandsecured.Ifareceiptis
voided,allcopiesshallbemarkedVOIDandretainedinthereceiptbook.
Cause:Thereisalackofadequatecontrolsovertheissuanceandmaintenanceofcashreceipts.
itemsrelatingtocashreceipts.
ManagementsResponse:Theschoolcurrentlyhaspoliciesandproceduresinplaceforthepurposeof
tracking all cash/revenue received and ensuring that deposits are made within the 24 hour statutory
time frame. These policies and procedures will be reviewed and reinforced with the appropriate
personnel.
Condition: The School has expenditure functions where actual expenditures exceeded budgetary
authorityforthefollowingfund:

EnglishLanguageAcquisition:
Instruction
$1,712
Criteria: Per NMAC 6.20.2.9, (A) every school district shall follow budget requirements stated in
Sections 2285 through 22812.2 NMSA 1978, and procedures of the department in preparing,
submitting, maintaining and reporting budgetary information. Budgetary control shall be at the
function level. Overexpenditure of a functionshallnotbeallowed.
Effect:TheSchoolisoutofcompliancewithNewMexicostatestatuteandthecontrol establishedby
the use of budgets has been compromised, which could result in deficit fund balances and
unnecessary usage of operating funds to coverthe overexpenditures.
Cause:Managementwasnotadequatelymonitoringactualexpenditures.
Recommendation:WerecommendtheSchoolestablishapolicyofbudgetary reviewbythegoverning
councilorfinancecommitteeattheendofeachquarterand have the governing council approve the
necessary budgetary adjustments to ensure fundsarenotoverexpended.
Vol. II - 137
STATEOFNEWMEXICO
2015001BudgetaryConditions(Compliance)(Continued)
ManagementsResponse:TheNMPEDcurrentlyhasathresholdforwhichaschoolcanactasitsown
fiduciaryagentoffederalfundawards.TheschooldoesnotcurrentlymeetthisthresholdforitsFund
24153 Title III award. The NMPED therefore requires that the school have another school act as its
fiduciaryagentforthepurposeoftheflowthroughoffunds.Thisprocesswassuccessfulandtheschool
was able to secure reimbursement through its fiduciary agent for all expenditures from this fund.
However, the NMPED does not have anything in place that allows the school to establish budget
authorityoverthesefunds.TheschoolsbusinessmanageriscurrentlyworkingwiththeNMPEDinorder
toestablishbudgetauthoritywhilestillmaintainingthecurrentflowthroughprocess.
NEWMEXICOCONNECTIONSACADEMY
Condition: For the year ended June 30, 2015, it was noted that New Mexico Connections Academy
reimbursedemployeesformileageatarateoffiftysixcentspermile.
reimbursement.
Agency.
vehicle.
schoolbutratheroneofachangeinopinionbythePublicEducationDepartmentandexternalauditors.
Previously the Public Education Department had issued a memorandum from the deputy secretary of
educationwhichstatedcharterschoolswereabletopaythemileagerateatthefullIRSrate.Prior
Vol. II - 138
STATEOFNEWMEXICO
NEWMEXICOCONNECTIONSACADEMY(CONTINUED)
auditors had given charter schools audit findings for paying at the rate suggested here. The school
followedpriorPEDandauditorinstructioninpayingtherate.ThefindingshouldbethatthePEDand
auditorsshouldbeconsistentintheinterpretationsissuedtoschools.
mileagerate.
2014003DualSignaturesonChecks(OtherMatter)
Condition: In a sample of sixty expenditures there were three instances ($4,845.04, $3,745.00, and
$3,033.83)inwhichcheckswereonlysignedbyoneauthorizedsigner.
Criteria:NMAC2.42.6.20.2.11requiresthatschoolsestablishandmaintainaninternalcontrolstructure
to provide management with reasonable assurance that assets are safeguards against loss from
unauthorized use. The internal control structure shall include written administrative controls (rules,
procedures,practices,andpoliciesthataffecttheorganization)andaccountingcontrols(activitycycles,
financial statement captions, accounting applications including computer systems) that are in
accordance with GAAP. New Mexico Connections Academy has established an internal control policy
that requires all checks of two thousand five hundred or more be signed by two authorized check
signers.
Effect: The New Mexico Connections Academy violated its own internal policy in regards to check
signing.
Cause:Asecondauthorizedchecksignerwasnotavailablewhenthecheckswerebeingprocessed.
Recommendation:TheSchoolshouldfollowitsowninternalpolicyofhavingtwoauthorizedsignerssign
allchecksoftwothousandfivehundredormoredollars.
Managements Response: The school will authorize two signors at the school site to make sure no
checksover$2,500aremailedoutwithoutdualsignatures.Areviewofthesignedchecksshouldensure
this error does not occur again. The Business Manager will ensure that two authorized signors are in
placeattheschoolsitebyDecember31,2015.
Vol. II - 139
STATEOFNEWMEXICO
2014004PurchaseOrderSubsequenttoInvoice(SignificantDeficiency)
Condition: During our testing of sixty cash disbursements, there were four instances ($1,504.12,
$407.12,$350.00,and$124.28)inwhichthePurchaseOrderwaspreparedsubsequenttothevendors
invoicedate.
Managements Response: School procedures will be emphasized to staff to ensure compliance with
school policies and procedures as well as state laws and regulations. The Business Manager will
coordinatethistraining.WeanticipatethattrainingwillbecompletedbyDecember31,2015.
Condition:Tenpersonnelfileswereexaminedinourpayrolltesting.Oneofthesefilesdidnotcontain
evidencesupportingauthorizationforpayrolldeductions.
documentation.
Cause:TheSchoolisnotreviewingthepersonnelfilesforcompliancewithStateStatutes.
Vol. II - 140
STATEOFNEWMEXICO
2015001PersonnelFiles(Compliance)(Continued)
ManagementsResponse:Theschoolhasproceduresinplacetoreviewallpersonnelfilesforcompleted
required documents for each school employee. The Business Manager will ensure that all files have
beenreviewedbyDecember31,2015.
NEWMEXICOINTERNATIONALSCHOOL
Condition: During our testwork over cash receipts we noted several instances where a deposit was in
excessof$100andperreviewofthecashreceiptsupportingdocumentationthedepositwasnotmade
within the twentyfour hour requirement. We also noted instances in which a prenumbered cash
receiptwasnotavailableforourreviewandwerethereforeunabletodetermineifthecashreceiptwas
depositedintherequiredtimeframe.
Criteria:NMAC6.20.2.14.Crequiresthatmoneyreceivedandreceiptedshallbedepositedinthebank
withintwentyfour(24)hoursoronebankingday.Ifthedistancetothebankisconsiderable,orthecash
collectionislimitedtosmallamountsand/orlowvolumeanditisimpracticaltomeetthetwentyfour
hour/onebankingdayrequirement,thelocalboardmayrequestapprovalfromthedepartmentforan
alternativeplan.
Effect: The School is not in compliance with the cash deposits compliance requirements as stated at
NMAC6.20.2.14.C.
Cause:ProcedureswerenotinplacetoensuretimelydepositofcashreceiptsinaccordancewithNMAC
6.20.2.14.C.
Recommendation:EnsuredepositsaremadeinaccordancewithNMAC6.20.2.14.C.
Managements Response: Deposits within 24 hours: as a charter school with limited staffing and
resources there are times when all office staff are busy assisting with other school duties, making it
difficulttomaketimelydeposits.EveryeffortismadetomakedepositswithintheNMACrequirements
asweunderstandnotdoingthisincreasestheriskoflossand/orfraudariskwewishtokeepatan
absoluteminimum.
Nonissuanceofacashreceipt:cashreceiptsnotdeliveredviamailintheformofcheckshadnotbeen
issuedareceipt,withtheassumptionthatcheckstreatedfraudulentlywouldbediscoveredquickly,thus
discouragingfraudinthisform.Afterourdiscussionwiththeauditors,wenowseetherisksinvolved
Vol. II - 141
STATEOFNEWMEXICO
NEWMEXICOINTERNATIONALSCHOOL(CONTINUED)
Rule)(Continued)
withallformsofcashreceipts,includingchecksnotreceivedbymailandsuchreceiptsarenowbeing
recordedinourmaillogorarebeingissuedacashreceipt.
2015001ERBContributionsandReports(NoncomplianceinAccordancewiththeNewMexicoState
AuditRule)
Condition: The New Mexico Educational Retirement Board (ERB) instructions for preparing the
contributionform100reportindicatesthatJulyandAugustaccruedpayrollsaretobeincludedinthe
June form 100 report. The June 2015 reported submitted by the school did not include the July and
August accrued payroll information. Further, the ERB requires that the contributions covered by the
report are to be transmitted no later than the 15th of the month following the month covered by the
report. The contributions related to the July and August accrued payrolls were transmitted in August
andSeptember.
Criteria:ERBinstructionsforpreparingcontributionform100report.
Effect:TheSchoolisnotincompliancewiththeERBrulesfortransmittingandreportingcontributions
andmaybesubjecttopenalties.
Cause:TheSchoolsnewbusinessmanagerwasunawareofthisrequirement.
Recommendation:EnsureERBcontributionsandreportsarecompletedinaccordancewiththeERBrules
andregulations.
ManagementsResponse:TheSchoolsbusinessmanagerhasrereadtheERBrulesforForm100andisin
the process of remedying this for fiscal year 2015 and will be following this requirement in all future
years.
NEWMEXICOSCHOOLFORTHEARTS
2015001InternalControlStructureNoncomplianceinaccordancewiththeNewMexicoStateAudit
Rule
Condition: During our internal control test work over a sample of 25 disbursements and 10 travel
expenditures we noted a hotel charge for the amount of $825.61 that did not have proper
documentationtosupportthecharge.TheSchoolsfinancedepartmentpaidoffanemailrequestfrom
theInstructionalSupportSpecialist.
Vol. II - 142
STATEOFNEWMEXICO
NEWMEXICOSCHOOLFORTHEARTS(CONTINUED)
Rule(Continued)
Criteria:NMAC6.20.2.11(A)InternalControlStructureStandards,Everyschooldistrictshallestablish
assetsaresafeguardedagainstlossfromunauthorizeduseordispositionthattransactionsareexecuted
in accordance with managements authorization and recorded properly to permit the preparation of
generalpurposefinancialstatementsinaccordancewithGAAP.
Effect:Bynotfollowingapplicableinternalcontrolprocedures,theSchoolisatriskofpayingforservices
thatarenotallowableorvalidexpenditures.SuchcontrolsshouldbefollowedthatprecludetheSchool
from paying more to a vendor than what is approved on the purchase order, making payments to a
vendor/contractor without a proper invoice (or altered invoice), or paying off a quotation. This could
result in funds being overspent and balances misstated. Also the proper maintenance of supporting
documentation relating to financial transactions is necessary to mitigate possible dual payment of
invoicesandtoresolvepossibledisputeswithvendors,etc.
Cause:TheSchooldidnotobtainallapplicableinformationregardingthehotelchargesthatoccurred.
Recommendation: Ensure the School follows internal controls over purchasing to ensure that all
purchasesareapprovedinaccordancewithSchoolpoliciesandprocedures.
Managements Response: The school received a refund from the hotel in July 2015. However, for all
futurehotelpayments,theschoolwillissueachecktotheemployeewhowillhanddelivertothehotel
forpayment.Theemployeewilltheninturnsubmitthehotelreceipttothebusinessofficeforchecks
supportingdocumentation.
Rule
Condition:Duringourtraveltestwork,wenotedthatateachertookatripwithstudentsandpaidfor
various expenses related to the trip. Receipts were turned in for all charges except for two in the
amounts of $51.21 and $16.31. As a result, the employee submitted the form Affidavit of Lost or
Unavailable Receipt. The form was completed but there was no approval by a member of the
administration.
Criteria: NMAC 2.42.2.9 (B) (3) Receipts required, Under circumstances where the loss of receipts
would create a hardship, an affidavit from the officer or employee attesting to the expenses may be
substituted for actual receipts. The affidavit must accompany the travel voucher and include the
signatureoftheagencyheadorgoverningboard.
Effect:TheschoolisnotincompliancewithNMAC2.42.2.9.
Vol. II - 143
STATEOFNEWMEXICO
NEWMEXICOSCHOOLFORTHEARTS(CONTINUED)
Rule(Continued)
Cause:TheSchoolhastheapplicableforminplaceformissingreceiptsbuttheSchoolwasnotdiligentin
obtainingapplicableapprovalforthesemissingreceipts.
Recommendation: The School should continue utilizing the existing form in place at the School. In
addition, review the form for reasonableness and make sure that it is signed off by the person
submittingtheform,andtheagencyheadoramemberofthegoverningboard.
ManagementsResponse:Althoughtheadministratorsignedthecheck,theaffidavitwasmissedinthe
process.Forallfutureoccurrencesoflostreceipts,theadministratorwillsigntheformandthebusiness
managerwillreviewtoensurecompleteness.
2015003ExcessofExpendituresoverBudget(NonComplianceinAccordancewiththeNewMexico
StateAuditRule)
authority:
PrivateDirectGrants
Instruction
$796
Effect: The School expenditures in the above function exceeded the total approved budgeted
expendituresby$796.
expendituresexceededtheapprovedbudgetfortheSchoolsPrivateGrantsfund.
Recommendation: Budget adjustment requests should be presented to and approved by PED before
expendingfundsinexcessofbudget.Controlsshouldbeimplementedtoensurethatbudgetedamounts
are compared to actual on a regular basis and the budget effectively utilized for controlling expenses
andmanagingcashflow.
Managements Response: The school currently reviews the budget balances on a monthly basis and
submitsnecessaryBARstothegovernancecouncilfortheirapproval.
Vol. II - 144
STATEOFNEWMEXICO
NORTHVALLEYACADEMY
Condition: In a sample of three travel reimbursements tested, there was one instance where an
employeewasreimbursedformileageatarateabovethosethatareestablishedbytheStateofNew
MexicoPerDiemandMileageAct.Theemployeewasreimbursedfiftysixcentspermile.Itisestimated
thattheemployeewasoverreimbursedby$18.48.
Effect: The North Valley Academy is not in compliance with New Mexico State Statutes in regards to
mileagereimbursement.
Cause:TheNorthValleyAcademycontendsthatitisaLocalPublicBodyandnotaStateAgency.Asa
LocalPublicBody,theschoolcontendsthatitmayreimbursemileageatthefullamountauthorizedby
theIRS.TheNewMexicoPublicEducationDepartment(PED)hasindicatedtotheauditorsthatcharter
schools chartered under PED are a component unit of PED and should reimburse mileage at the rate
approvedforastateagency.
vehicle.
Managements Response: North Valley Academy does not agree with PEDs classification of state
authorizedchartersasastateagency.Statutorysupporthasbeenprovidedtotheauditorstosupport
NorthValleyAcademysassertionthatacharterschoolisalocalpublicbody,whichenablestheschool
to pay up to 100% of the prior year IRS mileage rate. In order to avoid a repeat audit finding in the
future,theschoolwillreimburseitsemployeesat80%oftheinternalrevenueservicestandardmileage
ratesetJanuary1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.Thebusiness
managerwillberesponsiblefortheimplementationofthispolicy.Implementationwillbecompletedby
December31st.
mileagerate.
Vol. II - 145
STATEOFNEWMEXICO
NORTHVALLEYACADEMY(CONTINUED)
2015001ProcurementDocumentation(SignificantDeficiency)
Condition: During our testwork of sixty cash disbursements we noted three disbursements ($161.56,
$3,030.00and$4,087.55)wherethepurchaseorderwaspreparedsubsequenttothevendorsinvoice
date.
Recommendation:TheSchoolshouldmaintainsupportingdocumentationforallcashdisbursements.All
Schoolpersonnelshould beremindedthatinitiationofapurchaseorderisnotsufficientforordering;
thatanapprovedPurchaseOrderisrequiredperSchoolandStateguidelines.
ManagementsResponse:TheBusinessManagerwillreviewinternalprocedureswithallstafftoensure
that purchases do not occur prior to the issuance of a Purchase Order. This will be completed by
December31st.
2015002TimelyDeposits(Compliance)
Condition:Duringourcashreceiptstesting,weselectedfifteenactivityfunddepositsfortesting.Inthis
testingwenotedonedepositof$160.00inwhereseveraloftheindividualreceiptswerenotdeposited
withintwentyfour(24)hoursafterbeingreceived
Criteria: Per NMAC 6.20.2.14.B states that money received and receipted shall be deposited in the
Cause:Thereisalackofadequatecontrolsovercashandcashreceipts.
Vol. II - 146
STATEOFNEWMEXICO
NORTHVALLEYACADEMY(CONTINUED)
2015002TimelyDeposits(Compliance)(Continued)
itemsrelatingtocashreceiptsandensuredepositsaremadetimely.
ManagementsResponse:TheBusinessManagerwillreviewthetwentyfourhourdepositrequirements
with the appropriate personnel. In addition, a backup procedure will be established in case of an
employee absence that would prohibit funds to be deposited timely. This will be completed by
December31st.
RALPHJ.BUNCHEACADEMY
Condition:TheSchoolhadafundwhereactualexpendituresexceededbudgetaryauthority:
OperationalFundSupportServices
$42,487

Managements Response: The School has ceased operations. Management was not available to
respond.
2015002PEDCashReport(Compliance)
Condition:ANewMexicoDepartmentofPublicEducation(PED)cashreportwasnotavailableforJune
30,2015.
Criteria:AccordingtoStateregulation6.20.2.11(B)(6),NMACandRegulationSBE6,thereportssentto
the New Mexico Public Education Department (PED) must agree to the general ledger. Per the New
MexicoStateAuditRule,theauditreportofeachschooldistrictshallincludeacashreconciliation
Vol. II - 147
STATEOFNEWMEXICO
RALPHJ.BUNCHEACADEMY(CONTINUED)
2015002PEDCashReport(Compliance)(Continued)
schedulewhichreconciledthecashbalanceasoftheendofthepreviousfiscalyeartothecashbalance
attheendofthecurrentfiscalyear.
Effect:PEDmaynothaveanaccuratereflectionoftheschoolscashbalances.
Cause:TheSchoolclosedattheendoffiscalyear2014.Financialactivityinfiscalyear2015wasforthe
purposeofpayingoutliabilitiesincurreduptothetimeoftheschoolsclosure.Theschooldidnotthink
PEDcashreportswererequiredastheschoolisnowclosed.
Recommendation:TheSchoolshouldpreparePEDcashreportsorobtainwrittenpermissionfromPED
thatthecashreportsnolongerneedtobefiled.
Managements Response: The School has ceased operations. Management was not available to
respond.
REDRIVERVALLEYCHARTERSCHOOL
2015001Procurement(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:TheSchooldoesnothaveachiefprocurementofficer.
Criteria:NMSA13195.2statesOnorbeforeJanuary1,2015,thestatepurchasingagentshallestablish
a certification program for chief procurement officers that includes initial certification and
recertification every two years for all chief procurement officers. In order to be recertified, a chief
procurement officer shall pass a recertification examination approved by the secretary of general
services.
Effect:TheSchoolisnotincompliancewithNMSA13195.2.
Cause:DuetothesizeoftheSchool,itsdifficulttofindanindividualwithavailabletimetogothrough
thecertificationprocess.
Recommendation: Ensure an individual from the School or associated with the School completes the
certificationprogramforchiefprocurementofficers.
ManagementsResponse:RedRiverValleyCharterSchoolhasalreadymadearrangementsthroughits
businessmanagertocontractwithaprocurementofficer,whoisqualifiedunderthestatescertification
program for chief procurement officers, on an asneeded basis. The business manager and principal
haveresolvedthisissueasofOctober2015.
Vol. II - 148
STATEOFNEWMEXICO
REDRIVERVALLEYCHARTERSCHOOL(CONTINUED)
2015002 Payroll (Significant Deficiency, Noncompliance in Accordance with the New Mexico State
AuditRule)
Condition:Duringourtestworkoverpayrollexpenditureswefoundtwoemployeesthatwereworking
morethan25%ofafulltimeequivalent(FTE)butwerenotcontributingtotheNewMexicoEducation
RetirementBoard(NMERB).
Criteria:Employeesworkingmorethan25%ofaFTEareconsideredEducationalRetirementActcovered
employees.
Effect:TheSchoolisnotincompliancewiththeEducationalRetirementActandtheemployeesandthe
Schoolarenotmakingrequiredcontributions.
Cause:Internalcontrolswerenotinplacetoensureemployeesworkingmorethan25%ofaFTEwere
makingtherequiredcontributionstotheNMERB.
Recommendation:Implementinternalcontrolstoensureallemployeesworkingmorethan25%ofaFTE
aremakingtherequiredcontributionstotheNMERB.Whenemployeeschangetheirpercentageoftime
worked,ensurethesechangesareproperlyreflectedinthepayrollsystem.
Managements Response: The Red River Valley Charter School business manager has already
implementedchangesinthepayrollproceduresinFY16toensureallemployeesworkingmorethan25%
ofanFTEaremakingtherequiredcontributionstotheNMERB.Thebusinessmanagerhasimplemented
thesechangesasofOctober2015.
Condition:TheSchoolscashreceiptspolicystatesthepersoncollectinglunchfees(cashier)shallcount
money collected on a daily basis, prepare the cafeteria cash fund report, and submit each to the
secretary.Itgoesontostatethatthesecretaryshallverifytheamountcollectedandprepareareceipt
tothecashier.Basedonourreviewofcashreceipts,areportispreparedonadailybasis;however,the
secretarydoesnotprepareareceipttothecashierverifyingtheamountcollected.
Criteria:NMAC6.20.2statesSchooldistrictsshallestablishandmaintainacashmanagementprogram
to safeguard cash and provide prompt and accurate reporting that adheres to cash management
requirementsoftheofficeofmanagementandbudget(OMB)CircularA102,andapplicablestateand
federallawsandregulations.
Effect:TheSchoolisnotincompliancewiththeircashreceiptspolicy.
Cause:Internalpoliciesandproceduresarenotbeingfollowed.
Vol. II - 149
STATEOFNEWMEXICO
REDRIVERVALLEYCHARTERSCHOOL(CONTINUED)
Rule)(Continued)
Recommendation: Ensure that cash receipts from the lunch program are properly handled. The
secretaryshouldverifytheamountcollectedandprepareareceipttothecashier.
ManagementsResponse:RedRiverValleyCharterSchoolmanagementwillimplementproceduresfor
thehandlingofschoollunchprogramcashreceiptsandthepreparationofdailycashierlunchreceiptsby
January1,2016.TheSchoolsprincipalandofficemanagerareresponsibleforcorrectingthisfinding.
2015004AnnualInventory(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:TheSchooldidnotperformanannualinventoryofitscapitalassetsduringfiscalyear2015.
Criteria:Section12610(A)NMSA1978requireseachagencytoconductanannualphysicalinventoryof
moveablechattelsandequipmentontheinventorylistattheendofeachfiscalyear.Theagencyshall
certifythecorrectnessoftheinventoryafterthephysicalinventory.Thiscertificationshouldbeprovided
totheagencysauditors.
Effect:TheSchoolisnotincompliancewithstaterequirementsregardingcapitalassetinventory.
Cause:Internalcontrolsarenotinplacetoensureanannualinventoryisperformed.
Recommendation:Onanannualbasis,completeaninventoryoftheSchoolscapitalassets.
Managements Response: Red River Valley Charter School will conduct an inventory of the Schools
capital assets before the end of the current fiscal year. The Schools principal is responsible for
correctingthisfindingandtheSchoolexpectstohavethiscorrectedbytheendofthecurrentfiscalyear
2016.
SAGEMONTESSORICHARTERSCHOOL
2014002PersonnelFiles(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Duringourtestworkoverasampleof25payrolltransactions,wenotedthefollowing:
Fouremployeeswhosebackgroundcheckwasnotonfile.
FouremployeeswhoseI9wasnotonfile.
TwoemployeeswhoseW4wasnotonfile.
Thisfindingwasreportedin2014andtheSchoolisintheprocessofensuringallrequireddocuments
aremaintained.
Vol. II - 150
STATEOFNEWMEXICO
SAGEMONTESSORICHARTERSCHOOL(CONTINUED)
2014002 Personnel Files (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
closesupervisionandfinancialaccountinginaccordancewithGAAP.Schooldistrictsshallmaintainand
have available for inspection the following employee record documentation: employment contracts
(including increments), personnel/payroll action forms, certification records, employment eligibility
verification (federal form I9 for citizenship certification), federal and state withholding allowance
certificates, pay deduction authorizations, pay or position change notices, Educational Retirement Act
planapplication,anddirectdepositauthorizations.
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.18inregardstomaintainingemployeerecords
anddocumentation.
Cause: Internal controls were not in place to ensure required documentation is obtained and/or
maintainedforallemployees.
documentshavebeenobtainedandarecompleteandaccurate.TheSchoolshouldensurecontrolsare
inplacetoobtainrequiredpayrolldocumentswhenemployeesinitiallybeginemployment.
ManagementsResponse:Areviewofproceduresoveremployeefileswillbecompletedtoconfirmthat
eachemployeesfileiscomplete.Theadministrativestaffandbusinessmanagerwillberesponsiblefor
ensuringthatemployeefilesarecompletedandtheSchoolexpectstohavethisimplementedbyJanuary
2016.
2015001 Procurement Code and Internal Control Structure (Noncompliance in Accordance with the
Condition:Duringourinternalcontroltestworkoverasampleof25cashdisbursementswenotedthe
following:
OneinstancewheretheSchooldidnotgoouttobidfornonprofessionalservicestorentclassroom
furniture.Totalamountpaidtothevendorwas$27,067duringtheyear.
TheSchoolincurredalatefeeof$98forpayingtheirNovember2014furniturerentalinvoicelate.
Criteria: Per NMAC 6.20.2.17 each school district shall establish and implement written policies and
proceduresforpurchasingwhichshallbeincompliancewiththeProcurementCode,Section13121et
seq.,NMSA1978.Purchasingpoliciesandproceduresforgrantfundingshallcomplywithrequirements
establishedwithinthegrantandtheProcurementCode.Aninternalcontrolstructureoverpurchasing
shall be established and maintained to assure compliance with school district policy, and state and
federalregulations.NMSAArticleI,Section131104statesCentralpurchasingofficesshallsendcopies
ofthenoticeorinvitationforbidsinvolvingtheexpenditureofmorethantwentythousanddollars
Vol. II - 151
STATEOFNEWMEXICO
2015001 Procurement Code and Internal Control Structure (Noncompliance in Accordance with the
NewMexicoStateAuditRule)(Continued)
($20,000)tothosebusinessesthathavesignifiedinwritinganinterestinsubmittingbidsforparticular
categories of items of tangible personal property, construction and services and that have paid any
requiredfees.
AllfundsallocatedtotheSchoolaretobespentonallowableexpendituresinaccordancewithNMAC
6.20.2.SoundbusinesspracticesrequirethatpaymentstovendorsbemadetimelyperOMBCircularA
87, fines, penalties, damages or other settlements resulting from violations of, or failure of the
governmental unit to comply with, Federal, State, Local of Indian tribal laws and regulations are
unallowable.
Effect:TheSchoolcouldbeoverpayingforservicesand/orgoodsduetonotfollowingtheirprocurement
policiesandincurringadditionalexpensesbynotpayinginvoicesinatimelymanner.
Cause: Internal controls were not in place to ensure the Schools procurement policy was properly
followed.Regardingthelatepayment,itwasnotsubmittedtimelycausingtheSchooltoincurapenalty.
Recommendation: For nonprofessional purchases between $20,000 and $60,000, the School should
solicit no fewer than three businesses via written requests containing the specifications for the
procurement.Inaddition,implementaninternalcontrolsystemtoensurethatpaymentsareprocessed
andpaidtimely.
Managements Response: Because of the facility, the School opened a second campus for half of the
year. Additional furniture and equipment was needed because of the second campus. The school did
research on various options available to supply the second facility. The governing council was kept
informed throughout the process. Because of issues incurred with this transition the late fee was
incurred.Theschooldoeshavepoliciesandproceduresinplaceandwillensuretheygetimplemented
and that all bills get paid in a timely manner. The administrative staff and business manager will be
responsibleforfollowingprocurementproceduresandexpectthistobeimplementedbyJanuary2016.
2015002 Payroll Transactions (Significant Deficiency and NonCompliance in Accordance with the
Condition:Duringourtestworkoverasampleof25payrolltransactions,wenotedthefollowing:
Fornineemployeesreviewed,theSchoolwasimproperlycalculatingemployeeandemployertaxes
for certain insurances. The School treated employee health insurance deductions as a posttax
deductionandtreatedemployeevisionanddentaldeductionsasapretaxdeduction.
AnemployeewaspaidasaLevelIIteacherwhentheyshouldhavebeenpaidasaLevelIteacher
whichresultedina$10,417overpayment.Schoolpersonneldiscoveredthemistakeandthe
Vol. II - 152
STATEOFNEWMEXICO
2015002 Payroll Transactions (Significant Deficiency and NonCompliance in Accordance with the
employee is repaying the School for the overpayment. However, the repayment terms do not
accountforoverpaymentsrelatedtoretirementcontributions,employertaxes,etc.Inaddition,the
employeeispayingadditionaltaxesduetothiserror.
TheSchooldidnotgetapprovalforareturntoworkemployee.
closesupervisionandfinancialaccountinginaccordancewithGAAP.Toparticipateinthereturntowork
program,anapplicationmustbesubmittedandapprovedbytheNewMexicoEducationalRetirement
Board.
Effect: The School incurred unnecessary expenditures and did not follow the returntowork policy
guidelines.
Cause:TheSchoolisnottreatinginsurancedeductionsinaconsistentmannerandalsopaidoneteacher
at a higher pay level then what should have been paid. When requiring the employee to repay the
School, the School did not handle the situation correctly to ensure all overpayments were repaid.
Internalcontrolswerenotinplacetoensureapprovalwasobtainedforareturntoworkemployee.
Recommendation: Implement internal controls to ensure deductions are properly calculated and
teachers are paid at the correct level. An application, which can be obtained from the ERB website,
shouldbecompletedandapprovedpriortoemployingareturntoworkemployee.
Managements Response: A review of the correct tax withholding is currently being undertaken. Our
research indicates that without a section 125 cafeteria plan, the health insurance are post tax
deductions. This will be verified and the correct tax determination will be implemented. Processes to
review correct teacher pay and ERB status will be implemented. The business manager will be
responsibleforimplementingthecorrectdeductionsandtheSchoolplansonhavingtheminthesystem
byMarch2016.
Vol. II - 153
STATEOFNEWMEXICO
2015 003 Excess of Expenditures over Budget (NonCompliance in Accordance with the New
MexicoStateAuditRule)
Condition: The School has expenditure functions where actual expenditures exceeded budgetary
authority:
FederalCharterPlanning
Instruction
$14,851
CentralServices
$5,000
TeacherPrincipalTraining
SchoolAdministration $125
Effect: The Schools expenditures in the above functions exceeded the total approved budgeted
expenditures.
expenditures exceeded the approved budget for the Schools Federal Charter School Planning and
Teacher/PrincipalTrainingfunds.
Recommendation: Budget adjustment requests should be presented to and approved by PED before
expending funds in excess of the budget. Controls should be implemented to ensure that budgeted
amounts are compared to actual on a regular basis and the budget effectively utilized for controlling
expensesandmanagingcashflow.
ManagementsResponse:ThePublicEducationDepartment(PED)wouldnotallowtheSchooltoentera
budgetadjustmentrequest(BAR)forthefund24146sincethegranthadbeenclosed.Eventhoughthe
fundhadbeenclosed,PEDdidnotwiretheSchoolthemoneyfromrequestforreimbursements(RfR)in
thepreviousyearuntilthisfiscalyear.TheSchoolpaidtheremaininginvoicesuponreceiptofthefunds
fromtheRfRssubmittedinfiscalyear2014.TheSchooldoeshavepoliciesandproceduresinplaceand
they will be implemented. The business manager will be responsible for ensuring that the budgetary
controlsareinplaceandexpecttohavetheminplacebyJune2016.
Vol. II - 154
STATEOFNEWMEXICO
SCHOOLOFDREAMSACADEMY
2014001PerDiemandMileageAct(OtherMatter)
Condition: Through testing procedures performed, we identified the following instance of

noncompliance:
In 3 of 10 travel and per diem reimbursements tested, the employee was reimbursed at the
maximum per diem amount allowable ($30 instate, $45 outofstate), amounting to total
reimbursements of $285. The employee did not provide receipts for actual meal expenses for
reimbursement.
In 1 of 10 travel and per diem reimbursements tested, the employee was reimbursed at the
maximum allowable out ofstate rate of $45 per day, amounting to $180; however the
employeewastravelinginstate,andthereforeshouldonlyhavebeenreimbursedupto$30per
day.Theemployeedidnotprovidereceiptsforactualmealexpensesforreimbursement.
Managementhasdemonstratedalackofprogressinimplementingtheprioryearcorrectiveactionplan.
Criteria: According to NMAC 2.42.2.9(B)(2) and NMAC 2.42.2.9(B)(3) and the School of Dreams
Academys(SODA)InternalControlPoliciesmanual,receiptsmustbeprovidedformeals,andthetotal
amountperdaymustnotexceed$30forinstatetravel,and$45foroutofstatetravel.Mealsshouldbe
reimbursedbasedontheactualamountexpended,notatthedailymaximumamountprovidedforin
thePerDiemandMileageAct.
Effect:SODAisnotincompliancewiththePerDiemandMileageAct,norisSODAincompliancewithits
own Internal Control Policy manual, and may have reimbursed the employee in excess of what the
employeeactuallyexpendedformeals.
Cause:SODAdoesnothaveanadequateunderstandingofthePerDiemandMileageAct.
Recommendation: We recommend that SODA review the Per Diem and Mileage Act, and its own
internalcontrolpoliciesmanualonaregularbasistoensureemployeesunderstandandcomplywiththe
rulesandregulationsgoverningreimbursementforthesetypesofexpenditures.
Managements Response: Audit Committee reviewed and has readdressed that actual receipt to be
turnedinsothattheSchoolofDreamsAcademyisincompliancewiththePerDiemandMileageAct.
Thiswillbeincludedintheannualstaffreturntraining.ThishasbeenimplementedOctober2015.
2015001ControlsoverCashDisbursements(OtherMatter)
Condition:Throughtestingproceduresperformed,wenotedthefollowing:
In a sample of 25 disbursements tested, we noted one instance where the invoice was dated
priortothepurchaseorder.
Vol. II - 155
STATEOFNEWMEXICO
SCHOOLOFDREAMSACADEMY(CONTINUED)
2015001ControlsoverCashDisbursements(OtherMatter)(Continued)
Criteria:PerNMAC6.20.2.11InternalControlStructureStandards,everyschooldistrictshallestablish
and main an internal control structure to provide management with reasonable assurance that assets
are safeguarded against loss from unauthorized use or disposition, that transactions are executed in
accordance with managements authorization and recorded properly to permit the preparation of
generalpurposefinancialstatementsinaccordancewithGAAP.
Effect:Withoutproperapproval,purchasesforunauthorizedgoodsorservicesmayoccur.
Cause:Processesandproceduresinplacewerebypassedbythoseinvolvedinthepurchasingprocess.
Recommendation:WerecommendthatSODAdevelopandimplementinternalcontrolsoverpurchasing
procedurestoensurethatallpurchasesareapprovedinaccordancewithSODApoliciesandprocedures.
Goods and/or services should not be ordered by the Administrative Assistant or Prinicpal until all
requiredauthorizingsignaturesareobtained.
ManagementsResponse:Theauditcommitteehasreviewandwillcontinuetoimplementandimprove
procedurestoaddressthepurchaserequestbecompleted,thenthepurchaseorderbeapprovedbefore
anyservicesorgoodareordered.ThishasbeenimplementedOctober2015.
authority:
Fund
overAppropriations
TitleIIASA(24101)

SupportServicesStudents
$(500)
EarlyCollegeHighSchool

SupportServicesInstruction
$(13,038)
Cause: A budget adjustment request was not submitted to account for additional expenditures
incurred.
Vol. II - 156
STATEOFNEWMEXICO
SCHOOLOFDREAMSACADEMY(CONTINUED)
2015002ExpendituresExceedBudget(OtherMatter)(Continued)
Recommendation: We recommend that SODA establish a policy of budgetary review at yearend to

makethenecessarybudgetaryadjustments.
ManagementsResponse:Theauditcommitteehasreviewed.BARsforthiswasissuedtotheNMPED,
theapprovalprocessdidnotgetreleasedduetotheshortturnaroundtime.Thiswillbeaddressedto
setanendpurchaseordereddateinMarchtoallordersarereceivedandanytransferneededwillbe
completedinsufficienttimeforNMPED.
SOUTHWESTAERONAUTICS,MATHEMATICS,ANDSCIENCEACADEMY
2014001LackofInternalControlsoverAccountingRecords(MaterialWeakness)
Condition: In the prior year audit of the Southwest Aeronautics, Mathematics and Science Academy
(SAMS), we were unable to obtain sufficient appropriate audit evidence to perform audit procedures
overthefollowingareas:cash,accountsreceivable,capitalassets,accountspayable,accruedliabilities,
fundbalance/netassets,revenue,andexpenditures.Inthecurrentfiscalyear,theSAMShiredathird
partyconsultingfirmtoassistwiththeSAMSsdailyaccountingandalsotoresolveitsfindingrelatedto
internalcontrols.Inthecurrentyearaudit,wewereabletoobtainsufficientappropriateauditevidence
surroundingcash,accountsreceivable,accountspayable,andfundbalance/netassets.Therehasbeen
progresssurroundingtheaccountingrecordsandwewereabletoreviewtenmonthsworthofrecords
as well as account reconciliations. However, the SAMS was unable to provide supporting
documentationtosupportthereportedbalancesasawholeanditsfunds.
Duringourtestworkoverinternalcontrols,wenotedthefollowingdiscrepancies:
Management was unable to provide two of the twentynine cash disbursement transactions
selectedforsampleamountingto$901.
Managementwasunabletoprovidesixofthethirtypersonnelfilesforpaychecksamountingto
$3,717.
In two out of thirty payroll disbursements tested, the employees annual contract amount
divided by the number of installment payments did not equal the gross pay per the payroll
registerresultinginatotaldifferenceof$992.
Outstanding checks in the Schools checking account include four checks totaling $461 which
havebeenoutstandingmorethanninetydays.
TheSchoolwasunabletoprovidealistingofcapitalassets
Per our inquiry with the current business manager and correspondence with the Office of the State
Auditor (OSA) any documents that the SAMS did have were seized by the Federal Bureau of
Investigation(FBI)inAugust2014astheyareinvestigatingpotentialfraudofsubstantialpaymentsof
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2014001LackofInternalControlsoverAccountingRecords(MaterialWeakness)(Continued)
public funds to the private business of the schools previous Head Administrator. As such, we were
unabletoapplyauditproceduresandareunabletoprovideanauditopinionontheSAMS.
Criteria:Pursuantto6.20.2.11,everyschoolshallestablishandmaintainaninternalcontrolstructureto
unauthorized use or disposition, that transactions are executed in accordance with management's
in accordance with GAAP, and that state and federal programs are managed in compliance with
applicablelawsandregulations.Additionally,pursuantto6.20.2.13,theschoolshallmaintainadequate
accountingrecords,preparefinancialstatementsinaccordancewithGAAP(specifically,GASB34),and
provide complete, accurate, and timely information to the independent public accountant (IPA) as
requested.Effect:TheSAMSlackofinternalcontroloveraccountingrecordslimitsmanagementsability
tomonitortheaccuracyoftransactionsandprovideassurancewithrespecttopublicfunds.Also,when
sufficient controls are not designed, implemented and operating effectively, it increases the risk of
financialmisstatementsgoingundetectedandanincreasedriskoftheftorfraud.
Cause: The SAMS records were in disarray as the previous Head Administrator did not maintain
completeandaccuraterecords.AnydocumentationtheSAMSdidhavewereseizedbytheFBIaspart
oftheirinvestigationrelatedtothepreviousHeadAdministrator.
Recommendation: We recommend that the SAMS design and implement controls to ensure adequate
accounting records are maintained, complete, and reconciled timely in order to provide complete,
accurate,andtimelyinformationtotheIPA.Furthermore,theSAMSshouldestablishandmaintainan
internal control structure to provide management with reasonable assurance that assets are safe
guardedagainstlossfromunauthorizeduseordisposition,thattransactionsareexecutedinaccordance
withmanagement'sauthorizationandrecordedproperlytopermitthepreparationofgeneralpurpose
financial statements in accordance with GAAP, and that state and federal programs are managed in
compliancewithapplicablelawsandregulations.
ManagementsResponse:Theschoolhashiredanewadministratoralongwithnewcontractedbusiness
managers.TheNMPublicEducationDepartmenthasalsotakenovertheschoolsBoardofFinance.The
individuals assigned to work on the financial issues of the school are working together to develop an
internalcontrolenvironmentandstructurethatwillsafeguardtheassetsoftheschoolwhilemaintaining
compliancewithlegalandregulatoryrequirementsandappropriatelyrecordingandreportingfinancial
activitiesoftheschool.
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2014002StateAuditRule(NonCompliance)
Condition: As noted within finding 2014001, during our testwork over Southwest Aeronautics,
Mathematics and Science Academy (SAMS), we were unable to obtain sufficient appropriate audit
evidencetoperformauditproceduresoveraccountbalancesintheprioryearaudit.
ProcurementCode(Sections1311to131199NMSA1978)andStatePurchasingRegulations
1.4.1NMAC;
Per Diem and Mileage Act (Sections 1081 to 1088 NMSA 1978), Regulations Governing the
PerDiemandMileageAct,and2.42.2.11NMAC;
PublicMoney(Sections6101to61063NMSA1978);
PublicSchoolFinanceAct(Sections2281to22848NMSA1978);
InvestmentofPublicMoney(Sections681to6821NMSA1978);
EducationalRetirementAct(Sections22111to221155NMSA1978);
SaleofPublicProperty(Sections1361to1368NMSA1978);
AntiDonationClause(NMConstitutionArticleIX,Section14);
BudgetCompliance(Sections2285through22812.2,NMSA1978);
LeasePurchaseAgreements(NewMexicoConstitutionArticleIX,Section8and11;Sections66
11to6612NMSA1978;Montanov.Gabaldon,108NM94,766P.2d1328,1989);
RetireeHealthCareAuthorityAct(Section107C1to107C19NMSA1978);
CompliancewithPEDRegulationSection6.20.2NMAC,GoverningBudgetingandAccountingfor
NewMexicoPublicSchoolsandSchoolDistrictsandtheManualofProcedures,primarily
Supplement7,CashControls;
Inclusionofthecashreconciliationschedulewhichreconcilesthecashbalanceasoftheendof
the previous fiscal year to the cash balance as of the end of the current fiscal year (Section
2.2.2.12C(4)(b));
NewMexicoPublicSchoolsInsuranceAuthority(NMPSIA)(Section2.2.2.12C(6))
AnnualPhysicalInventory(Section12610NMSA1978)
Asmentionedintheconditionoffinding2014001,theSAMShashiredathirdpartyconsultingfirmto
assistwiththeitsdailyaccountingandresolveitsfindingrelatedtoStateAuditorcompliance.However,
wewerenotedthefollowingdeficienciesrelatedtoStateAuditorcompliancetestwork:
SAMS is not using 80 percent of the standard mileage rate causing a mileage reimbursement
excessof$48.
Managementwasunabletoprovidesufficientevidenceoftheboardsapprovedbudget.
ManagementwasunabletoprovidetwooutofthetwelveEducationalRetirementBoard(ERB)
ContributionFormstotestforcompliancewiththeNewMexicoStateAuditorRule.
Management was unable to provide three out of the twelve Retiree Health Care Act (RHCA)
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2014002StateAuditRule(NonCompliance)(Continued)
Wenotedthatinthreeoutofthirtypayrolltransactionstested,theemployeesportionoftheir
Educational Retirement Board contribution was calculated at the incorrect contribution rate
causinganoverstatementof$44.
BecausetheSchooldidnotprovidepledgedcollateraldocumentation,itappearsthattheSAMS
wasundercollateralizedby$504,335atJune30,2015.
Inthecashreceipttested,thedeposittotaling$35wasnotmadewithin twentyfourhoursof
receipt.
TheSchooldidnotperformanannualphysicalinventoryduringtheyear
Criteria:Pursuantto6.20.2.13,theschoolshallmaintainadequateaccountingrecords,preparefinancial
statementsinaccordancewithGAAP(specifically,GASB34),andprovidecomplete,accurate,andtimely
informationtotheindependentpublicaccountant(IPA)asrequested.
Effect:TheSAMSisnotincompliancewithStatelaw.
Cause: The SAMS records were in disarray as the previous Head Administrator did not maintain
completeandaccuraterecords.AnydocumentationtheSAMSdidhavewereseizedbytheFBIaspart
oftheirinvestigationrelatedtothepreviousHeadAdministrator.
Recommendation: We recommend that the SAMS design and implement controls to ensure adequate
accurate,andtimelyinformationtotheIPA.
Managements Response: The schools new administrator along with new contracted business
managers and the NM Public Education Department are working to ensure records are maintained to
documentcompliancewithlegalandregulatoryrequirementsandappropriaterecordingandreporting
of financial activities of the school. In addition, the new administration working with its governing
council and finance committee review financial activity to ensure appropriate accountability for the
schoolandmaintenanceofdocumentationtobeavailabletotheIPA.
SOUTHWESTINTERMEDIATELEARNINGCENTER
Condition:IntheprioryearauditoftheSouthwestIntermediateLearningCenter(SILC),wewereunable
to obtain sufficient appropriate audit evidence to perform audit procedures over the following areas:
cash,accountsreceivable,capitalassets,accountspayable,accruedliabilities,fundbalance/netassets,
revenue, and expenditures. In the current fiscal year, the SILC hired a third party consulting firm to
assistwiththeSILCsdailyaccountingandalsotoresolveitsfindingrelatedtointernalcontrols.Inthe
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current year audit, we were able to obtain sufficient appropriate audit evidence surrounding cash,
accounts receivable, accounts payable, and fund balance/net assets. There has been progress
surroundingtheaccountingrecordsandwewereabletoreviewtenmonthsworthofrecordsaswellas
accountreconciliations.However,theSILCwasunabletoprovidesupportingdocumentationtosupport
thereportedbalancesasawholeanditsfunds.
Managementwasunabletoprovidetwoofthethirtycashdisbursementtransactionsselected
fortestingamountingto$9,024.
Twotransactionsoutofthirtytestedamountingto$1,099,thepurchaseorderwasnotproperly
authorized,indicatingthatthepurchasewasnotproperlyapprovedbeforeitwasmade.
Managementwasunabletoprovidenineofthethirtypersonnelfilesforpaychecksamounting
to$5,988.
OutstandingchecksintheSchoolscheckingaccountincludefourcheckstotaling$1,619which
Auditor(OSA)anydocumentsthattheSILCdidhavewereseizedbytheFederalBureauofInvestigation
(FBI)inAugust2014astheyareinvestigatingpotentialfraudofsubstantialpaymentsofpublicfundsto
the private business of the schools previous Head Administrator. As such, we were unable to apply
auditproceduresandareunabletoprovideanauditopinionontheSILC.
requested.
Effect:TheSILClackofinternalcontroloveraccountingrecordslimitsmanagementsabilitytomonitor
theaccuracyoftransactionsandprovideassurancewithrespecttopublicfunds.Also,whensufficient
controls are not designed, implemented and operating effectively, it increases the risk of financial
misstatementsgoingundetectedandanincreasedriskoftheftorfraud.
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Cause:TheSILCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SILC did have were seized by the FBI as part of their
investigationrelatedtothepreviousHeadAdministrator.
Recommendation: We recommend that the SILC design and implement controls to ensure adequate
accurate, and timely information to the IPA. Furthermore, the SILC should establish and maintain an
internal control structure to provide management with reasonable assurance that assets are
safeguarded against loss from unauthorized use or disposition, that transactions are executed in
accordance with management's authorization and recorded properly to permit the preparation of
generalpurposefinancialstatementsinaccordancewithGAAP,andthatstateandfederalprogramsare
managedincompliancewithapplicablelawsandregulations.
Condition:Asnotedwithinfinding2014001,duringourtestworkoverSouthwestIntermediateLearning
Center (SILC), we were unable to obtain sufficient appropriate audit evidence to perform audit
proceduresoveraccountbalancesintheprioryearaudit.
1.4.1NMAC;
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thepreviousfiscalyeartothecashbalanceasoftheendofthecurrentfiscalyear(Section
2.2.2.12C(4)(b));
As mentioned in the condition of finding 2014001, the SILC has hired a third party consulting firm to
ManagementwasunabletoprovidethreeoutofthetwelveEducationalRetirementBoard(ERB)
Management was unable to provide two out of the twelve Retiree Health Care Act (RHCA)
Wenotedthatinelevenoutofthirtypayrolltransactionstested,theemployeesportionoftheir
Inoneoutoftwocashreceiptstested,thedeposittotaling$24wasnotmadewithintwentyfour
hoursofreceipt.
The School had $1,573 in actual expenditures in excess of budgetary authority in the capital
outlayfunctionofthePublicSchoolsCapitalOutlayfund.
BecausetheSchooldidnotprovidepledgedcollateraldocumentation,itappearsthattheSILC
Effect:TheSILCisnotincompliancewithStatelaw.
Cause:TheSILCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SILC did have were seized by the FBI as part of their
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STATEOFNEWMEXICO
Recommendation: We recommend that the SILC design and implement controls to ensure adequate
SOUTHWESTPRIMARYLEARNINGCENTER
Condition:IntheprioryearauditoftheSouthwestPrimaryLearningCenter(SPLC),wewereunableto
obtainsufficientappropriateauditevidencetoperformauditproceduresoverthefollowingareas:cash,
accounts receivable, capital assets, accounts payable, accrued liabilities, fund balance/net assets,
revenue, and expenditures. In the current fiscal year, the SPLC hired a third party consulting firm to
assistwiththeSPLCsdailyaccountingandalsotoresolveitsfindingrelatedtointernalcontrols.Inthe
account reconciliations. However, the SPLC was unable to provide supporting documentation to
supportthereportedbalancesasawholeanditsfunds.
Management was unable to provide four of the thirtythree cash disbursement transactions
selectedfortestingamountingto$11,227.
Onetransactionoutofthirtythreedisbursementstestedamountingto$53,thepurchaseorder
wasdatedsubsequenttothevendorinvoice.
Managementwasunabletoprovidetwoofthethirtypersonnelfilesforpaychecksamounting
to$1,483.
In one out of thirty payroll disbursement transactions tested, the employees annual contract
wasnotsignedbytheHeadAdministrator.
Outstanding checks in the Schools checking account include five checks totaling $1,929 which
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Auditor(OSA)anydocumentsthattheSPLCdidhavewereseizedbytheFederalBureauofInvestigation
auditproceduresandareunabletoprovideanauditopinionontheSPLC.
requested.Effect:TheSPLClackofinternalcontroloveraccountingrecordslimitsmanagementsability
tomonitortheaccuracyoftransactionsandprovideassurancewithrespecttopublicfunds.Also,when
sufficient controls are not designed, implemented and operating effectively, it increases the risk of
financialmisstatementsgoingundetectedandanincreasedriskoftheftorfraud.
Cause:TheSPLCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SPLC did have were seized by the FBI as part of their
Recommendation: We recommend that the SPLC design and implement controls to ensure adequate
accurate,andtimelyinformationto theIPA. Furthermore,theSPLCshouldestablishandmaintainan
withmanagement'sauthorizationandrecordedproperlytopermitthepreparationofgeneralpurpose
financial statements in accordance with GAAP, and that state and federal programs are managed in
compliancewithapplicablelawsandregulations.
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STATEOFNEWMEXICO
Condition: As noted within finding 2014001, during our testwork over Southwest Primary Learning
Center
(SPLC), we were unable to obtain sufficient appropriate audit evidence to perform audit procedures
overaccountbalancesintheprioryearaudit.
1.4.1NMAC;
the previous fiscal year to the cash balance as of the end of the current fiscal year (Section
2.2.2.12C(4)(b));
Asmentionedintheconditionoffinding2014001,theSPLChashiredathirdpartyconsultingfirmto
ManagementwasunabletoprovidethreeoutofthetwelveEducationalRetirementBoard(ERB)
Management was unable to provide two out of the twelve Retiree Health Care Act (RHCA)
Wenotedthatineightoutofthirtypayrolltransactionstested,theemployeesportionoftheir
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STATEOFNEWMEXICO
BecausetheSchooldidnotprovidepledgedcollateraldocumentation,itappearsthattheSPLC
Inoneoutoftwocashreceiptstested,thedeposittotaling$40wasnotmadewithintwentyfour
hoursofreceipt.
Effect:TheSPLCisnotincompliancewithStatelaw.
Cause:TheSPLCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SPLC did have were seized by the FBI as part of their
Recommendation: We recommend that the SPLC design and implement controls to ensure adequate
SOUTHWESTSECONDARYLEARNINGCENTER
Condition:IntheprioryearauditoftheSouthwestSecondaryLearningCenter(SSLC),wewereunableto
obtainsufficientappropriateauditevidencetoperformauditproceduresoverthefollowingareas:cash,
accounts receivable, capital assets, accounts payable, accrued liabilities, fund balance/net assets,
revenue, and expenditures. In the current fiscal year, the SSLC hired a third party consulting firm to
assistwiththeSSLCsdailyaccountingandalsotoresolveitsfindingrelatedtointernalcontrols.Inthe
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SOUTHWESTSECONDARYLEARNINGCENTER(CONTINUED)
accountreconciliations.However,theSSLCwasunabletoprovidesupportingdocumentationtosupport
thereportedbalancesasawholeanditsfunds.
Managementwasunabletoprovidethreeoftwentysevencashdisbursementtransactionsselectedfor
testingamountingto$5,088.
Managementwasunabletoprovidesixoftwentyninepersonnelfilesforpaychecksamounting
to$6,206.
Outstanding checks in the Schools checking account include three checks totaling $11,273
whichhavebeenoutstandingmorethanninetydays.
Auditor(OSA)anydocumentsthattheSSLCdidhavewereseizedbytheFederalBureauofInvestigation
auditproceduresandareunabletoprovideanauditopinionontheSSLC.
requested.
Effect:TheSSLClackofinternalcontroloveraccountingrecordslimitsmanagementsabilitytomonitor
theaccuracyoftransactionsandprovideassurancewithrespecttopublicfunds.Also,whensufficient
controls are not designed, implemented and operating effectively, it increases the risk of financial
misstatementsgoingundetectedandanincreasedriskoftheftorfraud.
Cause:TheSSLCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SSLC did have were seized by the FBI as part of their
Recommendation: We recommend that the SSLC design and implement controls to ensure adequate
accurate, and timely information to the IPA. Furthermore, the SSLC should establish and maintain an
internal control structure to provide management with reasonable assurance that assets are
safeguardedagainstlossfromunauthorizeduseordisposition,thattransactionsareexecutedin
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STATEOFNEWMEXICO
accordance with management's authorization and recorded properly to permit the preparation of
generalpurposefinancialstatementsinaccordancewithGAAP,andthatstateandfederalprogramsare
managedincompliancewithapplicablelawsandregulations.
Managemenst Response: The school has hired a new administrator along with new contracted
business managers. The NM Public Education Department has also taken over the schools Board of
Finance.Theindividualsassignedtoworkonthefinancialissuesoftheschoolareworkingtogetherto
developaninternalcontrolenvironmentandstructurethatwillsafeguardtheassetsoftheschoolwhile
maintaining compliance with legal and regulatory requirements and appropriately recording and
reportingfinancialactivitiesoftheschool.
Condition: As noted within finding 2014001, during our testwork over Southwest Secondary Learning
Center (SSLC), we were unable to obtain sufficient appropriate audit evidence to perform audit
proceduresoveraccountbalancesintheprioryearaudit.
1.4.1NMAC;
New Mexico Public Schools and School Districts and the Manual of Procedures, primarily
thepreviousfiscalyeartothecashbalanceasoftheendofthecurrentfiscalyear(Section
2.2.2.12C(4)(b));
AnnualPhysical
Inventory(Section12610NMSA1978)
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STATEOFNEWMEXICO
Asmentionedintheconditionoffinding2014001,theSSLChashiredathirdpartyconsultingfirmto
ManagementwasunabletoprovidetwooutofthetwelveEducationalRetirementBoard(ERB)
Management was unable to provide one out of the twelve Retiree Health Care Act (RHCA)
Wenotedthatintwooutoftwentyninepayrolltransactionstested,theemployeesportionof
their Educational Retirement Board contribution was calculated at the incorrect contribution
rate.Thenetdifferenceofthetwoitemswas$0.
Intheonecashreceipttested,thedeposittotaling$45wasnotmadewithintwentyfourhours
ofreceipt.
The School had $3,838 in actual expenditures in excess of budgetary authority in the capital
outlayfunctionofthePublicSchoolsCapitalOutlayfund.
BecausetheSchooldidnotprovidepledgedcollateraldocumentation,itappearsthattheSSLC
SSLC is not using 80 percent of the standard mileage rate causing a mileage reimbursement
excessof$70.
Effect:TheSSLCisnotincompliancewithStatelaw.
Cause:TheSSLCrecordswereindisarrayasthepreviousHeadAdministratordidnotmaintaincomplete
and accurate records. Any documentation the SSLC did have were seized by the FBI as part of their
Recommendation: We recommend that the SSLC design and implement controls to ensure adequate
offinancialactivitiesoftheschool.Inaddition,thenewadministrationworkingwithitsgoverning
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TAOSACADEMY
Condition:TheSchooldidnotfollowproperprocurementprocedureswhenobtainingvendorstoinstall
a basketball court and artificial turf for the School. The total estimated cost was $25,613 for the
basketball court and $34,833 for the artificial turf. The School obtained quotes by making phone calls
ratherthansendingwrittenrequestscontainingthespecificationsfortheprocurement.Thisfindingwas
reportedinthe2014auditandtheSchoolstartedtakingcorrectivemeasuresonceitwasreportedto
theminMay2015.
Criteria:PerNMAC6.20.2.17PURCHASING:A.Eachschooldistrictshallestablishandimplementwritten
13121 et seq., NMSA 1978. Purchasing policies and procedures for grant funding shall comply with
requirementsestablishedwithinthegrantandtheProcurementCode.Aninternalcontrolstructureover
purchasing shall be established and maintained to assure compliance with school district policy, state
and federal regulations. NMSA Article I, Section 131104 states central purchasing offices shall send
copies of the notice or invitation for bids involving the expenditure of more than twenty thousand
dollars ($20,000) to those businesses that have signified in writing an interest in submitting bids for
particularcategoriesofitemsoftangiblepersonalpropertyandconstructionservices.
Effect:TheSchoolcouldbeoverpayingforservicesand/orgoods.
Cause:LackofproperinternalcontrolsandpoliciesinplacetoensuretheSchoolfollowsprocurement
guidelineswhenobtainingavendorforconstructionservicesandtangiblepersonalproperty.
Recommendation: For construction and tangible personal property purchases between $20,000 and
$60,000,theSchoolshouldsolicitbusinessesviawrittenrequestscontaining thespecificationsforthe
procurement. In addition, the School should improve their policies and procedures to more clearly
definetherequirementsandthresholds.
Managements Response: Our prior year response to this finding was the School did receive three
writtenbidsforservices,however,aformalrequestwasnotsenttothosethatbid.Inthefuture,ifthe
Schoolshallseekbidsforconstruction,specificationswillbeusedforthepurposeofsolicitingbids.
TheSchoolwasworkingonafewprojectsduringthesummerbetweenFY14andFY15.Thisfindingwas
prior to the audit of FY14. After the audit of FY14, the School implemented procedures to be in
compliancewithstaterequirements.TaosAcademyGoverningCouncilwillalsoworkonupdatingthe
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2014001 Procurement Code (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
procurement policy in FY2016 to ensure a better understanding of the process. The director and
business manager will immediately revise their procedures to be in compliance. The School plans to
haveanupdatedprocurementpolicybyspringof2016.
2015001TimelyDeposits(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
Condition:Duringtestworkovercashreceipts,wenotedonedeposittotaling$410collectedonJanuary
13,2015.ThesefundswerenotdepositedinthebankuntilJanuary15,2015.
Criteria:NMAC6.20.2.14.CstatesMoneyreceivedandreceiptedshallbedepositedinthebankwithin
Effect: The School is not in compliance with the cash deposit compliance requirements as stated at
NMAC6.20.2.14.C.
Cause:Cashdepositswerenottakentothebankwithina24hourperiodduetoavailablestaffing.
Recommendation:EnsuredepositsaremadeinaccordancewithNMAC6.20.2.14.C.
ManagementsResponse:TheBusinessManagerandDirectorcontinuetoeducateandremindthestaff
on proper procedures for timely deposits. Taos Academy policy states that deposits are to be made
within24hours.Thedirectorandbusinessmanagerwillcontinuethisprocessimmediately.
Condition: During our review over 25payroll transactions, we found eight instances where the School
wasimproperlycalculatingemployeeandemployerFICAtaxesforcertaininsurancedeductions.These
employeedeductionsshouldhavebeentreatedaspreFICAtaxdeductions;however,theSchooltreated
themaspostFICAtaxdeductions.
summarizethedetailofaccountsbalancesanduserreviewofcomputergeneratedreports.TheSchool
is also required to maintain an internal control structure to demonstrate the school ability to record,
regulations.
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2015002Payroll(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)(Continued)
Cause:TheSchoolcalculatedemployerandemployeetaxesincorrectlybynottreatingcertaininsurance
deductionsasapreFICAtaxdeduction.
calculated.
Managements Response: The Schools understanding of the Section 125 Plan was incorrect. We
appreciatetheguidancefromtheauditors.Theissuehasbeencorrectedinthecurrentyear.TheSchool
will continue to monitor payroll adding this area as an additional section for review. The business
managerwillensurethesechangesaremadeimmediately.
TAOSINTEGRATEDSCHOOLOFTHEARTS
Condition:Duringourtestworkover25payrolltransactions,wefoundtwoinstanceswheretheSchool
wasimproperlycalculatingemployeeandemployerFICAtaxesforcertaininsurancedeductions.These
employeedeductionsshouldhavebeentreatedaspreFICAtaxdeductions;however,theSchooltreated
themaspostFICAtaxdeductions.
summarizethedetailofaccountbalancesanduserreviewofcomputergeneratedreports.TheSchoolis
also required to maintain an internal control structure to demonstrate the school ability to record,
regulations.
Cause:Theschoolcalculatedemployerandemployeetaxesincorrectlybynottreatingcertaininsurance
deductionsasapreFICAtaxdeduction.
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2015001Payroll(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)(Continued)
calculated.
Managements Response: The Schools understanding of the Section 125 Plan was incorrect. We
appreciatetheguidancefromtheauditors.Theissuehasbeencorrectedinthecurrentyear.TheSchool
will continue to monitor payroll adding this area as an additional section for review. The business
managerwillimplementthisprocessimmediately.
2015002Disbursements(NoncomplianceinAccordancewithNewMexicoStateAuditRule)
Condition:Duringourtestworkover25cashdisbursementswenotedtwoinstancestotaling$359where
theSchoolpaidsalestaxfortangibleitems.
Criteria:PerNMAC3.2,Schooldistrictsareexemptfrompayingsalestax.
Effect:TheSchoolispayingforexpendituresthatarenotallowableorapplicable.
Cause:Internalcontrolsarenotinplacetoensuresalestaxisnotpaidontangibleitems.
Recommendation:InternalcontrolsshouldbeestablishedtoensuretheSchooldoesnotpaysalestaxon
tangibleitems.
ManagementsResponse:TheSchoolwillcontinuetrainingindividualsresponsibleforpurchasingontax
exemption procedures. The finance committee will also follow up with internal audit throughout the
year to ensure that the School is in compliance with the state regulations. The business manager is
responsible for training both School staff and the finance committee on procedures and methods for
monitoring.Thebusinessmanagerwilldocontinuoustraininganditwillbeginimmediately.
Rule)
Condition:Duringourinternalcontroltestworkoverasampleof25cashdisbursementswenotedtwo
instanceswherevendorswerepaidmorethantheagreeduponcontractandactualexpensesexceeded
theapprovedpurchaseorders.
executedinaccordancewithmanagementsauthorizationandrecordedproperlytopermitthe
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Rule)(Continued)
Effect: Reimbursements could be made without proper approval and expenditures could be reported
balancesmisstated.
Cause:TheSchooldidnotfollowinternalpurchasingpoliciesandprocedures.
Recommendation:Ensurepoliciesarefollowedbynotallowingpaymentstoexceedthecontractamount
andtheapprovedpurchaseorder.
Managements Response: The School has implemented a new structure for more internal reviews of
current year contracts to ensure that contracts are not exceeded. Periodic reviews by the finance
committee will be implemented. The director and business manager will monitor contracts more
carefully. The finance committee will review them on a random basis. This process will take effect in
fiscalyear2016fiscalyear.
TAOSINTERNATIONALSCHOOL
2015001InternalControlStructureandPaymentforServices(NoncomplianceinAccordancewiththe
Condition:Duringthefiscalyear2015,theSchoolusedtheInternalRevenueService(IRS)standardrate
formileagereimbursements.
Criteria: NMAC 2.42.2.11(b)(1) states that public officers and employees of state agencies shall be
reimbursedformileageaccruedintheuseofaprivateautomobileat80%oftheIRSstandardmileage
ratesetJanuary1ofthepreviousyearforeachmiletraveledinaprivatelyownedvehicle.
Effect:TheSchoolisnotincompliancewiththePerDiemandMileageActandisoverpayingemployees
fortravelonbehalfoftheSchool.
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STATEOFNEWMEXICO
TAOSINTERNATIONALSCHOOL(CONTINUED)
2015001InternalControlStructureandPaymentforServices(NoncomplianceinAccordancewiththe
Recommendation:TheSchoolshouldfollowthePerDiemandMileageActforlocalgovernmentswhen
payingformileagereimbursements.
School but rather one of a change in opinion by the Public Education Department (PED) and external
auditors. Previously, the Public Education Department had issued a memorandum from the Deputy
SecretaryofEducationwhichstatedcharterschoolswereabletopaymileageratesatthefullIRSrate.
Priorauditorshadgivencharterschoolsauditfindingsforpayingattheratesuggestedhere.Theschool
followed prior PED and auditor instruction in paying the rate. The finding should be that the PED and
auditors should be consistent in the interpretations issued to schools. The business manager was
responsibleforthisfindingandanewmileagepolicyhasbeenimplementedasofJuly2015.
2015002InternalControlStructureandPayroll(NoncomplianceinAccordancewiththeNewMexico
StateAuditRuleandSignificantDeficiency)
Condition:Duringourreviewoftwentysixpayrolldisbursementswenotedthefollowing:
Wenotedeightinstanceswhenbackgroundcheckswerenotcompletedtimelyandoneinstance
whenabackgroundcheckcouldnotbeprovidedforreview.
Foroneemployeescontractwewereunabletoprovidesupportregardingthepayratefortwo
installmentpayments.
We noted one employee for which the School was unable to provide evidence why Retiree
HealthCare(RHC)withholdingsandcontributionsshouldnothavebeenmade.
compensation. Pursuant to 2210.3.3 NMSA 1978, policies and procedures should be developed
requiring background checks on an applicant who has been offered employment with unsupervised
accesstostudentsatacharterschool.
Effect:TheSchoolisnotincompliancewiththerequirementsofNMAC6.20.2.18and2210.3.3NMSA
1978.
Cause:Internalcontrolswerenotinplacetoensurethatemployeeshadbackgroundchecksreceivedin
a timely fashion, that gross pay, for one employee, agreed to employees contracted salary, and that
necessarydeductionsarewithheldproperly.
Recommendation:Timecardsshouldbereviewedandcomparedtothehoursenteredintothepayroll
system to ensure accuracy as well as comparing the salary in the employment contract to the
employeesgrosspayperperiod.Additionally,systemparameterssurroundingpretaxpayroll
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STATEOFNEWMEXICO
StateAuditRuleandSignificantDeficiency)(Continued)
deductions should be reviewed to ensure that all deductions are processed in accordance with IRS
guidelines.Inaddition,allemployeesshouldberequiredtohaveacompletedbackgroundcheckonfile
beforetheirfirstdayofwork.
Managements Response: The School will implement procedures to ensure correct amounts are paid
andwithheldthroughpayroll.However,employeesarepaidonasalaryandtimecardsareusedonlyfor
parttime substitutes which this finding does not address. New hire procedures are also being
implemented to ensure compliance with background check requirements. The business manager was
responsibleforthisissueandithasbeencorrectedasofJuly2015.
2015003TimelyDeposits(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Foroneofelevencashreceiptstested,wenotedthatfundswerenotdepositedwithinthe
required24hourtimeframe.
Effect:TheschoolwasnotincompliancewithStateStatute.Additionally,theSchoolhasexposeditself
topossiblemisappropriationofassets.
Cause:TheschooldidnotfollowtheirinternalcontrolswhichareinplacetoensurethatNMAC6.20.2is
followed.
Recommendation: We recommend that the school is more diligent regarding incoming income from
fundraisers and all cash receipts to ensure that they are deposited within the required 24 hour
timeframe.
ManagementsResponse:TheSchoolhasputadditionalproceduresinplacetoaddresstimelydepositof
cashreceipts.Theadministrationattheschoolwasresponsibleforthisissueandithasbeencorrected
asofJuly2015.
2015004ERBRemittance(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: We reviewed twelve months of ERB remittances, noting that two remittances were made
severaldayslate.
Criteria: Based on the instructions for preparing the ERB form 100: electronic reports, consisting of
salariesandcontributionsanddemographicinformation,mustbesentbythe15thofthemonth
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2015004 ERB Remittance (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
following the month covered by the report The ERB Form 100 must be faxed the same day that the
contributions are electronically transmitted, no later than the 15th of the month following the month
coveredbytheReport.
Effect:TheSchooldidnotremitthecontributionstimelyandtheyweresubjecttoapenalty.
Cause:TheSchoolfailedtoremitthecontributionpaymentinatimelyfashion.
Recommendation: The School should comply with all due dates established for ERB reports and
contributions.
ManagementsResponse:SetupfornewschoolsrequirescoordinationwiththeERBoffice.Becausethis
was the first time the school was paying, the ERB accepted the payments as correct and timely. The
SchoolsbusinessmanagerwasresponsibleforthisissueandithasbeencorrectedasofJuly2015.
THELEARNINGCOMMUNITYCHARTERSCHOOL
2009003InternalControlStructure,(NonComplianceinAccordancewiththeNewMexicoStateAudit
Rule)(OtherMatter)
Condition: The trial balance had liability accounts which had debit balances totaling $6,925 that were
not reconciled for several years. In addition, the capital assets listing and the disposal of assets
informationcouldnotbeprovidedtotheauditorsduringfieldwork.
Criteria: Per NMAC 6.20.2.11 Internal Control Structure Standards, every school district shall maintain
guardedagainstlossfromunauthorizeduseofdisposition,thattransactionsareexecutedinaccordance
withmanagementsauthorizationandrecordedproperlytopermitthepreparationofgeneralpurpose
financialstatementsinaccordancewithGAAP.
PersubsectionAofSection1361,NMSA1978,suchdisposalsarerequiredtobecommunicatetothe
StateAuditoratleast30dayspriortotheactualdisposal.Additionally,NewMexicoAdministrativeCode
2.2.2.10T(2)&(3)requiresthatintheeventofacomputerdisposalitmustbesanitizedoreffectively
make inaccessible all licensed software and any electronic media pertaining to the organization. A
certificationthattheharddrivehasbeenerasedordestroyedmustbeprovidedtotheStateAuditor.
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.11andtheSchoolisnotincompliancewith
therequirementsofSubsectionAofSection1361,NMSA1978,orNMAC2.2.2.10T(2)&(3)relatedto
equipmentdispositions.
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THELEARNINGCOMMUNITYCHARTERSCHOOL(CONTINUED)
Rule)(OtherMatter)(Continued)
Cause: Turnover in the Business Manager position and the closure of the School led to difficulties in
performingyearendreconciliationsandobtainingapplicabledisposalinformation.
Recommendation:TheSchoolshouldhaveperformedreconciliationsofallaccountsonamonthlybasis.
ThiswouldhavehelpedinmakingpertinentdecisionsaffectingtheSchoolbytheGovernanceboardand
management. The School should have implemented internal controls that would ensure compliance
withSubsectionAofSection1361,NMSA1978,andNewMexicoAdministrativeCode2.2.2.10T(2)
ManagementsResponse:TheLearningCommunityCharterSchoolwasclosedbythePublicEducation
Commission effective June 30, 2014. PED has since taken over close out operations and will ensure
propercontrolsareimplementedduringthecloseout.
2013002ProcurementCode(NonComplianceinAccordancewiththeNewMexicoStateAuditRule)
(OtherMatter)
Condition: During proceedings to close the School, the School hired a relatedparty to perform legal
services.Thetotalamountspentwas$21,212duringtheyearendedJune30,2015andnobidprocess
wasdocumented.Intheprioryear,theSchoolspend$103,300tothissamevendorforthelegalservices
andtherewasnobidprocessdocumentedforthisyear.
Criteria:AsindicatedinNMAC1.4.1.14through1.4.1.28,aninternalcontrolstructureoverpurchasing
shall be established and maintained to assure compliance with school district policy and state and
federalregulationsinassurancethatallthebidsaresupportedbyproperdocumentation.
Effect:TheSchoolisnotincompliancewithNMAC1.14.1.14through1.4.1.28.
Cause:AccordingtoSchoolpersonnel,theSchoolmadenumerousattemptstocontactvariousfirmsfor
legalservices.Attemptsweremadevianewspaperandtelephone,however,supportingdocumentation
couldnotbelocateddocumentingsuchattempts.AccordingtoSchoolpersonnel,theSchoolcontends
that the vendor chosen provided sole source services for the Schools ensuing legal litigation and
throughoutthePEDappealsprocess.
Recommendation: The School should have designated a procurement agent who would have been
accountableformaintainingrecordsandensuringStateprocurementpolicieswerebeingimplemented
andfollowed.TheSchoolshouldhaveobtainedbidswhenservicesrenderedweregreaterthan$60,000.
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STATEOFNEWMEXICO
2014001InternalControlStructure(NonComplianceinAccordancewiththeNewMexicoStateAudit
Rule)(OtherMatter)
Condition:Duringinternalcontroltestworkoverasampleof17cashdisbursements,wenotedthatfour
transactionsdidnothavepropersupportingdocumentationandpurchaseordersforatotalof$28,236.
13121 et seq., NMSA 1978. Purchasing policies and procedures for grant funding shall comply with
requirementsestablishedwithinthegrantandtheProcurementCode.Aninternalcontrolstructureover
purchasing shall be established and maintained to assure compliance with school district policy, and
stateandfederalregulations.
Effect:Propermaintenanceofsupportingdocumentationrelatingtofinancialtransactionsisnecessary
to mitigate possible dual payment of invoices and to resolve possible disputes with vendors, etc.
Reimbursements could be made without proper approval and expenditures could be reported
balancesmisstated.
Cause:ThetimingoftheauditoccurredaftertheSchoolclosedandtheSchoolonlyhadaconsultantpay
any outstanding bills. There was discussion with PED on paying expenditures but no formal
documentationgivingapplicableapproval.
Recommendation: The School should have developed and implemented internal controls making sure
thatallsupportingdocumentationwasmaintained.
Rule)(Significantdeficiency)
Condition:Duringourtestworkoffivejournalentries,wenotedthattwojournalentriesintheamounts
of $2,717 and $2,264 were not approved or reviewed by someone other than the preparer of the
journalentries.
Criteria: NMAC 6.20.2.11 (A) Every school district shall establish and maintain an internal control
structuretoprovidemanagementwithreasonableassurancethatassetsaresafeguardedagainstloss
fromunauthorizeduseordisposition,thattransactionsareexecutedinaccordancewithmanagement's
inaccordancewithGAAP,andthatstateandfederalprogramsaremanagedincompliancewith
Vol. II - 180
STATEOFNEWMEXICO
Rule)(Significantdeficiency)(Continued)
applicable laws and regulations. The internal control structure shall include written administrative
controls (rules, procedures and practices, and policies that affect the organization) and accounting
controls (activity cycles, financial statement captions, accounting applications including computer
systems)thatareinaccordancewithGAAP.
Effect: Journal entries that are not reviewed or approved by someone with the appropriate level of
accounting knowledge may result in entries made in error and could lead to a misstatement of the
Cause:DuetotheclosureoftheSchool,theSchooldidnothaveadequatepersonneltoapprovejournal
entriesmadeduringtheyear.
Auditors Recommendation: Management should have established internal control policies to review
andapprovejournalentriesduringtheyear.
Managements Response: The Learning Community Charter School was closed by the Public Education
TIERRAADENTRO
2014001InternalControlStructureandPaymentforservices(NoncomplianceinAccordancewiththe
NewMexicoStateAuditRuleandSignificantDeficiency)
Condition:Duringourreviewoftwentyfivedisbursements,wenotedoneexpendituretotaling$5,000
toacontractorthatwasnotinaccordancewiththecontract.Accordingtothecontract,thecontractoris
tobepaidonanhourlybasis;however,thecontractorwaspaidaflatfeeof$2,500everytwoweeks.In
addition,basedonreviewofthiscontractor,itappearstheindividualshouldhavebeenclassifiedasan
employee instead of a contractor. Beginning in fiscal year 2016, the School changed the individuals
classificationtoanemployee.
Criteria: NMAC 6.20.2.11 Internal Control Structure Standards, requires every school to maintain an
internal control structure that will provide management with reasonable assurance assets are safe
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.11.
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STATEOFNEWMEXICO
TIERRAADENTRO(CONTINUED)
2014001InternalControlStructureandPaymentforservices(NoncomplianceinAccordancewiththe
NewMexicoStateAuditRuleandSignificantDeficiency)(Continued)
Cause:Internalcontrolswerenotinplacetoensurepaymentsweremadeinaccordancewithcontract
provisions and that contractors were properly reviewed to determine employee versus contractor
status.
Recommendation:Invoicesshouldbereviewedforaccuracywithcontractprovisionspriortopayment.
TheSchoolshouldalsouseIRSguidancewhendeterminingwhetheranindividualisanemployeeora
contractor.
Managements Response: The School has used IRS guidance to determine whether an individual is
considered an employee or a contractor and has made the necessary changes. The School does have
policiesandproceduresinplacesothatallinvoicesarebeingreviewedpriortopayment.Thebusiness
managerwillberesponsibleforensuringthattheseinternalcontrolsareinplaceandthechangeshave
alreadybeenmade.
StateAuditRuleandSignificantDeficiency)
Condition:Duringourreviewoftwentyfivepayrolldisbursementswenotedthefollowing:
The amount of hours paid to an employee did not agree to the employees time sheet.
Accordingtothetimesheet,theemployeeshouldhavebeenpaidfor40.5hours.However,the
employeewasactuallypaidfor54hourswhichresultedina$278.10overpayment.
SeventeeninstanceswheretheSchoolwasimproperlycalculatingemployeeandemployerFICA
taxesforcertaininsurancedeductions.Theseemployeedeductionsshouldhavebeentreatedas
preFICAtaxdeductions;however,theSchooltreatedthemaspostFICAtaxdeductions.
Criteria: NMAC 6.20.2.11 Internal Control Structure Standards, requires every school to maintain an
internal control structure that will provide management with reasonable assurance assets are safe
Effect:TheSchoolisnotincompliancewithNMAC6.20.2.11andanemployeewasoverpaidaccording
to the supporting documentation provided by the School. In addition, the School and the employees
paidmoreintaxesthanwhatshouldhavebeenpaid.
Cause: Internal controls are not in place to ensure payments are made in accordance with contract
provisions and the employees time card. In addition, internal controls are not in place to ensure
deductionsareproperlyenteredintothepayrollsystem.
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STATEOFNEWMEXICO
StateAuditRuleandSignificantDeficiency)(Continued)
Recommendation:Timecardsshouldbereviewedandcomparedtothehoursenteredintothepayroll
systemtoensureaccuracy.Implementinternalcontrolstoensuredeductionsareproperlyenteredinto
thepayrollsystem.Areviewshouldbeperformedforallemployeestoensuredeductionsareproperly
calculated.
Managements Response: The School does have policies and procedures in place to ensure that all
timecardsareaccurateandthecorrectsalaryisbeingenteredintothefinancialsystem.Areviewofthe
correct tax withholding is currently being undertaken. The School will ensure that the deductions are
being properly calculated. The business manager will be responsible for ensuring that these internal
controlsareinplaceandtheyexpecttohavetheminplacebyMarch2016.
2015002AuditCommittee(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition: The School does not have a volunteer member with experience in accounting or financial
mattersontheirauditcommittee.
Criteria:PerNMSA22812.3Eachlocalschoolboardshallappointanauditcommitteethatconsistsof
twoboardmembers,onevolunteermemberwhoisaparentofastudentattendingthatschoolandone
volunteermemberwhohasexperienceinaccountingorfinancialmatters.
Effect:TheSchoolisnotincompliancewithstatestatute.
Cause:TheSchoolhasnotbeensuccessfulinrecruitingtherequiredauditcommitteemember.
Recommendation:TheSchoolshouldevaluateauditcommitteerecruitmenteffortsandensurethatall
requiredmembershavebeenmet.
Managements Response: The School is actively looking for a volunteer member to be on the audit
committee.Thegoverningcouncilandprincipalwillberesponsibleforrecruitingavolunteerandthey
expecttohavethisproblemresolvedbyJune2016.
2015003TimelyDeposits(NoncomplianceinAccordancewiththeNewMexicoStateAuditRule)
Condition:Duringourcashreceiptstestwork,wenotedtworeceiptsintheamountsof$2,230and$75
receivedonAugust4,2014andJuly15,2014thatwerenotdepositeduntilAugust6,2014andJuly18,
2014,respectively.
twentyfourhoursoronebankingday.
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STATEOFNEWMEXICO
2015003 Timely Deposits (Noncompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
Effect:TheSchoolisnotincompliancewithstatestatute.
Cause: The School had limited staff during the summer which led to the inadvertent oversight of not
takingthedepositstothebankwithintherequiredtimeframe.
Recommendation:TheSchoolshouldimplementprocedurestoensurethatreceiptsaredepositedinthe
bankwithintherequiredtimeframe.
ManagementsResponse:TheSchoolwillemphasizethattheinternalcontrolproceduresarefollowed
ensuringthatallmoneybeingreceivedisbeingrecordedcorrectlyanddepositedwithin24hours.The
administrativestaffandbusinessofficewillberesponsibleforensuringthatdepositsarebeingmadein
atimelymannerandtheyexpecttohavethisprocessundercontrolbyJanuary2016.
Condition:Duringourcashdisbursementstestwork,wenotedtwoinstanceswheretheSchooldidnot
follow their procurement policy when purchasing tangible items that were in excess of $5,000. The
tangible items purchased were from two different vendors and totaled $8,368 and $29,550,
respectively.
13121 et seq., NMSA 1978. The Schools procurement policy states, Attach three (3) quotes if the
amounttobepurchasedexceeds$5,000.Thequotesmustincludevendornameandtelephonenumber.
Besureeachquoteisinclusiveofallchargesandfreight.
Effect: The School could be overpaying for services and/or goods and the School is not in compliance
withtheirpolicy.
Cause: Internal controls were not in place to ensure the School follows their internal policies when
purchasingtangibleitems.
Recommendation:TheSchoolshouldensurequotesareobtainedwhenpurchasesexceed$5,000.
ManagementsResponse:TheSchoolwillensurethatthepoliciesandproceduresarebeingemphasized
and complied with. The administrative staff and business manager will be responsible for following
procurementproceduresandwillhavetheseimplementedbyJanuary2016.
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STATEOFNEWMEXICO
Condition: The School did not properly budget prior year cash carryover in the Food Services Fund
21000.Therewasnoprioryearcashcarryover;however,theSchoolbudgetedadeficitof$6,432for
thisfund.
Effect: The School is out of compliance with state statute and the controls established by the use of
budgetshasbeen compromised,whichcouldresult indeficitfundbalancesandunnecessaryusageof
fundstocoverthedeficit.
Cause: The School budgeted a deficit when there was no prior year cash carryover amounts for this
fund.
coversuchoverages.
ManagementsResponse:TheSchoolhaspolicesandprocedureinplaceandwillensurethatthebudget
isreviewedproperly.Thebusinessmanagerwillberesponsibleforensuringthatthebudgetiscorrect
andweexpecttohavethisimplementedbyJune2016.
UPLIFTCOMMUNITYSCHOOL
2013002InternalControlStructure(Compliance)
Condition: During our fieldworkwe noted that the schooldoes not have a contractin placewiththe
foodservicevendor.Totaldisbursementswere$40,137.
Criteria: Per 7 CFR part 210.21(f) Cost reimbursable contracts(1) required provisions. The school
food authority must include the following provisions in all cost reimbursable contracts, including
contractswithcostreimbursableprovisions,andin solicitationdocumentsprepared toobtain offers
forsuchcontracts:(i)allowable costs will be paid from the nonprofit school service account to the
contractor net ofall discounts, rebates and other applicable credits accruing toor received by
the contractor or any assignee under the contract, to the extent those credits are allocabletothe
allowableportionofthecostsbilledtotheschoolfoodauthority.
Effect:Theschoolcouldbeoverpayingforfoodservices.
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STATEOFNEWMEXICO
UPLIFTCOMMUNITYSCHOOL(CONTINUED)
2013002InternalControlStructure(Compliance)(Continued)
Cause:TheSchoolenteredintoanarrangementwiththefoodservicevendorto providefoodbutdid
notenterintoaformalcontractforthepricing.
Recommendation: We r ecommend that contracts be completed for food services in order to

ensure that all the CFR compliance requirements are properly includedinthecontract.
Managements Response: The school does not use a service company for prepared meals reimbursed
throughtheUSDA.Theschoolpurchasesrawmaterialsandfoodsfromafoodvendor,primarilySysco,
and prepares student meals from scratch on site. Management had requested multiple times from
numerous individuals within the Sysco Company a copy of the food pricing contract. The school has
workedwithSyscoonformatforafoodcontractandhasputthecontractintoplaceforthe20152016
schoolyear.
2014001SupportingDocumentation(SignificantDeficiency)
Condition:Duringourtestworkthefollowingitemswerenoted:
In a sample of sixty expenditures, there was one disbursement in the amount of $744, where
theschoolcouldnotprovideanysupportingdocumentation.
Inasampleoftwentycashreceiptsselectedforstudentfeesandstudentactivities,eightofthe
itemsselectedweremissingareceipt(totalof$3,282)tothepartysubmittingpaymentandone
item(approximatetotalof$200)wasmissingabankdepositslip.
GAAP."
Additionally, NMSAC 6.20.2.14.C states that money received and receipted shall be deposited in the
Effect:Itcouldnotbedetermineiftheexpenditureandthecashreceiptswereproperlyrecordedonthe
generalledger.Itcouldnotbedeterminedifthecashreceiptsweredepositedinatimelymanner.
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STATEOFNEWMEXICO
2014001SupportingDocumentation(SignificantDeficiency)(Continued)
Cause: The school does not have in place proper internal controls to ensure that supporting
documentationismaintainedforallcashdisbursementsandcashreceipts.
auditors.
ManagementsResponse:UpliftCommunitySchoolhasworkedhardtoestablishandmaintainasetof
internalcontrolsandpoliciesandproceduresaroundprocurement.Theschoolidentifiedinconsistencies
withpersonnelfollowingthedefinedpoliciesandprocedures,andhasmadeapplicablechangestothe
personnelforthe20152016schoolyear.Theschoolhasreviewedthepoliciesandprocedureswiththe
incoming staff and is confident that the areas of policy application and records maintenance will be
greatlyimproved.
mileageatarateoffiftysixcentspermile.
reimbursement.
Agency.
vehicle.
ManagementsResponse:TheschoolhasadoptedarevisedTravelandPerDiempolicythatlimitsthe
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STATEOFNEWMEXICO
allowable mileage reimbursement to 80% of the approved IRS rate for any given calendar year for
authorizedtravelinapersonalvehiclerelatingtoofficialschoolbusiness.
Condition: The School had expenditure functions where actual expenditures exceeded budgetary
authority:
OperationalFund(11000)
FoodServiceOperations
$22,533
TeacherPrincipalTraining(24154)
SupportServices
$1,165
TitleXIXMedicaid3/21Years(25153)
Instruction
$81

ManagementsResponse:Managementwillreviewthecurrentpolicythatisinplacetoreviewbudget
toactualsfortheestimationoftheyearendposition.Currentlytheschoolsfinancecommitteemeets
inJunetoreviewtheestimatesandcreateanynecessarybudgetadjustments.InFY2015areviewwas
doneoftheFoodServiceprogramandfoodexpendituresinexcessoftotalrevenuesfortheprogram
were reallocated to the Operational fund. The review was done at year end after final Budget
Adjustment Requests were due to the PED. Management will continue to work with the school and
monitorthefoodserviceaccountforanticipatedfundingpitfallsduetotheuniquesetupofthecharter
schoolsfoodserviceprogram.TheBusinessManagerwillpostanynecessaryBARsbyDecember31st.
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STATEOFNEWMEXICO
Condition:Thirteenemployeeswereselectedforpayrolltesting.Thefollowingitemswerenoted:
Twoemployeespersonnelfilesdidnotcontainbackgroundchecksorcertifications.
documentation.
Cause:TheSchoolisnotreviewingthepersonnelfilesforcompliancewithStateStatutes.
ManagementsResponse:TheUpliftCommunitySchoolhasadoptedpoliciesthatexceedthoseofthe
State when it comes to the area of new hire documentation. The school requires that all new staff
memberspassabackgroundcheck,usuallyranthroughtheMcKinleyCountySheriffsoffice,unlessthe
employeehasacopyofabackgroundcheckwithintwoyearsoftheirhiredate.Theschoolwasableto
document that the employees in question had background checks, but did not have copies of the
background checks to provide the auditors. Uplift will review the policies and procedures related to
hiringwithallapplicablepersonnel.Upliftwillalsodevelopapolicyforrecurringbackgroundchecksfor
all staff members, not just those who are seeking new employment with the school. The school will
requirethatallstaffmembersprovideduediligenceastotheirlicensurestatusand/orapplicationwith
the State of New Mexico whether through the renewal process, reciprocation process, or the new
applicant process. This will include a detailed timeframe for followup in order to continue their
employment.ThiswillbecompletedbyDecember31st.
Condition:Duringourtestingofsixtycashdisbursements,therewerefiveinstances(totaling$3,645)in
wherethePurchaseOrderwaspreparedsubsequenttothevendorsinvoicedate.
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STATEOFNEWMEXICO
ManagementsResponse:UpliftCommunitySchoolhasworkedhardtodevelopfinancialpoliciesand
procedures that are both compliant and safe guard the school from financial mismanagement.
Management will work with the school administration and all staff to emphasize the procedures
establishedandensurethatallpurchaseshaveanapprovedpurchaseorderbeforegoodsorservicesare
ordered.ManagementwillhavethiscompletedbyDecember31st.
2015003CheckSigning(Compliance)
Condition:Duringourtestingofsixtycashdisbursements,thereweresixinstances(totaling$18,850)in
whereacheckover$250onlyhadoneauthorizedsigner.
andfederalregulations.TheSchoolhasestablishedaninternalpolicywhichrequiresallChecksof$250
ormoretobesignedbytwoauthorizedchecksigners.
Effect:TheSchoolwasnotincompliancewithitsowninternalcontrolprocedures.Noncompliancewith
establishedinternalcontrolsplacestheSchoolatriskforfraudormisuseofpublicfunds.
Recommendation:TheSchoolshouldfollowitsowninternalcontrolsandensurethatallchecksof$250
ormorebesignedbytwoauthorizedchecksigners.
ManagementsResponse:Theschoolsfinancialpoliciesandproceduresthathavebeenadoptedwere
created to protect the school against financial mismanagement and fraud. As new personnel were
broughtontotheschoolsgovernanceandadministrationtheywerenotmadereadilyawareofthe
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STATEOFNEWMEXICO
2015003CheckSigning(Compliance)(Continued)
policy requiring two check signers for all amounts over $250. The school has reviewed their financial
policies and procedures and has updated the threshold required for dual signors to better reflect the
need to process routine transactions and employees payroll timely. Management will ensure that all
authorizedchecksignersaremadeawareoftheschoolspoliciesrelatingtochecksigningonaregular
basis.ManagementwillcompletethisbyDecember31st.
WALATOWAHIGHCHARTERSCHOOL
2013001TimelyDeposits(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
Condition:Duringourcashreceiptstestwork,wenotedthefollowingcashreceiptswerenotdeposited
withinthe24hourrequirement.Wenotedtwooftentransactionstested,intheamountsof$2,849.06
and$10,000thatwerereceivedonNovember14,2014andSeptember29,2014,respectively,andwere
notdepositeduntilNovember18,2014andOctober1,2014,respectively.
Criteria:NMAC6.20.2.14.Cstatesmoneyreceivedandreceiptedshallbedepositedinthebankwithin
Effect:TheSchoolwasnotincompliancewithNewMexicoStatestatuteasstatedabove.
Cause:TheSchoolspoliciesandproceduresregardingcashreceiptsarenotbeingenforced.
Recommendation:Implementpoliciesandprocedurestoensuredepositsaremadewithin24hoursof
thecashreceiptorapplyforanexceptiontothisrequirementasstatedinthestatute6.20.2.14C.that
Ifthedistancetothebankisconsiderable,orthecashcollectionislimitedtosmallamountsand/orlow
volume and it is impractical to meet the twentyfour/one banking day requirement, the board may
request approval from the department for an alternative plan. The bank deposit slip shall have the
numbersfromapplicablereceiptsenteredonitorattachedasareference.
ManagementsResponse:TheSchoolwillenforceschoolpoliciesandprocedurestoensuredepositsare
madewithinthe24hoursofcashreceipt.TheSchoolhasdesignatedWHCSBusinessManager,WHCS
Principaland/ordesigneetodepositcashreceiptswithinthe24hourwindow.Incasedepositcannotbe
madeinthetimeframeallotted,WHCSBusinessManagerwillprovidedocumentationanddepositnext
businessday.
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STATEOFNEWMEXICO
WALATOWAHIGHCHARTERSCHOOL(CONTINUED)
2013004Travel&PerDiem/InternalControls(NonComplianceinAccordancewiththeNewMexico
StateAuditRule)
Condition:Duringourtestworkoftravelandperdiem,wenoteditemizedmealreceiptsthatwerenot
includedinthesupportingdocumentationpriortotheemployeereimbursementforthetotalamountof
$55.25.
Criteria:PerNMAC6.20.2.11,everySchoolshallestablishandmaintainaninternalcontrolstructurethat
ensures transactions are executed in accordance with managements authorization and recorded
properlytopermitthepreparationofgeneralpurposefinancialstatementsinaccordancewithGAAP.
Effect: The School is not in compliance with New Mexico State statute regarding per diem and travel
requirements.
Cause:LackofinternalcontrolstoensuretheSchoolfollowstravelandperdiemguidelinesduringtravel
bySchoolemployees.
Recommendation: Follow the Travel and Per Diem and Mileage Act for local governments as well as
thoseguidelinesstatedintheSchoolspoliciesandproceduresthatitemizedreceiptsmustbeincluded
insupportingdocumentationuponsubmittingarequestforreimbursement.
ManagementsResponse:WHCSCorrectiveAction
BoardwillapproveTravel&PerDiemreimbursementbasedonInternalRevenueServiceannual
standard.
MileagewillbebasedutilizingtheRandMcNallymileagecalculator
Itemizedreceiptwillberequiredbeforereimbursementisprocessed.
2014001 Internal Control Structure (Non Compliance in accordance with the New Mexico State
AuditRule)
Condition: During our cash receipts testwork, we noted that the School had receipts from student
activities,suchasathleticevents,gameticketsandconcessions,andvariousfundraisers.Weperformed
thecashreceiptstestworkregardingtheseactivitiesandnotedthefollowing:
Athletic events tested did not have supporting documentation regarding cash receipts in the
total of $9,202 for various events during the School year. In addition, for the athletic events
there was no reconciliation of total tickets issued and sold for these events (excluding district
games).
Cash collections from Prom 2015 generated revenue of $1,226. There was no supporting
documentationonhowmuchwascollected.
Vol. II - 192
STATEOFNEWMEXICO
2014001 Internal Control Structure (Non Compliance in accordance with the New Mexico State
Criteria: NMAC 6.20.2.11 requires that every school district maintain an internal control structure to
unauthorizeduseofdispositions.
Effect: The School was not in compliance with New Mexico State statute regarding cash receipts
collectedatstudentactivities.Additionally,theSchoolisexposedtomisappropriationofassetsdueto
thelackofmultipleindependentcashcountsatsportingevents.
Cause: Due to the availability of staff, the School has difficulty performing independent counts at
sporting events at the School and the School does not have policies and procedures in place for cash
receiptscollectedatsportingeventsandforotherevents.
Recommendation: Ensure policies and procedures are implemented to safeguard cash collected at
studentactivityevents,i.e.sportingevents.Thefollowingcontrolsshouldbeimplemented:
Cashshouldbecollectedbyatleasttwoindividuals.Eachpersonshouldhavetheirownbank
whichismaintainedandthencountedbyanotherindividual.Oncecountedbymorethanone
individual, the total amount should be documented and the individuals who performed the
countshouldsignthecashcountform.
TheSchoolshoulduseprenumberedticketsforallsportingevents.Thenumberofticketsused
for a sporting event should be documented and tracked. Once the event is completed, the
Schoolshouldreconcilethenumberofticketssoldtothetotalamountofcashcollected.Any
discrepanciesshouldbeinvestigated.
ManagementsResponse:WHCSCorrectiveAction:(Process)
WHCSwilldistributeprenumberedticketstoverifyforallsportingeventsfortracking.
Once event is completed, WHCS will reconcile the number of tickets sold to the total
amountofcashcollected.
TwodesignatedWHCSemployeeswillreviewticketssold,collectandcountcash,secure
documentedamountinWHCSfacility.
Within24hours,depositamountatbankandreturnreceipttoWHCSBusinessManager
forreview.Allbankdepositsandcashcountaretocoincide.Incasedepositcannotbe
made in the timeframe allotted, WHCS Business Manager will provide documentation
anddepositnextbusinessday.
Vol. II - 193
STATEOFNEWMEXICO
2014002 Payroll Transactions (NonCompliance in Accordance with the New Mexico State Audit
Rule)
Condition:Duringtestworkperformedon25employeepersonnelfiles,wenotedthefollowing:
I9 forms were present in the employee files for 12 employees tested but were not complete
withemployerreviewandapproval. OneI9formwascompletebuttheemployeeauthorized
theirownreviewofpersonneldocuments.
Backgroundresultsfor11employeeswerenotonfile.Inaddition,wenotedabackgroundcheck
foroneemployeewascompletedMarch26,2015whichissubsequenttoemploymentofJuly
30,2014pertheemployeecontract.
Criteria:Stateregulation6.20.2.18,NMACstatesthattheSchoolmustmaintainandhaveavailablefor
inspectionallpayrollrelateddocumentation,includingbutnotlimitedtoemployeecontracts,I9s,W
4s,timecards.
Accordingto2210.3.3NMSA1978policiesandproceduresshouldbedevelopedrequiringbackground
charterschool.
Effect: The School has a potential for lawsuits, as it is not protecting itself by performing background
checks required by state statute as stated above. Completed I9 forms are important since they
documenttheidentityandemploymentofnewemployee(bothcitizenandnoncitizen).
Cause: Employee files were not properly maintained and kept up to date to include all changes to
employee information. Portions of supporting documentation were kept but information was not
completeforreview.
Recommendation: We recommend the School review their personnel files to ensure all required
documents are completed and maintained. We also recommend the School review their policies and
procedures manual regarding background checks and ensure that each employee has been given a
backgroundcheckbeforetheirdateofhire.
ManagementsResponse:TheSchoolhasreviewedandcorrectedunsigneddocuments.WHCSBusiness
ManagerandWHCSSuperintendent/Principalorappointeddesigneewillensurethatallreviewedand
signedsupportingdocumentationisinemployeefilepriortoemployment.
Allemployeeswillberequiredtocompleteand/orupdateallbackgroundcheckswhichwillbeplacedin
personnelfilenolaterthanJanuary2016.TheSchoolisinprocesswithCogentBackgroundServicesto
completeallbackgroundchecksforemployees.
Vol. II - 194
STATEOFNEWMEXICO
2015001 Budget Adjustment Requests (BAR) (NonCompliance in Accordance with the New Mexico
StateAuditRule)
Condition: Five of the five budget adjustment requests tested were not specifically included in the
governing council meeting minutes as having been reviewed and approved prior to submitting the
budgetadjustmentrequesttoPED.
Criteria:AsstatedintheFinancialPoliciesforWalatowaHighCharterSchool,thebusinessmanagerwill
submit the proposed modified budget to the Executive Director or designee for approval. Once
approved by the Executive Director or designee, the proposed modified budget is submitted to the
Governing Board for approval at a scheduled meetings. If the changes are approved, the approval is
notedinthemeetingminutes.Abudgetadjustmentrequestisthensubmittedeitherelectronicallyor
manuallytothePublicEducationDepartmentforapproval.
Effect: When BARs are not first discussed with the Governing Council, this prevents the council from
havingaccurateinformationregardingthebudgetinordertomakedecisions.Theyarealsounawareof
thebalancechangesthattheschoolisrequesting.
Cause:GoverningCouncilminutesstatedtheboardapprovedBARadjustmentsbutdidnotincludethe
detailsastowhichBARwasdiscussedandapproved.
Recommendation: Ensure minutes include necessary detailed information pertaining to all items
discussed,priortobeingapprovedbytheCouncil.Theminutesshouldclearlydocumenttheapproved
budgetadjustmentrequestintheboardminutes.
Managements Response: Budget adjustment request and Governing Board approval will be noted in
meeting minutes. Names of the Governing Board members that approved budget adjustments will be
reflectedinGoverningBoardmeetingminutes.
2015002InternalControl(NoncomplianceinaccordancewiththeNewMexicoStateAuditRule)
Condition:Duringtestworkperformedonjournalentries,wenotedthefollowing:
Four of the six journal entries tested totaling $11,476.38, had no evidence that the entry was
reviewedbyasecondaryreviewerbeforepostingtothegeneralledger.
Sixofthesixjournalentriestestedtotaling$117,151,didnothavesupportingdocumentation
fortherespectiveentry.
Criteria:Per6.20.2.11ofNMACsectionBwhichstatesthateachschooldistrictshalldevelop,establish
and maintain a structure of internal accounting controls and written procedures to provide for
segregation of duties, a system of authorization and recording procedures, and sound accounting
practicesinperformanceofdutiesandfunctions.Thedutiestobesegregatedaretheauthorizationto
executeatransaction,recordingthetransaction,andcustodyofassetsinvolvedinthetransaction.
Vol. II - 195
STATEOFNEWMEXICO
2015002 Internal Control (Noncompliance in accordance with the New Mexico State Audit
Rule)(Continued)
Effect: Lack of supporting documentation for journal entries can lead to an increased risk of fraud or
improper posting of journal entries. The posting of journal entries to the incorrect fund or journal
entriesthatdonotbalancecancausematerialmisstatementtothefinancialstatements.Thebusiness
managercouldmakeentriesthatcouldbeinappropriateandwouldnotbedetectedorcorrectedwhen
journalentriesarenotproperlyandconsistentlyreviewed.
Cause:TheSchoolisnotconsistentlyfollowingtheirfinancialpoliciesandprocedures.
Recommendation: The journal entries should be presented to the executive director or finance
committee with supporting documentation and properly approved prior to posting to ensure that the
accountsandbalancesareaccurate.
Managements Response: All journal entries are submitted to Walatowa High Charter School
Superintendent/Principal for approval and Business Manager and will include detailed supporting
documents.
2015003GrantsManagementAccountsReceivable(Significantdeficiency)
Condition:Duringtestworkperformedonaccountsreceivable,wenotedthefollowingwhichrequired
adjustingjournalentries:
Capital Improvements SB9 (Fund 31700) had expenditures recorded at yearend, however no
revenues or receivables were recorded. A request for reimbursement was submitted but not
recordedorreceivedasofOctober2015.
GEARUP(Fund25205)showedasignificantnetlossfortheyear.Arequestforreimbursement
wassubmittedbutnotrecordedorreceivedasofOctober2015.Subsequenttofieldwork,the
granting agency provided the school a letter decreasing the reimbursement for disallowed
expenditures.
Indian Education (Fund 27150) showed an overall net loss for the year. Five requests for
reimbursementsweresubmittedandreceivedsubsequenttoyearend,tworequestswerenot
fullyreimbursed.
Criteria: The School must have a system in place to track revenues and expenditures for each fund,
includingrequestsforreimbursements.
Effect:TheSchoolisnotproperlyrecordingrevenuesandexpendituresforeachfund.
Cause:Theschooldoesnothaveasysteminplacefortrackingrequestsforreimbursement.Thereisno
reconciliationinplacetocomparethefundsreceivedtothefundsrequested.
Vol. II - 196
STATEOFNEWMEXICO
2015003GrantsManagementAccountsReceivable(Significantdeficiency)(Continued)
Recommendation:Establishatrackingsystemforrequestsforreimbursementsthatidentifiesthedate
submittedanddatereceived,alongwithanyvarianceintheamountreceivedanddisallowedcosts.The
School should establish a process to follow up on any pending request for reimbursements within a
reasonableperiodoftime.
Managements Response: WHCS has received all Requests for Reimbursements for all Capital
ImprovementsSB9,NMGearUpandIndianEducationafterOctober,2015.WHCShasafileforeachof
allFundsthatrequireRfRsandmakescopiesofallRfRsthatprocessthroughOBMSandPED.
2015004 Budgetary Conditions (NonCompliance in Accordance with the New Mexico State Audit
Rule)
Condition:TheSchooldidnotproperlybudgetprioryearcashcarryoverinthefollowingfunds:
ImpactAidSpecialEducation(25147)prioryearcashof$31,872wasinsufficienttocoverthe
currentyearfinalbudgetdeficitof$37,619.
Center for Native Education (26181) prior year cash of $5,583 was insufficient to cover the
currentyearfinalbudgetdeficitof$7,672.
NewMexicoGEARUp(28178)prioryearcashof$1,132wasinsufficienttocoverthecurrent
yearfinalbudgetdeficitof$1,165.
Criteria:PerNMAS6.20.2.9(A)everyschooldistrictshallfollowbudgetrequirementsstatedinSections
the use of budgets has been comprised, which would result in deficit fund balances and unnecessary
Cause: The budget adjustment request did not consider prior year carryover amounts for the above
fundsandbudgetadjustmentrequestswerenotpreparedandsubmittedtoPED.
coversuchoverages.
Managements Response: WHCS did have in place BARs for carryover monies and WHCS Governing
Board approves the RfRs which are then submitted through OBMS for PED approval. This was also
explainedtotheauditorduringWHCSsexitmeetingandwetookacopyofthePEDapprovedBAR.
Fund26181Thisfundisnolongerinexistence,thiswasexplainedtotheauditorduringtheWHCSsexit
meeting.
Vol. II - 197
STATEOFNEWMEXICO
2015004 Budgetary Conditions (NonCompliance in Accordance with the New Mexico State Audit
Rule)(Continued)
Fund28178ThisfundhasbeenreassignedasFund25205,NMGearUp.Noexpenditureshavebeen
expendedsinceWHCSneedspriorapprovalfromHEDNMGearUp.
2015005BankAccountsandBankReconciliations(SignificantDeficiency)
Condition:Duringtestworkperformedovercash,wenotedthefollowingitemsontheJune2015bank
reconciliation:
Six items dated from June 30, 2012 through October 27, 2014 were identified as outstanding
deposits;however,theseareadjustmentstocorrectcashbalancesthatarecarriedforwardeach
month.
FiveitemslistedasoutstandingchecksweredatedpriortoJuly1.2014.
OneitemwaslistedasanoutstandingpaymentforApril2015,howeveritclearedthebankin
May2015andwasnotremovedfromtheoutstandingchecklist.
TheJune2015bankreconciliationlistedfourpayrollitemsasoutstandingpaymentsthatwere
notprocessedorsubmittedelectronicallyuntilJuly2015.
TheJune2015bankreconciliationidentifiedapayrolltransactionasclearingthebankinJune,
howeverthepaymentdidnotclearthebankuntilJuly2015.
Criteria: Per NMAC 6.20.2.14 Cash Control Standards, bank accounts shall be reconciled on a monthly
basis and school districts shall establish and maintain a cash management program to safeguard cash
andprovidepromptandaccuratereporting.
Effect:TheSchoolisnotproperlyrecordingcashtransactionsandreportingaccuratecashbalances.The
cash balance at yearend could be understated due to staledated items and items identified as
outstandingthatarenot.
Cause: The business manager records payroll transactions when payroll is processed, however, these
payments do not get submitted electronically until the subsequent month, and the amount of the
payment may differ. The business manager has encountered problems preparing the bank
reconciliationsintheaccountingsystemandhasnotbeenabletoresolvetheissues.
Recommendation:ThebusinessmanagershouldobtaintrainingorassistancefromAptaFundtoresolve
anyissues.Outstandingitemsshouldbereviewedmonthlyandresolvedinatimelymanner.Payments
shouldberecordedinthemonththeyoccur.
Managements Response: WHCS has been working with Aptafund to resolve the stale checksin
progress.Payrollexpendituresaredueonthe5thand10thofthefollowingmonth.Thiswasalso
Vol. II - 198
STATEOFNEWMEXICO
2015005BankAccountsandBankReconciliations(SignificantDeficiency)(Continued)
explainedtotheauditorduringtheexitconference.Thesearetherequiredpaymentsdatesfromthe
prospectivevendors.
WILLIAMW.&JOSEPHINEDORNCHARTERSCHOOL
Condition:Duringourreviewofasampleof10cashreceipts,wenotedthefollowingissues:
Onecashreceiptreceivedwasnotdepositedwithintwentyfourhours.
Onecashreceiptwasnotdocumentedcorrectlyandconsequentlytheauditorscouldnotverifythe
promptnessofthedeposit.
Criteria: NMAC 6.20.2 states that money received and receipted shall be deposited in the bank within
twentyfour (24) hours or one banking day. Section D of that same statute states that a cash receipts
journalistobeusedforeachfiscalyearbeginningJuly1andendingJune30,andistobepresentedtothe
schooldistrict'sauditorduringtheannualaudit.
Effect:WilliamW.&JosephineDornCharterSchoolwasnotincompliancewithStateStatute.Additionally
theSchoolhasexposeditselftopossiblemisappropriationofassets.
Cause:WilliamW.&JosephineDornCharterSchooldidnotmaintainacashreceiptslog.
Recommendation:EnsuretheWilliamutilizesacashreceiptslogtodocumentthedateandamountofeach
receiptandcreateaproceduretoensurethatallfundsaredepositedwithin24hoursofreceipt.
ManagementsResponse:TheSchoolhascreatedacashreceiptlogtodocumentthedateandamountof
eachreceiptcollectedbytheschool.Thiswillalsohelpensurethatallmoneyreceivedisdepositedwithina
24hourperiod.Administrativestaffandtheprincipalwillberesponsibleforensuringthatthisbecorrected.
2014002PersonnelFileMaintenance(NonComplianceinAccordancewiththeNewMexicoStateAudit
Rule)
ConditionDuringourreviewofasampleof25employeefiles,wenotedtwoinstanceswhereemployee
backgroundcheckswerenotavailablefortheauditorsreview.
Criteria: According to 2210.3.3 NMSA 1978, policies and procedures should be developed requiring
background checks on an applicant who has been offered employment with unsupervised access to
studentsatacharterschool.
Vol. II - 199
STATEOFNEWMEXICO
WILLIAMW.&JOSEPHINEDORNCHARTERSCHOOL(CONTINUED)
2014002PersonnelFileMaintenance(NonComplianceinAccordancewiththeNewMexicoStateAudit
Rule)(Continued)
Effect: Potential litigation exits as the William W. & Josephine Dorn Charter School is not performing
backgroundchecksrequiredbystatestatute.
Cause: The School did not properly complete and/or maintain employee background check
documentation.
Recommendation Ensure that the School reviews personnel files periodically to ensure that all the
requireddocumentshavebeenobtainedandthatthefilesarecomplete.
Managements Response: The School did make sure that all employees had a background check,
however,thebackgroundcheckswerenotprintedandplacedintheemployeefolder.Theschoolnow
knowshowtodownloadthebackgroundchecksandwillprintacopyandplaceitintheemployeefile.
Administrativestaffandtheprincipalwillberesponsibleforensuringthatthisbecorrected.
2014005 Documentation of Minutes (Noncompliance in Accordance with the New Mexico State
AuditRule)
Condition:DuringourreviewoftheminutesfortheGovernanceCouncil,wenotedthatformalminutes
werenotalwaysmaintained.Wenotedinstanceswheretheagendaswereusedastheminutesforthe
meeting.Additionally,minuteswerenotalwaysadequatelydetailed.
Criteria: Per NMSA 10151, the minutes shall include at a minimum the date, time, and place of the
meeting, the names of members in attendance and those absent, the substance of the proposals
consideredandarecordofanydecisionsandvotestakenthatshowhoweachmembervoted.
Effect:WilliamW.&JosephineDornCharterSchoolisnotincompliancewithStateStatute.
Cause:WilliamW.&JosephineDornCharterSchoolhashadseveraldifferentrecordersfortheminutes
andtheapplicablerequirementsarenotbeingfollowedconsistently.
Recommendation:WilliamW.&JosephineDornCharterSchoolshouldfollowtheopenmeetingactin
regardstodocumentingtheschoolsminutes.
ManagementsResponse:TheSchoolwillensurethattheboardminutesaremoredetailed.Governing
Councilwillberesponsibleforcorrectingtheminutes.
Vol. II - 200
STATEOFNEWMEXICO
WILLIAMW.&JOSEPHINEDORNCHARTERSCHOOL(CONTINUED)
2015001Excessof Expenditures over Budget (NonCompliance inAccordancewith theNewMexico

StateAuditRule)
Condition: William W. & Josephine Dorn Charter School had expenditure functions where actual
expendituresexceededbudgetaryauthoritybythefollowingamounts:
Operational(11000)
$22
K3Plus(27166)
OperationofPlant
$38
expenditureofafunctionshallnotbeallowed
Effect:WilliamW.&JosephineDornCharterSchoolexpendituresintheabovefunctionsexceededthe
totalapprovedbudgetedexpendituresby$22and$38.
actual results. As a result, measures were not taken to avoid the amount that actual expenditures
exceededtheapprovedbudgetsfortheWilliamW.&JosephineDornSchoolsOperationalandK3plus
funds.
Recommendation:Controlsshouldbeimplementedtoensurethatbudgetedamountsarecomparedto
actualonaregularbasisandthebudgeteffectivelyutilizedforcontrollingexpensesandmanagingcash
flow.
ManagementsResponse:TheSchoolwillensurethecontrolsarebeingfollowedandthatthebudgetis
beingreviewedonaregularbasis.TheschoolwillcreateBARsasneededtomakesurethattheactual
expenditures do not exceed the budget. The Business Manager will be responsible for ensuring the
Budgetiscorrect.
Vol. II - 201
STATEOFNEWMEXICO
SUMMARYSCHEDULEOFPRIORAUDITFINDINGS
2011001
2012005
FinancialCloseandReporting
ReviewofSecurityLogsandMonitoringof
ScheduledJobs
2013001
ErrorinFundingCalculationforState
EqualizationGrantsFunds
2013002
FundBalanceRestatement
2013003
ImproveOtherITGeneralControls
2013005
UntimelyReversions
2013006
FinalApprovedGrantApplicationNotPosted
toWebsite
JournalEntry
2014001
2014002
InternalControlsOverCashDisbursements
2014005
TimelyFilingofDataCollectionForm
2014008
CapitalAssets
2014009
AgencyFundDisbursements
2014010
DueDateofAuditReport
SEAMOE001
StateMOEProcessandProcedure
SEAMOE002
ViolationsofPEDs2007Policy
NewMexicoCertificationofCompliancewith
SEAMOE003
SEAMOEfor2010wasIncorrect
SEAMOE004
PEDs2007PolicyShouldbeUpdated
SEAMOE005
DocumentReviewandApprovalofState
MOE
SEAMOE006
CommunicationstoPartiesExternaltoPED
SEAMOE007
InformationNeededfromOtherState
Agencies
SEAMOE008
StandardizedApproachforSEAMOE
LEAMOE009
DocumentationofLEAMOEProcess
LEAMOE010
DocumentationandAssumptionof
ResponsibilitiesforLEAMOECompliancefor
SomeCharterSchools

FinancialCloseandReporting
2012002
2013002
CapitalAssets
2014003
ImproveGeneralITControls
2014004
InternalControlsOverCashDisbursements
2014006
PeriodofAvailability
2014007
Eligibility

2014001
InternalControlofCashDisbursements
Resolved
Resolved
Resolved
Resolved
Repeated
Repeated
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Repeated
Repeated
Resolved
Repeated
Resolved
Vol. II - 202
STATEOFNEWMEXICO
SUMMARYSCHEDULEOFPRIORAUDITFINDINGS(CONTINUED)
AcademyofTradesandTechnologyFoundation
2012002
FoundationInternalControlStructure
2013001
FoundationCompositionofBoard

AceLeadershipHighSchool
2014001
CompositionofBoard

2014001
NewMexicoEducationalRetirementBoard
andRetireeHealthCareActContributions
Testing

2014001
PersonnelFilesandPayrollApproval
2014002
TravelandPerDiem

AlbuquerqueSignLanguageAcademy
2014001
TravelandPerDiem
2014002
StaffQualifications

2011007
StateCashReport

2014001
TimelyDeposits
2014002
BudgetaryConditions

2014001
MileageReimbursements
2014002
AuthorizedRateofPay
2014003
PersonnelFiles
2014004
LackofSegregationofDuties

2014001
TimelyDeposits
2014002
2014003
AuditCommittee
2014004
SupportingDocumentation

AskAcademy
2013001
TimelyDeposits
Repeated
Repeated
Resolved
Resolved
Resolved
Resolved
Repeated
Repeated
Resolved
Repeated
Resolved
Repeated
Resolved
Resolved
Resolved
Repeated
Repeated
Repeated
Resolved
Repeated
Vol. II - 203
STATEOFNEWMEXICO
2013001
DispositionofCapitalAssets
2014001
EducationalRetirementBoard(ERB)and
RetireeHealthCare(RHC)Contributions
2014002
PayrollDocuments

2013001
Contracting
2013002
AuditCommittee
2014001
TravelandPerDiem
2014002
PersonnelFilesandBenefitsDocumentation
2014003
StaffQualifications
2014004
SegregationofDuties

2014001
TimelyDeposits
2014002
InternalControlStructure

2014001
CompliancewithBondCovenants
2014002
CompliancewithPayrollRecordkeeping
2014003
ViolationoftheNewMexicoAntiDonation
Clause

2009024
PEDCashReport
2011001
2011002
BudgetaryConditions
2011003
BankAccounts
2012003
ERBContributions
2013001
ProcurementCodeandRelatedContractwith
Vendor
2013002
IDEABCashManagement
2014001
LackofSegregationofDuties
2014002
RetireeHealthCareContributions
2014003
PurchaseOrders
2014004
TimelyDeposits
2014005

2014001
GrantCompliance
2014002
PurchaseOrdersSubsequenttoInvoice
2014003
Resolved
Resolved
Resolved
Resolved
Resolved
Repeated
Repeated
Repeated
Resolved
Repeated
Repeated
Resolved
Repeated
Repeated
Repeated
Repeated
Repeated
Repeated
Repeated
Resolved
Repeated
Repeated
Repeated
Repeated
Resolved
Repeated
Resolved
Repeated
Repeated
Vol. II - 204
STATEOFNEWMEXICO
2014001
TimelyDeposits
2014002
FinancialStatementPreparation
2014003
FoundationAccountReconciliations

2014001
2014002
PledgedCollateral

2014001
SubmissionofClaimReports
2014002
AuditCommittee

HorizonAcademyWest
2014001
PayrollTransactions
2014002
TimelyDeposits
2014003
2014004
BudgetAdjustmentRequests
2014005
Violation of the New Mexico AntiDonation
Clause

2013001
AuditCommittee/ExitConference
2014001
2014002
PledgedCollateralRequirements

J.PaulTaylorAcademy
2014001

2013002
2014001
TravelandPerDiem
2014002
2014003
PayrollandPersonnelFiles
2014004
Procurement

2014001
PurchaseOrdersSubsequenttoInvoice
2014002
EducationalRetirementBoardContributions
2014003
BudgetaryCondition

2014001
NegativeTotalNetPosition
Resolved
Resolved
Resolved
Repeated
Resolved
Resolved
Resolved
Repeated
Resolved
Resolved
Resolved
Repeated
Resolved
Repeated
Resolved
Repeated
Resolved
Resolved
Resolved
Repeated
Resolved
Repeated
Resolved
Resolved
Resolved
Vol. II - 205
STATEOFNEWMEXICO
LaTierraMontessoriSchoolfortheArtsandSciences
2014001
CashDisbursementsTransactionCycle
ControlDeficiencies

MastersProgram
2014001
2014002
ProcurementDocumentation
2014003
PersonnelFiles

2013002
Procurement
2014001
JournalEntryProcess
2014002
InternalControlEnvironment
2014003
NoncompliancewithCashDeposit
Requirements
2014004
ControlsoverCashDisbursementsCycle
2014005
ControlsOverPayrollDisbursementsCycle
2014006
CompliancewithPledgedCollateral
Requirements
2014007
ExpendituresinExcessofBudgetedAmounts

2014001

2014001
PurchaseOrderSubsequenttoInvoice
2014002

MontessoriElementary
2010030
BudgetaryConditions
2010031
BudgetAdjustmentRequests(BAR)

NewAmericaSchool
2012002
2014001
RHCContributions

NewAmericaSchoolLasCruces
2014001
2014002
TimelyDeposits

2014001
PledgedCollateralRequirements
2014002
2014003
DualSignaturesonChecks
2014004
PurchaseOrderSubsequenttoInvoice
Resolved
Repeated
Repeated
Repeated
Resolved
Resolved
Resolved
Repeated
Resolved
Resolved
Repeated
Repeated
Repeated
Repeated
Repeated
Resolved
Resolved
Repeated
Resolved
Repeated
Repeated
Resolved
Repeated
Repeated
Repeated
Vol. II - 206
STATEOFNEWMEXICO
NewMexicoConnectionsAcademy(Continued)
2014005
TimelyDeposits
2014006
BudgetaryConditions

2014001
AccountReconciliations
2014002
ExcessExpendituresOverBudget
2014003
DispositionofEquipment
2014004
PersonnelFilesandBenefitDeductions
2014005
CashDeposits

2014001
ProcurementCode
2014002
2014003
TravelandPerDiem

NorthValleyAcademy
2014001
DualSignatureonChecks
2014002
2014003
PledgedCollateral

RalphJBuncheAcademy
2009164
2014001
DualSignaturesonChecks
2014002
2014003
PersonnelFiles
2014004
BudgetAdjustmentRequests

2014001
PersonnelFilesandBenefitsDocumentation
2014002
TransportationFunds

2014001
CashReceipts
2014002
PersonnelFiles
2014003

2014001
PerDiemandMileageAct

SouthwestAeronautics,Mathematics,&ScienceAcademy
2014001
LackofInternalControlsoverAccounting
Records
2014002
StateAuditRule
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Repeated
Resolved
Resolved
Resolved
Resolved
Repeated
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Resolved
Repeated
Resolved
Repeated
Repeated
Repeated
Vol. II - 207
STATEOFNEWMEXICO
2014001
Records
2014002
StateAuditRule

2014001
Records
2014002
StateAuditRule

2014001
Records
2014002
StateAuditRule

TaosAcademy
2014001
ProcurementCode

2014001
TimelyDeposits

2009003
2013002
ProcurementCode
2014001
2014002
PersonnelFileMaintenance
2014003
TimelyDeposits

TierraAdentro
2014001
InternalControlStructureandPrepayment
forServices

2013002
2014001
2014002
StateAuditorNotification
2014003
2014004
BudgetaryConditions

2013001
TimelyDeposits
2013004
TravelandPerDiem
2013008
EmployeeContract
2014001
Repeated
Repeated
Repeated
Repeated
Repeated
Repeated
Repeated
Resolved
Repeated
Repeated
Repeated
Resolved
Resolved
Repeated
Repeated
Repeated
Resolved
Repeated
Repeated
Repeated
Repeated
Resolved
Repeated
Vol. II - 208
STATEOFNEWMEXICO
WalatowaHighCharterSchool(Continued)
2014002
PayrollTransactions

2014001
TimelyDeposits
2014002
PersonnelFileMaintenance
2014003
ProcurementCode
2014004
BudgetAdjustmentRequests(BAR)
2014005
DocumentationofMinutes
Repeated
Repeated
Repeated
Resolved
Resolved
Repeated
Vol. II - 209
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
DateofExitConference:
November25,2015
RepresentingPublicEducation
Department:
MarkGonzales
MarianRael
EileenMarrojoGallegos
PaulAgular
HannaSkandera
MichaelMulligan
AuditandAccountingSupervisor
ChiefFinancialOfficer
DirectorofOperations
DeputySecretary,Financeand
Operations
SecretaryofEducation
AdministrativeServicesDirectorof
DVR
ChrisGarner
MirandaMascarenes
Partner
AuditSupervisor
RepresentingAxiomCPAsandBusiness
AdvisorsLLC:
DepartmentofVocationalRehabilitation
November25,2015
RepresentingDepartmentofVocation
Rehabilitation:
MarkGonzales
MarianRael
EileenMarrojoGallegos
PaulAgular
HannaSkandera
MichaelMulligan
AuditandAccountingSupervisor
ChiefFinancialOfficer
Operations
SecretaryofEducation
AdministrativeServicesDirectorof
DVR
ChrisGarner
MirandaMascarenes
Partner
AuditSupervisor
AdvisorsLLC:
Vol. II - 210
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingAcademyofTradesand
Technology:
RepresentingPattilloBrownandHill:
RepresentingACELeadershipHigh
School:
November19,2015
HaroldField
LeeMaxwell
LoriLajacno
AlMartinez
JohnGordon
BoardMember
BoardMember
Principal
BusinessManager
Partner
November20,2015
SamHatchell
ClarkCagle
ToriStephensShauger
LeslieLujan
DeniseWadkins
AngelaDavis
JohnGordon
DavidBaca
BoardPresident
BoardTreasurer
HeadAdministrator/Principal
BusinessManager/FinanceDirector
BoardTreasurerfortheFoundation
FoundationContracted
Accountant
Partner
SeniorAuditor
Vol. II - 211
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingAlbuquerqueInstitutefor
Mathematics&Science:
AdvisorsLLC:
November30,2015
JoleneJaramillo
StevenSmith
AndyVikta
KathySandoval
BusinessManager
BoardMember
BoardMember
Director
ChrisGarner
Partner
November25,2015
SeanFry
SalihAykac
PrinceThomas
MehmetSu
ArmandoSanchez
BusinessManager
Principal
AuditCommitteeMember
GoverningCouncilMember
Principal
November30,2015
RaphaelMartinez
RubyChavez
KimberlySilva
ArmandoSanchez
ExecutiveDirector
BusinessManager
BoardChair
Principal
RepresentingAlbuquerqueSchoolof
Excellence:
RepresentingLoftisGroupLLC:
RepresentingTheAlbuquerqueSign
LanguageAcademy:
Vol. II - 212
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingAldoLeopoldHighSchool:
November23,2015
HarryBrowne
MattieEagle,CPA
DavidPeck
KenStone
JohnManning
BusinessManager
CommunityRepresentative
GoverningCouncilChair
Partner
December1,2015
MarkHartshorne
CasildaProvencio
BillBrogan
JulietteSanchez
PaulaLowe
Principal
BusinessManager
Partner
November5,2015
CliffWintrode
LeslieAndrews
BettySeeley
BoardMember
BoardMember
DirectorofFinance
AdvancementCoordinatorfor
Foundation
SeniorAuditor
RepresentingAlmaDArteCharterHigh
School:
RepresentingAmyBiehlCharterHigh
School:
AldisPhilipbar
DavidBaca
Vol. II - 213
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingAnthonyCharterSchool:
December1,2015
MikeVigil
Dr.AbeArnendariz
DeniseMarnalego
RudyFranco
BusinessManager
Principal
OfficeManager
BoardPresident
AskAcademy
JohnManning
Partner
RepresentingTheAskAcademy:
AdvisorsLLC:
November24,2015
MichaelSmith
DanielBarbour
MichaelVigil
JustineRoybal
BoardChair
AssistantGM
BusinessManager
BusinessManager
MonicaYapel
AuditManager
October22,2015
RebekahRunyan
TaniArness
CharleenAyres
EricOnsurez
ArmandoSanchez
BusinessManager
ExecutiveDirector/Principal
Principal
RepresentingCesarChavezCommunity
School:
Vol. II - 214
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingCienAguasInternational
School:
November30,2015
MichaelRodriguez
RubyChavez
LisaMeyer
ArmandoSanchez
SchoolDirector
BusinessManager
GovernanceCouncil
Principal
November3,2015
DonnaEldredge
AngieLerner
TaniaTriolo
MichaelReeves
AllysonPierce
MelodyChavez
ArmandoSanchez
HeadAdministrator
BusinessManager
GovernanceCouldChair
GovernanceCouncilTreasurer
GovernanceCouncil
GovernanceCouncil
Principal
RepresentingCoralCommunityCharter:
RepresentingCottonwoodClassical
PreparatorySchool:
AdvisorsLLC:
November24,2015
NickWilliams
MichaelVigil
GoverningCouncilTreasurerand
BusinessManager
MonicaYapel
AuditManager
Vol. II - 215
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingCreativeEducation
PreparatoryInstitute:
November23,2015
PamRomero
ChristopherHotchkiss
SuzySanchez
JohnGordon
DavidBaca
BoardMember
ChiefExecutiveOfficer
BusinessManager
Partner
SeniorAuditor
November10,2015
GavinSosa
SandyBerry
TalitaSalinsky
ClarenceHogue
DeannaGomez
ArmandoSanchez
AssistantDirectorofOperations
President/AuditCommittee
BoardMember/AuditCommittee
BusinessManager
Principal
November18,2015
DennisHodges
KayGirdner
LoriWebster
DavidBaca
BoardChair
BusinessManager
DevelopmentDirector/Foundation
SeniorAuditor
DreamDinCharterSchool
RepresentingDreamDinCharter
School:
RepresentingEastMountainHigh
School:
Vol. II - 216
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingEstanciaValleyClassical
Academy:
November19,2015
HarlanLawson
TimTheiry
HollyMassey
WilliamAllenMackrain
JaymeNykanen
ArmandoSanchez
ExecutiveDirector
BusinessManager
Principal
November20,2015
MichaelVigilII
KyleHunt
JustinBaiardo
VickyMcCarthy
LeadBusinessManager
BusinessManager
Founder/AcademicDirector
Principal
JimCox
RebekahBoron
AuditManager
StaffAccountant
November17,2015
MaryLouiseSena
LindaBradley
GeorgeLucero
NadineTorres
MikeVigilII
AshleyRodriguez
DavidBaca
BoardMember
BoardMember
BoardMember
ExecutiveDirector
BusinessManager
BusinessManager
SeniorAuditor
ExploreAcademy
RepresentingExploreAcademy:
AdvisorsLLC:
RepresentingGilbertL.SenaCharter
HighSchool:
Vol. II - 217
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
GREATAcademy
RepresentingTheGreatAcademy:
November19,2015
HelenBrown
JasperMatthews
ChenyuLiu
JohnGordon
BoardMember
ExecutiveDirector
BusinessManager
Partner
RepresentingHealthLeadershipHigh
School:
November30,2015
BlancaLopez
DavidVigil
NormaValdez
ArmandoSanchez
ExecutiveDirector
BusinessManager
GovernanceCouncilTreasurer
Principal
RepresentingHealthScienceAcademy:
November25,2015
EileenMarrojosGallegos DirectorofOperations
PaulAgular
Operations
AdvisorsLLC:
ChrisGarner
Partner
Vol. II - 218
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
HorizonAcademyWest
RepresentingHorizonAcademyWest:
October28,2015
CarrieRodriquez
RuthHoover
ShalonDElia
CynthiaCarter
DianaCordova
ArmandoSanchez
OfficeManager
Principal
BusinessManager
Principal
November12,2015
SakiaKing
SeanJoyce
ElizabethRomero
DianaHammond
JohnGordon
BoardMember
Principal
BusinessManager
AssistantBusinessManager
Partner
November30,2015
VickiChavez
AineGarciaPost
JohnManning
BusinessManager
Principal
Partner
RepresentingTheInternationalSchool
atMesaDelSol:
J.PaulTaylorAcademy
RepresentingJ.PaulTaylorAcademy:
Vol. II - 219
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingLaAcademiaDolores
Huerta:
RepresentingPatilloBrownandHill:
November24,2015
JenniferAllen
DianaDiaz
JulietteSanchez
DavidBaca
BoardTreasurer
AssistantPrincipal
BusinessManager
SeniorAuditor
RepresentingLaJicaritaCommunity
School:
November24,2015
CinyAresenault
SarahPina
MaisaSchoenhaum
ArmandoSanchez
SchoolDirector
BusinessManager
GovernanceCouncilMember
Principal
RepresentingLaPromesaEarlyLearning
Center:
November23,2015
IreneByars
DorindaEspinoza
Dr.AnaleeMaestas
RhondaCordova
DavidBaca
BoardMember
BoardMember
ExecutiveDirector
BusinessManager
SeniorAuditor
Vol. II - 220
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingLaResolanaLeadership
Academy:
November13,2015
PaulaFarkas
JunstinaMontoya
JustineRoybal
DavidBaca
BoardMember
Principal
BusinessManager
SeniorAuditor
LaTierraMontessoriSchooloftheArtsandSciences
RepresentingLaTierraMontessori
SchooloftheArtsandSciences:
November25,2015
JulieAnnHillClapp
EdwinFernandez
JohnSena
SuzanneLynne
DeannaGomez
BoardPresident
CommunityMember
ParentCommunity
Administrator
ContractedFinance
Director/BusinessManagement
Consultant
ChrisGarner
Partner
November18,2015
JohnSoggins
JakubSvec
AnnaSalzman
MaryMumford
JohnGordon
BoardMember
BoardMember
HeadofSchool
BusinessManager
Partner
AdvisorsLLC:
MASTERSProgram
RepresentingTheMASTERSProgram:
Vol. II - 221
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
BoardMember
BoardPresident
November25,2015
NancyOBryan
DeborahBennett
Anderson
JanetteArchuleta
DeannaGomez
AdvisorsLLC:
Director
ContractedFinance
Director/BusinessManagement
Consultant
ChrisGarner
Partner
November20,2015
JohnDunphy
PattiGladstone
GlennaVoight
PatrickKelly
PaulaLowe
BoardPresident
Principal
BusinessManager
Partner
RepresentingMcCurdyCharterSchool:
RepresentingMediaArtsCollaborative
CharterSchool:
MissionAchievementandSuccessCharterSchool
RepresentingMissionAchievementand
SuccessCharterSchool:
November19,2015
BruceLangston
JoAnnMyers
AmberPea
JohnGordon
BoardMember
Principal
BusinessManager
Partner
Vol. II - 222
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
MontessoriElementarySchool
RepresentingTheMontessori
ElementarySchool:
November12,2015
JeffLi
MaryJaneBesante
StanAlbrycht
DavidBaca
BoardMember
Principal
BusinessManager/CFO
SeniorAuditor
NewAmericaSchool
RepresentingNewAmericaSchool:
November2,2015
CraigCook
LorellaLovato
LaTriciaMathis
MikeVigilII
JuanVigil
ArmandoSanchez
ChiefBusinessOfficer
Principal
BusinessManager
Principal
RepresentingNewAmericaSchoolof
LasCruces:
November23,2015
MargaritaPorter
VeronicaGonzalez
JohnMunoz
MikeVigilII
PaulaLowe
Principal
GoverningCouncilPresident
BusinessManager
Partner
Vol. II - 223
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingNewMexicoConnections
Academy:
November19,2015
CarloLucero
JerrySchalow
MichaelJ.Vigil
JustineRoybal
DavidBaca
BoardMember
BoardMember
BusinessManager
BusinessManager
SeniorAuditor
RepresentingNewMexicoInternational
School:
November30,2015
ToddNause
CorinneTeller
EdwardReyes
ArmandoSanchez
HeadofSchool
BusinessManager
GovernanceCouncilChair
Principal
October29,2015
CindyMontoya
JoleneJaramillo
SherryThompson
ArmandoSanchez
HeadofSchool
BusinessManager
GovernanceCouncilChair
Principal
RepresentingNewMexicoSchoolfor
theArts:
Vol. II - 224
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
NorthValleyAcademy
RepresentingNorthValleyAcademy:
November19,2015
ScottFitzgerald
RayBarton
SusanMcConnell
SaraPia
DavidBaca
BoardPresident
BoardMember
Principal
BusinessManager
SeniorAuditor
RalphJ.BunchAcademy
RepresentingRalphJ.BunchAcademy:
November25,2015
EileenMarrojosGallegos
Operations
PaulAgular
Representing Axiom CPAs and Business

AdvisorsLLC:
ChrisGarner
RepresentingRedRiverValleyCharter
School:
Partner
November20,2015
KatyPierce
KarenPhillips
DomingoSanchez
LonnieJuarez
GoverningCouncilTreasurer
Principal
BusinessManager
Principal
Vol. II - 225
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
November13,2015
FelixGarcia
MichaelVigil
AmberPena
KennyWang
GerritKruidhof
MargaretCassidyBaca
ArmandoSanchez
Director/HeadAdministrator
BusinessManager
BusinessManager
AuditCommittee
Member/GoverningCouncil
GoverningCouncil
Director
Principal
RepresentingSchoolofDreams
Academy:
AdvisorsLLC:
November23,2014
MikeOgas
KennethGriego
GeriBennett
Principal
BoardMember
BusinessManager
ChrisGarner
Partner
RepresentingSouthValleyPreparatory
School:
November23,2015
MonicaAhuilar
CharlotteTrujillo
RhondaCordova
JohnGordon
BoardMember
Principal
BusinessManager
Partner
RepresentingSageMontessoriCharter
School:
Vol. II - 226
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingSouthwestAeronautics,
MathematicsandScienceAcademy:
AdvisorsLLC:
November30,2015
LarryKenny
RichBrody
CoreenCarrillo
RondaJoyce
KirkHartom
KyleHunt
MichaelVigil
GovernanceCouncilPresident
Principal
BusinessManager
HeadAdministrator
BusinessManager
BusinessManager
ChrisGarner
Partner
RepresentingSouthwestIntermediate
LearningCenter:
AdvisorsLLC:
November30,2015
JudyChapman
RichBrody
KirkHartom
SeanFry
JosephLucero
MichaelVigil
HeadAdministrator
BusinessManager
BusinessManager
BusinessManager
ChrisGarner
Partner
Vol. II - 227
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingSouthwestPrimary
LearningCenter:
RepresentingAxiomCPAsand
BusinessAdvisors:
November30,2015
KenChapman
RichBrody
RondaJoyce
KirkHartom
SeanFry
MichaelVigil
JosephLucero
BusinessManager
HeadAdministrator
BusinessManager
BusinessManager
BusinessManager
ChrisGarner
Partner
November30,2015
VicFantozzi
RichBrody
KirkHartom
SeanFry
MichaelVigil
JosephLucero
HeadAdministrator
BusinessManager
BusinessManager
BusinessManager
ChrisGarner
Partner
RepresentingSouthwestSecondary
LearningCenter:
AdvisorsLLC:
Vol. II - 228
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
TaosAcademy
RepresentingTaosAcademy:
November13,2015
TracisFiliss
DeannaGomez
BillMcDonald
KarenShannon
Principal
BusinessManager
GoverningCouncil/Audit
CommitteeMember
ArmandoSanchez
Principal
RepresentingTaosIntegratedSchoolof
theArts:
November12,2015
RichardGreywold
DeannaGomez
MatthewSprigs
AnnetteBowden
ChrisPieper
ArmandoSanchez
Principal
BusinessManager
Principal
RepresentingTaosInternational
CharterSchool:
November9,2015
NadineVigil
JustineRoybal
MichelleAdeyta
MarilynMontoya
ArmandoSanchez
SchoolPrincipal
BusinessManager
OfficeManager
VicePresidentofGoverningCouncil
Principal
Vol. II - 229
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingTheLearningCommunity
CharterSchool:
TierraAdentro
November19,2015
EdwinFernandez
ArmandoSanchez
Consultant
Principal
RepresentingTierraAdentro:
November10,2015
VeronicaTorres
AmberPena
MichaelVigil
SandyMartinez
ChrisPieper
ArmandoSanchez
ExecutiveDirector
BusinessManager
BusinessManager
Principal
UpliftCommunitySchool:
November24,2015
AnnDoucette
JamesCammon
SeanD.Fry
DavidBaca
BoardChair
Director
BusinessManager
SeniorAuditor
RepresentingUpliftCommunitySchool:
Vol. II - 230
STATEOFNEWMEXICO
EXITCONFERENCE
June30,2015
RepresentingWalatowaHighCharter
School:
November6,2015
ArrowWilkinson
KatherineToya
FrancineP.Garcia
RichardWasilewski
ArmandoSanchez
Superintendent
BusinessManager
GearUPNMCoordinator
Principal
RepresentingWilliamW.&Josephine
DornCharterCommunitySchool:
RepresentingLoftisGroup:
November10,2015
EllenEsquibelBellamy
AmberPena
PrestonSanchez
ArmandoSanchez
Director
BusinessManager
BoardMember
Principal
The financial statements presented in this report have been prepared by the independent
auditor.However,theyaretheresponsibilityofmanagement,asaddressedintheIndependent
AuditorsReport.
Vol. II - 231
STATE OF NEW MEXICO

June 30, 2015
VOLUME III

VOLUME TABLE OF CONTENTS

VOLUME III

Table of Contents ............................................................................................................................... Vol. III 1


Statement of Net Position .............................................................................................................. Vol. III 7

Statement of Activities .................................................................................................................... Vol. III 8

Balance Sheets Governmental Funds ................................................................................... Vol. III 9

to the Statement of Net Position ............................................................................................... Vol. III 12

in Fund Balances (Deficit) Governmental Funds ........................................................... Vol. III 13

Changes in Fund Balances (Deficit) to Statement of Activities ................................... Vol. III 16

Statement of Fiduciary Assets and Liabilities Agency Funds ...................................... Vol. III 17

Statement of Changes in Assets and Liabilities Agency Funds ................................... Vol. III 18

Notes to Financial Statements ..................................................................................................... Vol. III 19

Schedule of Schools Proportionate Share of Net Pension Liability ............................ Vol. III 26

Schedule of Schools Contributions ........................................................................................... Vol. III 27

Schedule of Budgetary Comparisons (Budgetary Basis) .................................................. Vol. III 28

Schedule of Collateral Pledged by Depository for Public Funds ................................... Vol. III 42

Schedule of Cash Accounts ............................................................................................................ Vol. III 43

Cash Reconciliation........................................................................................................................... Vol. III 44




Vol. III - 1


ACE LEADERSHIP HIGH SCHOOL (CONTINUED)














ALBUQUERQUE INSTITUTE FOR MATHEMATICS & SCIENCE






Vol. III - 2


ALBUQUERQUE INSTITUTE FOR MATHEMATICS & SCIENCE (CONTINUED)




















Vol. III - 3


ALBUQUERQUE SCHOOL OF EXCELLENCE (CONTINUED)





















Vol. III - 4


ALBUQUERQUE SIGN LANGUAGE ACADEMY (CONTINUED)



ALDO LEOPOLD HIGH SCHOOL
















Vol. III - 5


ALMA DARTE CHARTER HIGH SCHOOL
















Vol. III - 6
STATEOFNEWMEXICO
AcademyofTrades&Technology
StatementofNetPosition
June30,2015
CurrentAssets:
Receivables
DuefromOtherGovernments
Deposits
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Vehicles
TotalNoncurrentAssets
$318,187
43,950
1,500
363,637
1,877,170
67,361
353,720
(641,537)
1,656,714
TotalAssets
2,020,351
112,179
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
CompensatedAbsences
113,846
32,012
16,744
70,815
233,417
NoncurrentLiabilities:
LongTermDebt
NetPensionLiability
TotalNoncurrentLiabilities
805,954
1,465,223
2,271,177
TotalLiabilities
2,504,594
364,200
NETPOSITION
Restricted
779,945
110,082
(1,626,291)
TotalNetPosition
$(736,264)
Theaccompanyingnotesareanintegralpartofthesefinancialstatements
Vol. III - 7
STATEOFNEWMEXICO
StatementofActivities
ForTheYearEndedJune30,2015
ProgramRevenues
Chargesfor
Service
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Governmentalactivities:
Instruction
$579,031
85,375
(493,656)
SupportServices:
Students
GeneralAdministration
SchoolAdministration
155,613
18,001
236,303
(155,613)
(18,001)
(236,303)
188,707
343,123
202,654
49,194
21,601
28,259
202,427
31,588
(188,707)
(343,123)
(227)
(49,194)
(21,601)
3,329
7,571
99,893
92,322
$1,830,057
319,390
99,893
(1,410,774)
Expenses
CentralServices
Operation&MaintenanceofPlant
CommunityServicesOperations
OtherSupportServices
FoodServices
FacilitiesMaterials,Supplies&Other
Services
TotalGovernmentalActivities
GeneralRevenues:
PropertyTaxes
Miscellaneous
$99,755
1,426,715
42,001
1,568,471
ChangeinNetPosition
157,697
NetPositionBeginningofYear
Restatement
NetPosition,asRestated
906,702
(1,800,663)
(893,961)
Netposition,Ending
$(736,264)
Vol. III - 8
STATEOFNEWMEXICO
BalanceSheetsGovernmentalFunds
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Deposits
TotalAssets
LIABILITIESANDFUNDBALANCES
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalances(Deficit)
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned(Deficit)
TotalFundBalance(Deficit)
TotalLiabilitiesandFundBalances(Deficit)
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
IDEAB
Entitlement
24106
$131,390
13,392
6,740

60,376
1,500
11,277
4,808

$193,266
13,392
6,740
11,277
4,808
$33,680
26,870

60,550
3,834
7,443
11,277

974
3,834
4,808

132,716
132,716
13,392

13,392
6,740
6,740
$193,266
13,392
6,740
11,277
4,808
Vol. III - 9
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
TitleISchool
Improvement
24162
Youth
Conservation
Corp
28133
Grads
Instruction
28190
PublicSchool
CapitalOutlay
31200
334
31
2,482
21,022

31
2,482
21,022
334
31
31
2,482
2,482

21,041
21,041
334
334

(19)
(19)
31
2,482
334
2012SB66
StudentLibrary
27107
21,022
Vol. III - 10
STATEOFNEWMEXICO
BalanceSheetsGovernmentalFunds(Continued)
June30,2015
HB33Capital
Improvements
31600
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Deposits
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned(Deficit)
SB9Capital
Improvements
31700
(Unaudited)
Foundation
Total
$166,331

318,187
1,188

3,142

43,950
60,376
1,500
$167,519
3,142
424,013
$80,166

80,166

545
545

25,000
25,000
113,846
32,012
60,376
206,234

87,353

87,353

2,597

2,597

(25,000)
(25,000)
13,392
6,740
89,950
107,697
217,779
$167,519
3,142
424,013
Vol. III - 11
STATEOFNEWMEXICO
ReconciliationoftheBalanceSheetsofGovernmentalFundstotheStatementofNetPosition
June30,2015
FundBalanceTotalGovernmentalFunds
$217,779
NetPositionaredifferentbecause:
Capitalassetsusedingovernmentalactivitiesarenotfinancial
resourcesand,therefore,arenotreportedinthefunds.
CapitalAssets
2,298,251
(641,537)
1,656,714
Definedbenefitpensionplandeferredoutflowsarenot
funds.
Longtermliabilitiesarenotdueinthecurrentperiodand,
therefore,arenotreportedinthefunds.
LongTermDebt
ChangesinNetPensionLiability
CompensatedAbsences
112,179
(876,769)
(1,465,223)
(16,744)
(2,358,736)
Definedbenefitpensionplandeferredinflowsarenot
dueandpayableinthecurrentperiodand,therefore,
arenotreportedinthefunds.
NetPositionTotalGovernmentalActivities
(364,200)
$(736,264)
Vol. III - 12
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesInFundBalances(Deficit)
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
MiscellaneousIncome
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
IDEAB
Entitlement
24106
$
1,294
1,426,715

1,428,009

8,111

8,111

31,588

31,588
41,559
41,559

27,834

27,834
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
OtherSupportServicesOperations
CommunityServicesOperation
CapitalOutlay
TotalExpenditures
541,365
5,093
41,334
27,834
153,351
27,165
256,360
188,707
271,443
12,747

1,451,138

5,093

28,259

28,259
225
41,559

27,834
Excess(Deficiency)ofRevenues
Over(Under)Expenditures
(23,129)
3,018
3,329
NetChangesinFundBalances
(23,129)
3,018
3,329
FundBalances(Deficit)BeginningofYear
155,845
10,374
3,411
FundBalances(Deficit)EndofYear
$132,716
13,392
6,740
Vol. III - 13
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
2012SB66
StudentLibrary
27107
Youth
Conservation
Corp
28133
Grads
Instruction
28190
PublicSchool
CapitalOutlay
31200
31
31
2,482
2,482

64

64

202,427

202,427
4,000
4,000

99,893

99,893
31
2,482
10,608
31
2,482
10,608

202,429

202,429
4,000
4,000

99,893
99,893
(10,608)
64
(2)
(10,608)
64
(2)
10,608
(64)
(17)
(19)
TitleISchool
Improvement
24162
Vol. III - 14
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesInFundBalances(Deficit)Continued
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
MiscellaneousIncome
TotalRevenues
HB33Capital
Improvements
31600
SB9Capital
Improvements
31700
(Unaudited)
Foundation
Total
$ 64,694

64,694
35,061

35,061

42,001
42,001
99,755
1,294
1,741,210
103,494
42,001
1,987,754
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
CapitalOutlay
TotalExpenditures

628,747

21,788
21,788

32,328
32,328

49,194

49,194
157,351
27,165
256,360
188,707
271,443
12,747
49,194
28,259
202,654
154,009
1,976,636
42,906
2,733
(7,193)
11,118
42,906
2,733
(7,193)
11,118
44,447
(136)
(17,807)
206,661
$87,353
2,597
(25,000)
217,779
Vol. III - 15
STATEOFNEWMEXICO
ReconciliationoftheStatementofRevenues,Expenditures,andChanges
inFundBalances(Deficit)ofGovernmentalFundstotheStatementofActivities
NetChangeinFundBalanceTotalGovernmentalFunds
$11,118
ChangeinCompensatedAbsences
(2,744)
Capitaloutlaystopurchaseorbuildcapitalassetsarereportedin
governmentalfundsasexpenditures.However,forgovernmentalactivities
thosecostsareshownintheStatementofNetPositionandallocatedover
theirestimatedusefullivesasannualdepreciationexpensesinthe
StatementofActivities.Thisistheamountbywhichcapitaloutlayexceeds
depreciationfortheperiod
CapitalOutlays
DepreciationExpense
38,531
(80,534)
(42,003)
Theissuanceoflongtermdebt(e.g.,bonds,notes,leases)providecurrent
financialresourcestogovernmentalfunds,whiletherepaymentofthe
principaloflongtermdebtconsumesthecurrentfinancialresourcesof
governmentalfunds.Neithertransaction,however,hasanyeffectonnet
position.
PaymentofNotesPayable
83,419
107,907
191,326
ChangeinNetPositionTotalGovernmentalActivities
$157,697
Vol. III - 16
STATEOFNEWMEXICO
StatementofFiduciaryAssetsandLiabilitiesAgencyFunds
June30,2015
Agency
ASSETS
CashinBank
$7,450
TotalAssets
LIABILITIES
TotalLiabilities
$7,450
$7,450
$7,450
Vol. III - 17
STATEOFNEWMEXICO
ScheduleofChangesinAssetsandLiabilitiesAgencyFunds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$ 7,775
1,754
2,079
7,450
$7,775
1,754
2,079
7,450
$ 7,775
1,754
2,079
7,450
$7,775
1,754
2,079
7,450
Vol. III - 18
STATEOFNEWMEXICO
NotestotheFinancialStatements
June30,2015

CapitalAssets.Capitalassetspurchasedoracquiredarecarriedathistoricalcostorestimated
historical cost. Contributed assets are recorded at the fair market values as of the date
received.Additions,improvementsandothercapitaloutlaysthatsignificantlyextendtheuseful
lifeofanassetarecapitalized.Othercostsincurredforrepairsandmaintenanceareexpensed
asincurred.TheAcademyofTrades&Technologyscapitalizationpolicy(i.e.,thedollarvalue
abovewhichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.TheAcademy
ofTrades&Technologydoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
withnosalvagevalue.TheAcademyofTrades&TechnologyutilizesInternalRevenueService
guidelinestoestimatetheusefullivesoncapitalassetsasfollows:
Furniture,FixturesandEquipment
BuildingsandImprovements
5years
40years
CapitalassetsfortheAcademyofTrades&TechnologyarerecordedintheStatementofNet
Position.
Pensions.Forpurposesofmeasuringthenetpensionliability,deferredoutflows ofresources
and deferred inflows of resources related to pensions, and pension expenses, information
about the Fiduciary Net Position of the New Mexico Educational Retirement Board (ERB) and
additions to/deductions from ERBs Fiduciary Net Position have been determined on the
economic resources measurement focus and accrual basis of accounting. For this purpose,
benefitpayments(includingrefundsofemployeecontributions)arerecognizedwhendueand
payableinaccordancewiththebenefitterms.Investmentsarereportedatfairvalue.
NOTE2.CAPITALASSETS
A summary of capital assets and changes occurring during the year ended June 30, 2015
follows:
Vol. III - 19
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS(CONTINUED)
CapitalAssetsbeingDepreciated:
Vehicles
Total
Furniture,fixturesandequipment
Vehicles
Buildingandimprovements
Total
CapitalAssets,Net
Balance
Balance
June30,2014 Additions
Deletions
June30,2015
$
315,189
38,531
353,720
67,361
67,361
1,877,170
1,877,170
2,259,720 38,531
2,298,251
(302,756)
(12,907)
(315,663)
(58,507)
(8,854)
(67,361)
(199,740)
(58,773)
(258,513)
(561,003)
(80,534)
(641,537)
$ 1,698,717 (42,003)
1,656,714
Depreciation expensed for the year ended June 30, 2015 was expensed to the following
functions:
Operations/PlantMaintenance
Total
8,854
71,680
80,534
NOTE3.COMMITMENTSANDLIABILITIES
The Academy of Trades & Technology leased equipment and facilities under longterm
cancelable operating leases. Rental expense for the year ended June 30, 2015 was $206,881.
TheAcademyofTrades&Technologysminimumfuturepaymentsonthisleaseareasfollows:
YearEndingJune30:
2016
2017
2018
2019
2020
20212025
Total
204,560
204,560
204,560
204,560
204,560
201,331
1,224,131
Vol. III - 20
STATEOFNEWMEXICO
June30,2015
NOTE3.COMMITMENTSANDLIABILITIES(CONTINUED)
In December 2011, the Academy of Trades and Technology Foundation (ATT Foundation)
entered into a lease to purchase agreement with the school for the purchase of all of the
buildingsandtheproperty.Asaresultoftheagreement,theATTFoundationrecordedanote
receivablefor$1,670,000.AtJune30,2015thebalanceonthenotereceivablewas$1,059,123
includinginterestat8%.ThenotereceivablewastobepaidtotheATTFoundationoveraten
year period. As of June 30, 2015, the capital lease obligation was $1,059,123. The note
receivable and capital lease obligation have been eliminated due to the consolidation of the
blendedcomponentunit.
The following is an analysis of the leased property under capital leases by major classes
includedinsummaryofcapitalassets
ClassesofProperty
Building
Less:Accumulated
depreciation
AssetBalance
$1,877,170
(258,513)
$1,618,657
ThetotaloutstandinglongtermdebtasofJune30,2015isasfollows:
Mortgagepayabletobanksecuredbybuildingandland;
interestatbanksrate7%dueinmonthlyinstallmentsof
$10,851;maturingJune4,2026
Less:currentmaturities
$876,769
(70,815)
$805,954
Theaggregateamountsofprincipalmaturitiesofmortgagepayableareasfollows:
2016
2017
2018
2019
2020
20212025
20262029
Total
$70,815
75,933
81,423
87,309
93,621
456,817
10,851
$876,769
Vol. III - 21
STATEOFNEWMEXICO
June30,2015
TheAcademyofTrades&Technologyhadacompensatedabsencesbalanceof$14,000atthe
beginningofthefiscalyear.Additionstothebalancewere$2,744whichresultedinanending
balanceof$16,744.Allofthisbalanceisconsideredtobecurrent.
NOTE4.DEFICITFUNDBALANCE
ThefollowingfundhadadeficitfundbalanceatJune30,2015:
YouthConservationCorp28133 $
19
TheAcademyofTrades&Technologyisaddressingthenegativefundbalanceandisplanning
ontakingtheappropriateactionstoeliminatethenegativebalance.
NOTE5.RELATEDPARTYTRANSACTIONS
The Academy of Trades & Technology created a Foundation in 2010 to purchase the building
the school resides in. The Foundation is considered a component unit of the Academy of
Trades & Technology and is presented as a blended component unit. Academy Trades and
TechnologyiscurrentlyindisputewiththeFoundationoverthebuildinglease,thedisputewill
likelyinvolvesomelegalactionbytheschool.
For the year ended June 30, 2015 it was noted that the Academy of Trades and Technology
Foundation paid $7,063 in accounting fees to the company owned by the President and only
boardmemberoftheAcademyofTradesandTechnologyFoundation.
NOTE6.PENSIONPLANEDUCATIONALRETIREMENTBOARD
Theinformationcontainedwithinthisdisclosurerepresentsthepensioninformationspecificto
the Academy of Trades & Technology and does not include general disclosure information
pertaining to the New Mexico Educational Employees Retirement Plan. General disclosure
informationincludingplandescription,benefitsprovided,applicableactuarialassumptions,and
location for additional information about the New Mexico Educational Retirement Boards
fiduciarynetpositioncanbefoundwithinthebasicfinancialstatementsofthePublicEducation
Department.
Vol. III - 22
STATEOFNEWMEXICO
June30,2015
NOTE6.PENSIONPLANEDUCATIONALRETIREMENTBOARD(CONTINUED)
Contributions. The contribution requirementsof definedbenefit plan membersand Academy
of Trades & Technology are established in state statute under Chapter 10, Article 11, NMSA
1978.Therequirementsmaybeamendedbyactsofthelegislature.Forthefiscalyearended
June 30, 2014 employers contributed 13.15% if employees gross annual salary to the Plan.
Employees earning $20,000 or less contributed 7.90% and employees earning more than
$20,000 contributed 10.10% of their gross annual salary. For fiscal year ended June 30, 2015
employerscontributed13.90%,andemployeesearning$20,000orlesscontinuedtocontribute
7.90%andemployeesearningmorethan$20,000contributedanincreasedamountof10.70%
of their gross annual salary. Contributions to the pension plan from Academy of Trades &
Technologywere$112,179fortheyearendedJune30,2015.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred
InflowsofResourcesRelatedtoPensions:ThetotalERBpensionliability,netpensionliability,
andsensitivityinformationwerebasedonanannualactuarialvaluationperformedasofJune
30,2013.ThetotalERBpensionliabilitywasrolledforwardfromthevaluationdatetothePlan
year ending June 30, 2014, using generally accepted actuarial principles. Therefore, the
employers portion was established as of the measurement date June 30, 2014. At June 30,
2015,AcademyofTrades&Technologyreportedaliabilityof$1,465,223foritsproportionate
share of the net pension liability. Academy of Trades & Technologys proportion of the net
pension liability is based on the employer contributing entitys percentage of total employer
contributionsforthefiscalyearendedJune30,2014.Thecontributionamountsweredefined
by Section 221121, NMSA 1978. At June 30, 2014, Academy of Trades & Technologys
proportion was .02568% percent, which was an decrease of (0.00449%) from its proportion
measuredasofJune30,2013.
For the year ended June 30, 2015, Academy of Trades & Technology recognized pension
expenseof$28,760.AttheJune30,2015,AcademyofTrades&Technologyreporteddeferred
outflowsofresourcesanddeferredinflowsorresourcesrelatedtopensionsfromthefollowing
sources:
Vol. III - 23
STATEOFNEWMEXICO
June30,2015
Deferred
Outflowsof
Resources
$
Deferred
Inflowsof
Resources
21,823
Differencesbetweenexpectedandactualexperience
Changesinassumptions
Netdifferencebetweenprojectedandactualearningson
pensionplaninvestments

133,175

ChangesinproportionanddifferencesbetweenAcademy
ofTrades&Technologycontributionsandproportionate
shareofcontributions

209,202

AcademyofTrades&Technologycontributions
subsequenttothemeasurementdate
112,179

Total
$112,179
364,200
$112,179 reported as deferred outflows of resources related to pensions resulting from

AcademyofTrades&TechnologycontributionssubsequenttothemeasurementdateJune30,
2014willberecognizedasareductionofthenetpensionliabilityintheyearendedJune30,
2016. Other amounts reported as deferred outflows of resources and deferred inflows of
resourcesrelatedtopensionswillberecognizedinpensionexpenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$113,516
113,516
103,890
33,278
$364,200
Vol. III - 24
STATEOFNEWMEXICO
June30,2015
Sensitivity of Academy of Trades & Technology's proportionate share of the net pension
liability to changes in the discount rate. The following table shows the sensitivity of the net
pensionliabilitytochangesinthediscountrateasofthefiscalyearend2014.Inparticular,the
tablepresentsthe(employers)netpensionliabilityunderthecurrentsinglerateassumption,
as if it were calculated using a discount rate one percentage point lower (6.75%) or one
percentagepointhigher(8.75%)thanthesinglediscountrate.
1%Decrease
(6.75%)
Academy of Trades & Technologys

proportionate share of the net pension
liability
$1,993,607
Current
Discount
Rate
(7.75%)
1,465,223
1%Increase
(8.75%)
1,023,722
NOTE7.RESTATEMENT
forPensions,netpositionatJune30,2014wasrestatedintheamountof$(1,800,663).
Vol. III - 25
Vol. III - 26
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
*The amounts presented for each fiscal year were determined as of June 30, 2014
66.54%
Plan Fiduciary Net Position as a

Percentage of the Total Pension Liability
708
207.03%
School's Covered-Employee Payroll
1,465
2015
0.03%
School's Proportionate Share of the Net

Pension Liability (Asset) as a Percentage
of Its Covered-Employee Payroll
School's Proportionate Share of Net

Pension Liability (Asset)
School's Proportion of the Net Pension

Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%
New Mexico Educational Retirement Board Pension Plan

Schedule of Ten Year Tracking Data*
(Dollars in Thousands)
STATE OF NEW MEXICO

Academy of Trades & Technology
SCHEDULE OF THE SCHOOL'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 27
364
Total Amount
Deferred
Year
2014 $
364
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
Contribution Deficiency (Excess)
Contributions in Relation to the Contractually

Required Contribution
Contractually Required Contribution
STATE OF NEW MEXICO

Academy of Trades & Technology
SCHEDULE OF SCHOOL CONTRIBUTIONS
June 30, 2015
2015
93
93
2016
-
2017
-
2018
-
2019
-
2020
-
2015
114
2016
114
114
2017
114
-
104
2018
104
-
32
2019
32
-
2020
-
Increase (Decrease) in Pension Expense over Recognition Periods

Schedule of Ten Year Tracking Data
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
ScheduleofBudgetaryComparisonsBudgetaryBasis
Operational11000
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 1,425,108
1,425,108
1,425,820
1,425,820
1,426,715
1,426,715
895
895
579,546
579,546
538,773
40,773
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
TotalExpenditures
157,837
44,000
240,506
189,274
318,698
8,393
1,538,254
158,731
36,200
267,062
192,590
290,800
14,037
1,538,966
154,616
25,565
256,943
188,707
271,778
12,866
1,449,248
4,115
10,635
10,119
3,883
19,022
1,171
89,718
(113,146)
(113,146)
(22,533)
90,613
(113,146)
(113,146)
(22,533)
90,613
CashorFundBalancesBeginningofYear
155,845
155,845
155,845
CashorFundBalancesEndofYear
$42,699
42,699
133,312
90,613
ReconciliationtoGAAPBasis:
AdjustmentstoRevenues
AdjustmentstoExpenditures
$(22,533)
1,294
(1,890)
$(23,129)
Vol. III - 28
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 5,837
5,837
8,111
8,111
8,111
8,111
EXPENDITURES
Current:
Instruction
TotalExpenditures
15,822
15,822
18,096
18,096
6,925
6,925
11,171
11,171
(9,985)
(9,985)
1,186
11,171
(9,985)
(9,985)
1,186
11,171
12,206
12,206
12,206
$2,221
2,221
13,392
11,171
$1,186
1,832
$3,018
Vol. III - 29
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 32,500
32,500
32,500
32,500
31,588
31,588
(912)
(912)
Original
Budget
EXPENDITURES
Current:
TotalExpenditures
32,500
32,500
32,500
32,500
28,259
28,259
4,241
4,241
3,329
3,329
3,329
3,329
3,411
3,411
3,411
$3,411
3,411
6,740
3,329
$3,329
$3,329
Vol. III - 30
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 29,345
29,345
59,231
59,231
38,365
38,365
(20,866)
(20,866)
EXPENDITURES
Current:
Instruction
TotalExpenditures
29,050
29,050
58,936
58,936
41,334
41,334
17,602
17,602
295
295
(2,969)
(3,264)
295
295
(2,969)
(3,264)
$295
295
(2,969)
(3,264)
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$(2,969)
2,969
$
Vol. III - 31
STATEOFNEWMEXICO
IDEABEntitlement24106
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 25,033
25,033
27,834
27,834
32,314
32,314
4,480
4,480
EXPENDITURES
Current:
Instruction
TotalExpenditures
25,033
25,033
27,834
27,834
27,834
27,834
4,480
4,480
4,480
4,480
4,480
4,480
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$4,480
(4,480)
$
Vol. III - 32
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
31
31
186
186
155
155
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
31
31
31
31
155
155
155
155
155
155
$155
(155)
$
Vol. III - 33
STATEOFNEWMEXICO
TeacherPrincipalTraining24154
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
11,786
11,786
962
962
(10,824)
(10,824)
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
Totalexpenditures
11,786
11,786
2,482
2,482
9,304
9,304
(1,520)
(1,520)
NetchangesinFundBalances
(1,520)
(1,520)
(1,520)
(1,520)
$(1,520)
1,520
$
Vol. III - 34
STATEOFNEWMEXICO
TitleISchoolImprovement24162
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
23,533
23,533
23,533
23,533
EXPENDITURES
Current:
TotalExpenditures
23,533
23,533
23,533
23,533
23,533
23,533
Adjustmentstorevenues
Adjustmentstoexpenditures
$23,533
(23,533)
(10,608)
$(10,608)
Vol. III - 35
STATEOFNEWMEXICO
2012SB66StudentLibrary27107
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
3,063
3,063
3,063
3,063
EXPENDITURES
Current:
TotalExpenditures
3,063
3,063
3,063
3,063
3,063
3,063
$3,063
(2,999)
$64
Vol. III - 36
STATEOFNEWMEXICO
YouthConservationCorp28133
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 141,014
141,014
286,989
286,989
240,303
240,303
(46,686)
(46,686)
EXPENDITURES
Current:
TotalExpenditures
141,014
141,014
286,989
286,989
202,429
202,429
84,560
84,560
37,874
37,874
37,874
37,874
37,874
37,874
REVENUES
StateGrant
TotalRevenues
Original
Budget
$37,874
(37,876)
$(2)
Vol. III - 37
STATEOFNEWMEXICO
GradsInstruction28190
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
4,000
4,000
4,000
4,000
4,000
4,000
4,000
4,000
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
Vol. III - 38
STATEOFNEWMEXICO
PublicSchoolCapitalOutlay31200
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
99,893
99,893
108,587
108,587
8,694
8,694
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
99,893
99,893
99,893
99,893
8,694
8,694
8,694
8,694
8,694
8,694
Original
Budget
REVENUES
StateGrant
TotalRevenues
$8,694
(8,694)
$
Vol. III - 39
STATEOFNEWMEXICO
HB33CapitalImprovements31600
BudgetedAmounts
REVENUES
PropertyTaxes
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 64,863
64,863
64,863
64,863
64,948
64,948
85
85
Original
Budget
EXPENDITURES
Current:
SupportServices:
CapitalOutlay
TotalExpenditures
649
180,519
181,168
649
180,519
181,168
21,788
21,788
649
158,731
159,380
(116,305)
(116,305)
43,160
159,465
(116,305)
(116,305)
43,160
159,465
123,171
123,171
123,171
$6,866
6,866
166,331
159,465
$43,160
(254)
$42,906
Vol. III - 40
STATEOFNEWMEXICO
SB9CapitalImprovements31700
BudgetedAmounts
REVENUES
PropertyTaxes
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 32,466
32,466
35,115
35,115
33,940
33,940
(1,175)
(1,175)
Original
Budget
EXPENDITURES
CapitalOutlay
TotalExpenditures
32,466
32,466
35,115
35,115
32,328
32,328
2,787
2,787
1,612
1,612
1,612
1,612
1,612
1,612
$1,612
1,121
$2,733
Vol. III - 41
STATEOFNEWMEXICO
ScheduleofCollateralPledgedbyDepositoryforPublicFunds
June30,2015
NameofDepository
WellsFargoBank
WellsFargoBank
WellsFargoBank
SecurityType
FNMA
FNMA
FNMA
CUSIP/Security
Number
3138W6RL2
3138WTRVO
3138XOA24
MaturityDate
6/1/1943
6/1/1943
7/1/1943
FairValue
June30,2015
$ 12,830
9,950
71,541
$94,321
TotalCashperScheduleofCashAccounts: $ 359,199
Less:FDICcoverage: (250,000)
UninsuredPublicFunds: 109,199
CollateralRequirement: 54,600
PledgedCollateralHeldbyPledgingFinancialInstitution: 94,321
BalanceOverCollateralized: $39,721
BalanceUninsuredandUncollateralizedatJune30,2015: $ 14,878
Vol. III - 42
STATEOFNEWMEXICO
ScheduleofCashAccounts
June30,2015
BankAccountType
CheckingOperationalAccount
TotalonDeposit
WellsFargo
$ 359,199
359,199
ReconcilingItems
(33,562)
ReconciledBalanceJune30,2015
325,637
LessAgencyFunds
(7,450)
TotalCash
$318,187
Vol. III - 43
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
NonInstruct.
Fund
11000
14000
21000
23000
$ 160,534
12,206
3,410
7,774
1,428,009
8,111
31,588
1,754
1,588,543
20,317
34,998
9,528
(1,449,266)
27,471
(35,023)
(6,925)

(28,258)

(2,078)

CashJune30,2015
131,725
13,392
6,740
7,450
FundBalanceReconciliationstoGAAPBasis:
Auditreclassificationstocash
CashPerBooks
(335)
131,390

13,392

6,740

7,450
FundBalanceReconciliationtoGAAPBasis:
ModifiedAccrualAdjustments
FundBalance(Deficit),ModifiedAccrualBasis
1,326
$ 132,716

13,392

6,740
(7,450)

Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
Receivables/Payables
OutstandingLoans
Vol. III - 44
FederalProjects
Account
State
Acccount
StateDirect
Account
PublicSchool
CapitalOutlay
HB33Capital
Improvements
SB9Capital
Improvements
24000
27000
28000
31200
31600
31700
Total
(42,051)
(3,063)
(58,916)
(8,694)
43,006
(2,157)
112,049
95,360
3,063
244,303
108,587
64,948
33,940
2,019,663
53,309
185,387
99,893
107,954
31,783
2,131,712
(71,907)
4,808
13,790
(206,409)
334
20,688
(99,893)

(21,789)
80,166

(32,328)
545
(1,918,853)
112,779

166,331
325,638
334

334

166,331
Less:ActivityFundsPerScheduleofChangesinAssetsandLiabilitiesAgencyFund:
(1)
325,637
(7,450)
$318,187
(353)
(19)
(78,978)
87,353
2,597
2,597
Add:Foundation:
BalanceSheetsGovernmentalFunds:
(82,858)
242,779
(25,000)
$217,779
Vol. III - 45
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Land
$990,985
111,813
1,102,798
1,196,050
2,726,142
45,804
(54,245)
3,913,751
TotalAssets
5,016,549
457,979
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
AccruedInterestPayable
53,084
82,071
1,000
233,040
369,195
LongTermDebt
NetPensionLiability
4,032,015
3,381,207
7,413,222
TotalLiabilities
7,782,417
357,710
NETPOSITION
Restricted
(352,304)
772,604
(3,085,899)
TotalNetPosition
$(2,665,599)
Vol. III - 46
STATEOFNEWMEXICO
ProgramRevenues
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
Expenses
Chargesfor
Service
Operating
Grantsand
Contributions
$1,373,609
2,101
396,678
(974,830)
SupportServices:
Students
Instruction
537,777
107,191
789,216
261,538
(537,777)
(107,191)
(789,216)
(261,538)
256,472
139,414
17,012
21,921
90,564
91,427
(256,472)
(139,414)
(17,012)
(21,921)
863
1,572,676
244,923
(1,327,753)
$5,167,390
2,101
488,105
244,923
(4,432,261)
CentralServices
FoodServices
Services
GeneralRevenues:
PropertyTaxes
Miscellaneous
$91,989
3,060,897
264,688
3,417,574
ChangeinNetPosition
(1,014,687)
NetPosition,BeginningofYear
Restatement
1,591,576
(3,242,488)
(1,650,912)
Netposition,Ending
$(2,665,599)
Vol. III - 47
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Operational
11000
Instructional
Materials
14000
Food
Services
21000
$488,689
47,612

76,715
534,015
11,756
59,085

11,756
59,085
$1,099,419
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
DeferredInflows
Unavailablerevenue
TotalDeferredInflows
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Unassigned(Deficit)
47,612
TitleI
IASA
24101
$24,055
72,879

96,934
9,960
9,960

61,171
61,171
534,015

468,470
1,002,485
47,612

47,612
1,796
1,796

(2,086)
(2,086)
$1,099,419
47,612
11,756
59,085
Vol. III - 48
IDEAB
Entitlement
24106
FederalCharter
SchoolPlanning
24146
Teacher
Principal
Training
24154
Kellog
Foundation
26121
Daniels
Fund
26141
9,193
88,272
PartnersFor
Developing
Futures
26208
2,456
5,584
5,584
2,456
9,193
88,272
174
5,584
5,584
2,456
2,456
9,192
9,192
18,000
18,000
5,584
2,456
174
174
70,272
70,272
9,193
88,272
174
174
Vol. III - 49
STATEOFNEWMEXICO
June30,2015
Private
DirGrants
(Categorical)
29102
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
31,836
300
PublicSchool
CapitalOutlay
31200
38,362
32,136
38,362
32,136
38,362
32,136
38,362
32,136
38,362
DeferredInflows
Unavailablerevenue
TotalDeferredInflows
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Unassigned(Deficit)
McCune
Charitable
Foundation
29114
Vol. III - 50
SB9Capital
Improvements
31700
Foundation
Total
46,117
238,274
990,985
2,119
32,969
111,813
76,715
534,015
48,236
271,243
1,713,528
8,573
8,573
53,084
82,071
76,715
211,870
534,015
534,015
534,015
534,015
534,015
48,236
48,236
(271,345)
(271,345)
188,557
1,796
48,236
195,039
967,643
48,236
271,243
1,713,528
Vol. III - 51
STATEOFNEWMEXICO
June30,2015
$967,643
CapitalAssets
3,967,996
(54,245)
3,913,751
funds.
AccruedInterestPayable
LongTermDebt
NetPensionLiability
457,979
(1,000)
(4,265,055)
(3,381,207)
(7,647,262)
Definedbenefitpensionplandeferredinflowsarenotdueand
payableinthecurrentperiodand,therefore,arenotreported
inthefunds.
(357,710)
$(2,665,599)
Vol. III - 52
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
4,647
3,060,897
2,015
417
3,067,976
23,905
23,905
91,427
86
91,513

82,579

82,579
1,167,849
1,133
84,665
75,158
2,928,417
1,133
75,158

84,665
139,559
22,772
16,355
(2,086)
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
Debtservice
Principal
Interest
TotalExpenditures
Proceedsfromcapitalrelateddebt
TotalOtherFinancingsources
528,166
172
447,552
188,051
180,113
384,096
15,406
17,012
139,559
22,772
16,355
(2,086)
862,926
24,840
(14,559)
$1,002,485
47,612
1,796
(2,086)
Vol. III - 53
IDEAB
Entitlement
24106
FederalCharter
SchoolPlanning
24146
55,451
55,451
55,451
55,451
Teacher
Principal
Training
24154
7,096
7,096
Kellog
Foundation
26121
PartnersFor
Developing
Futures
26208
Daniels
Fund
26141
200,000
200,000
48,410
6,250
7,096
283,446
2,249
15,401
3,459
59,660
5,000
55,025
3,794
771
6,250
7,096
301,096
175,348
771
(301,096)
24,652
(771)
(6,250)
(6,250)
(301,096)
24,652
(771)
6,250
301,097
45,620
945
70,272
174
Vol. III - 54
STATEOFNEWMEXICO
GovernmentalFunds
Private
DirGrants
(Categorical)
29102
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
Debtservice
Principal
Interest
TotalExpenditures
Proceedsfromcapitalrelateddebt
TotalOtherFinancingsources
13,000
13,000
336
McCune
Charitable
Foundation
29114
PublicSchool
CapitalOutlay
31200
10,000
10,000
244,923
244,923
40,263
4,235
5,128
38,602
8,009
54,086
244,923
49,962
100,697
244,923
(36,962)
(90,697)
(36,962)
(90,697)
69,098
129,059
$32,136
38,362
Vol. III - 55
SB9Capital
Improvements
31700
91,989
91,989
Foundation
Total
515,972
515,972
91,989
227,647
3,329,725
236,553
2,101
516,389
4,404,404
1,357,844
68,136
21,921
3,410,998
531,625
107,191
778,835
258,462
254,165
390,346
21,921
90,564
17,012
3,724,057
68,136
563,242
27,855
4,024,016
563,242
27,855
8,123,119
23,853
(3,508,044)
(3,718,715)
3,749,788
3,749,788
3,749,788
3,749,788
23,853
241,744
31,073
24,383
(513,089)
936,570
48,236
(271,345)
967,643
Vol. III - 56
STATEOFNEWMEXICO
NetChangeinFundBalanceTotalGovernmentalFunds
$31,073
CapitalOutlays
DepreciationExpense
2,217,091
(38,855)
2,178,236
position.
IssuanceofLongTermDebt
ChangeinAccruedInterestPayable
PaymentofLongTermDebt
(3,749,788)
1,000
563,242
(38,450)
(3,223,996)
$(1,014,687)
Vol. III - 57
STATEOFNEWMEXICO
June30,2015
Agency
ASSETS
CashinBank
$1,693
TotalAssets
LIABILITIES
TotalLiabilities
$1,693
$1,693
$1,693
Vol. III - 58
STATEOFNEWMEXICO
Balance
July1,2014
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Additions
Deductions
Balance
June30,2015
$ 2,547
68
(922)
1,693
$2,547
68
(922)
1,693
$ 2,547
68
(922)
1,693
$2,547
68
(922)
1,693
Vol. III - 59
STATEOFNEWMEXICO
June30,2015

asincurred.TheACELeadershipHighSchoolscapitalizationpolicy(i.e.,thedollarvalueabove
whichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.TheACELeadership
HighSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. The ACE Leadership High School utilizes Internal Revenue Service
5years
40years
Capital assets for the ACE Leadership High School are recorded in the Statement of Net
Position.
Vol. III - 60
STATEOFNEWMEXICO
June30,2015

NOTE2.CAPITALASSETS

follows:

CapitalAssetsnotbeing
Depreciated:
Land
ConstructioninProgress
Total
Total
Total
CapitalAssets,Net

Balance

Deletions
orReclass
Balance
June30,2015
$
1,196,050

510,020

1,706,070

44,835
969
2,216,122

44,835 2,217,091

(15,390)
(6,186)
(32,669)

(15,390)
(38,855)
$ 1,735,515 2,178,236

(510,020)
(510,020)
1,196,050
1,196,050

510,020
510,020

45,804
2,726,142
2,771,946
(21,576)
(32,669)
(54,245)
3,913,751
functions:
CapitalOutlay
Total
$
$
38,855
38,855

Vol. III - 61
STATEOFNEWMEXICO
June30,2015
The ACE Leadership High School leased equipment and facilities under longterm cancelable
operating leases. Rental expense for the year ended June 30, 2015 was $706,028. The ACE
LeadershipHighSchoolsminimumfuturepaymentsonthisleaseareasfollows:
YearEndingJune30:
2016
$
581,524
2017
447,545
2018
485,778
2019
488,122
2020
490,582
Total
$
2,493,551
ThetotaloutstandinglongtermdebtasofJune30,2015isasfollows:
Landnotepayableto 1224Bellamah,LLC
interestat3%,dueinoneannualinstallment
dueFebruary28,2016
LandnotepayabletoCharterSchools
DevelopmentLand,interestat7.01%,duein
monthlyinstallmentsof$6,204dueSeptember
30,2019
Mortgagepayabletobanksecuredbybuilding
andland;interestat4.75%dueinmonthly
Installmentsof$23,394;maturingMarch2024
Total
LessCurrentMaturities
$100,000
784,384
3,380,671
4,265,055
(233,040)
$4,032,015
Theaggregateamountsofprincipalmaturitiesofthelongtermdebtareasfollows:
2016
2017
2018
2019
2020
20212025
Total
$
233,040
140,515
147,934
156,751
831,430
2,755,385
$4,265,055
Vol. III - 62
STATEOFNEWMEXICO
June30,2015
TitleIIASA24101
2,086
The ACE Leadership High School is addressing the negative fund balance and is planning on
takingtheappropriateactionstoeliminatethenegativebalance.
The ACE Leadership High School leases the building from the ACE Leadership High School
Foundationthattheschoolresidesin.TheFoundationisconsideredacomponentunitofthe
schoolandispresentedasablendedcomponentunit.
For the fiscal year ending June 30, 2015, the schools business manager was also a business
managerforanothercharterschool.
Contributions. The contribution requirements of defined benefit plan members and ACE
Leadership High School are established in state statute under Chapter 10, Article 11, NMSA
oftheirgrossannualsalary.ContributionstothepensionplanfromACELeadershipHighSchool
were$263,237fortheyearendedJune30,2015.
Vol. III - 63
STATEOFNEWMEXICO
June30,2015
2015,ACELeadershipHighSchoolreportedaliabilityof$3,381,207foritsproportionateshare
ofthenetpensionliability.ACELeadershipHighSchoolsproportionofthenetpensionliability
isbasedontheemployercontributingentityspercentageoftotalemployercontributionsfor
thefiscalyearendedJune30,2014.ThecontributionamountsweredefinedbySection2211
21, NMSA 1978. At June 30, 2014, ACE Leadership High Schools proportion was 0.05926%,
whichwasanincreaseof0.00418%fromitsproportionmeasuredasofJune30,2013.
FortheyearendedJune30,2015,ACELeadershipHighSchoolrecognizedpensionexpenseof
$301,687. At the June 30, 2015, ACE Leadership High School reported deferred outflows of
resourcesanddeferredinflowsorresourcesrelatedtopensionsfromthefollowingsources:
ChangesinproportionanddifferencesbetweenACE
LeadershipHighSchoolcontributionsandproportionate
ACELeadershipHighSchoolcontributionssubsequentto
themeasurementdate
Total
Deferred
Outflowsof
Resources
$
Deferred
Inflowsof
Resources
50,365
307,345
194,742

263,237

$457,979
357,710
Vol. III - 64
STATEOFNEWMEXICO
June30,2015
$263,237 reported as deferred outflows of resources related to pensions resulting from ACE
LeadershipHighSchoolcontributionssubsequenttothemeasurementdateJune30,2014will
berecognizedasareductionofthenetpensionliabilityintheyearendedJune30,2016.Other
amountsreportedasdeferredoutflowsofresourcesanddeferredinflowsofresourcesrelated
topensionswillberecognizedinpensionexpenseasfollows:
YearendedJune30:
2016
$26,712
2017
26,712
2018
32,728
2019
76,816
Total
$162,968
SensitivityofACELeadershipHighSchoolsproportionateshareofthenetpensionliabilityto
changes in the discount rate. The following table shows the sensitivity of the net pension
liabilitytochangesinthediscountrateasofthefiscalyearend2014.Inparticular,thetable
presentsthe(employers)netpensionliabilityunderthecurrentsinglerateassumption,asifit
werecalculated using a discount rate one percentage point lower (6.75%) or one percentage
pointhigher(8.75%)thanthesinglediscountrate.
1%Decrease
(6.75%)
ACELeadershipHighSchools
proportionateshareofthenetpension
liability
$4,600,524
Current
Discount
Rate
(7.75%)
3,381,207
1%Increase
(8.75%)
2,362,579
Payablestothepensionplan.FortheyearendingJune30,2015,ACELeadershipHighSchools
accruedliabilityduetoERBwas$22,665forJunepayrollpaidinJuly2015.
NOTE7.BUDGETOVERAGE
ACELeadershipHighSchoolexpendedinexcessofbudgetinthefollowingfundandfunction:
Fund31700SB9CapitalImprovementsCapitalOutlay $16,330
Vol. III - 65
STATEOFNEWMEXICO
June30,2015

NOTE8.RESTATEMENT
Vol. III - 66
Vol. III - 67
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

1,633
207.02%
3,381
2015
0.06%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

ACE Leadership High School
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 68
163
Total Amount
Deferred
Year
2014 $
163
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
27
2016
27
27
2017
27
-
33
2018
33
-
76
2019
76
-
2020
-
2015
215
215


STATE OF NEW MEXICO

ACE Leadership High School
June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
REVENUES
Local&CountyGrant
StateGrant
ChargesforServices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
3,090,539
3,000
3,093,539

3,090,539
3,000
3,093,539
4,647
3,060,897
2,432
3,067,976
4,647
(29,642)
(568)
(25,563)
1,476,003
1,503,108
1,167,849
335,259
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
574,023

487,692
219,315
193,656
503,064
13,000
14,000
3,480,753
574,023

507,692
231,315
199,656
503,064
37,000
24,000
3,579,858
534,590
172
447,552
188,051
180,113
480,296
15,406
17,012
3,031,041
39,433
(172)
60,140
43,264
19,543
22,768
21,594
6,988
548,817
(387,214)
(486,319)
36,935
523,254
(387,214)
(486,319)
36,935
523,254
862,926
862,926
862,926
$475,712
376,607
899,861
523,254
$36,935
102,624
$139,559
Vol. III - 69
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 15,748
15,748
15,748
15,748
23,905
23,905
8,157
8,157
27,737
27,737
40,588
40,588
1,133
1,133
39,455
39,455
EXPENDITURES
Current:
Instruction
TotalExpenditures
(11,989)
(24,840)
22,772
47,612
(11,989)
(24,840)
22,772
47,612
24,840
$12,851
24,840
24,840
47,612
47,612
$22,772
$22,772
Vol. III - 70
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
FinalBudget
$ 100,000

100,000
100,000

100,000
87,384
86
87,470
(12,616)
86
(12,530)
EXPENDITURES
Current:
TotalExpenditures
100,000
100,000
100,000
100,000
81,806
81,806
18,194
18,194
5,664
5,664
5,664
5,664
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
Actual
Amount
Variance
Positive
(Negative)
Original
Budget
5,664
5,664
$5,664
10,691
$16,355
Vol. III - 71
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
$ 71,342
71,342
84,665
84,665
52,011
52,011
71,342
71,342
84,665
84,665
84,665
84,665
Variance
Positive
(Negative)
(32,654)
(32,654)
EXPENDITURES
Current:
Instruction
TotalExpenditures
(32,654)
(32,654)
(32,654)
(32,654)
(32,654)
(32,654)
$(32,654)
30,568
$(2,086)
Vol. III - 72
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
$ 49,867
49,867
55,451
55,451
59,536
59,536
49,867
49,867
55,451
55,451
55,451
55,451
Variance
Positive
(Negative)
4,085
4,085
EXPENDITURES
Current:
Instruction
TotalExpenditures
4,085
4,085
4,085
4,085
4,085
4,085
$4,085
(4,085)
$
Vol. III - 73
STATEOFNEWMEXICO
FederalCharterSchoolPlanning24146
BudgetedAmounts
Original
Budget
REVENUES
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
EXPENDITURES
Current:
TotalExpenditures
(6,250)
$(6,250)
Vol. III - 74
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 10,943
10,943
27,054
27,054
7,096
7,096
(19,958)
(19,958)
10,943
10,943
27,054
27,054
7,096
7,096
19,958
19,958
EXPENDITURES
Current:
SupportServices:
Instruction
Totalexpenditures
Vol. III - 75
STATEOFNEWMEXICO
KellogFoundation26121
BudgetedAmounts
Original
Budget
REVENUES
TotalRevenues
EXPENDITURES
Current:
SupportServices:
CentralServices
TotalExpenditures
FinalBudget
Variance
Positive
(Negative)
Actual
Amount
299,297

16,021
315,318
285,075

16,021
301,096
283,446
2,249
15,401
301,096
(315,318)
(301,096)
(301,096)
(315,318)
(301,096)
(301,096)
301,097
301,097
301,097
$(14,221)
1,629
(2,249)
620
$(301,096)
$(301,096)
Vol. III - 76
STATEOFNEWMEXICO
DanielsFund26141
BudgetedAmounts
Original
Budget
REVENUES
Local&CountyGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
200,000
200,000
200,000
200,000
100,000
100,000
48,410
51,590
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
4,224
15,000
5,000
20,000
5,000
149,224
4,224
115,000
5,000
16,395
5,000
245,619
3,459
59,660
5,000
55,025
3,794
175,348
765
55,340
(38,630)
1,206
70,271
(149,224)
(45,619)
24,652
70,271
(149,224)
(45,619)
24,652
70,271
45,620
45,620
45,620
$(103,604)
70,272
70,271
$24,652
$24,652
Vol. III - 77
STATEOFNEWMEXICO
PartnersforDevelopingFutures26208
BudgetedAmounts
Original
Budget
REVENUES
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
EXPENDITURES
Current:
CentralServices
TotalExpenditures
945
945
945
945
771
771
174
174
(945)
(945)
(771)
174
(945)
(945)
(771)
174
945
945
945
174
174
$(771)
$(771)
Vol. III - 78
STATEOFNEWMEXICO
PrivateDirGrants(Categorical)29102
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
10,000
10,000
13,000
13,000
3,000
3,000
4,183
336
3,847
Original
Budget
REVENUES
Local&CountyGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Instruction
TotalExpenditures
42,500

7,290
49,790
67,625

7,290
79,098
40,263
4,235
5,128
49,962
27,362
(4,235)
2,162
29,136
(49,790)
(69,098)
(36,962)
32,136
(49,790)
(69,098)
(36,962)
32,136
69,098
69,098
69,098
$19,308
32,136
32,136
$(36,962)
$(36,962)
Vol. III - 79
STATEOFNEWMEXICO
McCuneCharitableFoundation29114
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
10,000
10,000
10,000
10,000
75,000

5,000
80,000
75,000
10,000
5,000
90,000
38,602
8,009
4,086
50,697
36,398
1,991
914
39,303
(80,000)
(80,000)
(40,697)
39,303
(80,000)
(80,000)
(40,697)
39,303
129,059
129,059
129,059
$49,059
49,059
88,362
REVENUES
Local&CountyGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
CentralServices
TotalExpenditures
39,303
$(40,697)
(50,000)
$(90,697)
Vol. III - 80
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
244,923
244,923
272,910
272,910
27,987
27,987
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
244,923
244,923
244,923
244,923
27,987
27,987
27,987
27,987
Original
Budget
REVENUES
StateGrant
TotalRevenues
27,987
27,987
$27,987
(27,987)
$
Vol. III - 81
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 91,495
13,419
104,914
91,495
13,419
104,914
89,870
89,870
(1,625)
(13,419)
(15,044)
Original
Budget
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
104,914
104,914
104,914
104,914
121,244
121,244
(16,330)
(16,330)
(31,374)
(31,374)
(31,374)
(31,374)
77,491
77,491
77,491
$77,491
77,491
46,117
(31,374)
$(31,374)
2,119
53,108
$23,853
Theaccompaningnotesareanintegralpartofthesefinancialstatements
Vol. III - 82
STATEOFNEWMEXICO
June30,2015
NameofDepository
SuntrustBank
SuntrustBank
SuntrustBank
SecurityType
GOSchoolBonds
GOSchoolBonds
GOSchoolBonds
CUSIP/Security
Number
264430KB4
473750CF2
640575GM2
MaturityDate
9/1/2018
3/1/2016
9/1/2029
FairValue
June30,2015
$477,860
320,720
315,354
$1,113,934
TotalCashperScheduleofCashAccounts: $1,108,029
PledgedCollateralHeldbyPledgingFinancialInstitution: 1,113,934
BalanceUninsuredandUncollateralizedatJune30,2015: $
Vol. III - 83
STATEOFNEWMEXICO
June30,2015
NewMexico
Bank&Trust
BankAccountType
CheckingFoundation
TotalonDeposit
846,341
261,688
1,108,029
ReconcilingItems
(115,351)
992,678
LessAgencyFunds
TotalCash
(1,693)
$
990,985
Vol. III - 84
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Cash,June30,2014
Operational
Instructional
Materials
Food
Services
NonInstruct.
Fund
11000
14000
21000
23000
$ 443,183
24,840
(10,181)
2,342
3,067,975
23,905
87,470
68
3,511,158
48,745
77,289
2,410
(81,806)
(42)
4,559
(717)
47,612
1,693
64,960

CashPerBooks
488,689
47,612
*
Doesnotmatchthegeneralledger
1,693
1,796
1,796
(1,693)
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
CashJune30,2015
(3,018,551)
(20)
(68,858)
423,729 *
513,796
$ 1,002,485
(1,133)

47,612
Vol. III - 85
FederalProjects
Account
Local
Grants
State
Account
Localor
State
PublicSchool
CapitalOutlay
SB9Capital
Improvements
24000
26000
27000
29000
31200
31700
Total
(38,186)
347,661
(50,961)
(27,987)
77,491
916,360
118,643
200,000
50,961
80,457
547,661
(147,212)
2,456
64,299
(459,215)
2,456
2,456
148,158
23,000
272,910
89,870
3,934,802
171,158
244,923
167,361
4,851,162
(121,244)
(4,175,461)
2,404

46,117
678,105
9,193
(310)
97,639
70,198
46,117
BalanceSheetFoundation:
76,299
754,404
(1,693)
238,274
88,446 *
(100,660)
10
70,508 *
(244,923)
$990,985
(4,542)
(2,086)
(27,192)
70,447
300
70,498
2,119
48,236
Add:Foundation:
484,584
1,238,988
(271,345)
$967,643
Vol. III - 86
STATEOFNEWMEXICO
June30,2015
Currentassets:
Cash
Receivables
Duefromothergovernments
Prepaidexpenses
Totalcurrentassets
Noncurrentassets:
Capitalassets
Furniture,fixtures,andequipment
Less:accumulateddepreciation
$ 2,448,901
74,340
5,025
2,528,266
Totalnoncurrentassets
77,553
(29,269)
48,284
TotalAssets
2,576,550
Deferredoutflowspensionrelated
272,656
Currentliabilities:
Accountspayable
Accruedliabilities
Unearnedrevenue
Totalcurrentliabilities
Noncurrentliabilities:
Netpensionliability
26,079
186,313
175,000
387,392
Totalnoncurrentliabilities
2,747,871
2,747,871
Totalliabilities
3,135,263
Deferredinflowspensionrelated
290,723
NETPOSITION
Investmentincapitalassets
Restricted
Totalnetposition
48,284
892,777
(1,517,841)
$(576,780)
Vol. III - 87
STATEOFNEWMEXICO
ProgramRevenues
Functions/Programs
Instruction
Supportservices:
Students
Instruction
CentralServices
Othersupportservices
Services
Totalgovernmentalactivities
Expenses
Chargesfor
Services
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net
(Expenses)
Revenuesand
Changesin
NetPosition
$1,688,836
4,049
98,941
(1,585,846)
264,455
36,644
64,611
340,575
(264,455)
(36,644)
(64,611)
(340,575)
208,686
100,796
44,270
(208,686)
(100,796)
(44,270)
276,401
470,196
193,795
$3,025,274
4,049
98,941
470,196
(2,452,088)
GeneralRevenues:
Totalgeneralrevenues
Changeinnetposition
$ 2,795,356
2,795,356
343,268
Netpositionbeginning
Restatement
Netpositionbeginning,restated
1,854,889
(2,774,937)
(920,048)
Netpositionending
$ (576,780)
Vol. III - 88
STATEOFNEWMEXICO
June30,2015
ASSETS
Assets
Accountsreceivable
DuefromGovernment
Duefromotherfunds
Prepaidexpenditures
TotalAssets
Liabilities:
Accountspayable
Accruedexpenses
Unspentgrantrevenue
Duetootherfunds
TotalLiabilities
Operational
11000
Instructional
Materials
14000
Daniels
Fund
26141
DualCredit
Instructional
Materials
27103
$ 1,389,261
59,766
175,000

70,838
5,025
$ 1,465,124

59,766

175,000
2,055

2,055
$ 17,115
186,313

203,428
355

355

175,000

175,000

2,055
2,055
5,025
FundBalance:
NonSpendable
Prepaidexpenditures
Restrictedfor:
Instruction
Capitalimprovements
Assignedto:
Subsequentyearsexpenditures
andotherprograms
Unassigned(Deficit)
59,411

1,256,671

1,261,696
59,411
$ 1,465,124
59,766
175,000
2,055
TotalLiabilitiesandFundBalance(Deficit)
Vol. III - 89
2010G.O.Bond
StudentLibrary
27106
2012G.O.Bond
StudentLibrary
27107
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
HB33Capital
Improvements
31600
SB9Capital
Improvements
31700
Total
Government
824,874
2,448,901
65,005

65,005
3,778

3,778
3,502

828,376
74,340
70,838
5,025
2,599,104

65,005
65,005

3,778
3,778
35

35
8,574

8,574
26,079
186,313
175,000
70,838
458,230
5,025

828,341
59,411
828,341

(8,574)
1,256,671
(8,574)
828,341
(8,574)
2,140,874
65,005
3,778
828,376
2,599,104
Vol. III - 90
STATEOFNEWMEXICO
ReconciliationoftheBalanceSheetGovernmentalFundstotheStatementofNetPosition
June30,2015
Fundbalancestotalgovernmentalfunds
$2,140,874
Amountsreportedforgovernmentalactivitiesinthestatementof
netpositionaredifferentbecause:
Capitalassets
77,553
(29,269)
48,284
Definedbenefitpensionplandeferredoutflowsarenotfinancial
272,656
Netpensionliability
(2,747,871)
inthefunds.
(290,723)
NetPositiontotalGovernmentalActivities
$(576,780)
Vol. III - 91
STATEOFNEWMEXICO
GovernmentalFunds
Operational
11000
Instructional
Materials
14000
Daniels
Fund
26141
DualCredit
Instructional
Materials
27103
$
62,094
2,795,356
4,049
2,861,499

26,253

26,253

7,234

7,234
1,656,645
29,940
7,234
265,283
33,284
61,179
341,959
209,351
94,286
44,270

2,706,257

29,940

7,234
155,242
(3,687)
Netchangesinfundbalances
155,242
(3,687)
Fundbalancesbeginningofyear
1,106,454
63,098
Fundbalancesendofyear
$ 1,261,696
59,411
Revenues:
PropertyTaxes
Local&CountyGrant
Stategrant
Chargesforservices
TotalRevenues
Expenditures:
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
Capitaloutlay
Totalexpenditures
Excess(deficiency)ofrevenues
over(under)expenditures
Vol. III - 92
2010G.O.Bond
StudentLibrary
27106
2012G.O.Bond
StudentLibrary
27107
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
HB33Capital
Improvements
31600
SB9Capital
Improvements
31700
Total
3,360
3,360

260,018

260,018

3,778

3,778
202,369

202,369
4,031
4,031
202,369
62,094
3,100,030
4,049
3,368,542
1,693,819
3,360
3,360

260,018
260,018

3,778
3,778

2,053

2,053
12,605
12,605
265,283
36,644
63,232
341,959
209,351
94,286
44,270
276,401
3,025,245
200,316
(8,574)
343,297
200,316
(8,574)
343,297
628,025
1,797,577
828,341
(8,574)
2,140,874
Vol. III - 93
STATEOFNEWMEXICO
Netchangeinfundbalancestotalgovernmentalfunds
$ 343,297
Amountsreportedforgovernmentalactivitiesinthestatementofactivities
aredifferentbecause:
Changeinnetpensionliability
8,999
CapitalOutlaystopurchaseorbuildcapitalassetsarereportedin
governmentalfundsasexpenditures.However,forgovernmental
activitiesthosecostsareshownintheStatementofNetPositionand
allocatedovertheirestimatedusefullivesasannualdepreciation
expensesintheStatementofActivities.Thisistheamountbywhich
capitaloutlayexceedsdepreciationfortheperiod
Depreciationexpense
(9,028)
(9,028)
ChangeinNetPositiontotalGovernmentalActivities
$ 343,268
Vol. III - 94
STATEOFNEWMEXICO
June30,2015
Agency
Funds
ASSETS
Cashinbank
TotalAssets
LIABILITIES
Depositsheldforothers
TotalLiabilities
$ 27,066
$ 27,066
$ 27,066
$ 27,066
Vol. III - 95
STATEOFNEWMEXICO
Balance
July1,2014
ASSETS
Cashinbank
Totalassets
LIABILITIES
Depositsheldforothers
Totalliabilities
Additions
Deductions
Balance
June30,2015
$ 16,205
19,562
(8,701)
27,066
$ 16,205
19,562
(8,701)
27,066
$ 16,205
19,562
(8,701)
27,066
$ 16,205
19,562
(8,701)
27,066
Vol. III - 96
STATEOFNEWMEXICO
June30,2015

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Capital Assets. Capital assets, which include property, plant, and equipment, are reported in the
applicable governmentalwide financial statements. The Albuquerque Institute for Mathematics &
Science(AIMS)definescapitalassetsasassetswithaninitial,individualcostofmorethan$5,000andan
initialusefullifeextendingbeyondasinglereportingperiod.Suchassetsarerecordedathistoricalcost
or estimated historical cost if purchased or constructed. Donated capital assets are recorded at
estimatedfairmarketvalueatthedateofdonation.Thecostsofnormalmaintenanceandrepairsthat
donotaddtothevalueoftheassetormateriallyextendassetslivesarenotcapitalized.
Property, plant, and equipment of AIMS are depreciated using the straight line method over the
followingestimatedusefullives:
Furnitureandequipment
5years
Pensions. For purposes of measuring the net pension liability, deferred outflows of resources and
deferred inflows of resources related to pensions, and pension expenses, information about the
Fiduciary Net Position of the New Mexico Educational Retirement Board (ERB) and additions
to/deductions from ERBs Fiduciary Net Position have been determined on the economic resources
measurement focus and accrual basis of accounting. For this purpose, benefit payments (including
refunds of employee contributions) are recognized when due and payable in accordance with the
benefitterms.Investmentsarereportedatfairvalue.

NOTE 2. RECEIVABLES

ReceivablesasofJune30,2015areasfollows:
Duefromothergovernments:
DualCreditInstructionalMaterials
SpecialCapitalOutlayState
HB33CapitalImprovements
Totalduefromothergovernments
2,055
65,005
3,778
3,502
74,340
Vol. III - 97
STATEOFNEWMEXICO
June30,2015

NOTE 3. CAPITAL ASSETS

AsummaryofcapitalassetsandchangesoccurringduringtheyearendedJune30,2015follows:
Furnitureandequipment
Total
Capitalassets,net
Balance
June30,2014
Additions
77,553
77,553
(20,241)
57,312
(9,028)
(9,028)
Deletions
Balance
June30,2015
77,553
77,553
(29,269)
48,284

DepreciationexpensedfortheyearendedJune30,2015wasexpensedtothefollowingfunctions:
Instruction
Total
1,139
1,379
6,510
9,028

NOTE 4. COMMITMENTS AND LIABILITIES
AIMSleasedbuildingsandequipmentundershorttermcancelableoperatingleases.Rentalexpensefor
the year ended June 30, 2015 was $295,343. AIMS minimum future payments on these leases are as
follows:
YearEndingJune30:
2016
2017
Totalminimumleasepayments
$
$
31,172
11,970
43,142
NOTE 5. PENSION PLAN EDUCATIONAL RETIREMENT BOARD

The information contained within this disclosure represents the pension information specific to the
Albuquerque Institute for Mathematics & Science Charter High School and does not include general
disclosureinformationpertainingtotheNewMexicoEducationalEmployeesRetirementPlan.General
disclosure information including plan description, benefits provided, applicable actuarial assumptions,
andlocationforadditionalinformationabouttheNewMexicoEducationalRetirementBoardsfiduciary
netpositioncanbefoundwithinthebasicfinancialstatementsofthePublicEducationDepartment.
Vol. III - 98
STATEOFNEWMEXICO
June30,2015

NOTE 5. PENSION PLAN EDUCATIONAL RETIREMENT BOARD (CONTINUED)
Contributions. The contribution requirements of defined benefit plan members and AIMS are
established in state statute under Chapter 10, Article 11, NMSA 1978. The requirements may be
amended by acts of the legislature. For the fiscal year ended June 30, 2014 employers contributed
13.15% if employees gross annual salary to the Plan. Employees earning $20,000 or less contributed
7.90%andemployeesearningmorethan$20,000contributed10.10%oftheirgrossannualsalary.For
fiscalyearendedJune30,2015employerscontributed13.90%,andemployeesearning$20,000orless
continued to contribute 7.90% and employees earning more than $20,000 contributed an increased
amount of 10.70% of their gross annual salary. Contributions to the pension plan from AIMS were
$218,153fortheyearendedJune30,2015.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions: The total ERB pension liability, net pension liability, and sensitivity
informationwerebasedonanannualactuarialvaluationperformedasofJune30,2013.ThetotalERB
pensionliabilitywasrolledforwardfromthevaluationdatetothePlanyearendingJune30,2014,using
generally accepted actuarial principles. Therefore, the employers portion was established as of the
measurement date June 30, 2014. At June 30, 2015, AIMS reported a liability of $2,747,871 for its
proportionateshareofthenetpensionliability.AIMSproportionofthenetpensionliabilityisbasedon
theemployercontributingentityspercentageoftotalemployercontributionsforthefiscalyearended
June 30, 2014. The contribution amounts were defined by Section 221121, NMSA 1978. At June 30,
2014,AIMSproportionwas0.04816%percent,whichwasanincreaseof0.00117%fromitsproportion
FortheyearendedJune30,2015,AIMSrecognizedpensionexpenseof$209,154.AttheJune30,2015,
AIMS reported deferred outflows of resources and deferred inflows or resources related to pensions
fromthefollowingsources:
Deferred
Deferred
Outflowsof
Inflowsof
Resources
Resources
$
40,933



249,790

ChangesinproportionanddifferencesbetweenAIMS
contributionsandproportionateshareofcontributions
54,503

AIMScontributionssubsequenttothemeasurementdate
218,153
Total
$272,656
290,723
Vol. III - 99
STATEOFNEWMEXICO
June30,2015

NOTE 5. PENSION PLAN EDUCATIONAL RETIREMENT BOARD (CONTINUED)
$218,153 reported as deferred outflows of resources related to pensions resulting from AIMS
contributionssubsequenttothemeasurementdateJune30,2014willberecognizedasareductionof
thenetpensionliabilityintheyearendedJune30,2016.Otheramountsreportedasdeferredoutflows
of resources and deferred inflows of resources related to pensions will be recognized in pension
expenseasfollows:
YearendedJune30:
2016
2017
2018
2019
57,737
57,737
58,303
62,443
236,220

Sensitivity of AIMS proportionate share of the net pension liability to changes in the discount rate.
Thefollowingtableshowsthesensitivityofthenetpensionliabilitytochangesinthediscountrateasof
thefiscalyearend2014.Inparticular,thetablepresentsthe(employers)netpensionliabilityunderthe
currentsinglerateassumption,asifitwerecalculatedusingadiscountrateonepercentagepointlower
(6.75%)oronepercentagepointhigher(8.75%)thanthesinglediscountrate.
AIMS proportionate share of the net

pensionliability
1%Decrease
(6.75%)
Current
DiscountRate
(7.75%)
$3,738,798
2,747,871
1%Increase
(8.75%)
1,920,145
Payablestothepensionplan.AIMSaccrued$54,353inERBbenefitsatJune30,2015,forteacherswith
10monthcontracts.
NOTE 6. OVERSPENT BUDGET LINE ITEMS

Asstatedinthefinding,201501,AIMShadexpendedinexcessofthebudget.
HB33CapitalImprovements(31600)
(18)
Vol. III - 100
STATEOFNEWMEXICO
June30,2015

NOTE7.DEFICIENTFUNDBALANCE
ThefollowingfundhadadeficientfundbalanceatJune30,2015:

SB9CapitalImprovements(31700)
$
(8,574)

AIMS is addressing the negative fund balances and is planning on taking the appropriate actions to
eliminatethenegativebalance.
NOTE8.RESTATEMENT
AsaresultofimplementationofGASB68,AccountingandFinancialReportingforPensions,netposition
atJune30,2014wasrestatedintheamountof$(2,774,937).Thisrestate
Vol. III - 101
Vol. III - 102
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

1,327
207.08%
2,748
2015
0.05%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 103
236
Total Amount
Deferred
Year
2014 $
236
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
58
2016
58
58
2017
58
-
58
2018
58
-
62
2019
62
-
2020
-
2015
175
175


STATE OF NEW MEXICO

June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
2,588,002

2,588,002
97,142
2,795,356

2,892,498
98,921
2,795,356
4,049
2,898,326
1,779

4,049
5,828
2,056,135
2,263,265
1,618,328
644,937
282,829
40,000
66,000
434,246
189,900
492,892

1,000
3,563,002
320,181
40,627
67,968
441,602
239,229
449,233
44,393
1,000
3,867,498
265,283
33,284
61,179
341,959
209,351
94,286
44,270
2,667,940
54,898
7,343
6,789
99,643
29,878
354,947
123
1,000
1,199,558
(975,000)
(975,000)
230,386
1,205,386
Otherfinancingsources(uses):
DesignatedCash
975,000
975,000
975,000
975,000
(975,000)
(975,000)
230,386
230,386
Cashorfundbalancesbeginningofyear
1,229,713
1,229,713
Cashorfundbalancesendofyear
1,460,099
1,460,099
Revenues:
Local&countygrant
Stategrant
Chargesforservices
TotalRevenues
Expenditures:
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
Totalexpenditures
Excessrevenuesover(under)expenditures
Original
Budget
$(36,827)
(38,317)
$155,242
Vol. III - 104
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 17,385
17,385
26,254
26,254
29,734
29,734
3,480
3,480
76,385
76,385
85,254
85,254
25,085
25,085
60,169
60,169
(59,000)
(59,000)
4,649
63,649
DesignatedCash
59,000
59,000
59,000
59,000
(59,000)
(59,000)
4,649
4,649
55,117
55,117
59,766
59,766
Revenues:
Stategrant
TotalRevenues
Expenditures:
Current:
Instruction
Totalexpenditures
Original
Budget
$(3,481)
(4,855)
$(3,687)
Vol. III - 105
STATEOFNEWMEXICO
DanielsFund26141
BudgetedAmounts
Original
Budget
Revenues:
Propertytaxes
Local&countygrant
Stategrant
Federalgrant
Chargesforservices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
Expenditures:
Current:
Instruction
Totalexpenditures
175,000
175,000
175,000
175,000
175,000
175,000
(175,000)
(175,000)
175,000
DesignatedCash
175,000
175,000
175,000
175,000
(175,000)
(175,000)
175,000
175,000
175,000
175,000
Vol. III - 106
STATEOFNEWMEXICO
DualCreditInstructionalMaterials27103
BudgetedAmounts
Revenues:
Stategrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
7,234
7,234
8,584
8,584
1,350
1,350
Original
Budget
Expenditures:
Current:
Instruction
Totalexpenditures
7,234
7,234
7,234
7,234
1,350
1,350
1,350
1,350
(3,405)
(3,405)
(2,055)
(2,055)
$(1,350)
Vol. III - 107
STATEOFNEWMEXICO
2010G.O.BondStudentLibrary27106
BudgetedAmounts
Original
Budget
Revenues:
Stategrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
2,238
2,238
2,238
2,238
Expenditures:
Current:
SupportServices:
Instruction
Totalexpenditures
2,238
2,238
2,238
2,238
(2,238)
(2,238)
$(2,238)
Vol. III - 108
STATEOFNEWMEXICO
2012G.O.BondStudentLibraryFund27107
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
3,360
3,360
3,360
3,360
3,360
3,360
3,360
3,360
Revenues:
Stategrant
TotalRevenues
Expenditures:
Current:
SupportServices:
Instruction
Totalexpenditures
Vol. III - 109
STATEOFNEWMEXICO
BudgetedAmounts
Revenues:
Stategrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
260,018
260,018
239,877
239,877
(20,141)
(20,141)
Original
Budget
Expenditures:
Current:
Capitaloutlay
Totalexpenditures
260,018
260,018
260,018
260,018
(20,141)
(20,141)
(20,141)
(20,141)
(44,864)
(44,864)
(65,005)
(65,005)
$20,141
Vol. III - 110
STATEOFNEWMEXICO
SpecialCapitalOutlayState31400
BudgetedAmounts
Revenues:
Stategrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 50,000
50,000
53,778
53,778
27,510
27,510
(26,268)
(26,268)
Original
Budget
Expenditures:
Current:
Capitaloutlay
Totalexpenditures
50,000
50,000
53,778
53,778
3,778
3,778
50,000
50,000
23,732
23,732
23,732
23,732
(27,510)
(27,510)
(3,778)
(3,778)
$(23,732)
Vol. III - 111
STATEOFNEWMEXICO
BudgetedAmounts
Revenues:
PropertyTaxes
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 200,486
200,486
200,486
200,486
201,838
201,838
1,352
1,352
Original
Budget
Expenditures:
Current:
SupportServices:
Capitaloutlay
Totalexpenditures

818,486
818,486
2,000
816,486
818,486
2,018
2,018
(18)
816,486
816,468
(618,000)
(618,000)
199,820
817,820
DesignatedCash
618,000
618,000
618,000
618,000
(618,000)
(618,000)
199,820
199,820
625,054
625,054
824,874
824,874
$531
(35)
$200,316
Vol. III - 112
STATEOFNEWMEXICO
BudgetedAmounts
Revenues:
Stategrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 4,032
4,032
12,605
12,605
14,061
14,061
1,456
1,456
Original
Budget
Expenditures:
Current:
Capitaloutlay
Totalexpenditures
4,032
4,032
12,605
12,605
4,031
4,031
8,574
8,574
10,030
10,030
10,030
10,030
(10,030)
(10,030)
$(10,030)
(8,574)
$(8,574)
Vol. III - 113
STATEOFNEWMEXICO
ScheduleofCollateralPledgedbyDepository
ForPublicFunds
June30,2015
NameofDepository
NewMexicoBank&Trust
SecurityType
MunicipalBond
CUSIP/Security
Number
412707EB3
MaturityDate
8/15/2026
FairValue
June30,2015
$ 1,810,516
$ 1,810,516
TotalcashinbankperScheduleofCashAccounts: $ 2,488,723
Uninsuredpublicfunds: 2,238,723
Collateralrequirement: 1,119,362
Pledgedcollateralheldbypledgingfinancialinstitution: 1,810,516
Balanceovercollateralized: $ 691,154
BalanceuninsuredanduncollateralizedatJune30,2015: $ 428,207
Vol. III - 114
STATEOFNEWMEXICO
June30,2015
BankAccountType
NewMexico
Bank&Trust
$ 2,488,723
TotalonDeposit
2,488,723
ReconcilingItems
(12,756)
2,475,967
LessAgencyFunds
(27,066)
TotalCash
$ 2,448,901
Vol. III - 115
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
11000
Instructional
Materials
14000
LocalGrants
26000
State
Flowthrough
27000
$ 1,043,401
55,117
175,000
(5,643)
2,898,326
29,734
14,182
3,941,727
84,851
175,000
8,539
(2,667,940)
186,312
(70,838)
(25,085)

(10,594)

CashJune30,2015
1,389,261
59,766
175,000
(2,055)
CashperBooks

1,389,261

59,766

175,000
2,055

FundBalance,ModifiedAccrualBasis
(127,565)
$ 1,261,696
(355)
59,411
(175,000)

Cash,June30,2014
Add:
201415revenues
Totalcashavailable
Less:
201415expenditures
OutstandingLoans
Vol. III - 116
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
CapitalImprov.
HB33
31600
CapitalImprov.
SB9
31700
Total
(44,864)
(27,510)
625,054
(10,030)
1,810,525
239,877
27,510
201,838
14,061
3,425,528
195,013
826,892
4,031
5,236,053
(260,018)

(3,778)

(2,018)

(4,031)

(2,973,464)
186,312
(70,838)
(65,005)
(3,778)
824,874
2,378,063
65,005

3,778

824,874
70,838
2,448,901
3,467
828,341
(8,574)
(8,574)
(308,027)
2,140,874
Vol. III - 117
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
OtherReceivables
TotalCurrentAssets
72,458
435
535,960
NoncurrentAssets:
CapitalAssets
Totalcapitalassets
61,562
(33,799)
27,763
$463,067
TotalAssets
563,723
267,554
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
9,601
165,758
175,359
NetPensionLiability
2,037,507
2,037,507
TotalLiabilities
2,212,866
215,545
NETPOSITION
Restricted
UnrestrictedDeficit
27,763
207,878
(1,832,775)
TotalNetPosition
$(1,597,134)
Vol. III - 118
STATEOFNEWMEXICO
ProgramRevenues
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
Expenses
Chargesfor
Service
Operating
Grantsand
Contributions
$1,323,352
15,166
88,520
(1,219,666)
SupportServices:
Students
Instruction
82,285
10,201
28,402
282,394
(82,285)
(10,201)
(28,402)
(282,394)
CentralServices
FoodServices
FacilitiesMaterials,Supplies&OtherServices
100,430
541,017
54,579
209,406
13,251
40,865
209,406
(100,430)
(541,017)
(463)
$2,632,066
28,417
129,385
209,406
(2,264,858)
GeneralRevenues:
PropertyTaxes
$89,015
2,219,571
2,308,586
ChangeinNetPosition
43,728
297,315
RestatementRecognizedbyGASB68
(1,938,177)
NetPosition,Beginning,asRestated
(1,640,862)
NetPosition,Ending
$(1,597,134)
Vol. III - 119
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromOtherFunds
OtherReceivables
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
SubsequentYearsExpenditures
andOtherPrograms
TotalFundBalance
TotalLiabilitiesandFundBalances
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$ 250,733
35,614

65,750
435
4,204

$316,918
35,614
4,204
$ 3,777
160,418

164,195
5,824

5,824

4,204
4,204
29,790

152,723
152,723

29,790
$316,918
35,614
4,204
Vol. III - 120
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
14,475
59
14,475
59
5,340
9,135
14,475
IDEAB
Entitlement
24106
CNM
Foundation
26207
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
176,720
463,067
52,352

1,368
72,458
65,750
435
52,352
178,088
601,710
59
59

52,352
52,352
9,601
165,758
65,750
241,109
178,088
29,790
178,088
178,088
152,723
360,601
14,475
59
178,088
601,710
52,352
Vol. III - 121
STATEOFNEWMEXICO
June30,2015
FundBalancesTotalGovernmentalFunds
$ 360,601
CapitalAssets
61,562
(33,799)
27,763
resourcesand,therfore,arenotreportedinthefunds.
267,554
inthefunds.
(215,545)
Thenetpensionliabilityisnotdueandpayableinthecurrent
periodand,therefore,isnotreportedinthefunds.
(2,037,507)
$(1,597,134)
Vol. III - 122
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesInFundBalances
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$
1,493
2,219,571

15,166
2,236,230

21,984

21,984
40,865
13,251
54,116

21,529

21,529
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
1,185,521
34,099
21,529
81,611
10,201
28,402
273,497
99,669
538,330
463

2,217,694

34,099
54,116
54,116

21,529
18,536
(12,115)
FundBalancesBeginningofYear
134,187
41,905
FundBalancesEndofYear
$152,723
29,790
Vol. III - 123
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
CNM
Foundation
26207
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
41,784
41,784
59
59
1,171
1,171

500

500

209,406

209,406
89,015
89,015
89,015
1,993
2,450,961
105,408
28,417
2,675,794
41,784
458
500
1,283,891
41,784
59
59
331
382
1,171

500

209,406
209,406
81,670
10,201
28,402
273,828
100,051
538,330
54,579
209,406
2,580,358
89,015
95,436
89,073
265,165
178,088
360,601
Vol. III - 124
STATEOFNEWMEXICO
inFundBalancesofGovernmentalFundstotheStatementofActivities
$ 95,436
DepreciationExpense
(4,387)
Changesinlongtermliabilities
ChangeinNetPensionLiability
(47,321)
$43,728
Vol. III - 125
STATEOFNEWMEXICO
June30,2015
Agency
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$ 21,157
$21,157
$ 21,157
$21,157
Vol. III - 126
STATEOFNEWMEXICO
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$ 19,564
35,064
(33,471)
21,157
$19,564
35,064
(33,471)
21,157
$ 19,564
35,064
(33,471)
21,157
$19,564
35,064
(33,471)
21,157
Vol. III - 127
STATEOFNEWMEXICO
June30,2015

asincurred.AlbuquerqueSchoolofExcellencescapitalizationpolicy(i.e.,thedollarvalueabove
whichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.AlbuquerqueSchool
ofExcellencedoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. Albuquerque School of Excellence utilizes Internal Revenue Service
320years
Capital assets for Albuquerque School of Excellence are recorded in the Statement of Net
Position.
Pensions.Forpurposesofmeasuringthenetpensionliability,deferredoutflowsofresources
economicresourcesmeasurementfocusandtheaccrualbasisofaccounting.Forthispurpose,
Vol. III - 128
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Balance
Balance
Deletions
June30,2015
Furniture,FixturesandEquipment $
61,562
61,562
Total
61,562
61,562
(29,412)
(4,387)
(33,799)
Total
(29,412)
(4,387)
(33,799)
CapitalAssets,Net
$
32,150
(4,387)
27,763
functions:
Instruction
OperationsandMaintenanceofPlant
Total
1,700
2,687
4,387
AlbuquerqueSchoolofExcellenceleasesequipmentandfacilitiesundershorttermcancelable
operatingleases.RentalexpensesfortheyearendedJune30,2015was$577,952.Albuquerque
SchoolofExcellencesminimumfuturepaymentsontheseleasesareasfollows:
YearEndingJune30:
2016
538,956
Vol. III - 129
STATEOFNEWMEXICO
June30,2015
The informationcontainedwithinthisdisclosurerepresentsthepensioninformationspecificto
Albuquerque School of Excellence and does not include general disclosure information
Department.
Contributions. The contribution requirements of defined benefit plan members and
AlbuquerqueSchoolofExcellenceareestablishedinstatestatuteunderChapter10,Article11,
NMSA1978.Therequirementsmaybeamendedbyactsofthelegislature.Forthefiscalyear
ended June30, 2014, employerscontributed 13.15% if employees gross annual salary to the
Plan.Employeesearning$20,000orlesscontributed7.90%andemployeesearningmorethan
employerscontributed13.90%andemployeesearning$20,000orlesscontinuedtocontribute
of their gross annual salary. Contributions to the pension plan from Albuquerque School of
Excellencewere$138,505fortheyearendedJune30,2015.
employersportionwasestablishedasofthemeasurementdateofJune30,2014.AtJune30,
2015,AlbuquerqueSchoolofExcellencereportedaliabilityof$2,037,507foritsproportionate
share of the net pension liability. Albuquerque School of Excellences proportion of the net
by Section 221121, NMSA 1978. At June 30, 2014, Albuquerque School of Excellences
proportionwas0.03571%,whichwasanincreaseof0.00277%fromitsproportionmeasuredas
ofJune30,2013.
For the year ended June 30, 2015, Albuquerque School of Excellence recognized pension
expense of $185,826. At June 30, 2015, Albuquerque School of Excellence reported deferred
outflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsfromthefollowing
sources:
Vol. III - 130
STATEOFNEWMEXICO
June30,2015
Deferred
Outflowsof
Resources
$

ChangesinproportionanddifferencesbetweenAlbuquerque
SchoolofExcellencecontributionsandproportionateshareof
contributions
AlbuquerqueSchoolofExcellencecontributionssubsequentto
themeasurementdate
185,197
129,049
138,505
$267,554
215,545
Total
Deferred
Inflowsof
Resources
30,348
The amount of $138,505 reported as deferred outflows of resources related to pensions

resultingfromAlbuquerqueSchoolofExcellencecontributionssubsequenttothemeasurement
dateofJune30,2014willberecognizedasareductionofthenetpensionliabilityintheyear
endedJune30,2016.Otheramountsreportedasdeferredoutflowsofresourcesanddeferred
inflowsofresourcesrelatedtopensionswillberecognizedinpensionexpenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$ 12,035
12,035
16,148
46,278
$ 86,496
Vol. III - 131
STATEOFNEWMEXICO
June30,2015
Sensitivity of Albuquerque School of Excellences proportionate share of the net pension
pension liability to changes in the discount rate as of June 30, 2014. In particular, the table
TheSchoolsproportionateshareofthenet
pensionliability
1%Decrease
(6.75%)
$2,772,266
Current
DiscountRate
(7.75%)
2,037,507
1%Increase
(8.75%)
1,423,621
Payables to the pension plan. At June 30, 2015, Albuquerque School of Excellence owed
$40,798toERBforfiscalyear2015contributions.
NOTE5.RESTATEMENT
Vol. III - 132
Vol. III - 133
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

984
207.03%
2,038
2015
0.04%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 134
86
Total Amount
Deferred
Year
2014 $
86
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
12
2016
12
12
2017
12
-
16
2018
16
-
46
2019
46
-
2020
-
2015
129
129


STATE OF NEW MEXICO

June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
2,435,625

2,435,625

2,218,746

2,218,746
1,493
2,219,571
15,166
2,236,230
1,493
825
15,166
17,484
1,429,053
1,234,674
1,185,300
49,374
79,174
12,200
37,200
271,181
115,910
538,003
10,000
2,492,721
99,174
17,200
37,200
286,181
108,410
574,465
15,000
2,372,304
81,612
10,651
28,176
273,497
99,332
553,393
463
2,232,424
17,562
6,549
9,024
12,684
9,078
21,072
14,537
139,880
(57,096)
(153,558)
3,806
157,364
OtherFinancingSources(Uses):
DesignatedCash
57,096
57,096
153,558
153,558
(153,558)
(153,558)
3,806
3,806
134,187
134,187
137,993
137,993
REVENUES
Local&CountyGrant
StateGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
$3,806
14,730
$18,536
Vol. III - 135
STATEOFNEWMEXICO
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 15,323
15,323
21,984
21,984
21,984
21,984
38,561
38,561
45,222
45,222
28,275
28,275
16,947
16,947
(23,238)
(23,238)
(6,291)
16,947
DesignatedCash
23,238
23,238
23,238
23,238
(23,238)
(23,238)
(6,291)
(6,291)
41,905
41,905
35,614
35,614
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
$(6,291)
(5,824)
$(12,115)
Vol. III - 136
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 49,000
13,000
62,000
53,102
15,133
68,235
40,865
13,251
54,116
(12,237)
(1,882)
(14,119)
Original
Budget
EXPENDITURES
Current:
TotalExpenditures
62,000
62,000
68,235
68,235
54,116
54,116
14,119
14,119
Vol. III - 137
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 54,330
54,330
54,334
54,334
56,938
56,938
2,604
2,604
Original
Budget
EXPENDITURES
Current:
Instruction
TotalExpenditures
54,330
54,330
54,334
54,334
21,529
21,529
32,805
32,805
35,409
35,409
35,409
35,409
35,409
35,409
$35,409
(35,409)
Vol. III - 138
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 43,443
43,443
50,292
50,292
48,304
48,304
(1,988)
(1,988)
EXPENDITURES
Current:
Instruction
TotalExpenditures
43,443
43,443
50,292
50,292
41,784
41,784
8,508
8,508
6,520
6,520
6,520
6,520
6,520
6,520
$6,520
(6,520)
Vol. III - 139
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
59
59
668
668
609
609
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
Totalexpenditures
59
59
59
59
609
609
609
609
609
609
$609
(609)
Vol. III - 140
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 8,620
8,620
12,287
12,287
2,704
2,704
(9,583)
(9,583)
4,310
4,310
458
3,852
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
CentralServices
Totalexpenditures
4,310

8,620
6,310
1,667
12,287
331
382
1,171
5,979
1,285
11,116
1,533
1,533
1,533
1,533
1,533
1,533
$1,533
(1,533)
Vol. III - 141
STATEOFNEWMEXICO
CNMFoundation26207
BudgetedAmounts
Original
Budget
REVENUES
Local&CountyGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
500
500
500
500
EXPENDITURES
Current:
Instruction
TotalExpenditures
500
500
500
500
Vol. III - 142
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
209,406
209,406
213,938
213,938
4,532
4,532
209,406
209,406
209,406
209,406
4,532
4,532
4,532
4,532
4,532
4,532
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
$4,532
(4,532)
Vol. III - 143
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 102,491

102,491
102,491
7,179
109,670
87,647
87,647
(14,844)
(7,179)
(22,023)
196,225
196,225
203,404
203,404
203,404
203,404
(93,734)
(93,734)
87,647
181,381
DesignatedCash
89,073
89,073
89,073
89,073
(89,073)
(89,073)
(4,661)
(4,661)
87,647
92,308
89,073
89,073
CashorFundBalances(Deficit)EndofYear
$(4,661)
(4,661)
176,720
181,381
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
Original
Budget
$87,647
1,368
$89,015
Vol. III - 144
STATEOFNEWMEXICO
June30,2015
NameofDepository
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
SecurityType
FNAJ30704%
FNAJ37903%
FNAR38303%
FNAR91993%
FNAT58953%
FNAT95283%
FNAU09243.5%
FNAB64983%
FNAD16564.5%
CUSIP/Security
Number
3138AUMU8
3138AVF83
3138W1HG5
3138W7GH1
3138WTRR9
3138WXSS7
3138X0A24
31417DGG2
31418NZW3
MaturityDate
11/1/2041
11/1/2026
2/1/2043
3/1/2043
6/1/2043
7/1/2043
7/1/2043
10/1/2042
3/1/2040
FairValue
June30,2015
$ 18,855
477
13,635
6,672
21,544
5,357
97,053
9,361
19,424
$192,378
TotalCashinBankperScheduleofCashAccounts: $ 529,957
BalanceUninsuredandUncollateralizedatJune30,2015: $87,579
Vol. III - 145
STATEOFNEWMEXICO
June30,2015
BankAccountType
TotalonDeposit
WellsFargo
$ 529,957
529,957
ReconcilingItems
(45,733)
484,224
LessAgencyFunds
(21,157)
TotalCash
$463,067
Theaccompanyingnotesareanintegralpartofthesefinancialstatements.
Vol. III - 146
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
NonInstruct.
Fund
11000
14000
21000
23000
$ 166,255
41,905
19,564
2,236,230
21,984
54,116
35,064
2,402,485
63,889
54,116
54,628
(2,232,424)
37,348
43,324
(28,275)

(54,116)
(33,471)

CashJune30,2015
250,733
35,614
21,157
CashPerBooks

250,733

35,614

21,157
(98,010)
$ 152,723
(5,824)
29,790
(21,157)

Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. III - 147
FederalProjects
Account
Local
Grants
PublicSchool
CapitalOutlay
SB9Capital
Improvements
24000
26000
31200
31700
Total
89,073
316,806
108,614
500
213,938
87,647
2,758,093
108,614
509
213,938
176,720
3,074,899
(64,543)
(5,279)
(38,792)
(500)
(9)
(209,406)

(4,532)
(2,622,735)
32,060

176,720
484,224

176,720
LessAgencyFund:

484,224
(21,157)
$463,067
1,368
178,088
(123,623)
360,601
Vol. III - 148
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
DuefromGovernment
Other
Investments
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
$569,353
241,993
621
51,907
863,874
15,755
(13,400)
2,355
TotalAssets
866,229
314,693
CurrentLiabilities:
AccountsPayable
AccruedExpenses
DuetoGovernment
3,970
103,194
17,682
124,846
NetPensionLiability
1,910,270
1,910,270
TotalLiabilities
2,035,116
202,136
NETPOSITION
Restricted
2,355
365,676
(1,424,361)
TotalNetPosition
$(1,056,330)
Vol. III - 149
STATEOFNEWMEXICO
ProgramRevenues
Chargesfor
Service
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
$991,891
445,603
(546,288)
SupportServices:
Students
Instruction
496,661
51,595
29,970
297,970
(496,661)
(51,595)
(29,970)
(297,970)
132,592
41,308
16,695
221,675
38,096

239,277
31,438
(132,592)
(41,308)
(16,695)
17,602
(6,658)
72,260
229,199
156,939
$2,390,713
716,318
229,199
(1,445,196)
Expenses
CentralServices
FoodServices
Services
GeneralRevenues:
PropertyTaxes
Miscellaneous
$26,322
1,728,354
13,471
1,768,147
ChangeinNetPosition
322,951
407,515
(1,786,796)
NetPosition(Deficit),Beginning,asRestated
(1,379,281)
NetPosition(Deficit),Ending
$(1,056,330)
Vol. III - 150
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Other
Investments
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoGovernment
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
TotalFundBalance
Operational
11000
Pupil
Transportation
13000
Instructional
Materials
14000
Food
Services
21000
$236,869
51,924
9,462
1,020
230,636
621
271
$468,126
51,924
9,462
1,291
$3,910
90,864
94,774
938
17,682
18,620
33,304
9,462
1,291
373,352
373,352
33,304
9,462
1,291
$468,126
51,924
9,462
1,291
Vol. III - 151
TitleI
IASA
24101
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Title1
1003G
24124
Teacher
Principal
Training
24154
TitleI
School
Improvement
24162
21,293
6,182
20
175,034
1,000
4,000
21,293
6,182
20
175,034
1,000
4,000
1,103
20,190
21,293
6,182
6,182
20
20
8,152
166,882
175,034
1,000
1,000
4,000
4,000
21,293
6,182
20
175,034
1,000
4,000
Vol. III - 152
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Other
Investments
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoGovernment
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
TotalFundBalance
TitleXIX
Medicaid
25153
UnitedWay
26218
LibraryGO
Bonds
27107
$59,269
20,016
2,128
7,011
$59,269
20,016
2,128
7,011
708
708
2,128
2,128
1,429
5,582
7,011
59,269
19,308
59,269
19,308
$59,269
20,016
2,128
7,011
ReadstoLead
27114
Vol. III - 153
Private
DirectGrant
29102
McCune
Foundation
29114
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
141,695
32,091
17,007
569,353
51,907
24,652
402
241,993
230,636
621
51,907
193,602
32,091
24,652
17,409
1,094,510
60
60
24,652
24,652
3,970
103,194
17,682
230,636
355,482
193,602
32,031
17,409
120,070
1,291
33,304
211,011
193,602
32,031
17,409
373,352
739,028
193,602
32,091
24,652
17,409
1,094,510
Vol. III - 154
STATEOFNEWMEXICO
June30,2015
$739,028
CapitalAssets
15,755
(13,400)
2,355
resourcesand,therefore,arenotreportedinthefunds
314,693
inthefunds.
(202,136)
(1,910,270)
$(1,056,330)
Vol. III - 155
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
StateGrant
FederalGrant
Contributions
MiscellaneousIncome
TotalRevenues
Operational
11000
Pupil
Transportation
13000
Instructional
Materials
14000
Food
Services
21000
$
1,728,354

5,547
1,733,901

239,277

239,277
6,688
6,688

31,438

5,739
37,177
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
741,643
12,731
408,797
2,459
26,172
294,876
130,732
41,036

16,695
206

1,662,616

221,595

221,595
12,731

37,890

37,890
71,285
17,682
(6,043)
(713)
302,067
15,622
15,505
2,004
$373,352
33,304
9,462
1,291
Vol. III - 156
TitleI
IASA
24101
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Title1
1003G
24124
Teacher
Principal
Training
24154
TitleI
School
Improvement
24162
28,987
28,987
28,864
28,864
20
20

195,898

195,898

1,000

1,000
4,000
4,000
28,919
20
148,689
1,000
4,000
68
28,987
28,864
28,864
20

47,008

201

195,898

1,000
4,000
Vol. III - 157
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
StateGrant
FederalGrant
Contributions
MiscellaneousIncome
TotalRevenues
TitleXIX
Medicaid
25153
UnitedWay
26218
LibraryGO
Bonds
27107
ReadstoLead
27114
$

71,830

71,830

50,470

50,470
2,128
2,128

22,000

22,000
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
22,233
21,804
47,626

47,626
8,929

31,162
2,128
2,128

21,804
24,204
19,308
196
35,065
(196)
$59,269
19,308
Vol. III - 158
Private
DirectGrant
29102
McCune
Foundation
29114
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
165,852
2,185
168,037
33,718
33,718
62,945
62,945
26,322
402

26,724
26,322
2,061,794
362,037
250,040
13,471
2,713,664
1,687
982,726
3,798
1,295
1,284
6,377
1,687
62,945
62,945

9,315
9,315
494,284
51,595
29,970
296,171
132,016
41,237
221,595
16,695
38,096
72,260
2,376,645
161,660
32,031
17,409
337,019
31,942
402,009
193,602
32,031
17,409
739,028
Vol. III - 159
STATEOFNEWMEXICO
$337,019
DepreciationExpense
(3,151)
Changeinthenetpensionliability
(10,917)
$322,951
Vol. III - 160
STATEOFNEWMEXICO
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$9,356
$9,356
$9,356
$9,356
Vol. III - 161
STATEOFNEWMEXICO
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$5,762
12,523
(8,929)
9,356
$5,762
12,523
(8,929)
9,356
$5,762
12,523
(8,929)
9,356
$5,762
12,523
(8,929)
9,356
Vol. III - 162
STATEOFNEWMEXICO
June30,2015

as incurred. Albuquerque Sign Language Academys capitalization policy (i.e., the dollar value
abovewhichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.Albuquerque
SignLanguageAcademydoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value.Albuquerque Sign Language Academy utilizes Internal Revenue Service
315years
CapitalassetsforAlbuquerqueSignLanguageAcademyarerecordedintheStatementofNet
Position.
benefitspayments(includingrefundsofemployeecontributions)arerecognizedwhendueand
Vol. III - 163
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Total
Total
CapitalAssets,Net
Balance
Balance
Deletions
June30,2015
15,755
15,755
15,755
15,755
(10,249) (3,151)
(13,400)
(10,249) (3,151)
(13,400)
$ 5,506 (3,151)
2,355
functions:
Instruction
Total
2,105
1,046
3,151
NOTE3.INVESTMENTS
During 2015 the School received as a contribution an investment portfolio of common stock
valuedat$49,722.As ofJune30,2015thevalueofthecommonstockwas$51,907andwas
restrictedbythedonorforcapitalimprovements.
CustodialCreditRisk:Thecustodialcreditriskforinvestmentsistheriskthat,intheeventofthe
failureofthecounterparty(e.g.,brokerdealer)toatransaction,theSchoolwillnotbeableto
recover the value of its investments in the possession of another party. All of the Schools
investmentsareregisteredorheldbytheSchoolsagentintheSchoolsname.
Interest Rate Risk: Interest rate risk is the risk that changes in market interest rates will
adversely affect the fair value of an investment. Generally, the longer the maturity of an
investmentthegreaterthesensitivityofitsfairvaluetochangesinmarketinterestrates.None
oftheSchoolsinvestmentsincommonstockaresubjecttointerestrateriskatJune30,2015.
Vol. III - 164
STATEOFNEWMEXICO
June30,2015
NOTE3.INVESTMENTS(CONTINUED)
Generally,creditriskistheriskthatanissuerofaninvestmentwillnotfulfillitsobligationtothe
holder of the investment. This is measured by the assignment of a rating by a nationally
recognized statistical rating organization. However, none of the Schools investments in
commonstockatJune30,2015areratedandtheSchooldoesnothaveapolicylimitingcredit
risk.
Concentration of Credit Risk: Concentration of credit risk is the risk of loss attributed to the
magnitudeofanentitysinvestmentinasingleissuer.TheSchoolplacesnolimitontheamount
that these investments may be invested in any one issuer. The School had the following
investmentsincommonstockatJune30,2015:
Clorox
Dr.Pepper
Hasbro
Johnson&Johnson
Total
6,761
14,580
10,471
20,095
51,907
AlbuquerqueSignLanguageAcademyleasesfacilitiesunderashorttermcancelableoperating
lease. Lease expense for the year ended June 30, 2015 was $62,945. Albuquerque Sign
LanguageAcademysminimumfuturepaymentsonthisleaseareasfollows:
YearEndingJune30:
2016
Total
$
$
69,555
69,555
The School Administrators spouse is employed by a company that provides information
technologyservicestotheSchool.Totalpaymentstothiscompanywere$13,954.Additionally,
the spouse of the Schools Executive Director provided professional services related to grant
applicationsandrenewingtheSchoolscharter.Totalpaymentstothisindividualwere$9,305.
Vol. III - 165
STATEOFNEWMEXICO
June30,2015
Albuquerque Sign Language Academy and does not include general disclosure information
Department.
Contributions. The contribution requirements of defined benefit plan members and
AlbuquerqueSignLanguageAcademyareestablishedinstatestatuteunderChapter10,Article
11, NMSA 1978. The requirements may be amended by acts of the legislature. For the fiscal
yearendedJune30,2014,employerscontributed13.15%ofemployeesgrossannualsalaryto
the Plan. Employees earning $20,000 or less contributed 7.90% and employees earning more
than $20,000 contributed 10.10% of their gross annual salary. For fiscal year ended June 30,
2015 employers contributed 13.90% and employees earning $20,000 or less continued to
contribute7.90%andemployeesearningmorethan$20,000contributedanincreasedamount
of 10.70% of their gross annual salary. Contributions to the pension plan from Albuquerque
SignLanguageAcademywere$171,201fortheyearendedJune30,2015.
2015, Albuquerque Sign Language Academy reported a liability of $1,910,270 for its
proportionate share of the net pension liability. Albuquerque Sign Language Academys
proportion of the net pension liability is based on the employer contributing entitys
percentage of total employer contributions for the fiscal year ended June 30, 2014. The
contribution amounts were defined by Section 221121, NMSA 1978. At June 30, 2014,
Albuquerque Sign Language Academys proportion was 0.03348%, which was an increase of
0.00308%fromitsproportionmeasuredasofJune30,2013.
Vol. III - 166
STATEOFNEWMEXICO
June30,2015
For the year ended June 30, 2015, Albuquerque Sign Language Academy recognized pension
expense of $182,118. At June 30, 2015, Albuquerque Sign Language Academy reported
deferredoutflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsfromthe
followingsources:
Deferred
Outflowsof
Resources
Deferred
Inflowsof
Resources
28,460
173,676
Changes in proportion and differences between

AlbuquerqueSignLanguageAcademyscontributionsand
proportionateshareofcontributions
143,492
Albuquerque Sign Language Academys contributions

171,201
Total
$314,693
202,136

resulting from Albuquerque Sign Language Academys contributions subsequent to the
measurement date of June 30, 2014 will be recognized as a reduction of the net pension
liability in the year ended June 30, 2016. Other amounts reported as deferred outflows of
resourcesanddeferredinflowsofresourcesrelatedtopensionswillberecognizedinpension
expenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$3,470
3,470
8,264
43,440
$58,644
Vol. III - 167
STATEOFNEWMEXICO
June30,2015
SensitivityofAlbuquerqueSignLanguageAcademysproportionateshareofthenetpension
1%Decrease
(6.75%)
Albuquerque Sign Language Academys

liability
$2,599,144
Current
Discount
Rate
(7.75%)
1%Increase
(8.75%)
1,910,270
1,335,059
Payables to the pension plan. At June 30, 2015, Albuquerque Sign Language Academy owed
$33,316toERBforfiscalyear2015contributions.
NOTE7.RESTATEMENT
AsaresultofimplementationofGASBNo.68,AccountingandFinancialReportingforPensions,
netpositionatJune30,2015wasrestatedintheamountof$(1,786,796).
Vol. III - 168
Vol. III - 169
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

923
206.97%
1,910
2015
0.03%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 170
59
Total Amount
Deferred
Year
2014 $
59
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
2016
3
-
2017
4
-
2018
2020
-
2019
44
-
44
2015
121
121


STATE OF NEW MEXICO

June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
REVENUES
StateGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$1,747,312
1,747,312
1,728,354
1,728,354
1,728,354
4,926
1,733,280
4,926
4,926
978,879
987,237
742,233
245,004
412,924
6,500
18,500
306,335
126,159
71,215
16,800
1,937,312
439,838
6,737
27,435
333,674
135,622
59,442
36,800
6,335
2,033,120
408,797
2,021
23,047
296,504
120,367
41,036
22,380
5,041
1,661,426
31,041
4,716
4,388
37,170
15,255
18,406
14,420
1,294
371,694
Original
Budget
(190,000)
(304,766)
71,854
376,620
DesignatedCash
190,000
190,000
304,766
304,766
(304,766)
(304,766)
71,854
71,854
302,067
302,067
373,921
373,921
$71,854
621
(1,190)
$71,285
Vol. III - 171
STATEOFNEWMEXICO
PupilTransportation13000
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$241,662
241,662
256,959
256,959
256,959
256,959
EXPENDITURES
Current:
Instruction
TotalExpenditures
241,662
241,662
15,297
241,662
256,959
221,595
221,595
15,297
20,067
35,364
35,364
35,364
35,364
35,364
15,622
15,622
50,986
50,986
$35,364
(17,682)
$17,682
Vol. III - 172
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$4,346
4,346
6,688
6,688
7,932
7,932
1,244
1,244
17,849
17,849
20,191
20,191
13,285
13,285
6,906
6,906
(13,503)
(13,503)
(5,353)
8,150
DesignatedCash
13,503
13,503
13,503
13,503
(13,503)
(13,503)
(5,353)
(5,353)
15,505
15,505
10,152
10,152
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
Original
Budget
$(5,353)
(1,245)
555
$(6,043)
Vol. III - 173
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$34,000
34,000
38,178
38,178
32,142
5,468
37,610
(6,036)
5,468
(568)
Original
Budget
EXPENDITURES
Current:
TotalExpenditures
34,000
34,000
40,182
40,182
37,890
37,890
2,292
2,292
(2,004)
(280)
1,724
OperatingTransfers
DesignatedCash
2,004
2,004
(2,004)
(2,004)
(280)
(280)
2,004
2,004
1,724
1,724
$(280)
(704)
271
$(713)
Vol. III - 174
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$17,965
17,965
33,213
33,213
8,616
8,616
(24,597)
(24,597)
17,465
32,713
28,919
3,794
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
500
17,965
500
33,213
68
28,987
432
4,226
(20,371)
(20,371)
(20,371)
(20,371)
(20,371)
(20,371)
$(20,371)
20,371
Vol. III - 175
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$23,335
23,335
32,558
32,558
27,559
27,559
(4,999)
(4,999)
23,335
23,335
32,558
32,558
28,864
28,864
3,694
3,694
(1,305)
(1,305)
(1,305)
(1,305)
(1,305)
(1,305)
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
Original
Budget
$(1,305)
1,305
Vol. III - 176
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
20
20
85,175
85,175
85,155
85,155
EXPENDITURES
Current:
Instruction
TotalExpenditures
20
20
20
20
85,155
85,155
85,155
85,155
85,155
85,155
Original
Budget
REVENUES
FederalGrant
TotalRevenues
$85,155
(85,155)
Vol. III - 177
STATEOFNEWMEXICO
TitleI1003G24124
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
328,370
328,370
20,864
20,864
(307,506)
(307,506)
198,609
148,689
49,920
129,261
500
328,370
47,008
200
195,897
82,253
300
132,473
(175,033)
(175,033)
(175,033)
(175,033)
(175,033)
(175,033)
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Instruction
TotalExpenditures
$(175,033)
175,033
Vol. III - 178
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$3,217
3,217
4,136
4,136
5,763
5,763
1,627
1,627
EXPENDITURES
Current:
Instruction
Totalexpenditures
3,217
3,217
4,136
4,136
1,000
1,000
3,136
3,136
4,763
4,763
4,763
4,763
4,763
4,763
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$4,763
(4,763)
Vol. III - 179
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
4,000
4,000
13,297
13,297
9,297
9,297
EXPENDITURES
Current:
Instruction
Totalexpenditures
4,000
4,000
4,000
4,000
9,297
9,297
9,297
9,297
9,297
9,297
Original
Budget
REVENUES
FederalGrant
TotalRevenues
$9,297
(9,297)
Vol. III - 180
STATEOFNEWMEXICO
TitleXIXMedicaid25153
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$56,000
56,000
56,000
56,000
80,659
80,659
24,659
24,659
66,400
66,400
93,003
93,003
47,627
47,627
45,376
45,376
(10,400)
(37,003)
33,032
70,035
Operatingtransfers
DesignatedCash
10,400
10,400
37,003
37,003
(37,003)
(37,003)
33,032
33,032
35,065
35,065
68,097
68,097
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
Original
Budget
$33,032
(8,828)
$24,204
Vol. III - 181
STATEOFNEWMEXICO
UnitedWay26218
BudgetedAmounts
REVENUES
Contributions
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$50,000
50,000
50,000
50,000
50,470
50,470
470
470
32,204
32,204
22,232
9,972
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
17,796
50,000
17,796
50,000
8,930
31,162
8,866
18,838
19,308
19,308
19,308
19,308
19,308
19,308
$19,308
$19,308
Vol. III - 182
STATEOFNEWMEXICO
2012GOBondStudentLibrary27107
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$3,086
3,086
3,086
3,086
(3,086)
(3,086)
3,086
3,086
3,086
3,086
2,128
2,128
958
958
(2,128)
(2,128)
(2,128)
(2,128)
(2,128)
(2,128)
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Instruction
TotalExpenditures
$(2,128)
2,128
Vol. III - 183
STATEOFNEWMEXICO
ReadstoLead27114
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$22,000
22,000
22,000
22,000
20,171
20,171
(1,829)
(1,829)
Original
Budget
EXPENDITURES
Current:
Instruction
TotalExpenditures
22,000
22,000
22,000
22,000
22,000
22,000
(1,829)
(1,829)
(1,829)
(1,829)
(196)
(196)
(2,025)
(2,025)
$(1,829)
1,829
196
$196
Vol. III - 184
STATEOFNEWMEXICO
PrivateDirectGrants29102
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$25,000
25,000
25,000
25,000
165,852
2,185
168,037
140,852
2,185
143,037
10,000
10,000
10,000
5,000
39,500
54,500
5,000
40,658
1,284
56,942
3,798
1,295
1,284
6,377
1,202
39,363
50,565
(29,500)
(31,942)
161,660
193,602
DesignatedCash
29,500
29,500
31,942
31,942
(31,942)
(31,942)
161,660
161,660
31,942
31,942
193,602
193,602
REVENUES
Contributions
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
CentralServices
TotalExpenditures
Original
Budget
$161,660
$161,660
Vol. III - 185
STATEOFNEWMEXICO
McCuneFoundation29114
BudgetedAmounts
Original
Budget
REVENUES
Contributions
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
20,000
20,000
20,000
20,000
2,200
1,627
573
15,000
15,000
11,518
13,718
1,627
11,518
12,091
(15,000)
(13,718)
18,373
32,091
DesignatedCash
15,000
15,000
13,718
13,718
(13,718)
(13,718)
18,373
18,373
18,373
18,373
EXPENDITURES
Current:
Instruction
SupportServices:
TotalExpenditures
$18,373
13,718
(60)
$32,031
Vol. III - 186
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
62,945
62,945
51,057
51,057
(11,888)
(11,888)
62,945
62,945
62,945
62,945
(11,888)
(11,888)
(11,888)
(11,888)
(11,888)
(11,888)
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
$(11,888)
11,888
Vol. III - 187
STATEOFNEWMEXICO
SB9CapitalFund31700
BudgetedAmounts
REVENUES
PropertyTaxes
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$26,563
26,563
26,563
26,563
26,322
26,322
(241)
(241)
Original
Budget
EXPENDITURES
CapitalOutlay
TotalExpenditures
26,563
26,563
26,563
26,563
9,315
9,315
17,248
17,248
17,007
17,007
17,007
17,007
17,007
17,007
$17,007
402
$17,409
Vol. III - 188
STATEOFNEWMEXICO
June30,2015
NameofDepository
SunTrustBank,Atlanta
SunTrustBank,Atlanta
SecurityType
FarmersvilleTexCTFSOblig.
GNMAPassthru
CUSIP/Security
Number
311001DH1
36184BD79
MaturityDate
2/15/2016
2/20/2045
FairValue
June30,2015
$174,260
211,060
$385,320
TotalCashperScheduleofCashAccounts: $613,761
Vol. III - 189
STATEOFNEWMEXICO
June30,2015
BankAccountType
TotalonDeposit
USBank
$613,761
613,761
ReconcilingItems
(35,052)
578,709
LessAgencyFunds
(9,356)
TotalCash
$569,353
Vol. III - 190
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Pupil
Transportation
Instructional
Materials
Food
Services
11000
13000
14000
21000
$ 256,976
32,296
14,815
1,300
1,733,280
256,959
7,932
37,610
1,990,256
289,255
22,747
38,910
(1,661,426)
15,608
(107,569)
(221,595)
(15,736)

(13,285)
(37,890)

CashJune30,2015
236,869
51,924
9,462
1,020
CashPerBooks

236,869

51,924
9,462

1,020
136,483
$ 373,352
(18,620)
33,304
9,462
271
1,291
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. III - 191
NonInstruct.
Fund
FederalProjects
Account
FederalDirect
Account
Local
Account
State
Account
Localor
StateAccount
23000
24000
25000
26000
27000
29000
5,762
26,237
45,660
12,523
161,274
80,659
50,470
20,171
188,037
18,285
161,274
106,896
50,470
20,171
233,697
(8,929)
(201,040)
(52,578)
92,344
(47,627)

(31,162)
708

(24,128)
620
3,337
(8,004)
(51,907)

9,356
59,269
20,016
173,786
9,356

59,269

20,016

173,786
(9,356)

59,269
(708)
19,308
51,847
225,633
Vol. III - 192
STATEOFNEWMEXICO
CashReconciliation(continued)
June30,2015
Cash,June30,2014
PublicSchool
CapitalOutlay
SB9Capital
Improvements
31200
31700
Total
383,046
51,057
26,322
2,626,294
51,057
26,322
3,009,340
(62,945)

11,888
(9,315)

(2,327,346)
(103,285)
17,007
578,709
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
CashJune30,2015

CashPerBooks

17,007
578,709
(9,356)
$569,353
402
17,409
160,319
739,028
Vol. III - 193
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Vehicles
TotalAssets
$ 602,969
89,624
692,593
43,341
98,390
5,836
(67,502)
80,065
772,658
DeferredOutflowPensionRelated
479,434
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
CompensatedAbsences
9,144
106,966
21,848
137,958
NetPensionLiability
TotalLiabilities
1,885,164
1,885,164
2,023,122
199,451
NETPOSITION
Restricted
Unrestricted(Defecit)
TotalNetPosition
80,065
115,390
(1,165,936)
$ (970,481)
Vol. III - 194
STATEOFNEWMEXICO
StatementOfActivities
ProgramRevenues
Net
(Expenses)
Revenuesand
Changesin
NetPosition
Capital
Grantsand
Contributions
Expenses
Chargesfor
Service
Operating
Grantsand
Contributions
$1,008,374
23,999
80,227
(904,148)
324,870
294
55,322
341,485
116,543
(208,327)
(294)
(55,322)
(341,485)
CentralServices
Services
84,221
112,323
27,109
(84,221)
(112,323)
(27,109)
132,942
105,137
(27,805)
$2,086,940
23,999
196,770
105,137
(1,761,034)
Functions/Programs
GovernmentalActivities:
Instruction
SupportServices:
Students
Instruction
GeneralRevenues:
Propertytaxes
Miscellaneous
$56,541
1,586,964
26,220
1,669,725
ChangeinNetPosition
(91,309)
NetPositionBeginning
PriorPeriodAdjustment
787,314
(1,666,486)
(879,172)
NetPosition,Ending
$(970,481)
Vol. III - 195
STATEOFNEWMEXICO
June30,2015
Operational
11000
Instructional
Materials
14000
TitleI
IASA
24101
$489,003
11,458

86,795
34,809
$575,798
11,458
34,809
9,144
105,561

114,705
34,809
34,809
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
TotalFundBalance

461,093
461,093
11,458

11,458
$575,798
11,458
34,809
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
IDEAB
Entitlement
24106
Vol. III - 196
Teacher DualCredit
Next
Youth
Private
Principal Instructional Generation Conservation DirGrants PublicSchool SB9Capital
Training
Materials Assessments
Corp
(Categorical) CapitalOutlay Improvements
Total
24154
27103
27185
28133
29102
31200
31700
Government
1,273
30,322
70,913
602,969
4,897
563
20,720

25,806

2,829
89,624
86,795
4,897
563
21,993
30,322
25,806
73,742
779,388
4,897
4,897
563
563

1,273
20,720
21,993

132

132

25,806
25,806
9,144
106,966
86,795
202,905
30,190

30,190
73,742
73,742
41,648
73,742
461,093
576,483
4,897
563
21,993
30,322
73,742
779,388
25,806
Vol. III - 197
STATEOFNEWMEXICO
June30,2015
$576,483
CapitalAssets
147,567
(67,502)
80,065
financialresourcesand,thereforearenotreportedinthe
funds.
479,434
NetPensionLiability
CompensatedAbsences
(1,885,164)
(21,848)
(1,907,012)
inthefunds
(199,451)
$ (970,481)
Vol. III - 198
STATEOFNEWMEXICO
StatementOfRevenues,Expenditures,AndChangesInFundBalances(Deficit)
GovernmentalFunds
Operational
11000
Instructional
Materials
14000
TitleI
IASA
24101
IDEAB
Entitlement
24106
$
6,220
1,586,964
23,999
1,617,183
10,388
10,388
34,809
34,809
30,133
30,133
885,676
5,211
30,815
15,033
191,458
294
49,541
311,263
78,873
111,297
1,628,402
5,211
3,994
34,809
15,100
30,133
(11,219)
5,177
(11,219)
5,177
637,869
6,281
(165,557)
$461,093
11,458
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CommunityServicesOperationss
CapitalOutlay
TotalExpenditures
Vol. III - 199
Teacher
Principal
Training
24154
DualCredit
Next
Youth
Private
Instructional Generation Conservation DirGrants PublicSchool SB9Capital
Materials Assessments
Corp
(Categorical) CapitalOutlay Improvements
Total
Government
27103
27185
28133
29102
31200
31700
4,897
4,897
2,071
2,071

114,472

114,472

20,000

20,000

103,223

103,223
56,541
1,914
58,455
56,541
26,220
1,819,032
69,839
23,999
1,995,631
4,897
2,071
943,703
4,897
2,071
102,164

12,262

114,426

3,172
8,869

14,847

26,888

103,223
103,223
15,721
15,721
312,716
294
52,713
320,132
78,873
111,297
27,109
118,944
1,965,781
46
(6,888)
42,734
29,850
46
(6,888)
42,734
29,850
(46)
37,078
31,008
712,190
(165,557)
30,190
73,742
576,483
Vol. III - 200
STATEOFNEWMEXICO
$ 29,850
ChangeinCompensatedAbsences
(2,909)
CapitalOutlays
DepreciationExpense
1,200
(15,198)
(13,998)
position.
(104,252)
$(91,309)
Vol. III - 201
STATEOFNEWMEXICO
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$ 18,166
$ 18,166
$ 18,166
$ 18,166
Vol. III - 202
STATEOFNEWMEXICO
Balance
July1,2014
ASSETS
CashinBank
TotalAssets
LIABILITIES
DepsoitsHeldforOthers
TotalLiabilities
Additions
Deductions
Balance
June30,2015
$ 31,232
16,389
(29,455)
18,166
$ 31,232
16,389
(29,455)
18,166
$ 31,232
16,389
(29,455)
18,166
$ 31,232
16,389
(29,455)
18,166
Vol. III - 203
STATEOFNEWMEXICO
June30,2015

asincurred.TheAldoLeopoldCharterSchoolscapitalizationpolicy(i.e.,thedollarvalueabove
which the asset acquisitions are added to the capital accounts) is $5,000. The Aldo Leopold
CharterSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
withnosalvagevalue.TheDepartmentutilizesInternalRevenueServiceguidelinestoestimate
theusefullivesoncapitalassetsasfollows:
Vehicles
5years
10years
30years
CapitalassetsfortheAldoLeopoldCharterSchoolarerecordedintheStatementofNetPosition.
Vol. III - 204
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS

Buildingsandimprovements
Vehicles
Total
NetFixedAssets
Balance
June30,2014
Additions
87,826
43,341
15,200
146,367
(52,304)
94,063
1,200
1,200
(15,198)
(13,998)
Reclass
(81,990)
81,990
Balance
June30,2015
5,836
43,341
98,390
147,567
(67,502)
80,065
DepreciationexpensedfortheyearendedJune30,2015wasexpensedtothefollowingfunctions:
CapitalOutlay
Total
$
$
15,198
15,198

NOTE3.COMMITEMENTSANDCONTINGENCIES
TheAldoLeopoldCharterSchoolleasedfacilitiesandequipmentundershorttermcancelableoperating
leases. Rental expense for the year ended June 30, 2015 was $137,089. The schools minimum future
paymentsonthisleaseareasfollows.
YearEndingJune30:
2016
2017
2018
2019
2020
2021
73,932
73,932
73,932
73,932
73,932
73,932
$443,592
The school had a compensated absences balance of $18,939 at the beginning of the fiscal year.
Additionstothebalancewere$2,909,whichresultedinanendingbalanceof$21,848.Allofthisbalance
isconsideredtobecurrent.
Vol. III - 205
STATEOFNEWMEXICO
June30,2015
NOTE3.COMMITEMENTSANDCONTINGENCIES(CONTINUED)
TheSchoolisadefendantinalawsuitthathasasettrialdateofJuly18,2016.TheJudgepresidingover
the case has ordered all parties to attend mediation before the end of February 2016. The attorney
representingtheschoolhassetthechanceofadefendantverdictatlessthanlikely.TheTortClaimsAct
andprevailingcaselawdictatethatthemaximumliabilitywouldbe$750,000.However,theplaintiffs
haveassertedthatthiscaseisnotcoveredundertheNewMexicoTortClaimsActinanattempttoavoid
liabilitycaps.Withthecasebeingveryearlyinthediscoveryphase,thepossibleliabilityisnotabletobe
reasonablyestimatedasofthistime.
theAldoLeopoldCharterSchoolanddoesnotincludegeneraldisclosureinformationpertaining
to the New Mexico Educational Employees Retirement Plan. General disclosure information
includingplandescription,benefitsprovided,applicableactuarialassumptions,andlocationfor
additional information about the New Mexico Educational Retirement Boards fiduciary net
positioncanbefoundwithinthebasicfinancialstatementsofthePublicEducationDepartment.
Contributions. The contribution requirements of defined benefit plan members and Aldo
Leopold Charter School are established in state statute under Chapter 10, Article 11, NMSA
1978.Therequirementsmaybeamendedbyactsofthelegislature.Forthefiscalyear,ended
June 30, 2014 employers contributed 13.15% of employees gross annual salary to the Plan.
$20,000contributed10.10%oftheirgrossannualsalary.Forfiscalyear,endedJune30,2015
of their gross annual salary. Contributions to the pension plan from Aldo Leopold Charter
Schoolwere$143,054fortheyearendedJune30,2015.
Vol. III - 206
STATEOFNEWMEXICO
June30,2015
2015,AldoLeopoldCharterSchoolreportedaliabilityof$1,885,164foritsproportionateshare
ofthenetpensionliability.AldoLeopoldCharterSchoolsproportionofthenetpensionliability
isbasedontheemployercontributingentityspercentageoftotalemployercontributionsfor
thefiscalyearendedJune30,2014.ThecontributionamountsweredefinedbySection2211
21, NMSA 1978. At June 30, 2014, Aldo Leopold Charter Schools proportion was 0.03304%
percent,whichwasanincreaseof0.00722%fromitsproportionmeasuredasofJune30,2013.
FortheyearendedJune30,2015,AldoLeopoldCharterSchoolrecognizedpensionexpenseof
$247,306. At the June 30, 2015, Aldo Leopold Charter School reported deferred outflows of
Differencesbetweenexpectedandactuarial experience
Deferred
Outflowsof
Resources
Deferred
Inflowsof
Resources
28,082
Net difference between projected and actual earnings on

171,369
Changes in proportion and differences between Aldo

Leopold Charter School contributions and proportionate
336,380
Aldo Leopold Charter School contributions subsequent to

themeasurementdate
143,054
$ 479,434
199,451
Total
Vol. III - 207
STATEOFNEWMEXICO
June30,2015
$143,054 reported as deferred outflows of resources related to pensions resulting from Aldo
LeopoldCharterSchoolcontributionssubsequenttothemeasurementdateJune30,2014will
YearendedJune30:
2016
2017
2018
2019
Total
$(64,205)
(64,205)
(51,359)
42,840
$(136,929)
SensitivityofAldoLeopoldCharterSchoolsproportionateshareofthenetpensionliabilityto
Current
Discount
1%Decrease
Rate
1%Increase
(6.75%)
(7.75%)
(8.75%)
Aldo
Leopold
Charter
Schools
liability
$2,564,986
1,885,164
1,317,320
Vol. III - 208
STATEOFNEWMEXICO
June30,2015
NOTE5.RESTATEMENT
The School had a payroll that was for FY2015 and was paid on that date. However, in the
system it was dated July 1, 2014 and was not posted as an accrual in the previous years
financialstatements.Theeffectofthistransactionwastodecreasebeginningfundbalanceby
$165,557. Additionally, as a result of implementation of GASB Statement No. 68, Accounting
andFinancialReportingforPensions,netpositionatJune30,2014wasrestatedandreducedby
$1,500,929.Totalreductiontobeginningnetpositionamountedto$1,666,486.
Vol. III - 209
Vol. III - 210
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

911
206.92%
1,885
2015
0.0330%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

Aldo Leopold Charter School
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 211
(137)
Total Amount
Deferred
Year
2014 $
(137)
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
(64)
2016
(64)
(64)
2017
(64)
-
(51)
2018
(51)
-
2020
-
2019
42
-
42
2015
120
120


STATE OF NEW MEXICO

Aldo Leopold Charter School
June 30, 2015
2021
-
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
1,574,662

1,574,662

1,586,964

1,586,964
6,220
1,586,964
23,999
1,617,183
6,220

23,999
30,219
1,076,176
1,084,176
885,676
198,500
162,282

64,761
354,398
104,143
237,449
24,507
2,023,716
166,584

64,761
354,398
104,143
237,449
24,507
2,036,018
193,885
294
43,142
305,393
78,873
108,852
1,616,115
(27,301)
(294)
21,619
49,005
25,270
128,597
24,507
419,903
(449,054)
(449,054)
1,068
450,122
(449,054)
(449,054)
1,068
450,122
637,869
637,869
(165,557)
(165,557)
$ (449,054)
(449,054)
473,380
922,434
REVENUES
Local&CountyGrant
StateGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
Original
Budget
$1,068
(12,287)
$(11,219)
Vol. III - 212
STATEOFNEWMEXICO
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 7,363
7,363
10,388
10,388
10,388
10,388
EXPENDITURES
Current:
Instruction
TotalExpenditures
13,368
13,368
16,393
16,393
5,211
5,211
11,182
11,182
(6,005)
(6,005)
5,177
11,182
(6,005)
(6,005)
5,177
11,182
6,281
6,281
$ (6,005)
(6,005)
11,458
17,463
REVENUES
StateGrant
TotalRevenues
$5,177
$5,177
Vol. III - 213
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 24,198
24,198
37,202
37,202
11,432
11,432
(25,770)
(25,770)
17,811
30,815
30,815
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
6,387
24,198
6,387
37,202
3,994
34,809
2,393
2,393
(23,377)
(23,377)
(23,377)
(23,377)
(23,377)
(23,377)
$(23,377)
23,377
Vol. III - 214
STATEOFNEWMEXICO
BudgetedAmounts
OriginalBudget FinalBudget
REVENUES
FederalGrant
TotalRevenues
Actual
Amount
Variance
Positive
(Negative)
$ 27,100
27,100
30,133
30,133
50,261
50,261
20,128
20,128
12,000
15,033
15,033
15,100
27,100
15,100
30,133
15,100
30,133
20,128
20,128
20,128
20,128
20,128
20,128
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
Excess(Deficency)ofRevenues
$20,128
(20,128)
Vol. III - 215
STATEOFNEWMEXICO
TeacherandPrincipalTraining24154
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Variance
Positive
(Negative)
Actual
Amount
$ 4,897
4,897
4,897
4,897
(4,897)
(4,897)
EXPENDITURES
Current:
Instruction
TotalExpenditures
4,897
4,897
4,897
4,897
4,897
4,897
(4,897)
(4,897)
(4,897)
(4,897)
(4,897)
(4,897)
$(4,897)
4,897
Vol. III - 216
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
2,071
2,071
1,508
1,508
(563)
(563)
EXPENDITURES
Current:
TotalExpenditures
2,071
1,508
(563)
2,071
1,508
(563)
2,071
1,508
(563)
$1,508
563
(2,071)
$
Vol. III - 217
STATEOFNEWMEXICO
NextGenerationAssessments27185
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
1,442
1,442
1,442
1,442
EXPENDITURES
Current:
TotalExpenditures
1,442
1,442
1,442
1,442
CashorFundbalancesEndofYear
1,442
1,442
$1,442
(1,442)
Vol. III - 218
STATEOFNEWMEXICO
YouthConservationCorp28133
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
140,134
140,134
128,396
128,396
(11,738)
(11,738)
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
120,512
12,517
133,029
102,164
12,308
114,472
18,348
209
18,557
7,105
13,924
6,819
7,105
13,924
6,819
(46)
(46)
7,105
13,878
6,773
REVENUES
StateGrant
TotalRevenues
Original
Budget
$13,924
(13,924)
46
$46
Vol. III - 219
STATEOFNEWMEXICO
PrivateDirGrants(Categorical)29102
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
20,000
20,000
20,000
20,000
EXPENDITURES
Current:
SupportServices:
CentralServices
TotalExpenditures

7,500

28,686
36,186
3,300
7,500
2,000
43,386
56,186
3,172
8,869
14,847
26,888
128
(1,369)
2,000
28,539
29,298
(36,186)
(36,186)
(6,888)
29,298
(36,186)
(36,186)
(6,888)
29,298
CashorDundBalancesBeginningofYear
37,078
37,078
$ (36,186) $ (36,186) $30,190
66,376
REVENUES
Local&CountyGrant
TotalRevenues
$(6,888)
$(6,888)
Vol. III - 220
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
103,223
103,223
30,338
30,338
(72,885)
(72,885)
103,223
103,223
103,223
103,223
(72,885)
(72,885)
(72,885)
(72,885)
(72,885)

(72,885)
Original
Budget
$(72,885)
72,885
Vol. III - 221
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
Variance
Positive
(Negative)
OriginalBudget
FinalBudget
Actual
Amount
$ 52,842
1,914
54,756
52,842
5,615
58,457
55,626
55,626
2,784
(5,615)
(2,831)
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
54,756
54,756
58,457
58,457
15,721
15,721
42,736
42,736
39,905
39,905
39,905
39,905
31,008
31,008
70,913
70,913
$39,905
2,829
$42,734
Vol. III - 222
STATEOFNEWMEXICO
June30,2015
NameofDepository
FirstAmericanBank
FirstAmericanBank
FirstAmericanBank
FirstAmericanBank
SecurityType
FHLBSLVRHatchVYSD11
FHLBSLVRBELENSD#2
FHLBSLVRLasCrucesSD
FHLBARTAGNMAII
CUSIP/Security
Number
418839BZ8
077581NQ5
517534PX5
36225E2K7
MaturityDate
8/1/2015
8/1/2017
8/1/2019
7/20/2040
FairValue
June30,2015
$ 100,323
62,596
106,367
427,750
$ 697,036
PledgedCollateralHeldbyPledgingFinancialInstituion: 697,036
BalanceOverCollateralized: $ 449,522
Vol. III - 223
STATEOFNEWMEXICO
June30,2015
BankAccountType
FirstAmericanBank
CheckingAgency
$ 742,228
2,800
TotalonDeposit
745,028
ReconcilingItems
(123,893)
621,135
LessAgencyFunds
(18,166)
TotalCash
$ 602,969
Vol. III - 224
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Fund
Instructional
Materials
Fund
Federal
Flowthrough
Fund
11000
14000
24000
$ 558,314
6,281
1,617,183
10,388
61,693
2,175,497
16,669
61,693
(1,599,650)
130,698
(86,795)
(5,211)
69,839

39,706
CashJune30,2015
619,750
11,458
171,238
Auditreclassificationtocash
CashPerBooks
(130,747)
489,003
11,458
(171,238)

(27,910)
$ 461,093
11,458
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. III - 225
State
Flowthrough
Fund
StateDirect
Fund
Local/State
Fund
PublicSchool
CapitalOutlay
SB9Capital
Improvements
27000
28000
29000
31200
31700
Total
Government
1,005
37,078
31,008
633,686
2,950
128,396
20,000
30,338
55,626
1,926,574
2,950
129,401
57,078
30,338
86,634
2,560,260
563
114,472
476
20,720
(26,888)
313

(103,223)

25,806
(15,721)
(1,566,382)
131,487
3,513
265,069
30,503
(47,079)
70,913
1,125,365
(3,513)
(263,796)
1,273
(181)
30,322
47,079

70,913
(522,396)
602,969
(1,273)
(132)
30,190
2,829
73,742
(26,486)
576,483
Vol. III - 226
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
$ 120,753
13,332
134,085
156,496
(145,570)
10,926
TotalAssets
145,011
216,383
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
NetPensionLiability
17,092
47,869
64,961
2,330,211
2,330,211
TotalLiabilities
2,395,172
246,562
NETPOSITION
Restricted
TotalNetPosition
10,926
12,242
(2,303,508)
$ (2,280,340)
Vol. III - 227
STATEOFNEWMEXICO
ProgramRevenues
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
Expenses
Chargesfor
Service
$1,283,014
2,003
137,456
(1,143,555)
SupportServices:
Students
42,875
17,237
260,842
(42,875)
(17,237)
(260,842)
128,805
204,669
75,187
21,383
(128,805)
(204,669)
(53,804)
141,856
$2,154,485
23,386
137,456
141,856
141,856
(1,851,787)
CentralServices
FoodServices
Services
GeneralRevenues:
$1,919,879
1,919,879
ChangeinNetPosition
68,092
Restatement
(13,957)
(2,334,475)
(2,348,432)
NetPositionEnding
$(2,280,340)
Vol. III - 228
STATEOFNEWMEXICO
June30,2015
Operational
11000
Instructional
Materials
14000
Food
Services
21000
$106,815
1,017
5,181

20,189
2,828
4,343
5,161
$127,004
3,845
14,685
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
$17,092
47,869
5,161
70,122

14,028
14,028
FundBalances
FundBalance:
Restrictedfor:
Instruction
Unassigned
TotalFundBalance

56,882
56,882
3,845
3,845

657

657
$127,004
3,845
14,685
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
TotalAssets
Theaccompanyingnotesareanintegralpartifthesefinancialstatements
Vol. III - 229
TitleI
IASA
24101
IDEAB
Entitlement
24106
Spaceport
Grant
26204
PublicSchool
CapitalOutlay
31200
Total
7,740
120,753
5,053
3,936
13,332
28,178
5,053
3,936
7,740
162,263
5,053
5,053
3,936
3,936
17,092
47,869
28,178
93,139
7,740

7,740
11,585
657
56,882
69,124
5,053
3,936
7,740
162,263
Vol. III - 230
STATEOFNEWMEXICO
June30,2015
$ 69,124
CapitalAssets
156,496
(145,570)
10,926
funds.
NetPensionLiability
216,383
(2,330,211)
(2,330,211)
inthefunds.
(246,562)
$ (2,280,340)
Vol. III - 231
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,AndChangesInFundBalances
GovernmentalFunds
REVENUES
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
$
1,919,879

2,003
1,921,882
14,158
14,158

46,953
21,383
68,336
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
CapitalOutlay
TotalExpenditures
1,218,623
11,330
3,784
17,237
256,810
126,618
203,608
10,128

1,836,808
11,330

64,876

64,876
85,074
2,828
3,460
85,074
2,828
3,460
(28,192)
1,017
(2,803)
$ 56,882
3,845
657
Vol. III - 232
TitleI
IASA
24101
IDEAB
Entitlement
24106
Spaceport
Grant
26204
PublicSchool
CapitalOutlay
31200
Total
Government
28,894
28,894
39,091
39,091
8,360

8,360
141,856
141,856
8,360
2,075,893
114,938
23,386
2,222,577
28,894
620
1,259,467
28,894
39,091
39,091

620
141,856
141,856
42,875
17,237
256,810
126,618
203,608
75,004
141,856
2,123,475
7,740
99,102
7,740
99,102
(29,978)
7,740
69,124
Vol. III - 233
STATEOFNEWMEXICO
$ 99,102
DepreciationExpense
(5,095)
(5,095)
principaloflongtermdebtcomsumesthecurrentfinancialresourcesof
position.
(25,915)
$68,092
Vol. III - 234
STATEOFNEWMEXICO
June30,2015
Agency
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$ 447
$447
$ 447
$447
Vol. III - 235
STATEOFNEWMEXICO
Balance
July1,2014
ASSETS
CashinBank
Additions
Deductions
Balance
June30,2015
$ 4,337
9,609
(13,499)
447
TotalAssets
$4,337
9,609
(13,499)
447
LIABILITIES
$ 4,337
9,609
(13,499)
447
$4,337
9,609
(13,499)
447
TotalLiabilities
Vol. III - 236
STATEOFNEWMEXICO
AlmadArteCharterHighSchool
June30,2015

as incurred. The Alma d Arte Charter High Schools capitalization policy (i.e., the dollar value
abovewhichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.TheAlmad
ArteCharterHighSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
withnosalvagevalue.TheAlmadArteCharterHighSchoolutilizesInternalRevenueService
5years
40years
Capital assets for the Alma d Arte Charter School are recorded in the Statement of Net
Position.
Pensions. For the purposes of measuring the net pension liability, deferred outflows of
resources and deferred inflows of resources related to pensions, and pension expenses,
informationabouttheFiduciaryNetPositionoftheNewMexicoEducationalRetirementBoard
(ERB)andadditionsto/deductionsfromERBsFiduciaryNetPositionhavebeendeterminedon
theeconomicresourcesmeasurementfocusandaccrualbasisofaccounting.Forthispurpose,
NOTE2.CAPITALASSETS

follows:
Total
Total
CapitalAssets,Net
Balance
June30,2014
Additions
156,496
156,496
(140,475)
(140,475)
16,021
(5,095)
(5,095)
(5,095)
Balance
Deletions June30,2015
156,496
156,496
(145,570)
(145,570)
10,926
Vol. III - 237
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS(CONTINUED)
functions:
Instruction
5,095

NOTE3.COMMITEMENTSANDCONTINGENCIES
TheAlmadArteCharterHighSchoolleasedfacilitiesunderalongtermcancelableoperating
lease.RentalexpensesfortheyearendedJune30,2015were$141,856.
ThefollowingisascheduleofoperatingleasepaymentsasofJune30,2015:
YearEndingJune30:
2016
2017
2018
2019
2020
20212025
20262030
20312033
141,856
141,856
141,856
141,856
141,856
709,280
709,280
567,424
Totaloperatingleasepayments
2,695,264

NOTE4.RELATEDPARTIES
TheBusinessManagerofthisschoolisalsotheBusinessManagerofJ.PaulTaylorAcademy.

the Alma d Arte Charter High School and does not include general disclosure information
Department.
Vol. III - 238
STATEOFNEWMEXICO
June30,2015
Contributions. The contribution requirements of defined benefit plan members and Alma d
Arte Charter High School are established in state statute under Chapter 10, Article 11, NMSA
June 30, 2014 employers contributed 13.15% of employees gross annual salary to the Plan.
oftheirgrossannualsalary.ContributionstothepensionplanfromAlmadArteCharterHigh
Schoolwere$156,289fortheyearendedJune30,2015.
InflowsofResourcesrelatedtoPensions:ThetotalERBpensionliability,netpensionliability,
yearendingJune30,2014,usinggenerallyacceptedactuarialprinciples.Therefore,the2015,
AlmadArteCharterHighSchoolreportedaliabilityof$2,330,211foritsproportionateshareof
the net pension liability. Alma d Arte Charter High Schools proportion of the net pension
liability is based on the employer contributing entitys percentage of total employer
by Section 221121, NMSA 1978. At June 30, 2014, Alma d Arte Charter High Schools
proportionwas0.04084%whichwasa0.00129%increasefromitsproportionmeasuredasof
June30,2013.
Vol. III - 239
STATEOFNEWMEXICO
June30,2015
For the year ended June 30, 2015, Alma d Arte Charter High School recognized pension
expenseof$182,204.AttheJune30,2015,AlmadArteCharterHighSchoolreporteddeferred
outflowsofresourcesanddeferredinflowsorresourcesrelatedtopensionsfromthefollowing
sources:
Deferred
Outflowsof
Resources
Deferred
Inflowsof
Resources
34,715

211,847
Changes in proportion and differences between Alma d

Arte Charter High School contributions and proportionate
60,094
AlmadArteCharterHighSchoolcontributionssubsequent
tothemeasurementdate
156,289
$ 216,383
246,562
Total
$156,289reportedasdeferredoutflowsofresourcesrelatedtopensionsresultingfromAlmad
ArteCharterHighSchoolcontributionssubsequenttothemeasurementdateJune30,2014will
YearendedJune30:
2016
2017
2018
2019
Total
$44,144
44,144
45,201
52,979
$186,468
Vol. III - 240
STATEOFNEWMEXICO
June30,2015
Sensitivity of Alma d Arte Charter High Schools proportionate share of the net pension
Current
Discount
1%Decrease
Rate
1%Increase
(6.75%)
(7.75%)
(8.75%)
Alma d Arte Charter High Schools
liability
$3,170,524
2,330,211
1,628,480
Payables to the pension plan. For the year ending June 30, 2015, Alma d Arte Charter High
SchoolsaccruedliabilityduetoERBwas$22,270forpayrollpaidinJuly2015.
NOTE6.RESTATEMENT
Vol. III - 241
Vol. III - 242
$ 1,126
206.98%
66.54%


0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
0.00%
0.00%
2018
0.00%
$ 2,330
2015
0.04%


Liability (Asset)
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

ALMA D' ARTE CHARTER HIGH SCHOOL
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. III - 243
186
Total Amount Amortization

Deferred
Years
Year
2014 $
186
5
2015
5
2016
5
2017
5
2018
5
2019
5
2020
5
2021
5
2022
5
2023
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
44
2016
44
44
2017
44
-
45
2018
45
-
53
2019
53
-
2020
-
2015
148
148

Contributions in Relation to the

STATE OF NEW MEXICO

ALMA D' ARTE CHARTER HIGH SCHOOL
June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
Variance
Positive
OriginalBudget FinalBudget ActualAmount (Negative)
REVENUES
StateGrant
ChargesforServices
TotalRevenues
$ 1,850,164
3,500
1,853,664
1,919,880
3,500
1,923,380
1,919,879
2,003
1,921,882
(1)
(1,497)
(1,498)
1,231,832
1,301,548
1,217,255
84,293

24,323
272,422
142,899
271,647
10,541
1,953,664

24,323
272,422
142,899
271,647
10,541
2,023,380
4,184
17,483
256,505
126,434
202,503
10,105
1,834,469
(4,184)
6,840
15,917
16,465
69,144
436
188,911
(100,000)
(100,000) 87,413
187,413
DesignatedCash
100,000
100,000
100,000
100,000
(100,000)
(100,000)
87,413
87,413
(28,192)
(28,192)
59,221
59,221
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
TotalExpenditures
Excess(Defiency)ofRevenues
$87,413
(2,339)
$85,074
Vol. III - 244
STATEOFNEWMEXICO
BudgetedAmounts
OriginalBudget
FinalBudget ActualAmount
Variance
Positive
(Negative)
$ 9,608
9,608
11,330
11,330
14,158
14,158
2,828
2,828
Expenditures:
Current:
Instruction
TotalExpenditures
9,608
9,608
11,330
11,330
11,330
11,330
2,828
2,828
2,828
2,828
1,017
1,017
3,845
3,845
Revenues:
StateGrant
TotalRevenues
$2,828
$2,828
Vol. III - 245
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
OriginalBudget FinalBudget ActualAmount
Variance
Positive
(Negative)
$35,000
23,000
58,000
35,000
34,000
69,000
42,610
21,383
63,993
7,610
(12,617)
(5,007)
61,662
61,662
72,662
72,662
64,876
64,876
7,786
7,786
(3,662)
(3,662)
(883)
2,779
DesignatedCash
3,662
3,662
3,662
3,662
(3,662)
(3,662)
(883)
(883)
(2,803)
(2,803)
(3,686) (3,686)
Revenues:
FederalGrant
ChargesforServices
TotalRevenues
Expenditures:
Current:
TotalExpenditures
$(883)
4,343
$3,460
Vol. III - 246
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
Variance
Positive
(Negative)
OriginalBudget
$ 23,841
23,841
28,894
28,894
23,575
23,575
(5,319)
(5,319)
Expenditures:
Current:
Instruction
TotalExpenditures
23,841
23,841
28,894
28,894
28,894
28,894
(5,319) (5,319)
(5,319) (5,319)
(5,319) (5,319)
Revenues:
FederalGrant
TotalRevenues
$(5,319)
5,319
Vol. III - 247
STATEOFNEWMEXICO
EntitlementIDEAB24106
BudgetedAmounts
OriginalBudget
Variance
Positive
(Negative)
$35,155
35,155
39,091
39,091
30,891
30,891
(8,200)
(8,200)
35,155
35,155
39,091
39,091
39,091
39,091
(8,200)
(8,200)
(8,200)
(8,200)
(8,200) (8,200)
Revenues:
FederalGrant
TotalRevenues
Expenditures:
Current:
SupportServices:
Students
TotalExpenditures
$(8,200)
8,200
Vol. III - 248
STATEOFNEWMEXICO
SpaceportGrantDonaAnaCounty26204
BudgetedAmounts
Variance
Positive
(Negative)
OriginalBudget
FinalBudget
ActualAmount
8,360
8,360
8,360
8,360
Expenditures:
Current:
Instruction
TotalExpenditures
8,360
8,360
620
620
7,740
7,740
7,740
7,740
7,740
7,740
7,740
7,740
Revenues:
Local&CountyGrant
TotalRevenues
$7,740
$7,740
Vol. III - 249
STATEOFNEWMEXICO
BudgetedAmounts
OriginalBudget
Variance
Positive
(Negative)
141,856
141,856
141,856
141,856
141,856
141,856
141,856
141,856
Revenues:
StateGrant
TotalRevenues
Expenditures:
CapitalOutlay
TotalExpenditures
Over(Under)Revenues
Vol. III - 250
STATEOFNEWMEXICO
June30,2015
NameofDepository
N/A
SecurityType
N/A
CUSIP/Security
Number
N/A
MaturityDate
N/A
FairValue
June30,2015
$
UninsuredPublicFunds:
CollateralRequirement:
PledgedCollateralHeldbyPledgingFinancialInstitution:
BalanceOverCollateralized: $
Vol. III - 251
STATEOFNEWMEXICO
June30,2015
BankAccountType
CenturyBank
CheckingFoodService
CheckingStudentActivities
$ 115,572
5,181
447
TotalonDeposit
121,200
ReconcilingItems
121,200
LessAgencyFunds
(447)
TotalCash
$ 120,753
Vol. III - 252
STATEOFNEWMEXICO
AlmaD'ArteCharterHighSchool
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
Student
Activity
Fund
11000
14000
21000
23000
$ 25,601
1,017
(2,803)
4,337
1,921,882
14,158
63,993
9,609
1,947,483
15,175
61,190
13,946
(1,834,469)
4,914
(2,124)
(11,330)

(64,876)
(13,499)

CashJune30,2015
115,804
3,845
(3,686)
447
CashPerBooks
(8,989)
106,815
(2,828)
1,017
8,867
5,181

447
(49,933)
$ 56,882
2,828
3,845
(4,524)
657
(447)

Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. III - 253
FederalProjects
Account
LocalGrants
Account
State
FlowThrough
Account
PublicSchool
CapitalOutlay
24000
26000
27000
31200
Total
(11,153)
(3,228)
13,771
63,032
8,360
3,228
141,856
2,226,118
51,879
8,360
141,856
2,239,889
(67,985)
(620)
(141,856)

(2,134,635)
4,914
(2,124)
(16,106)
7,740
108,044
16,106
7,740

13,156
121,200
(447)
$120,753
7,740
(52,076)
69,124
Vol. III - 254
STATE OF NEW MEXICO

June 30, 2015
VOLUME IV


VOLUME IV

Table of Contents ............................................................................................................................... Vol. IV 1

AMY BIEHL CHARTER HIGH SCHOOL

Statement of Net Position .............................................................................................................. Vol. IV 7

Statement of Activities .................................................................................................................... Vol. IV 8

Balance Sheets Governmental Funds ................................................................................... Vol. IV 9

to the Statement of Net Position ............................................................................................... Vol. IV 13

in Fund Balances (Deficit) Governmental Funds ........................................................... Vol. IV 14

Changes in Fund Balances (Deficit) to Statement of Activities ................................... Vol. IV 18

Statement of Fiduciary Assets and Liabilities Agency Funds ...................................... Vol. IV 19

Statement of Changes in Assets and Liabilities Agency Funds ................................... Vol. IV 20

Notes to Financial Statements ..................................................................................................... Vol. IV 21

Schedule of Schools Proportionate Share of Net Pension Liability ............................ Vol. IV 26

Schedule of Schools Contributions ........................................................................................... Vol. IV 27

Schedule of Budgetary Comparisons (Budgetary Basis) .................................................. Vol. IV 28

Schedule of Collateral Pledged by Depository for Public Funds ................................... Vol. IV 43

Schedule of Cash Accounts ............................................................................................................ Vol. IV 44

Cash Reconciliation........................................................................................................................... Vol. IV 45




Vol. IV - 1


ANTHONY CHARTER SCHOOL (CONTINUED)














ASK ACADEMY






Vol. IV - 2


ASK ACADEMY (CONTINUED)





Schedule of Schools Proportionate Share of Net Pension ............................................... Vol. IV 98















Vol. IV - 3


CESAR CHAVEZ COMMUNITY SCHOOL (CONTINUED)





















Vol. IV - 4


CIEN AGUAS INTERNATIONAL SCHOOL (CONTINUED)



CORAL COMMUNITY CHARTER SCHOOL









Schedule of Schools Contributions ........................................................................................... Vol. IX 214





COTTONWOOD CLASSICAL PREPARATORY




Vol. IV - 5


COTTONWOOD CLASSICAL PREPARATORY













Vol. IV - 6
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
RestrictedCash
Receivables
Other
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Land
$1,183,694
12,514
26,701
2,313
1,225,222
33,950
4,019,328
189,513
(1,200,899)
3,041,892
TotalAssets
4,267,114
270,306
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
5,944
1,091
7,035
NetPensionLiability
3,791,949
3,791,949
TotalLiabilities
3,798,984
414,672
NETPOSITION
Restricted
3,041,892
513,420
(3,231,548)
TotalNetPosition
$323,764
Vol. IV - 7
STATEOFNEWMEXICO
ProgramRevenues
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
Expenses
Chargesfor
Service
Operating
Grantsand
Contributions
$1,620,689
19,732
313,119
(1,287,838)
SupportServices:
Students
Instruction
587,494
74,026
166,430
245,396
(587,494)
(74,026)
(166,430)
(245,396)
165,194
244,627
192,237
6,000
50,339
6,330
32,802
(165,194)
(244,627)
(192,237)
(6,000)
(11,207)
211,010
11,613
(199,397)
$3,563,442
26,062
345,921
11,613
(3,179,846)
CentralServices
FoodServices
Services
GeneralRevenues:
PropertyTaxes
Miscellaneous
$267,606
2,790,826
123,813
3,182,245
ChangeinNetPosition
2,399
NetPosition,BeginningofYear
Restatement
4,269,673
(3,948,308)
321,365
Netposition,Ending
$323,764
Vol. IV - 8
STATEOFNEWMEXICO
June30,2015
Operational
11000
Instructional
Materials
14000
Food
Services
21000
$586,007

8,495

19
700
19,336
350
605
5,651

$606,393
8,495
624
5,651
$ 2,075

2,075
605
605

5,651
5,651
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
TotalFundBalance

604,318
604,318
8,495

8,495
19
19
$606,393
8,495
624
5,651
ASSETS
RestrictedCash
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Other
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
TitleI
IASA
24101
Vol. IV - 9
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
1,193
TitleISchool
Improvement
24162
AmyBiehl
HighSchool
Foundation
26187
DualCredit
Instructional
Materials
27103
2,034

1,193
2,034
1,193
1,193

2,034
2,034
1,193
2,034
IDEAB
Entitlement
24106
Vol. IV - 10
STATEOFNEWMEXICO
June30,2015
Beginning
Teacher
Mentoring
27154
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
$ 5,494

448,245

10,458
4,172

$5,494
10,458
452,417
10,458
10,458
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
TotalFundBalance
5,494

5,494

452,417

452,417
$5,494
10,458
452,417
ASSETS
RestrictedCash
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Other
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
HB33Capital
Improvements
31600
Vol. IV - 11
SB9Capital
Improvements
31700
Foundation
Total
45,107
90,327
12,514
1,183,694
12,514
1,888

1,963
26,701
19,336
2,313
46,995
104,804
1,244,558
3,264
1,091

4,355
5,944
1,091
19,336
26,371
46,995
46,995

100,449
100,449
13,989
19
499,412
704,767
1,218,187
46,995
104,804
1,244,558
Vol. IV - 12
STATEOFNEWMEXICO
June30,2015
$1,218,187
CapitalAssets
4,242,791
(1,200,899)
3,041,892
funds.
270,306
NetPensionLiability
(3,791,949)
inthefunds.
(414,672)
$323,764
Vol. IV - 13
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$
3,276
2,790,826

19,732

2,813,834

131
21,344

21,475
605
32,197
6,330
39,132

67,155

67,155
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
1,397,936
20,391
67,155
511,555
74,266
164,392
243,489
165,793
244,868
6,000

10,868

2,819,167

20,391
39,113
39,113

67,155
(5,333)
1,084
19
(5,333)
1,084
19
609,651
7,411
$604,318
8,495
19
Vol. IV - 14
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
TitleISchool
Improvement
24162
AmyBiehl
HighSchool
Foundation
26187
DualCredit
Instructional
Materials
27103
54,148
54,148
76,776
76,776

5,186

5,186

9,000

9,000

72,000

72,000
4,103
4,103
49,274
33,177
2,025
9,000
44,344
4,103
4,874
54,148
43,599
76,776
2,686

475

5,186

9,000
27,298

2,512

358

74,512
4,103
(2,512)
(2,512)
2,512
Vol. IV - 15
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesInFundBalancesContinued
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Beginning
Teacher
Mentoring
27154
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
HB33Capital
Improvements
31600

1,155

1,155
10,458
10,458
179,798

179,798
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures

1,155
1,155
10,458
10,458

1,776

51,818
53,594
126,204
126,204
5,494
326,213
$5,494
452,417
Vol. IV - 16
SB9Capital
Improvements
31700
Foundation
Total
87,808
87,808
123,813
123,813
267,606
76,012
2,827,886
244,462
26,062
123,813
3,565,841
1,627,405
861
84,457
85,318
192,237
192,237
590,012
74,266
167,029
246,476
165,793
244,868
6,000
192,237
50,339
147,888
3,512,313
2,490
(68,424)
53,528
2,490
(68,424)
53,528
44,505
168,873
1,164,659
46,995
100,449
1,218,187
Vol. IV - 17
STATEOFNEWMEXICO
$53,528
CapitalOutlays
DepreciationExpense
59,123
(122,245)
(63,122)
position.
11,993
$2,399
Vol. IV - 18
STATEOFNEWMEXICO
June30,2015
Agency
ASSETS
CashinBank
$11,802
TotalAssets
LIABILITIES
TotalLiabilities
$11,802
$11,802
$11,802
Vol. IV - 19
STATEOFNEWMEXICO
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$10,685
10,312
(9,195)
11,802
$10,685
10,312
(9,195)
11,802
$10,685
10,312
(9,195)
11,802
$10,685
10,312
(9,195)
11,802
Vol. IV - 20
STATEOFNEWMEXICO
June30,2015

as incurred. The Amy Biehl Charter High Schools capitalization policy (i.e., the dollar value
abovewhichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.TheAmyBiehl
CharterHighSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. The Amy Biehl Charter High School utilizes Internal Revenue Service
5years
40years
Capital assets for the Amy Biehl Charter High School are recorded in the Statement of Net
Position.
Vol. IV - 21
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
LandandImprovements
Total
Total
CapitalAssets,Net
Balance
Balance
Deletions
June30,2015
$
171,202
18,311
189,513
33,950
33,950
3,978,516 40,812
4,019,328
4,183,668 59,123
4,242,791
(129,871)
(20,613)
(150,484)
(4,782)
(871)
(5,653)
(944,001) (100,761)
(1,044,762)
(1,078,654) (122,245)
(1,200,899)
$
3,105,014 (63,122)
3,041,892
functions:
Facilities,Materials,Supplies&OtherServices
Total
$
$
122,245
122,245
TheAmyBiehlCharterHighSchoolleasedequipmentandfacilitiesunderlongtermcancelable
operatingleases.RentalexpensefortheyearendedJune30,2015was$13,196.TheAmyBiehl
CharterHighSchoolsminimumfuturepaymentsonthisleaseareasfollows:
YearEndingJune30:
2016
2017
2018
Total
239,075
12,372
8,248
259,695
Vol. IV - 22
STATEOFNEWMEXICO
June30,2015
NOTE4.BUDGETARYOVERAGES
AmyBiehlCharterHighSchoolhasexpendedinexcessofthebudgetinthefollowingfundand
function:
Fund26187AmyBiehlHighSchoolFoundation
SupportServices
$98
The Amy Biehl Charter High School created a Foundation to purchase a school building. The
Foundation is considered a component unit of the Amy Biehl Charter High School and is
presentedasablendedcomponentunit.
the Amy Biehl Charter High School and does not include general disclosure information
Department.
Contributions.ThecontributionrequirementsofdefinedbenefitplanmembersandAmyBiehl
CharterHighSchoolareestablishedinstatestatuteunderChapter10,Article11,NMSA1978.
Therequirementsmaybeamendedbyactsofthelegislature.ForthefiscalyearendedJune30,
2014employerscontributed13.15%ifemployeesgrossannualsalarytothePlan.Employees
earning $20,000 or less contributed 7.90% and employees earning more than $20,000
contributed10.10%oftheirgrossannualsalary.ForfiscalyearendedJune30,2015employers
contributed13.90%,andemployeesearning$20,000orlesscontinuedtocontribute7.90%and
employees earning more than $20,000 contributed an increased amount of 10.70% of their
grossannualsalary.ContributionstothepensionplanfromAmyBiehlCharterHighSchoolwere
Vol. IV - 23
STATEOFNEWMEXICO
June30,2015
2015, Amy Biehl Charter High School reported a liability of $3,791,949 for its proportionate
shareofthenetpensionliability.AmyBiehlCharterHighSchoolsproportionofthenetpension
liability is based on the employer contributing entitys percentage of total employer
bySection221121,NMSA1978.AtJune30,2014,AmyBiehlCharterHighSchoolsproportion
was0.06645%percent,whichwasadecreaseof0.00029%fromitsproportionmeasuredasof
June30,2013.
FortheyearendedJune30,2015,AmyBiehlCharterHighSchoolrecognizedpensionexpense
of$258,313.AttheJune30,2015,AmyBiehlCharterHighSchoolreporteddeferredoutflowsof
Deferred
Outflowsof
Resources
$

Deferred
Inflowsof
Resources
56,481

344,672

ChangesinproportionanddifferencesbetweenAmy
BiehlCharterHighSchoolcontributionsand

13,519

AmyBiehlCharterHighSchoolcontributionssubsequent
tothemeasurementdate
270,306

Total
$270,306
414,672
$270,306 reported as deferred outflows of resources related to pensions resulting from Amy
BiehlCharterHighSchoolcontributionssubsequenttothemeasurementdateJune30,2014
Vol. IV - 24
STATEOFNEWMEXICO
June30,2015
willberecognizedasareductionofthenetpensionliabilityintheyearendedJune30,2016.
Otheramountsreportedasdeferredoutflows ofresourcesanddeferredinflowsofresources
relatedtopensionswillberecognizedinpensionexpenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$110,470
110,470
107,554
86,178
$414,672
SensitivityofAmyBiehlCharterHighSchoolsproportionateshareofthenetpensionliability
to changes in the discount rate. The following table shows the sensitivity of the net pension
1%Decrease
(6.75%)
Amy Biehl Charter High Schools

liability
$5,158,706
Current
Discount
Rate
(7.75%)
3,791,949
1%Increase
(8.75%)
2,649,509
NOTE7.RESTATEMENT
Vol. IV - 25
Vol. IV - 26
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

1,832
207.02%
3,792
2015
0.07%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%


June 30, 2015
STATE OF NEW MEXICO

0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 27
415
Total Amount
Deferred
Year
2014 $
415
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
110
2016
110
110
2017
110
-
108
2018
108
-
87
2019
87
-
2020
-
2015
241
241



June 30, 2015
STATE OF NEW MEXICO

2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
REVENUES
Local&CountyGrant
StateGrant
ChargesforServices
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 16,483
2,801,502
18,950
2,836,935
18,672
2,797,009
18,950
2,834,631
6,924
2,797,009
19,732
2,823,665
(11,748)

782
(10,966)
1,630,640
1,627,836
1,398,519
229,317
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
652,349
85,272
191,768
293,645
203,884
340,598
7,400
23,575
3,429,131
652,849
85,272
191,768
293,645
203,884
340,598
7,400
23,575
3,426,827
511,555
74,266
163,646
243,489
165,495
246,901
6,000
10,345
2,820,216
141,294
11,006
28,122
50,156
38,389
93,697
1,400
13,230
606,611
(592,196)
(592,196)
3,449
595,645
(592,196)
(592,196)
3,449
595,645
609,651
609,651
609,651
$17,455
17,455
613,100
595,645
$3,449
(556)
(8,226)
$(5,333)
Vol. IV - 28
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
15,367
15,367

21,344
21,344
131
21,344
21,475
131

131
EXPENDITURES
Current:
Instruction
TotalExpenditures
15,367
15,367
21,344
21,344
20,391
20,391
953
953
1,084
1,084
1,084
1,084
7,411
7,411
7,411
$7,411
7,411
8,495
1,084
REVENUES
Local&CountyGrant
StateGrant
TotalRevenues
$1,084
$1,084
Vol. IV - 29
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 28,350
6,650
35,000
38,350
6,650
45,000
32,197
6,330
38,527
(6,153)
(320)
(6,473)
EXPENDITURES
Current:
TotalExpenditures
35,000
35,000
45,000
45,000
38,508
38,508
6,492
6,492
19
19
19
19
19
19
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
$19
$19
Vol. IV - 30
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 66,339
66,339
76,802
76,802
68,333
68,333
(8,469)
(8,469)
EXPENDITURES
Current:
Instruction
TotalExpenditures
66,339
66,339
76,802
76,802
67,155
67,155
9,647
9,647
1,178
1,178
1,178
1,178
1,178
1,178
$1,178
(1,178)
$
Vol. IV - 31
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 48,691
48,691
54,148
54,148
66,502
66,502
12,354
12,354
48,691
49,274
49,274
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures

48,691
4,874
54,148
4,874
54,148
12,354
12,354
12,354
12,354
12,354
12,354
$12,354
(12,354)
$
Vol. IV - 32
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
76,776
76,776
76,776
76,776
33,177
33,177
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
43,599
76,776
43,599
76,776
Vol. IV - 33
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 10,326
10,326
13,592
13,592
6,187
6,187
(7,405)
(7,405)
7,800
7,800
2,025
5,775
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Totalexpenditures
1,000
1,526
10,326
4,266
1,526
13,592
2,686
475
5,186
1,580
1,051
8,406
1,001
1,001
1,001
1,001
1,001
1,001
$1,001
(1,001)
$
Vol. IV - 34
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 10,000
10,000
10,000
10,000
9,000
9,000
(1,000)
(1,000)
10,000
9,000
1,000
EXPENDITURES
Current:
Instruction
SupportServices:
TotalExpenditures
10,000
10,000

10,000
9,000

1,000
Vol. IV - 35
STATEOFNEWMEXICO
AmyBiehlHighSchoolFoundation26187
BudgetedAmounts
REVENUES
Local&CountyGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 72,000
72,000
72,000
72,000
72,000
72,000
42,500
44,344
44,344
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
TotalExpenditures
27,498
1,989
425
2,000
74,412
27,298

2,414
358
74,414
27,298
2,512
358
74,512

(98)

(98)
(2,412)
(2,414)
(2,512)
(98)
(2,412)
(2,414)
(2,512)
(98)
2,512
2,512
2,512
$100
98
(98)
$(2,512)
$(2,512)
Vol. IV - 36
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
4,103
4,103
7,566
7,566
3,463
3,463
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
4,103
4,103
4,103
4,103
3,463
3,463
3,463
3,463
3,463
3,463
$3,463
(3,463)
$
Vol. IV - 37
STATEOFNEWMEXICO
BeginningTeacherMentoring27154
BudgetedAmounts
Original
Budget
REVENUES
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
5,494
5,494
5,494
$5,494
5,494
5,494
EXPENDITURES
TotalExpenditures
Vol. IV - 38
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
1,155
1,155
1,155
1,155
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
1,155
1,155
1,155
1,155
REVENUES
StateGrant
TotalRevenues
Vol. IV - 39
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 43,750
43,750
43,750
43,750
(43,750)
(43,750)
EXPENDITURES
CapitalOutlay
TotalExpenditures
43,750
43,750
43,750
43,750
10,458
10,458
33,292
33,292
(10,458)
(10,458)
(10,458)
(10,458)
(10,458)
(10,458)
$(10,458)
10,458
$
Vol. IV - 40
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
PropertyTaxes
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 176,900
176,900
176,900
176,900
179,368
179,368
2,468
2,468
EXPENDITURES
Current:
SupportServices:
CapitalOutlay
TotalExpenditures
1,772
502,129
503,901
1,772
502,129
503,901
1,772
66,139
67,911

435,990
435,990
(327,001)
(327,001)
111,457
438,458
(327,001)
(327,001)
111,457
438,458
336,788
336,788
336,788
$9,787
9,787
448,245
438,458
$111,457
430
14,317
$126,204
Vol. IV - 41
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 88,543
5,208
93,751
88,543
12,178
100,721
87,534
1,820
89,354
(1,009)
(10,358)
(11,367)
EXPENDITURES
Current:
SupportServices:
CapitalOutlay
TotalExpenditures
886
140,753
141,639
886
147,723
148,609
858
84,987
85,845
28
62,736
62,764
(47,888)
(47,888)
3,509
51,397
(47,888)
(47,888)
3,509
51,397
44,505
44,505
44,505
$(3,383)
(3,383)
48,014
51,397
$3,509
(1,549)
530
$2,490
Vol. IV - 42
STATEOFNEWMEXICO
June30,2015
NameofDepository
USBank
USBank
USBank
USBank
SecurityType
FHLMCFGLMC
FHLMCGOLDPOOL
FHLMCGOLDPOOL
FHLMCGOLDREMIC
CUSIP/Security
Number
31283HWP6
312967V74
31294KQ65
3137B2SK7
MaturityDate
7/1/2042
11/1/2041
5/1/2018
6/15/2043
FairValue
June30,2015
$ 90,876
414,131
99,856
238,630
$843,493
TotalCashperScheduleofCashAccounts: $1,286,249
UninsuredPublicFunds: 1,036,249
Vol. IV - 43
STATEOFNEWMEXICO
June30,2015
USBank
NewMexico
Bank&Trust
Total
$ 957,925

14,855
25,868
11,768
28,309
25,110
222,414
957,925
222,414
14,855
25,868
11,768
28,309
25,110
1,063,835
222,414
1,286,249
ReconcilingItems
(90,753)
(90,753)
$ 973,082
222,414
1,195,496
BankAccountType
CheckingActivityAccount
CheckingFoundation
MoneyMarketFoundation
MoneyMarketFoundationRestricted
CDFoundation
TotalonDeposit
LessAgencyFunds
(11,802)
TotalCash
$1,183,694
Vol. IV - 44
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
NonInstruct.
Fund
Federal
Projects
Account
11000
14000
21000
23000
24000
$ 602,864
7,411
10,685
(23,411)
2,823,665
21,475
38,527
10,312
226,798
3,426,529
28,886
38,527
20,997
203,387
(2,820,216)
(970)

(20,391)

(38,508)

(9,195)
(212,265)

CashJune30,2015
605,343
8,495
19
11,802
(8,878)
CashPerBooks
(19,336)
586,007

8,495

19
11,802
8,878

18,311
$ 604,318

8,495

19
(11,802)
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 45
LocalGrant
Funds
State
Acccount
PublicSchool
CapitalOutlay
SpecialCapital
OutlayState
HB33Capital
Improvements
SB9Capital
Improvements
26000
27000
31200
31400
31600
31700
Total
2,512
2,031
336,788
41,599
980,479
72,000
7,566
1,155
179,368
89,354
3,470,220
74,512
9,597
1,155
516,156
130,953
4,450,699
(74,512)
(4,103)
(1,155)
(10,458)

(67,911)

(85,846)
(3,344,560)
(970)

5,494
(10,458)
448,245
45,107
1,105,169
10,458

5,494

448,245
45,107
PlusFoundationRestrictedHeldbyACF:

1,105,169
(11,802)
90,327
12,514
$1,196,208
5,494
4,172
452,417
1,888
46,995
Add:Foundation:
12,569
1,117,738
100,449
$1,218,187
Vol. IV - 46
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
$ 341,935
7,436
349,371
724,827
19,873
(56,114)
688,586
TotalAssets
1,037,957
51,476
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
NetPensionLiability
TotalLiabilities
NETPOSITION
Restricted
Unrestricted(Defecit)
TotalNetPosition
16,737
46,653
63,390
821,048
821,048
884,438
202,448
688,586
61,352
(747,391)
$ 2,547
Vol. IV - 47
STATEOFNEWMEXICO
ProgramRevenues
Expenses
Charges
for
Service
Operating
Capital
Grantsand
Grantsand
Contributions Contributions
Net
(Expenses)
Revenues
and
Changesin
NetPosition
$345,152
120
35,372
(309,660)
5,330
2,915
78,618
193,907
(5,330)
(2,915)
(78,618)
(193,907)
CentralServices
88,273
Operation&MaintenanceofPlant 73,601
FoodServices
46,936
Services
73,882

26,293
(88,273)
(73,601)
(20,643)
39,432
(34,450)
120
61,665
39,432
(807,397)
Functions/Programs
Instruction
SupportServices:
Students
Instruction
$908,614
GeneralRevenues:
PropertyTaxes
$ 7,858
751,129
758,987
ChangeinNetPosition
(48,410)
Restatement
1,057,689
(1,006,732)
50,957
NetPosition,Ending
$2,547
Vol. IV - 48
STATEOFNEWMEXICO
June30,2015
Operational
11000
Instructional
Materials
14000
Food
Services
21000
$286,419
8,946

537
286,956

8,946
1,019

1,019
TotalAssets
$286,956
8,946
1,019
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
$16,737
45,590

62,327

499
520
1,019
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned

224,629
8,946

TotalFundBalance
224,629
8,946
$286,956
8,946
1,019
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
TotalAssets
TitleI
IASA
24101
Vol. IV - 49
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Medicaid
321Years
25153
Spaceport
Grant
26204
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
Government
495
160
18,041
12,467
15,407
341,935
69
564
17
17
160
6,192

24,233

12,467
139
15,546
7,436
537
349,908
564
17
160
24,233
12,467
15,546
349,908
564
564
17
17
16,737
46,653
537
63,927
160
24,233

12,467

15,546
33,339
28,013
224,629
160
24,233
12,467
15,546
285,981
564
17
160
24,233
12,467
15,546
349,908
Vol. IV - 50
STATEOFNEWMEXICO
June30,2015
$ 285,981
Capitalassets
744,700
(56,114)
688,586
funds.
51,476
NetPensionLiability
(821,048)
(821,048)
inthefunds.
(202,448)
$ 2,547
Vol. IV - 51
STATEOFNEWMEXICO
StatementOfRevenues,Expenditures,AndChangesInFundBalances(Deficit)
GovernmentalFunds
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$
1,359
751,129

120
752,608

4,980

4,980
26,293
26,293

8,237

8,237
343,360
676
8,237
5,330
2,915
78,618
202,562
88,273
73,484
27,979

822,521

676
19,229
19,229

8,237
(69,913)
4,304
7,064
(69,913)
4,304
7,064
294,542
4,642
(7,064)
$ 224,629
8,946
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
Chargesforservices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
Capitaloutlay
Totalexpenditures
Vol. IV - 52
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
14,157
14,157
17
17
14,157
Medicaid
321Years
25153
Spaceport
Grant
26204
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Total
Government
6,622
6,622

39,432

39,432
7,858
7,858
7,858
7,981
795,541
48,704
120
860,204
17
2,816
369,263
14,157
17
2,816

39,432
39,432
5,330
2,915
78,618
202,562
88,273
73,484
47,208
39,432
907,085
3,806
7,858
(46,881)
3,806
7,858
(46,881)
160
20,427
12,467
7,688
332,862
160
24,233
12,467
15,546
285,981
Vol. IV - 53
STATEOFNEWMEXICO
$ (46,881)
AmountsreportedforgovernmentalactivitiesintheStatementofActivities
aredifferentbecause:
Depreciationexpense
(36,241)
(36,241)
Theissuanceoflongtermdebt(e.g.,bonds,notes,leases)provide
currentfinancialresourcestogovernmentalfunds,whiletherepayment
oftheprincipaloflongtermdebtconsumesthecurrentfinancial
resourcesofthegovernmentalfunds.Neithertransaction,howeverhas
anyeffectonnetposition.
ChangeinPensionLiability
34,712
$ (48,410)
Vol. IV - 54
STATEOFNEWMEXICO
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$ 1,150
$ 1,150
$ 1,150
$ 1,150
Vol. IV - 55
STATEOFNEWMEXICO
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
ASSETS
CashinBank
$ 920
3,447
(3,217) 1,150
Totalassets
$ 920
3,447
(3,217) 1,150
LIABILITIES
$ 920
3,447
(3,217) 1,150
$ 920
3,447
(3,217) 1,150
Totalliabilities
Vol. IV - 56
STATEOFNEWMEXICO
June30,2015
as incurred. The Anthony Charter Schools capitalization policy (i.e., the dollar value above
whichtheassetacquisitionsareaddedtothecapitalaccounts)is$5,000.TheAnthonyCharter
Schooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
withnosalvagevalue.TheAnthonyCharterSchoolutilizesInternalRevenueServiceguidelines
toestimatetheusefullivesoncapitalassetsasfollows:
5years
40years
CapitalassetsfortheAnthonyCharterSchoolarerecordedintheStatementofNetPosition.
Vol. IV - 57
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Balance
Balance
June30,2014 Additions Deletions June30,2015

$
19,873
19,873
724,827
724,827
Total
744,700
744,700
(19,873)
(19,873)
(36,241)
(36,241)
Total
(19,873)
(36,241)
(56,114)
CapitalAssets,Net
$
724,827
(36,241)
688,586
functions:
OperationandMaintenanceofPlant $
1,791
Facilities,Materials,Supplies
34,450
Total
$
36,241
The Anthony Charter School leased land under longterm cancelable operating leases. Rental
expense for the year ended June 30, 2015, was $40,687. The schools minimum future
paymentsonthisleaseareasfollows:
YearEndingJune30:
2016
$
39,432
2017
39,432
2018
39,432
2019
39,432
2020
39,432
Totalleasepayments
$
197,160
Vol. IV - 58
STATEOFNEWMEXICO
June30,2015
The business manager services are performed by an outside manager, which performed
servicesformultiplestatecharterschools.
theAnthonyCharterSchoolanddoesnotincludegeneraldisclosureinformationpertainingto
the New Mexico Educational Employees Retirement Plan. General disclosure information
Contributions. The contribution requirements of defined benefit plan members and Anthony
CharterSchoolareestablishedinstatestatuteunderChapter10,Article11,NMSA1978.The
requirements may be amended by acts of the legislature. For the fiscal year, ended June 30,
2014employerscontributed13.15%ofemployeesgrossannualsalarytothePlan.Employees
contributed10.10%oftheirgrossannualsalary.Forfiscalyear,endedJune30,2015employers
gross annual salary. Contributions to the pension plan from Anthony Charter School were
2015,AnthonyCharterSchoolreportedaliabilityof$821,048foritsproportionateshareofthe
netpensionliability.AnthonyCharterSchoolsproportionofthenetpensionliabilityisbased
ontheemployercontributingentityspercentageoftotalemployercontributionsforthefiscal
yearendedJune30,2014.ThecontributionamountsweredefinedbySection221121,NMSA
1978.AtJune30,2014,AnthonyCharterSchoolsproportionwas0.01439%percent,whichwas
adecreaseof0.00248%fromitsproportionmeasuredasofJune30,2013.
Vol. IV - 59
STATEOFNEWMEXICO
June30,2015
For the year ended June 30, 2015, Anthony Charter School recognized pension expense of
$16,764.AttheJune30,2015,AnthonyCharterSchoolreporteddeferredoutflowsofresources
anddeferredinflowsorresourcesrelatedtopensionsfromthefollowingsources:
Deferred
Outflowsof
Resources
Deferred
Inflowsof
Resources
12,234

74,661
Changes in proportion and differences between Anthony

Charter School contributions and proportionate share of
contributions
115,553
Anthony Charter School contributions subsequent to the

measurementdate
51,476
$ 51,476
202,448
Total
$51,476reportedasdeferredoutflowsofresourcesrelatedtopensionsresultingfromAnthony
Charter School contributions subsequent to the measurement date June 30, 2014 will be
recognized as a reduction of the net pension liability in the year ended June 30, 2016. Other
YearendedJune30:
2016
2017
2018
2019
Total
$63,028
63,028
57,703
18,689
$202,448
Vol. IV - 60
STATEOFNEWMEXICO
June30,2015
Sensitivity of Anthony Charter Schools proportionate share of the net pension liability to
Current
Discount
1%Decrease
Rate
1%Increase
(7.75%)
(8.75%)
(6.75%)
Anthony Charter Schools proportionate
shareofthenetpensionliability
$1,117,131
821,048
573,923
Payables to the pension plan. For the year ending June 30, 2015, Anthony Charter Schools
accruedliabilityduetoERBwas$13,132forpayrollpaidinJuly2015.
NOTE6.GOINGCONCERNCHARTERSTATUS
In December 2014, the NM Public Education Department did not renew Anthony Charter
Schoolscharter.TheCharterSchoolisintheprocessofappealingtheNMPEDsdecision.
NOTE7.RESTATEMENT
As a result of the implementation of GASB Statement No. 68, Accounting and Financial
Reporting for Pension, net position at June 30, 2014 was restated in the amount of
$(1,006,732).
Vol. IV - 61
Vol. IV - 62
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

397
206.80%
821
2015
0.014%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 63
202
Total Amount
Deferred
Year
2014 $
202
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5

STATE OF NEW MEXICO

June 30, 2015
2015
52
52
2016
-
2017
-
2018
-
2019
-
2020
-
2015
2016
63
63
63
2017
63
-
58
2018
58
-
18
2019
18
-
2020
-

2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
REVENUES
Local&CountyGrant
StateGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
DesignatedCash
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
693,032

693,032

751,130

751,130
1,359
751,129
120
752,608
1,359
(1)
120
1,478
432,900
453,523
344,679
108,844
17,300

26,500
169,414
91,214
114,487
21,115
872,930
27,175
6,048
88,303
214,028
105,850
135,082
35,128
1,065,137
5,330
1,813
71,825
203,444
83,634
74,071
28,114
812,910
21,845
4,235
16,478
10,584
22,216
61,011
7,014
252,227
(179,898)
(314,007)
(60,302)
253,705
179,898
179,898

308,239
308,239
(5,768)
(60,302)
(308,239)
(308,239)
(54,534)
294,542
$ 294,542
294,542
288,774
294,542
234,240

(54,534)
$
(9,611)
$(69,913)
Vol. IV - 64
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Actual
Amount
Variance
Positive
(Negative)
$ 3,469
3,469
4,980
4,980
4,980
4,980
EXPENDITURES
Current:
Instruction
TotalExpenditures
3,469
3,469
4,980
4,980
676
676
4,304
4,304
4,304
4,304
4,304
4,304
4,642
8,946
4,642
8,946
$4,304
Vol. IV - 65
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Actual
Amount
Variance
Positive
(Negative)
$ 29,000
29,000
29,000
29,000
26,293
26,293
(2,707)
(2,707)
EXPENDITURES
Current:
TotalExpenditures
29,000
29,000
29,000
29,000
19,229
19,229
9,771
9,771
7,064
7,064
7,064
7,064
(7,064) (7,064)
$7,064
Vol. IV - 66
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
Actual
Amount
Variance
Positive
(Negative)
$ 32,820
32,820
53,007
53,007
21,817
21,817
(31,190)
(31,190)
5,496
25,683
8,237
17,446
27,324
32,820
27,324
53,007
8,237
27,324
44,770
13,580
13,580
13,580
13,580
13,580

13,580
$(13,580)
Vol. IV - 67
STATEOFNEWMEXICO
EntitlementIDEAB24106
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
Actual
Amount
Variance
Positive
(Negative)
$ 14,594
14,594
14,157
14,157
19,141
19,141
4,984
4,984
14,594
14,594
14,157
14,157
14,157
14,157
4,984
4,984
4,984
4,984
4,984

4,984
$(4,984)
Vol. IV - 68
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
Actual
Amount
Variance
Positive
(Negative)
17
17
(17)
(17)
17
17
17
17
(17)
(17)
(17)
(17)
(17)

(17)
$17
Vol. IV - 69
STATEOFNEWMEXICO
SpaceportGrantDonaAnaCounty26204
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
5,918
5,918
5,917
5,917
(1)
(1)
EXPENDITURES
Current:
Instruction
TotalExpenditures
5,918
5,918
2,816
2,816
3,102
3,102
3,101
3,101
3,101
3,101
20,427
23,528
20,427
23,528
REVENUES
Local&CountyGrant
TotalRevenues
Original
Budget
$705
$3,806
Vol. IV - 70
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
39,432
39,432
51,899
51,899
12,467
12,467
Original
Budget
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
39,432
39,432
39,432
39,432
12,467
12,467
12,467
12,467
24,934
12,467
12,467
24,934
$(12,467)
Vol. IV - 71
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$44,706

44,706
44,706

44,706
7,719
16,241
23,960
(36,987)
16,241
(20,746)
44,706
44,706
44,706
44,706
44,706
44,706
23,960
23,960
23,960
23,960
7,688
7,688
31,648
31,648
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
Original
Budget
$(16,102)
$7,858
Vol. IV - 72
STATEOFNEWMEXICO
June30,2015
NameofDepository
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
SecurityType
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
FNMAPT
CUSIP/Security
Number
31418AEB0
3138EKSD8
31418ANY0
3138LY5A1
3138A76W3
3138X0A24
3138EGFS8
3138AVF83
3138LTJQ2
3138WUUS0
MaturityDate
3/1/2032
2/1/2043
1/1/2043
7/1/2042
4/1/2041
7/1/2043
5/1/2041
11/1/2026
5/1/2042
9/1/2043
FairValue
June30,2015
$ 29,520
9,149
4,882
36,899
9,894
34,357
371
930
1,939
4,292
$ 132,233
Vol. IV - 73
STATEOFNEWMEXICO
June30,2015
BankAccountType
WellsFargoBank
$ 349,407
TotalonDeposit
349,407
ReconcilingItems
(6,322)
343,085
LessAgencyFunds
(1,150)
TotalCash
$ 341,935
Vol. IV - 74
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
Federal
Flowthrough
11000
14000
21000
24000
$ 308,239
4,642
(7,064) (19,644)
752,608
4,980
26,293
40,958
1,060,847
9,622
19,229
21,314
(812,910)
33,057
(41)
(676)

(19,229) (22,411)

(18,581)

41
$ 280,953
8,946
(19,637)
5,466
CashPerBooks
286,419

8,946

20,132
495

8,946

(495)

Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
CashJune30,2015
$ (61,790)
$ 224,629
Vol. IV - 75
Federal
Direct
State
Flowthrough
PublicSchool
CapitalOutlay
SB9Capital
Improvements
Total
25000
26000
31200
31700
Government
160
14,940

(8,553)
292,720
5,917
51,899
23,960
906,615
160
20,857
51,899
15,407
1,199,335

(2,816)

(39,432)

(897,474)
14,476
160
18,041
12,467
15,407
316,337

160

18,041

12,467

15,407
25,598
341,935

160
6,192
24,233

12,467
139
15,546
(55,954)
285,981
Vol. IV - 76
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
ASSETS
CurrentAssets:
RestrictedCash
Receivables
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Land
$444,490
5,069,341
96,982
5,610,813
647,989
500,000
15,812
(6,252)
1,157,549
TotalAssets
6,768,362
586,965
LIABILITIES
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
15,286
140,781
156,067
LongTermDebt
NetPensionLiability
6,456,542
2,127,658
8,584,200
TotalLiabilities
8,740,267
225,091
NETPOSITION
Restricted
Unrestricted
(229,652)
108,322
(1,488,701)
TotalNetPosition
$(1,610,031)
Vol. IV - 77
STATEOFNEWMEXICO
TheASKAcademy
ProgramRevenues
Functions/Programs
Instruction
SupportServices:
Students
Instruction
CentralServices
Services
Expenses
$1,457,888
Chargesfor
Service
15,873
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
110,229
(1,331,786)
Operating
Grantsand
Contributions
424,879
23,671
342,224
241,437
127,353
435,273
(424,879)
(23,671)
(342,224)
(241,437)
(127,353)
(435,273)
220,100
214,422
(5,678)
$3,272,825
15,873
110,229
214,422
(2,932,301)
GeneralRevenues:
PropertyTaxes
Miscellaneous
$65,855
2,450,057
89,824
2,605,736
ChangeinNetPosition
(326,565)
Restatement
RestatedNetPositionBeginning
382,842
(1,666,308)
(1,283,466)
Netposition,Ending
$(1,610,031)
Vol. IV - 78
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
Operational
11000
Instructional
Materials
14000
$306,610
22,378
81,019
47
$387,629
22,378
47
$14,908
140,781
378
47
155,689
378
47
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
231,940
22,000
TotalFundBalance
231,940
22,000
$387,629
22,378
47
ASSETS
RestrictedCash
AccountsReceivable
DuefromGovernments
DuefromOtherFunds
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
IDEAB
Entitlement
24106
IDEAB
"RiskPool"
Fund
24120
Vol. IV - 79
Charter
Schools
24146
Teacher
Principal
Training
24154
CNM
Foundation
26207
Credit
Instructional
Materials
27103
Robotics
2013
27116
STEM
Teacher
Initiative
27181
2,834
1,256
13,456
2,834
1,256
13,456
13,456
13,456
2,834
1,256
2,834
1,256
2,834
1,256
13,456
Vol. IV - 80
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
Foundation
UNMSub
Award
28102
ASSETS
RestrictedCash
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
ASBMB
Grant
29102
PublicSchool
CapitalOutlay
31200
Special
CapitalOutlay
State
31400
1,377
6,541
40,975
20,000
$6,541
1,377
40,975
20,000
6,541
40,975
20,000
6,541
40,975
20,000
FundBalances
FundBalance:
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
1,377
TotalFundBalance
1,377
$6,541
1,377
40,975
20,000
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
Vol. IV - 81
SB9Capital
Improvements
31700
Foundation
Total
64,892
45,143
5,069,341
444,490
5,069,341
15,963
96,982
81,019
80,855
5,114,484
5,691,832
15,286
140,781
81,019
237,086
80,855
5,114,484
27,467
80,855
5,346,424
80,855
5,114,484
5,454,746
80,855
5,114,484
5,691,832
Vol. IV - 82
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
$5,454,746
CapitalAssets
1,163,801
(6,252)
1,157,549
financialresourcesand,therefore,arenotreported
inthefunds
LongTermDebt
NetPensionLiability
586,965
(6,456,542)
(2,127,658)
(8,584,200)
Definedbenefitpensionplandeferredinflowsarenot
dueandpayableinthecurrentperiodand,therefore,
arenotreportedinthefunds
(225,091)
$(1,610,031)
Vol. IV - 83
STATEOFNEWMEXICO
TheASKAcademy
GovernmentalFunds
Operational
11000
Instructional
Materials
14000
IDEAB
Entitlement
24106
IDEAB
"RiskPool"
Fund
24120
$
2,450,057

15,873
5,859
2,471,789

20,419

20,419
40,631
40,631

47

47
1,295,912
9,399
40,631
47
396,912
23,671
78,359
224,517
127,353
433,443

2,580,167

9,399
40,631

47
(108,378)
11,020
Netproceedsfrombondissues
TotalOtherFinancingSources(uses)
(108,378)
11,020
340,318
10,980
$231,940
22,000
REVENUES
PropertyTaxes
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
Vol. IV - 84
Charter
Schools
24146
Teacher
Principal
Training
24154
CNM
Foundation
26207
Credit
Instructional
Materials
27103
Robotics
2013
27116
STEM
Teacher
Initiative
27181

1,500
1,500

824

824

9,332

9,332
29,100
29,100
1,495
824
7,072
29,100

1,495

824

7,072
29,100
2,260
2,260
2,834
1,251
(2,260)
2,834
1,256
Vol. IV - 85
STATEOFNEWMEXICO
TheASKAcademy
GovernmentalFunds
Foundation
UNMSub
Award
28102
REVENUES
PropertyTaxes
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
ASBMB
Grant
29102
PublicSchool
CapitalOutlay
31200
Special
CapitalOutlay
State
31400
$
9,876

9,876
194,422
194,422

20,000

20,000
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
3,139

3,402

6,541
163,899
163,899

20,000
20,000
3,335
30,523
Netproceedsfrombondissues
TotalOtherFinancingSources(uses)
3,335
30,523
(3,335)
1,377
(30,523)
1,377
Vol. IV - 86
SB9Capital
Improvements
31700
Foundation
Total
65,855
65,855
82,465
82,465
65,855
2,734,030
40,678
15,873
89,824
2,946,260
1,387,619
45,596
45,596
12,669
263,865
1,147,989
1,424,523
409,581
23,671
342,224
227,919
127,353
433,443
1,377,484
4,329,294
20,259
(1,342,058)
(1,383,034)
6,456,542
6,456,542
6,456,542
6,456,542
20,259
5,114,484
5,073,508
60,596
381,238
80,855
5,114,484
5,454,746
Vol. IV - 87
STATEOFNEWMEXICO
TheASKAcademy
$5,073,508
(99,476)
Expenditurestopurchaseorbuildcapitalassets,payforinterestondebt,and
amortizationonlongtermassetsarereportedingovernmentalfundsas
expenditures.However,forgovernmentalactivitiesthosecostsareshownin
theStatementofNetPositionandallocatedovertheirestimatedusefullives
asannualdepreciationexpensesintheStatementofActivities.Thisisthe
amountbywhichcapitaloutlayexceedsdepreciationfortheperiod
CapitalOutlays
DepreciationExpense
1,157,385
(1,440)
1,155,945
position.
Netproceedsfromissuanceofbonds
(6,456,542)
$(326,565)
Vol. IV - 88
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$6,942
$6,942
$6,942
$6,942
Vol. IV - 89
STATEOFNEWMEXICO
TheASKAcademy
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$21,532
11,775
(26,365)
6,942
$21,532
11,775
(26,365)
6,942
$21,532
11,775
(26,365)
6,942
$21,532
11,775
(26,365)
6,942
Vol. IV - 90
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
asincurred.TheASKAcademyscapitalizationpolicy(i.e.,thedollarvalueabovewhichtheasset
acquisitions are added to the capital accounts) is $5,000. The ASK Academy (ASK) does not
capitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. ASK utilizesInternal Revenue Service guidelines to estimate the useful
livesoncapitalassetsasfollows:
510years
15years
540years
CapitalassetsforASKarerecordedintheStatementofNetPosition.
NOTE2.RECEIVABLES
DuefromOtherGovernments:
IDEABRiskPoolFund
$
47
STEMTeacherInitiative
13,456
6,541
FoundationUNMSubAwardGrant
40,975
SpecialCapitalOutlayState
20,000
15,963
TotalDuefromOtherGovernments
$
96,982
Vol. IV - 91
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
NOTE3.CAPITALASSETS
follows:
Balance
Balance
Deletions
June30,2015
Depreciated:
Land
$
647,989

647,989
500,000

500,000
Total
1,147,989

1,147,989
6,416
9,396

15,812
Total
6,416
9,396

15,812
(4,812)
(1,440)

(6,252)
Total
(4,812)
(1,440)

(6,252)
CapitalAssets,Net
$
1,604 1,155,945

1,157,549
functions:
$
1,440
Total
$
1,440
ASK leased buildings and equipment under shortterm cancelable operating leases. Rental
expensefortheyearendedJune30,2015was$399,448.ASKsminimumfuturepaymentson
theseleasesareasfollows:
YearEndingJune30:
2016
257,553
$
257,553
Vol. IV - 92
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
NOTE4.COMMITMENTSANDLIABILITIES(Continued)
DuringtheyearendedJune30,2015,thefollowingchangesoccurredintheliabilitiesreported
inthegovernmentwidefinancialstatementofnetposition:
Balance
Balance
DueWithin
06302014 Additions Deletions 063015 OneYear

BondsPayable $
6,700,000
6,700,000
Discount
(243,458)
(243,458)
$
6,456,542
6,456,542
RevenueBondsaresecuredbypledgesofcertainrevenuesandassets.OnFebruary12,2015,
TheASKAcademy,pursuanttoaleasepurchaseagreementwithTheASKAcademyFoundation,
Inc. and indenture of trust, issued its Educational Facility Revenue Bonds Series 2015 in the
aggregateprincipalamountof $6,360,000and$340,000 TaxableEducationalFacilityRevenue
BondsSeries2015.Bondproceedswereusedtopurchaselandandconstructacharterschool
facilitythatwillhouseclassroomsfromsevenththroughtwelfthgrade.ASKpledges,transfers,
andgrantsasecurityinterestinandassignstoWellsFargoBank,N.A.tosecurethepaymentof
lease payments in accordance with the terms and provisions of the lease, all funds, monies,
grants,orotherdistributionsreceivedbytheSchoolfromtheStateofNewMexicowithrespect
toEqualizationGuaranteefunding,StateLeasingoraccountestablishedbyASK,butspecifically
excluding State funding under the Charter School Act which is specifically dedicated to the
payment of expenses of the Charter School which do not include payment of amounts due
undertheLeaseandallsuchoperatingexpensesofASKrequiredunderStateorfederallawsto
providerequirededucationalprogramexpenditures.
ThetotalbondpayableasofJune30,2015isasfollows:
Series2015EducationFacilityRevenueBond;
Interestrate5.25%dueinquarterlyinstallments;
MaturingFebruary1,2025
$
670,000
1,880,000
3,810,000
Series2015TaxableEducationFacilityRevenueBond;
340,000
TotalBondPayable
$
6,700,000
Vol. IV - 93
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
Theaggregateamountsofprincipalmaturitiesandinterestofbondspayableareasfollows:
Principal
Interest
Total
2016
$
379,465
379,465
2017
90,000
391,425
481,425
2018
95,000
386,250
481,250
2019
100,000
380,788
480,788
2020
105,000
375,037
480,037
20212025
620,000
1,784,300
2,404,300
20262030
810,000
1,595,237
2,405,237
20312035
1,070,000
1,334,763
2,404,763
20362040
1,420,000
983,100
2,403,100
20412043
2,390,000
500,700
2,890,700
Total
$
6,700,000
8,111,065
14,811,065
TherewerenofundsthathadadeficitfundbalanceatJune30,2015.
NOTE6.OVERSPENTBUDGETLINEITEMS
TherewerenofundsthatoverspentthebudgetduringtheyearendedJune30,2015.
The ASK Academy has created a Foundation which donates various funds to the school and
enteredrevenuebondstoconstructabuildingfortheschool.TheFoundationisconsidereda
componentunitoftheSchoolandispresentedasablendedcomponentunit.
TheASKAcademyanddoesnotincludegeneraldisclosureinformationpertainingtotheNew
MexicoEducationalEmployeesRetirementPlan.Generaldisclosureinformationincludingplan
description, benefits provided, applicable actuarial assumptions, and location for additional
informationabouttheNewMexicoEducationalRetirementBoardsfiduciarynetpositioncanbe
foundwithinthebasicfinancialstatementsofthePublicEducationDepartment.
Vol. IV - 94
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
NOTE8.PENSIONPLANEDUCATIONALRETIREMENTBOARD(Continued)
Contributions. The contribution requirements of defined benefit plan members and The ASK
Academy are established in state statute under Chapter 10, Article 11, NMSA 1978. The
requirements may be amended by acts of the legislature. For the fiscal year ended June 30,
2014employerscontributed13.15%ifemployeesgrossannualsalarytothePlan.Employees
grossannualsalary.ContributionstothepensionplanfromTheASKAcademywere$186,755
fortheyearendedJune30,2015.
2015,TheASKAcademyreportedaliabilityof$2,127,658foritsproportionateshareofthenet
pension liability. The ASK Academys proportion of the net pension liability is based on the
employer contributing entitys percentage of total employer contributions for the fiscal year
endedJune30,2014.ThecontributionamountsweredefinedbySection221121,NMSA1978.
AtJune30,2014,TheASKAcademysproportionwas0.03729%percent,whichwasanincrease
of0.00859%fromitsproportionmeasuredasofJune30,2013.
FortheyearendedJune30,2015,TheASKAcademyrecognizedpensionexpenseof$286,230.
AttheJune30,2015,TheASKAcademyreporteddeferredoutflowsofresourcesanddeferred
inflowsorresourcesrelatedtopensionsfromthefollowingsources:
Vol. IV - 95
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
Deferred
Deferred
Outflowsof
Inflowsof
Resources
Resources
$
31,692



193,399

ChangesinproportionanddifferencesbetweenTheASK
Academycontributionsandproportionateshareof
contributions
400,210

TheASKAcademycontributionssubsequenttothe
measurementdate
186,755

Total
$586,965
225,091
$186,755 reported as deferred outflows of resources related to pensions resulting from The
ASK Academy contributions subsequent to the measurement date June 30, 2014 will be
recognized as a reduction of the net pension liability in the year ended June 30, 2016. Other
YearendedJune30:
2016
$(79,603)
2017
(79,603)
2018
(64,248)
2019
48,335
Total
$(175,119)
Vol. IV - 96
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
SensitivityofTheASKAcademysproportionateshareofthenetpensionliabilitytochangesin
the discount rate. The following table shows the sensitivity of the net pension liability to
changesinthediscountrateasofthefiscalyearend2014.Inparticular,thetablepresentsthe
(employers) net pension liability under the current single rate assumption, as if it were
calculatedusingadiscountrateonepercentagepointlower(6.75%)oronepercentagepoint
higher(8.75%)thanthesinglediscountrate.
Current
Discount
1%Decrease
Rate
1%Increase
(6.75%)
(7.75%)
(8.75%)
TheASKAcademysproportionateshare
ofthenetpensionliability
$2,894,926
2,127,658
1,486,670
Payablestothepensionplan.TheASKAcademyaccrued$40,450inERBbenefitsatJune30,
2015forteacherswithtenmonthcontracts.
NOTE9.PRIORPERIODADJUSTMENT
forPensions,NetPositionatJune30,2014wasrestatedintheamountof$(1,666,308).
Vol. IV - 97
Vol. IV - 98
66.54%
207.00%
1,028
2,128
2015
0.04%
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%


Pension Liability (Asset) as a Percentage of
Its Covered-Employee Payroll


Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

The ASK Academy
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 99
(175)
Total Amount
Deferred
Year
2014 $
(175)
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
(80)
2016
(80)
(80)
2017
(80)
-
(64)
2018
(64)
-
49
2019
49
-
2020
-
2015
135
135


STATE OF NEW MEXICO

The ASK Academy
June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
TheASKAcademy
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$2,705,984
2,705,984
2,450,058
13,497
5,806
2,469,361
2,450,057
15,873
5,859
2,471,789
(1)
2,376
53
2,428
1,576,456
1,396,966
1,293,828
103,138
347,588
15,000
51,500
364,843
123,071
441,459
2,919,917
438,712
27,540
83,517
287,793
127,641
455,825
2,817,994
395,474
23,671
77,015
224,289
122,721
433,742
2,570,740
43,238
3,869
6,502
63,504
4,920
22,083
247,254
(213,933)
(348,633)
(98,951)
249,682
(213,933)
(348,633)
(98,951)
249,682
$(213,933)
(348,633)
REVENUES
StateGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
Original
Budget
345,799
345,799
246,848
595,481
$(98,951)
(9,427)
$(108,378)
Vol. IV - 100
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$11,760
11,760
20,419
20,419
20,419
20,419
EXPENDITURES
Current:
Instruction
TotalExpenditures
11,760
11,760
20,419
20,419
9,021
9,021
11,398
11,398
11,398
11,398
11,398
11,398
10,980
10,980
22,378
22,378
$11,398
(378)
$11,020
Vol. IV - 101
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$36,540
36,540
40,631
40,631
42,424
42,424
1,793
1,793
Original
Budget
EXPENDITURES
Current:
Instruction
TotalExpenditures
36,540
36,540
40,631
40,631
40,631
40,631
1,793
1,793
1,793
1,793
(1,793)
(1,793)
$1,793
(1,793)
Vol. IV - 102
STATEOFNEWMEXICO
TheASKAcademy
IDEAB"RiskPool"Fund24120
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
47
47
335
335
288
288
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
47
47
47
47
288
288
288
288
(335)
(335)
(47)
(47)
$288
(288)
Vol. IV - 103
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$4,484
4,484
8,879
8,879
500
500
(8,379)
(8,379)
EXPENDITURES
Current:
Instruction
TotalExpenditures
4,484
4,484
8,879
8,879
8,879
8,879
500
500
500
500
(500)
(500)
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$500
(500)
Vol. IV - 104
STATEOFNEWMEXICO
TheASKAcademy
CNMFoundation26207
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
1,500
1,500
1,500
1,500
EXPENDITURES
Current:
Instruction
TotalExpenditures
1,500
1,500
1,495
1,495
5
5
1,251
1,251
1,256
1,256
REVENUES
MiscellaneousIncome
TotalRevenues
$5
$5
Vol. IV - 105
STATEOFNEWMEXICO
TheASKAcademy
CreditforInstructionalMaterials27103
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
1,026
1,026
824
824
(202)
(202)
EXPENDITURES
Current:
Instruction
TotalExpenditures
1,026
1,026
824
824
202
202
Original
Budget
REVENUES
StateGrant
TotalRevenues
Vol. IV - 106
STATEOFNEWMEXICO
TheASKAcademy
Robotics201327116
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
9,957
9,957
12,575
12,575
2,618
2,618
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
9,957
9,957
7,072
7,072
2,885
2,885
5,503
5,503
5,503
5,503
(5,503)
(5,503)
$5,503
(3,243)
$2,260
Vol. IV - 107
STATEOFNEWMEXICO
TheASKAcademy
STEMTeacherInitiative27181
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
30,375
30,375
15,644
15,644
(14,731)
(14,731)
EXPENDITURES
Current:
Instruction
TotalExpenditures
30,375
30,375
29,100
29,100
1,275
1,275
(13,456)
(13,456)
(13,456)
(13,456)
(13,456)
(13,456)
Original
Budget
REVENUES
StateGrant
TotalRevenues
$(13,456)
13,456
Vol. IV - 108
STATEOFNEWMEXICO
TheASKAcademy
FoundationUNMSubAward28102
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$11,629
11,629
11,629
11,629
3,335
3,335
(8,294)
(8,294)
7,775
7,775
3,139
4,636
3,854
11,629
3,854
11,629
3,402
6,541
452
5,088
(3,206)
(3,206)
(3,206)
(3,206)
(3,335)
(3,335)
(6,541)
(6,541)
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
TotalExpenditures
Original
Budget
$(3,206)
6,541
$3,335
Vol. IV - 109
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
163,899
163,899
153,447
153,447
(10,452)
(10,452)
163,899
163,899
163,899
163,899
(10,452)
(10,452)
(10,452)
(10,452)
(30,523)
(30,523)
(40,975)
(40,975)
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
$(10,452)
40,975
$30,523
Vol. IV - 110
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$230,000
230,000
230,000
230,000
(230,000)
(230,000)
EXPENDITURES
CapitalOutlay
TotalExpenditures
230,000
230,000
230,000
230,000
20,000
20,000
210,000
210,000
(20,000)
(20,000)
(20,000)
(20,000)
(20,000)
(20,000)
$(20,000)
20,000
Vol. IV - 111
STATEOFNEWMEXICO
TheASKAcademy
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$56,335
8,461
64,796
56,335
19,565
75,900
49,892
49,892
(6,443)
(19,565)
(26,008)
64,796
64,796
75,900
75,900
45,596
45,596
30,304
30,304
4,296
4,296
4,296
4,296
60,596
60,596
64,892
64,892
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
Original
Budget
$4,296
15,963
$20,259
Vol. IV - 112
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
NameofDepository
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
WellsFargoBank
SecurityType
FNAJ37903.000%11/01/2026
FNAR91993.000%03/01/2043
FNAT58953.000%06/01/2043
FNAT68924.000%09/01/2043
FNAU09243.500%07/01/2043
FNAA69334.500%08/01/2039
FNMA10033.500%03/01/2042
FNMA15843.500%09/01/2033
CUSIP/Security
Number
3138AVF83
3138W7GH1
3138WTRR9
3138WUUS0
3138X0A24
31416QV36
31418ADH8
31418AXN3
MaturityDate
11/1/2026
3/1/2043
6/1/2043
9/1/2043
7/1/2043
8/1/2039
3/1/2042
9/1/2033
FairValue
June30,2015
$ 537
1,164
12,227
25,474
55,730
439
1,176
5,052
$101,799
TotalCashperScheduleofCashAccounts(ExcludingFoundation): $ 407,687
Vol. IV - 113
STATEOFNEWMEXICO
TheASKAcademy
June30,2015
BankAccountType
CheckingFoundation
TotalonDeposit
WellsFargo
$407,687
5,114,484
5,522,171
ReconcilingItems
(1,398)
5,520,773
LessAgencyFunds
(6,942)
TotalCash
$5,513,831
Vol. IV - 114
STATEOFNEWMEXICO
TheASKAcademy
CashReconciliation
June30,2015
Operational
11000
Instructional
Materials
14000
Student
ActivityFund
23000
$ 401,280
10,980
21,532
2,471,789
20,419
11,775
2,873,069
31,399
33,307
(2,626,221)
140,781

(9,021)

(26,365)
CashJune30,2015
387,629
22,378
6,942
CashperBooks
(81,019)
306,610

22,378
6,942
(155,689)
$ 231,940
(378)
22,000
(6,942)
Cash,June30,2014
Add:
201415revenues
Totalcashavailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 115
Federal
Flowthrough
24000
LocalGrants
26000
State
Flowthrough
27000
2,834
1,256
1,377
43,259
1,500
29,043
3,335
153,447
46,093
2,756
29,043
3,335
1,377
153,447
(43,306)
(1,500)
(42,499)

(9,876)

(194,422)

2,787
1,256
(13,456)
(6,541)
1,377
(40,975)
47
2,834
1,256
13,456

6,541

1,377
40,975

47
2,834
1,256
13,456

6,541

1,377
40,975

StateDirect
28000
LocalorState
Fund
29000
PublicSchool
CapitalOutlay
31200
Vol. IV - 116
STATEOFNEWMEXICO
TheASKAcademy
CashReconciliation(Continued)
June30,2015
SpecialCapital
OutlayState
31400
Cash,June30,2014
Capital
Improvements
SB9
31700
Total
60,596
499,855
49,892
2,784,459
110,488
3,284,314
(20,000)

(45,596)
(3,018,806)
140,781

(20,000)
64,892
406,289
Add:
201415revenues
Totalcashavailable
Less:
201415expenditures
OutstandingLoans
CashJune30,2015
20,000
CashperBooks

64,892
Add:FoundationCashperBalanceSheetGovernmentalFunds:
TotalCashperBooks:
20,000
$
15,963
80,855
Add:Foundation:

406,289
5,114,484
(6,942)
$ 5,513,831
(66,027)
340,262
5,114,484
$ 5,454,746
Vol. IV - 117
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
Deposits
PrepaidExpenses
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
$667,579
34,542
13,000
31,811
746,932
23,270
107,402
(111,801)
18,871
TotalAssets
765,803
190,439
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
39,375
117,656
157,031
NetPensionLiability
2,100,841
2,100,841
TotalLiabilities
2,257,872
222,243
NETPOSITION
Restricted
Unrestricted(deficit)
18,871
114,208
(1,656,952)
TotalNetPosition
$(1,523,873)
Vol. IV - 118
STATEOFNEWMEXICO
ProgramRevenues
Chargesfor
Service
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
$1,108,575
167,987
(940,588)
SupportServices:
Students
Instruction
303,036
2,404
25,446
245,273
(303,036)
(2,404)
(25,446)
(245,273)
CentralServices
FoodServices
108,148
390,862
51,869
229,628
49,554
211,654
(108,148)
(390,862)
(2,315)
(17,974)
$2,465,241
217,541
211,654
(2,036,046)
Expenses
GeneralRevenues:
PropertyTaxes
Miscellaneous
$57,222
2,026,082
2,542
2,085,846
ChangeinNetPosition
49,800
546,278
RestatementrecognizedbyGASB68
(2,119,951)
NetPosition(deficit),asrestated
(1,573,673)
Netposition(deficit),Ending
$(1,523,873)
Vol. IV - 119
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Deposits
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalance:
Nonspendable:
Deposits
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
Unassigned(Deficit)
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$ 555,169
19,100

25,328
13,000

9,562

$593,497
19,100
9,562
$ 30,039
109,233

139,272
3,807

3,807

1,046
1,046

4,209
5,353
9,562
13,000

15,293

441,225

454,225

15,293

(1,046)
(1,046)
$593,497
19,100
9,562
Vol. IV - 120
IDEAB
Entitlement
24106
Teacher
Principal
Training
24154
TitleXIX
Medicaid
25152
CNM
Foundation
26207
DualCredit
Instructional
Materials
27103
GRADS
28190
183
9,089
1,413
9,089
1,413
183
4,214
4,875
9,089
1,413
1,413
183
183
9,089
1,413
183
Vol. IV - 121
STATEOFNEWMEXICO
June30,2015
GRADS
Plus
28203
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
Deposits
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalance:
Nonspendable:
Deposits
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
Unassigned(Deficit)
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
SB9Capital
Improvements
31700
53,921
14,478

$14,478
53,921
$ 1,837

12,641
14,478

53,921

53,921
$14,478
53,921
Vol. IV - 122
Foundation
Total
39,206
667,579
31,811
34,542
25,328
13,000
31,811
71,017
772,260
3,692
3,692
39,375
117,656
25,328
182,359
31,811
13,000
31,811
15,476
53,921
35,514
67,325
441,225
34,468
589,901
71,017
772,260
Vol. IV - 123
STATEOFNEWMEXICO
June30,2015
$ 589,901
CapitalAssets
130,672
(111,801)
18,871
resourcesand,therfore,arenotreportedinthefunds.
190,439
inthefunds.
(222,243)
(2,100,841)
$(1,523,873)
Vol. IV - 124
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$
2,493
2,026,082

2,028,575

14,443

14,443
49,554
49,554

70,736

70,736
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
932,399
9,376
70,458
300,397
2,404
25,446
241,092
107,666
389,146
433

1,998,983

9,376
51,436
51,436
278

70,736
29,592
5,067
(1,882)
424,633
10,226
836
$454,225
15,293
(1,046)
Vol. IV - 125
IDEAB
Entitlement
24106
Teacher
Principal
Training
24154
TitleXIX
Medicaid
25152
CNM
Foundation
26207
DualCredit
Instructional
Materials
27103
GRADS
28190
42,248
42,248
10,496
10,496

183

183

1,500

1,500

881

881
11,500
11,500
42,248
8,600
1,500
881
11,500
42,248
1,896
10,496

1,500

881
11,500
183
183
Vol. IV - 126
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
GRADS
Plus
28203
PublicSchool
CapitalOutlay
31200
SpecialCapital
OutlayState
31400
SB9Capital
Improvements
31700
$

16,000

16,000

149,470

149,470
62,184
62,184
57,222

57,222
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
16,023

16,023

149,470
149,470
62,184
62,184

30,786
30,786
(23)
26,436
23
27,485
53,921
Vol. IV - 127
Foundation
Total
404,739
49
404,788
57,222
3,993
2,280,560
173,217
404,739
49
2,919,780
1,092,985
391,927
391,927
300,675
2,404
25,446
242,988
107,666
389,146
51,869
634,367
2,847,546
12,861
72,234
54,464
517,667
67,325
589,901
Vol. IV - 128
STATEOFNEWMEXICO
$ 72,234
DepreciationExpense
(9,740)
(12,694)
$49,800
Vol. IV - 129
STATEOFNEWMEXICO
June30,2015
Agency
ASSETS
CashinBank
AccountsReceivable
TotalAssets
LIABILITIES
TotalLiabilities
$ 5,329
279
$5,608
$ 5,608
$5,608
Vol. IV - 130
STATEOFNEWMEXICO
ASSETS
CashinBank
AccountsReceivable
TotalAssets
LIABILITIES
TotalLiabilities
Balance
July1,2014
Additions
Deductions
Balance
June30,2015
$ 6,112

7,918
279
(8,701)
5,329
279
$6,112
$8,197
$(8,701)
$5,608
$ 6,112
8,197
(8,701)
5,608
$6,112
8,197
(8,701)
5,608
Vol. IV - 131
STATEOFNEWMEXICO
June30,2015

asincurred.CesarChavezCommunitySchoolscapitalizationpolicy(i.e.,thedollarvalueabove
which the asset acquisitions are added to the capital accounts) is $5,000. Cesar Chavez
CommunitySchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. Cesar Chavez Community School utilizes Internal Revenue Service
57years
57years
Capital assets for Cesar Chavez Community School are recorded in the Statement of Net
Position.
Vol. IV - 132
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Total
Total
CapitalAssets,Net
Balance
107,402
23,270
130,672
(80,506)
(8,024)
(21,555)
(1,716)
(102,061)
(9,740)
$
28,611
(9,740)
Deletions
Balance
June30,2015
107,402
23,270
130,672
(88,530)
(23,271)
(111,801)
18,871
functions:
Instruction
Total
8,024
1,716
9,740
Cesar Chavez Community School leases equipment and facilities under longterm cancelable
operatingleases.RentalexpensesfortheyearendedJune30,2015was$410,977.TheCesar
ChavezCommunitySchoolsminimumfuturepaymentsontheseleasesareasfollows:
YearEndingJune30:
2016
2017
2018
2019
2020
Total
422,542
433,392
440,805
451,061
462,289
2,210,089
Vol. IV - 133
STATEOFNEWMEXICO
June30,2015
TheCesarChavezCommunitySchoolEducationFoundation(Foundation)leasedafacilityunder
alongtermcancelableoperatinglease.RentalexpensesfortheyearendedJune30,2015was
$350,169.TheFoundationsminimumfuturepaymentsontheseleasesareasfollows:
YearEndingJune30:
2016
2017
2018
2019
2020
Total
361,694
372,544
383,721
395,232
407,089
1,920,280
FoodServices21000
1,046
Cesar Chavez Community School is addressing the negative fund balance and is planning on
takingtheappropriateactionstoeliminateit.
CesarChavezCommunitySchoolhasaFoundationwhichsubleasesthepropertytotheschool.
The Foundation is considered a component unit of Cesar Chavez Community School and is
presentedasablendedcomponentunit.Inaddition,businessmanagerservicesareperformed
byAptability,whichperformedservicesformultiplestatecharterschools.
CesarChavezCommunitySchoolanddoesnotincludegeneraldisclosureinformationpertaining
Vol. IV - 134
STATEOFNEWMEXICO
June30,2015
Contributions. The contribution requirements of defined benefit plan members and Cesar Chavez
Community School are established in state statute under Chapter 10, Article 11, NMSA 1978. The
requirements may be amended by acts of the legislature. For the fiscal year ended June 30, 2014,
employerscontributed13.15%ifemployeesgrossannualsalarytothePlan.Employeesearning$20,000
orlesscontributed7.90%andemployeesearningmorethan$20,000contributed10.10%oftheirgross
annualsalary.ForfiscalyearendedJune30,2015employerscontributed13.90%andemployeesearning
$20,000orlesscontinuedtocontribute7.90%andemployeesearningmorethan$20,000contributed
an increased amount of 10.70% of their gross annual salary. Contributions to the pension plan from
CesarChavezCommunitySchoolwere$147,583fortheyearendedJune30,2015.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions: The total ERB pension liability, net pension liability, and sensitivity
informationwerebasedonanannualactuarialvaluationperformedasofJune30,2013.ThetotalERB
pensionliabilitywasrolledforwardfromthevaluationdatetothePlanyearendingJune30,2014,using
generally accepted actuarial principles. Therefore, the employers portion was established as of the
measurement date of June 30, 2014. At June 30, 2015, Cesar Chavez Community School reported a
liabilityof$2,100,841foritsproportionateshareofthenetpensionliability.CesarChavezCommunity
Schools proportion of the net pension liability is based on the employer contributing entitys
percentage of total employer contributions for the fiscal year ended June 30, 2014. The contribution
amounts were defined by Section 221121, NMSA 1978. At June 30, 2014, Cesar Chavez Community
Schoolsproportionwas0.03682%,whichwasanincreaseof0.00092%fromitsproportionmeasuredas
ofJune30,2013.
For the year ended June 30, 2015, Cesar Chavez Community School recognized pension expense of
$160,277.AtJune30,2015,CesarChavezreporteddeferredoutflowsofresourcesanddeferredinflows
ofresourcesrelatedtopensionsfromthefollowingsources:
ChangesinproportionanddifferencesbetweenCesarChavez
CommunitySchoolcontributionsandproportionateshareof
contributions
CesarChavezCommunitySchoolcontributionssubsequentto
themeasurementdate
Total
Deferred
Outflowsof
Resources
$

Deferred
Inflowsof
Resources
31,291
190,952
42,856
147,583
$190,439
222,243
Vol. IV - 135
STATEOFNEWMEXICO
June30,2015
resultingfromCesarChavezCommunitySchoolcontributionssubsequenttothemeasurement
dateofJune30,2014willberecognizedasareductionofthenetpensionliabilityintheyear
endedJune30,2016.Otheramountsreportedasdeferredoutflowsofresourcesanddeferred
inflowsofresourcesrelatedtopensionswillberecognizedinpensionexpenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$ 43,730
43,730
44,212
47,715
$ 179,387
Sensitivity of Cesar Chavez Community Schools proportionate share of the net pension
pension liability to changes in the discount rate as of June 30, 2014. In particular, the table
The Schools proportionate share of the

netpensionliability
1%Decrease
(6.75%)
$2,858,439
Current
Discount
Rate
(7.75%)
1%Increase
(8.75%)
2,100,841
1,467,857
Payablestothepensionplan.AtJune30,2015,CesarChavezCommunitySchoolowed$33,349
toERBforfiscalyear2015contributions.
NOTE7.RESTATEMENT
Vol. IV - 136
Vol. IV - 137
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

1,015
207.03%
2,101
2015
0.04%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 138
179
Total Amount
Deferred
Year
2014 $
179
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
2016
44
44
44
2017
44
$
44
2018
44
-
47
2019
47
-
2020
-
2015
133
133


STATE OF NEW MEXICO

June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
REVENUES
Local&CountyGrant
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
2,025,070
2,025,070

2,026,082
2,026,082
2,493
2,026,082
2,028,575
2,493

2,493
1,164,663
1,201,546
934,649
266,897
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
296,318

28,600
241,532
85,341
391,643
116,000

2,324,097
313,966

29,785
245,133
128,749
404,099
116,000
800
2,440,078
299,055
2,404
20,257
241,092
92,434
380,988
433
1,971,312
14,911
(2,404)
9,528
4,041
36,315
23,111
116,000
367
468,766
(299,027)
(413,996)
57,263
471,259
DesignatedCash
299,027
299,027
413,996
413,996
(413,996)
(413,996)
57,263
57,263
424,633
424,633
481,896
481,896
$57,263
(27,671)
$29,592
Vol. IV - 139
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$ 10,299
10,299
14,443
14,443
14,443
14,443
EXPENDITURES
Current:
Instruction
TotalExpenditures
10,299
10,299
24,668
24,668
5,569
5,569
19,099
19,099
(10,225)
8,874
19,099
DesignatedCash
10,225
10,225
(10,225)
(10,225)
8,874
8,874
10,226
10,226
19,100
19,100
$8,874
(3,807)
$5,067
Vol. IV - 140
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 60,000
5,000
65,000
60,000

60,000
49,554
49,554
(10,446)

(10,446)
65,000
65,000
60,836
60,836
51,436
51,436
9,400
9,400
(836)
(1,882)
(1,046)
DesignatedCash
836
836
(836)
(836)
(1,882)
(1,882)
836
836
(1,046)
(1,046)
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
TotalExpenditures
Original
Budget
$(1,882)
$(1,882)
Vol. IV - 141
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 84,743
84,743
75,378
75,378
61,174
61,174
(14,204)
(14,204)
83,743
74,378
70,458
3,920
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
1,000
84,743
1,000
75,378
278
70,736
722
4,642
(9,562)
(9,562)
(9,562)
(9,562)
(9,562)
(9,562)
$(9,562)
9,562
Vol. IV - 142
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 37,994
37,994
42,248
42,248
33,159
33,159
(9,089)
(9,089)
EXPENDITURES
Current:
Instruction
TotalExpenditures
37,994
37,994
42,248
42,248
42,248
42,248
(9,089)
(9,089)
(9,089)
(9,089)
(9,089)
(9,089)
$(9,089)
9,089
Vol. IV - 143
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 10,896
10,896
13,746
13,746
9,084
9,084
(4,662)
(4,662)
9,000
11,850
8,600
3,250
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Totalexpenditures
1,896
10,896
1,896
13,746
1,896
10,496

3,250
(1,412)
(1,412)
(1,412)
(1,412)
(1,412)
(1,412)
$(1,412)
1,412
Vol. IV - 144
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
2,000
2,000
183
183
(1,817)
(1,817)
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
2,000
2,000
2,000
2,000
183
183
183
183
183
183
$183
$183
Vol. IV - 145
STATEOFNEWMEXICO
CNMFoundation26207
BudgetedAmounts
Original
Budget
REVENUES
Local&CountyGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
1,500
1,500
1,500
1,500
EXPENDITURES
Current:
Instruction
TotalExpenditures
1,500
1,500
1,500
1,500
Vol. IV - 146
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
1,062
1,062
881
881
(181)
(181)
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
1,062
1,062
881
881
181
181
Vol. IV - 147
STATEOFNEWMEXICO
GRADS28190
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
11,500
11,500
5,750
5,750
(5,750)
(5,750)
EXPENDITURES
Current:
Instruction
TotalExpenditures
11,500
11,500
11,500
11,500
(5,750)
(5,750)
(5,750)
(5,750)
(5,750)
(5,750)
Original
Budget
REVENUES
StateGrant
TotalRevenues
$(5,750)
5,750
Vol. IV - 148
STATEOFNEWMEXICO
GRADSPlus28203
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
16,000
16,000
7,273
7,273
(8,727)
(8,727)
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
TotalExpenditures
16,000
16,000
14,164
14,164
1,836
1,836
(6,891)
(6,891)
(6,891)
(6,891)
(6,891)
(6,891)
$(6,891)
8,727
(1,859)
$(23)
Vol. IV - 149
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
149,470
149,470
149,470
149,470
149,470
149,470
149,470
149,470
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
Vol. IV - 150
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 97,215
97,215
97,215
97,215
50,370
50,370
(46,845)
(46,845)
Original
Budget
EXPENDITURES
CapitalOutlay
TotalExpenditures
97,215
97,215
97,215
97,215
62,184
62,184
35,031
35,031
(11,814)
(11,814)
(11,814)
(11,814)
(11,814)
(11,814)
$(11,814)
11,814
Vol. IV - 151
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$ 59,029
8,152
67,181
59,029
12,868
71,897
57,222
57,222
(1,807)
(12,868)
(14,675)
79,157
79,157
99,382
99,382
30,786
30,786
68,596
68,596
(11,976)
(27,485)
26,436
53,921
DesignatedCash
11,976
11,976
27,485
27,485
(27,485)
(27,485)
26,436
26,436
27,485
27,485
53,921
53,921
REVENUES
PropertyTaxes
Local&CountyGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
Original
Budget
$26,436
$26,436
Vol. IV - 152
STATEOFNEWMEXICO
June30,2015
NameofDepository
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
WellsFargo
SecurityType
FNAI1934
FNAR8932
FNAT6892
FNAU0924
FNMA1029
FNMA1534
FNMA1525
CUSIP/Security
Number
3138AFEG1
3138W64S2
3138WUUS0
3138X0A24
31418AEB0
31418AV47
31418AVT2
FairValue
June30,2015
MaturityDate
5/1/2041
3/1/2043
9/1/2043
7/1/2043
3/1/2032
8/1/2043
8/1/2043
$ 70,557
10,238
37,056
53,544
42,151
6,730
18,840
$239,116
TotalCashinBankfortheSchoolperScheduleofCashAccounts: $ 638,119
SchoolBalanceUninsuredandUncollateralizedatJune30,2015: $ 149,003
Vol. IV - 153
STATEOFNEWMEXICO
June30,2015
BankAccountType
WellsFargo
BankofAlbuquerque
Total
$ 632,714
5,405

39,206
632,714
5,405
39,206
638,119
39,206
677,325
ReconcilingItems
(4,417)
(4,417)
633,702
39,206
672,908
LessAgencyFunds
(5,329)
(5,329)
$628,373
39,206
667,579
CheckingActivityAccount
CheckingFoundation
TotalonDeposit
TotalCash
Vol. IV - 154
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
NonInstruct.
Fund
FederalProjects
Account
11000
14000
21000
23000
24000
$ 434,073
10,226
836
6,112
6,235
2,028,575
14,443
49,554
8,197
103,417
2,462,648
24,669
50,390
14,309
109,652
(1,971,312)
37,926
25,907
(5,569)

(51,436)

1,046
(8,701)
(279)
(123,480)
41,608
(27,780)
CashJune30,2015
555,169
19,100
5,329
CashPerBooks

555,169

19,100
5,329
(100,944)
$ 454,225
(3,807)
15,293
(1,046)
(1,046)
(5,329)
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 155
FederalDirect
Account
LocalGrant
Account
State
Account
StateDirect
Account
PublicSchool
CapitalOutlay
SpecialCapital
OutlayState
SB9Capital
Improvements
25000
26000
27000
28000
31200
31400
31700
Total
23
26,370
483,875
183
1,500
881
13,023
149,470
50,370
57,222
2,476,835
183
1,500
881
13,046
149,470
50,370
83,592
2,960,710
(1,500)
(881)
(25,664)

12,641
(149,470)

(62,184)
23,628
(11,814)
(30,786)
1,115
(2,430,983)
103,998

183
23
53,921
633,725
183
(23)

53,921
(23)
633,702
(5,329)
39,206
$667,579
183
53,921
Add:Foundation:
(111,126)
522,576
67,325
$589,901
Vol. IV - 156
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
DuefromGovernment
PrepaidExpenditures
TotalCurrentAssets
45,213
55,338
1,042,854
NoncurrentAssets:
CapitalAssets
16,162
175,127
(71,398)
119,891
$942,303
TotalAssets
1,162,745
519,344
CurrentLiabilities:
AccountsPayable
AccruedExpenditures
DuetoGovernment
15,873
243,327
14,510
273,710
NetPensionLiability
2,620,063
2,620,063
TotalLiabilities
2,893,773
277,226
NETPOSITION
Restricted
119,891
599,930
(2,208,731)
TotalNetPosition
$(1,488,910)
Vol. IV - 157
STATEOFNEWMEXICO
ProgramRevenues
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
Expenses
Chargesfor
Service
$1,890,891
53,507
164,922
(1,672,462)
SupportServices:
Students
Instruction
180,018
32,100
26,351
332,790
(180,018)
(32,100)
(26,351)
(332,790)
77,429
302,098
101,672
74,260
29,047
105,837
47,694
(77,429)
(302,098)
4,165
2,481
307,178
229,754
(77,424)
$3,324,787
82,554
318,453
229,754
(2,694,026)
CentralServices
FoodServices
Services
GeneralRevenues:
PropertyTaxes
Miscellaneous
$283,196
2,526,481
4,687
2,814,364
ChangeinNetPosition
120,338
682,314
(2,291,562)
NetPosition,Beginning,asRestated
(1,609,248)
NetPosition,Ending
$(1,488,910)
Vol. IV - 158
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoGovernment
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Nonspendable:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
TotalFundBalance
Operational
11000
Pupil
Transportation
13000
Instructional
Materials
14000
Food
Services
21000
$385,229
29,019
15,042
14,488
22,116
46,893
$454,238
29,019
15,042
14,488
$9,746
228,385
238,131
14,510
14,510
46,893
14,509
15,042
14,488
169,214
216,107
14,509
15,042
14,488
$454,238
29,019
15,042
14,488
Vol. IV - 159
TitleI
IASA
24101
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
TitleXIX
Medicaid
25153
GoldenApple
Foundation
26163
3,527
699
14,189
7,954
68
3,736
14,189
7,954
68
3,736
3,527
699
4,093
10,096
14,189
4,778
3,176
7,954
68
68
3,736
3,736
3,527
699
3,527
699
14,189
7,954
68
3,736
3,527
699
Vol. IV - 160
STATEOFNEWMEXICO
June30,2015
LibraryGO
Bonds
27107
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoGovernment
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
TotalFundBalance
ReadstoLead
27114
NextGen
Assessments
27185
PublicSchool
CapitalOutlay
31200
11,111
11,111
6,071
5,040
11,111
11,111
Vol. IV - 161
HB33Capital
Improvements
31600
SB9Capital
Improvements
31700
Total
403,752
90,547
942,303
8,155
8,445
45,213
22,116
55,338
403,752
107,147
1,064,970
6,127
6,127
15,873
243,327
14,510
22,116
295,826
8,445
55,338
403,752
92,575
19,268
14,488
14,509
496,327
403,752
101,020
169,214
769,144
403,752
107,147
1,064,970
Vol. IV - 162
STATEOFNEWMEXICO
June30,2015
$769,144
CapitalAssets
191,289
(71,398)
119,891
resourcesand,therefore,arenotreportedinthefunds
519,344
inthefunds.
(277,226)
(2,620,063)
$(1,488,910)
Vol. IV - 163
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Operational
11000
Pupil
Transportation
13000
Instructional
Materials
14000
Food
Services
21000
$
2,637
2,526,481

53,507
4,687
2,587,312

105,837

105,837

24,972

24,972
47,694
29,047
76,741
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
1,674,628
11,624
176,674
32,100
26,351
319,833
75,161
289,383

2,533

2,596,663

101,672

101,672

11,624
71,727
71,727
(9,351)
4,165
13,348
5,014
225,458
10,344
1,694
9,474
$216,107
14,509
15,042
14,488
Vol. IV - 164
TitleI
IASA
24101
IDEAB
Entitlement
24106
IDEAB
RiskPool
24120
Teacher
Principal
Training
24154
TitleXIX
Medicaid
25153
GoldenApple
Foundation
26163
33,494
33,494
44,993
44,993
68
68

3,736

3,736

3,527

3,527
1,495
1,495
33,494
43,777
3,736
796
33,494
1,216
44,993
68
68

3,736
796
3,527
699
3,527
699
Vol. IV - 165
STATEOFNEWMEXICO
StatementofRevenues,Expenditures,andChangesInFundBalancesContinued
GovernmentalFunds
LibraryGO
Bonds
27107
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
ReadstoLead
27114
NextGen
Assessments
27185
PublicSchool
CapitalOutlay
31200

50,000

50,000

229,754

229,754
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
TotalExpenditures
50,000

50,000

229,754
229,754
Vol. IV - 166
HB33Capital
Improvements
31600
SB9Capital
Improvements
31700
Total
179,746
179,746
103,450
103,450
283,196
4,132
2,937,044
133,512
82,554
4,687
3,445,125
1,818,055
9,788
9,788
64,942
64,942
177,958
32,100
26,351
319,833
75,161
289,383
101,672
74,260
304,484
3,219,257
169,958
38,508
225,868
233,794
62,512
543,276
403,752
101,020
769,144
Vol. IV - 167
STATEOFNEWMEXICO
$225,868
DepreciationExpense
(19,147)
Changeinthenetpensionliability
(86,383)
$120,338
Vol. IV - 168
STATEOFNEWMEXICO
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
$1,201
$1,201
$1,201
$1,201
Vol. IV - 169
STATEOFNEWMEXICO
Balance
July1,2014
ASSETS
CashinBank
TotalAssets
LIABILITIES
TotalLiabilities
Additions
Deductions
Balance
June30,2015
2,321
(1,120)
1,201
2,321
(1,120)
1,201
2,321
(1,120)
1,201
2,321
(1,120)
1,201
Vol. IV - 170
STATEOFNEWMEXICO
June30,2015

asincurred.CienAguasInternationalSchoolscapitalizationpolicy(i.e.,thedollarvalueabove
which the asset acquisitions are added to the capital accounts) is $5,000. The Cien Aguas
InternationalSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. Cien Aguas International School utilizes Internal Revenue Service
BuildingImprovements
15years
315years
Capital assets for Cien Aguas International School are recorded in the Statement of Net
Position.
Vol. IV - 171
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Balance
Balance
Deletions
June30,2015
Furniture,FixturesandEquipment $
175,127
175,127
16,162
16,162
Total
191,289
191,289
(50,455) (16,453)
(66,908)
(1,796)
(2,694)
(4,490)
Total
(52,251) (19,147)
(71,398)
CapitalAssets,Net
$ 139,038 (19,147)
119,891
functions:
Instruction
OperationandMaintenanceofPlant
CapitalOutlay
Total
3,028
713
12,712
2,694
19,147
Cien Aguas International School leases facilities under longterm cancelable operating leases.
Lease expenses for the year ended June 30, 2015 was $329,705. Cien Aguas International
Schoolsminimumfuturepaymentsonthisleaseareasfollows:
YearEndingJune30:
2016
2017
2018
2019
2020
2021
Total
355,782
372,557
387,619
403,283
419,574
436,357
2,375,172
Vol. IV - 172
STATEOFNEWMEXICO
June30,2015
ThebusinessmanagerforCienAguasInternationalSchoolduringfiscalyear2014wasalsothe
businessmanagerforBataanMilitaryAcademycharterschool.Agoverningcouncilmemberis
employed by a company that provides services to the school. Payments to this vendor were
approximately$2,600duringtheyear.
CienAguasInternationalSchoolanddoesnotincludegeneraldisclosureinformationpertaining
Contributions.ThecontributionrequirementsofdefinedbenefitplanmembersandCienAguas
InternationalSchoolareestablishedinstatestatuteunderChapter10,Article11,NMSA1978.
Therequirementsmaybeamendedbyactsofthelegislature.ForthefiscalyearendedJune30,
2014,employerscontributed13.15%ifemployeesgrossannualsalarytothePlan.Employees
contributed13.90%andemployeesearning$20,000orlesscontinuedtocontribute7.90%and
gross annual salary. Contributions to the pension plan from Cien Aguas International School
2015, Cien Aguas International School reported a liability of $2,620,063 for its proportionate
share of the net pension liability. Cien Aguas International Schools proportion of the net
by Section 221121, NMSA 1978. At June 30, 2014, Cien Aguas International Schools
proportionwas0.04592%,whichwasanincreaseof0.00696%fromitsproportionmeasuredas
ofJune30,2013.
Vol. IV - 173
STATEOFNEWMEXICO
June30,2015
FortheyearendedJune30,2015,CienAguasInternationalSchoolrecognizedpensionexpense
of$290,780.AtJune30,2015,CienAguasInternationalSchoolreporteddeferredoutflowsof
resourcesanddeferredinflowsofresourcesrelatedtopensionsfromthefollowingsources:
Deferred
Outflowsof
Resources
Deferred
Inflowsof
Resources
39,033
238,193
Changes in proportion and differences between Cien

Aguas International School contributions and
314,947
Cien Aguas International School

204,397
contributions
Total
$519,344
277,226

resulting from Cien Aguas International Charter School contributions subsequent to the
measurement date of June 30, 2014 will be recognized as a reduction of the net pension
liability in the year ended June 30, 2016. Other amounts reported as deferred outflows of
resourcesanddeferredinflowsofresourcesrelatedtopensionswillberecognizedinpension
expenseasfollows:
YearendedJune30:
2016
2017
2018
2019
Total
$(36,260)
(36,260)
(24,764)
59,563
$(37,721)
Vol. IV - 174
STATEOFNEWMEXICO
June30,2015
Sensitivity of Cien Aguas International Schools proportionate share of the net pension
1%Decrease
(6.75%)
Cien Aguas International Schools

liability
$3,564,900
Current
Discount
Rate
(7.75%)
1%Increase
(8.75%)
2,620,063
1,831,005
Payablestothepensionplan.AtJune30,2015,CienAguasInternationalSchoolowed$64,081
toERBforfiscalyear2015contributions.
NOTE7.RESTATEMENT
AsaresultofimplementationofGASBNo.68,AccountingandFinancialReportingforPensions,
netpositionatJune30,2014wasrestatedintheamountof$(2,291,562).
NOTE8.OVERSPENTBUDGETLINEITEM
AsstateinfindingCS20150041,CienAguasInternationalSchoolhadexpendituresinexcessof
thebudgetinthefollowingfund:
11000Operational(Operation&MaintenanceofPlant)
11000Operational(FoodServicesOperations)
$12,543
$1,533
Vol. IV - 175
Vol. IV - 176
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

1,266
206.99%
2,620
2015
0.05%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 177
(38)
Total Amount
Deferred
Year
2014 $
(38)
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
(36)
2016
(36)
(36)
2017
(36)
-
(25)
2018
(25)
-
59
2019
59
-
2020
-
2015
166
166


STATE OF NEW MEXICO

June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$
2,476,499
45,000
2,521,499
2,524,513
4,687
45,000
2,574,200
2,637
2,526,481
4,687
53,507
2,587,312
2,637
1,968
8,507
13,112
1,791,325
1,791,235
1,670,199
121,036
141,320
41,420
32,500
310,832
78,220
279,623
1,000
2,676,240
180,384
32,100
28,300
319,267
82,575
293,990
1,000
2,728,851
175,521
32,100
25,477
317,055
80,228
318,779
2,533
2,621,892
4,863
2,823
2,212
2,347
(24,789)
(1,533)
106,959
(154,741)
(154,651)
(34,580)
120,071
DesignatedCash
154,741
154,741
154,651
154,651
(154,651)
(154,651)
(34,580)
(34,580)
225,458
225,458
190,878
190,878
REVENUES
Local&CountyGrant
StateGrant
Miscellaneous
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
Original
Budget
$(34,580)
25,229
$(9,351)
Vol. IV - 178
STATEOFNEWMEXICO
PupilTransportation13000
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$67,239
67,239
120,347
120,347
120,347
120,347
EXPENDITURES
Current:
TotalExpenditures
67,239
67,239
120,347
120,347
101,672
101,672
18,675
18,675
18,675
18,675
18,675
18,675
10,344
10,344
29,019
29,019
REVENUES
StateGrant
TotalRevenues
$18,675
(14,510)
$4,165
Vol. IV - 179
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$15,901
15,901
24,972
24,972
24,972
24,972
EXPENDITURES
Current:
Instruction
TotalExpenditures
15,901
15,901
24,972
24,972
11,624
11,624
13,348
13,348
13,348
13,348
13,348
13,348
1,694
1,694
15,042
15,042
$13,348
$13,348
Vol. IV - 180
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$46,000
17,000
63,000
54,323
17,000
71,323
47,694
29,047
76,741
(6,629)
12,047
5,418
64,000
64,000
72,323
72,323
71,727
71,727
596
596
(1,000)
(1,000)
5,014
6,014
DesignatedCash
1,000
1,000
1,000
1,000
(1,000)
(1,000)
5,014
5,014
9,474
9,474
14,488
14,488
REVENUES
FederalGrant
ChargesforServices
TotalRevenues
EXPENDITURES
Current:
TotalExpenditures
Original
Budget
$5,014
$5,014
Vol. IV - 181
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$39,643
39,643
39,643
39,643
29,006
29,006
(10,637)
(10,637)
EXPENDITURES
Current:
Instruction
TotalExpenditures
39,643
39,643
39,643
39,643
33,494
33,494
6,149
6,149
(4,488)
(4,488)
(4,488)
(4,488)
(4,488)
(4,488)
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$(4,488)
4,488
Vol. IV - 182
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$43,671
43,671
48,564
48,564
62,738
62,738
14,174
14,174
43,671
47,348
43,777
3,571
43,671
1,216
48,564
1,216
44,993
3,571
17,745
17,745
17,745
17,745
17,745
17,745
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
Original
Budget
$17,745
(17,745)
Vol. IV - 183
STATEOFNEWMEXICO
IDEABRiskPool24120
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
68
68
543
543
475
475
68
68
68
68
475
475
475
475
475
475
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
$475
(475)
Vol. IV - 184
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$8,984
8,984
12,441
12,441
8,806
8,806
(3,635)
(3,635)
EXPENDITURES
Current:
Instruction
Totalexpenditures
8,984
8,984
12,441
12,441
3,736
3,736
8,705
8,705
5,070
5,070
5,070
5,070
5,070
5,070
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$5,070
(5,070)
Vol. IV - 185
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
3,527
3,527
3,527
3,527
3,527
3,527
3,527
3,527
3,527
3,527
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
DebtService
Principal
Interest
TotalExpenditures
$3,527
$3,527
Vol. IV - 186
STATEOFNEWMEXICO
GoldenAppleFoundation26163
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
1,495
1,495
1,495
1,495
EXPENDITURES
Current:
Instruction
TotalExpenditures
1,495
1,495
796
796
699
699
699
699
699
699
699
699
REVENUES
Local&CountyGrant
TotalRevenues
$699
$699
Vol. IV - 187
STATEOFNEWMEXICO
2012GOBondStudentLibrary27107
BudgetedAmounts
Original
Budget
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
3,273
3,273
3,273
3,273
3,273
3,273
3,273
3,273
3,273
3,273
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
DebtService
Principal
Interest
TotalExpenditures
$3,273
(3,273)
Vol. IV - 188
STATEOFNEWMEXICO
ReadstoLead27114
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$50,000
50,000
50,000
50,000
40,889
40,889
(9,111)
(9,111)
Original
Budget
EXPENDITURES
Current:
Instruction
TotalExpenditures
50,000
50,000
50,000
50,000
50,000
50,000
(9,111)
(9,111)
(9,111)
(9,111)
(9,111)
(9,111)
$(9,111)
9,111
Vol. IV - 189
STATEOFNEWMEXICO
NextGenerationAssessment27185
BudgetedAmounts
Original
Budget
REVENUES
PropertyTaxes
Local&CountyGrant
StateGrant
FederalGrant
ChargesforServices
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
1,878
1,878
1,878
1,878
1,878
1,878
1,878
1,878
1,878
1,878
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
DebtService
Principal
Interest
TotalExpenditures
$1,878
(1,878)
Vol. IV - 190
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
229,754
229,754
229,754
229,754
EXPENDITURES
CapitalOutlay
TotalExpenditures
229,754
229,754
229,754
229,754
Vol. IV - 191
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$182,796
182,796
182,796
182,796
182,112
182,112
(684)
(684)
1,828
411,557
413,385
1,828
411,557
413,385
9,788
9,788
1,828
401,769
403,597
(230,589)
(230,589)
172,324
402,913
DesignatedCash
230,589
230,589
230,589
230,589
(230,589)
(230,589)
172,324
172,324
233,794
406,118
172,324
REVENUES
PropertyTaxes
TotalRevenues
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
Original
Budget
$172,324
(2,366)
$169,958
Vol. IV - 192
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$91,495
91,495
91,495
8,155
99,650
90,406
11,056
101,462
(1,089)
2,901
1,812
915
165,978
166,893
915
174,133
175,048
67,260
67,260
915
106,873
107,788
(75,398)
(75,398)
34,202
109,600
DesignatedCash
75,398
75,398
75,398
75,398
(75,398)
(75,398)
34,202
34,202
62,512
62,512
96,714
96,714
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
EXPENDITURES
Current:
CapitalOutlay
TotalExpenditures
Original
Budget
$34,202
1,988
2,318
$38,508
Vol. IV - 193
STATEOFNEWMEXICO
June30,2015
NameofDepository
USBank
USBank
SecurityType
FNMAPOOLAD8206
FNMAPOOLMA389225DD
CUSIP/Security
Number
31418WDL1
31418DKE1
MaturityDate
10/1/2025
9/1/2021
FairValue
June30,2015
$133,041
738,778
$871,819
TotalCashperScheduleofCashAccounts: $992,967
Vol. IV - 194
STATEOFNEWMEXICO
June30,2015
BankAccountType
CheckingLunchAccount
CheckingWaltonAccount
TotalonDeposit
USBank
$930,357
100
62,510
992,967
ReconcilingItems
(49,463)
943,504
LessAgencyFunds
(1,201)
TotalCash
$942,303
Vol. IV - 195
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Pupil
Transportation
Instructional
Materials
Food
Services
11000
13000
14000
21000
$ 305,241
20,687
1,694
9,474
2,587,312
120,347
24,972
76,741
2,892,553
141,034
26,666
86,215
(2,621,892)
144,353
(29,785)
(101,672)
(10,343)

(11,624)
(71,727)

CashJune30,2015
385,229
29,019
15,042
14,488
CashPerBooks

385,229

29,019
15,042

14,488
(169,122)
$ 216,107
(14,510)
14,509
15,042

14,488
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 196
NonInstruct.
Fund
FederalProjects
Account
FederalDirect
Acccount
Local
Acccount
State
Acccount
PublicSchool
CapitalOutlay
23000
24000
25000
26000
27000
31200
2,321
101,093
3,527
1,495
40,889
229,754
2,321
101,093
3,527
1,495
40,889
229,754
(1,120)
(82,291)
(46,476)
27,674
(796)

(50,000)
7,000
2,111
(229,754)

1,201
3,527
699
1,201

3,527

699
(1,201)

3,527

699
Vol. IV - 197
STATEOFNEWMEXICO
CashReconciliationcontinued
June30,2015
HB33Capital
Improvements
SB9Capital
Improvements
31600
31700
Total
$ 231,429
56,345
624,870
182,112
101,462
3,472,025
413,541
157,807
4,096,895
(9,788)
(1)

(67,260)

(3,247,924)
94,533
403,752
90,547
943,504

CashPerBooks
403,752
90,547
943,504
(1,201)
Cash,June30,2014
Add:
TotalCashAvailable
Less:
CashJune30,2015
$942,303

$ 403,752
10,473
101,020
(174,360)
769,144
Vol. IV - 198
STATEOFNEWMEXICO
June30,2015
CurrentAssets:
Receivables
PrepaidExpenditures
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
$178,265
41,643
7,262
227,170
67,289
(26,078)
41,211
TotalAssets
268,381
DeferredOutflowsPensionrelated
470,252
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
3,927
8,046
11,973
NetPensionLiability
868,975
868,975
TotalLiabilities
880,948
DeferredInflowsPensionrelated
91,913
NETPOSITION
Restricted
41,211
14,069
(289,508)
TotalNetPosition
$(234,228)
Vol. IV - 199
STATEOFNEWMEXICO
ProgramRevenues
Chargesfor
Service
Operating
Grantsand
Contributions
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
Functions/Programs
Instruction
$813,578
126,135
(687,443)
SupportServices:
Students
92,217
16,542
182,754
(92,217)
(16,542)
(182,754)
CentralServices
FoodServices
181,710
147,682
51,367
103,384
15,266
20,303
73,625
(181,710)
(147,682)
(15,798)
(29,759)
$1,589,234
15,266
146,438
73,625
(1,353,905)
Expenses
GeneralRevenues:
PropertyTaxes
$25,798
1,256,562
1,282,360
ChangeinNetPosition
(71,545)
232,182
(394,865)
NetPosition(Deficit),Beginning,asRestated
(162,683)
Netposition(Deficit),Ending
$(234,228)
Vol. IV - 200
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Assignedto:
andOtherPrograms
TotalFundBalance
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$170,076
1,628
4,292
41,626
6,178
$211,702
1,628
4,292
6,178
$2,545
8,029
10,574
1,382
1,382
17
6,161
6,178
1,628
2,910
201,128
201,128
1,628
2,910
$211,702
1,628
4,292
6,178
Vol. IV - 201
IDEAB
Entitlement
24106
Charter
Schools
24146
Center
forTeacher
Excellence
27114
K3Plus
Summer
27166
PublicSchool
PublicOutlay
31200
SB9Capital
Improvements
31700
Total
2,269
178,265
629
7,262
1,350
33,486
41,643
41,626
7,262
629
7,262
1,350
33,486
2,269
268,796
629
629
1,350
1,350
33,486
33,486
3,927
8,046
41,626
53,599
7,262
7,262
2,269
1,628
2,910
2,269
7,262
2,269
201,128
215,197
629
7,262
1,350
33,486
2,269
268,796
Vol. IV - 202
STATEOFNEWMEXICO
June30,2015
$215,197
CapitalAssets
67,289
(26,078)
41,211
470,252
inthefunds.
(91,913)
(868,975)
$(234,228)
Vol. IV - 203
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
StateGrant
FederalGrant
MiscellaneousIncome
TotalRevenues
Operational
11000
Instructional
Materials
14000
Food
Services
21000
TitleI
IASA
24101
$1,256,562

1,256,562
10,245

10,245
20,303
15,266
35,569

19,669

19,669
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
CapitalOutlay
TotalExpenditures
674,181
16,128
19,669
23,924
15,545
163,964
168,095
137,811
15,612

1,199,132

16,128
32,659
32,659

19,669
57,430
(5,883)
2,910
143,698
7,511
$201,128
1,628
2,910
Vol. IV - 204
IDEAB
Entitlement
24106
Charter
School
24146
Center
forTeacher
Excellence
27114
K3Plus
Summer
27166
PublicSchool
PublicOutlay
31200
SB9Capital
Improvements
31700
Total
12,736
12,736
50,000

50,000
33,485

33,485
73,625

73,625
25,798
25,798
1,449,715
52,708
15,266
1,517,689
19,042
22,072
751,092
12,736
12,736
19,042
50,000

50,000

7,777
2,665
971

33,485

73,625
73,625
23,529
23,529
86,660
15,545
171,741
170,760
138,782
48,271
97,154
1,480,005
(19,042)
2,269
37,684
26,304
177,513
7,262
2,269
215,197
Vol. IV - 205
STATEOFNEWMEXICO
$37,684
DepreciationExpense
Changeinlongtermliabilities
(13,458)
(95,771)
$(71,545)
Vol. IV - 206
STATEOFNEWMEXICO
June30,2015

asincurred.CoralCommunityCharterSchoolscapitalizationpolicy(i.e.,thedollarvalueabove
which the asset acquisitions are added to the capital accounts) is $5,000. Coral Community
CharterSchooldoesnotcapitalizeanyinterestwithregardtoitscapitalassets.
with no salvage value. Coral Community Charter School utilizes Internal Revenue Service
5years
Capital assets for Coral Community Charter School are recorded in the Statement of Net
Position.
Pensions. For purposes of measuring the netpension liability, deferred outflows of resources
Vol. IV - 207
STATEOFNEWMEXICO
June30,2015
NOTE2.CAPITALASSETS
follows:
Balance
Balance
Deletions
June30,2015
Furniture,FixturesandEquipment $67,289
67,289
Total
67,289
67,289
(12,620) (13,458)
(26,078)
Total
(12,620) (13,458)
(26,078)
CapitalAssets,Net
$
54,669 (13,458)
41,211
function:
Instruction
Total
$
$
13,458
13,458
NOTE3.COMMITMENTSANDCONTINGENCIES
CoralCommunityCharterSchoolleasedtheircurrentlocationduringthe20142015schoolyear
withathirdpartyvendorandthisleaseconcludedonJune30,2015.Forthe20152016school
year,theCoralFoundationForExcellenceinEducation(theFoundation)purchasedabuilding
fromathirdpartyinJune2015.TheFoundationplanstoleasethisbuildingtoCoralCommunity
Charter School starting with the 20152016 school year. The lease agreement between the
FoundationandtheCoralCommunityCharterSchoolwasenteredintoonJune29,2015.The
termoftheleaseisfromAugust2015July2016.CoralCommunityCharterSchoolcanrenew
theleaseonanannualbasis.
Vol. IV - 208
STATEOFNEWMEXICO
June30,2015
NOTE3.COMMITMENTSANDCONTINGENCIES(CONTINUED)
CoralCommunityCharterSchoolwillleasethefacilitiesunderanannualleasesagreementwith
the Foundation. Rental expenses for the year ended June 30, 2015 were $133,159. Coral
CommunityCharterSchoolsminimumfuturepaymentsonthenewleaseareasfollows:
YearEndingJune30:
2016
2017
Total
157,744
15,000
172,744
Coral Community Charter School has an agreement with the Foundation to lease a building
startinginthe20152016schoolyear.TheFoundationsactivityduringtheyearendingJune30,
2015wasnotsignificantandhasnotbeenpresented.
ThefatheroftheCoralCommunityCharterSchoolbusinessmanagerisemployedbyavendor
of the School who provided various services for the School. Coral Community Charter School
paidthisvendor$28,235forservicesprovidedbythefatherofthebusinessmanager.
Coral Community Charter School and does not include general disclosure information
Department.
Contributions. The contribution requirements of defined benefit plan members and Coral
CommunityCharterSchoolareestablishedinstatestatuteunderChapter10,Article11,NMSA
June 30, 2014, employers contributed 13.15% of employees gross annual salary to the Plan.
$20,000contributed10.10%oftheirgrossannualsalary.
Vol. IV - 209
STATEOFNEWMEXICO
June30,2015
For fiscal year ended June 30, 2015 employers contributed 13.90% and employees earning
$20,000 or less continued to contribute 7.90% and employees earning more than $20,000
contributedanincreasedamountof10.70%oftheirgrossannualsalary.Contributionstothe
pensionplanfromCoralCommunityCharterSchoolwas$94,736fortheyearendedJune30,
2015.
2015, Coral Community Charter School reported a liability of $868,975 for its proportionate
share of the net pension liability. Coral Community Charter School proportion of the net
by Section 221121, NMSA 1978. At June 30, 2014, Coral Community Charter Schools
proportionwas0.01523%,whichwasadecreaseof0.00717%fromitsproportionmeasuredas
ofJune30,2013.
For the year ended June 30, 2015, Coral Community Charter School recognized pension
expense of $190,507. At June 30, 2015, Coral Community Charter School reported deferred
outflowsofresourcesanddeferredinflowsofresourcesrelatedtopensionsfromthefollowing
sources:
ChangesinproportionanddifferencesCoralCommunity
CharterSchoolcontributionsandproportionateshareof
contributions
CoralCommunityCharterSchoolcontributionssubsequentto
themeasurementdate
Total
Deferred
Outflowsof
Resources
$

375,516
Deferred
Inflowsof
Resources
$12,941
78,972
94,736
$470,252
91,913
Vol. IV - 210
STATEOFNEWMEXICO
June30,2015
CoralCommunityCharterSchoolreported$94,736asdeferredoutflowsofresourcesrelatedto
pensions resulting from Coral Community Charter School contributions subsequent to the
measurementdateJune30,2014willberecognizedasareductionofthenetpensionliabilityin
theyearendedJune30,2016.Otheramountsreportedasdeferredoutflowsofresourcesand
deferred inflows of resources related to pensions will be recognized in pension expense as
follows:
YearendedJune30:
2016
2017
2018
2019
Total
$(106,145)
(106,145)
(91,038)
19,725
$(283,603)
SensitivityofCoralCommunityCharterSchoolproportionateshareofthenetpensionliability
to changes in the discount rate. The following table shows the sensitivity of the net pension

1%Decrease
(6.75%)
Coral Community Charter Schools

liability
$1,182,342
Current
Discount
Rate
(7.75%)
868,975
1%Increase
(8.75%)
607,063
Payablestothepensionplan.AtJune30,2015,CoralCommunityCharterSchooldidnotowe
forERBforfiscalyear2015contributions.
NOTE6.RESTATEMENT
forPension,netpositionatJune30,2014wasrestatedintheamountof$(394,865).
Vol. IV - 211
STATEOFNEWMEXICO
June30,2015
Asstatedinfinding2015004,CoralCommunityCharterSchoolhadexpendituresinexcessof
thebudgetinthefollowingfund:
Operational11000(FoodServicesOperations)
$2,707
NOTE8.SUBSEQUENTEVENT
Anewbuilding,purchasedbytheFoundationinJune2015,willbefinancedforapproximately
$1.7millionandwasdeededtotheFoundationinAugust2015.
Vol. IV - 212
Vol. IV - 213
66.54%
207.06%
420
869
2015
2.66%
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%


Pension Liability (Asset) as a Percentage of
Its Covered-Employee Payroll


Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 214
(284)
Total Amount
Deferred
Year
2014 $
(284)
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5

STATE OF NEW MEXICO

June 30, 2015
2015
55
55
2016
-
2017
-
2018
-
2019
-
2020
-
2015
2016
(106)
(106)
(106)
2017
(106)
-
(91)
2018
(91)
-
19
2019
19
-
2020
-

2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$1,223,157
1,223,157
1,253,123
1,253,123
1,256,562
1,256,562
3,439
3,439
697,401
698,628
674,181
24,447
15,000
33,000
140,628
166,831
307,643
6,187
1,366,690
24,376
30,840
173,716
170,858
285,333
12,905
1,396,656
23,924
15,792
163,964
167,667
137,132
15,612
1,198,272
452
15,048
9,752
3,191
148,201
(2,707)
198,384
(143,533)
(143,533)
58,290
201,823
DesignatedCash
143,533
143,533
143,533
143,533
(143,533)
(143,533)
58,290
58,290
143,698
143,698
201,988
201,988
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
CentralServices
TotalExpenditures
Original
Budget
$58,290
(860)
$57,430
Vol. IV - 215
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
10,245
10,245
10,245
10,245
EXPENDITURES
Current:
Instruction
TotalExpenditures
17,756
17,756
16,128
16,128
1,628
1,628
(7,511)
(5,883)
1,628
DesignatedCash
7,511
7,511
(7,511)
(7,511)
(5,883)
(5,883)
7,511
7,511
1,628
1,628
$(5,883)
$(5,883)
Vol. IV - 216
STATEOFNEWMEXICO
FoodServices21000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
16,349
14,927
31,276
20,303
15,265
35,568
3,954
338
4,292
EXPENDITURES
Current:
TotalExpenditures
31,276
31,276
31,276
31,276
4,292
4,292
4,292
4,292
4,292
4,292
Original
Budget
REVENUES
FederalGrant
Miscellaneous
TotalRevenues
$4,292
1
(1,383)
$2,910
Vol. IV - 217
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$14,296
14,296
40,243
40,243
17,803
17,803
(22,440)
(22,440)
Original
Budget
EXPENDITURES
Current:
Instruction
TotalExpenditures
14,296
14,296
40,243
40,243
19,669
19,669
20,574
20,574
(1,866)
(1,866)
(1,866)
(1,866)
(1,866)
(1,866)
$(1,866)
1,866
Vol. IV - 218
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
16,914
16,914
17,366
17,366
452
452
16,914
16,914
12,736
12,736
4,178
4,178
4,630
4,630
4,630
4,630
4,630
4,630
Original
Budget
REVENUES
FederalGrant
TotalRevenues
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
$4,630
(4,630)
Vol. IV - 219
STATEOFNEWMEXICO
CharterSchools24146
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
REVENUES
FederalGrant
TotalRevenues
24,101
24,101
24,101
24,101
EXPENDITURES
24,101
24,101
24,101
24,101
26,304
26,304
50,405
50,405
$24,101
(24,101)
(19,042)
$(19,042)
Vol. IV - 220
STATEOFNEWMEXICO
CenterforTeacherExcellencePED27114
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$50,000
50,000
50,000
50,000
50,650
50,650
650
650
Original
Budget
EXPENDITURES
Current:
SupportServices:
Students
TotalExpenditures
50,000
50,000
50,000
50,000
50,000
50,000
650
650
650
650
650
650
$650
(650)
Vol. IV - 221
STATEOFNEWMEXICO
K3PlusSummer27166
BudgetedAmounts
Original
Budget
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
36,702
36,702
(36,702)
(36,702)
23,369
22,072
1,297
9,617
2,740
976
36,702
7,777
2,665
971
33,485
1,840
75
5
3,217
(33,485)
(33,485)
(33,485)
(33,485)
(33,485)
(33,485)
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
CentralServices
TotalExpenditures
$(33,485)
33,485
Vol. IV - 222
STATEOFNEWMEXICO
BudgetedAmounts
Original
Budget
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
FinalBudget
Actual
Amount
73,625
73,625
73,625
73,625
EXPENDITURES
CapitalOutlay
TotalExpenditures
73,625
73,625
73,625
73,625
Vol. IV - 223
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$27,597
27,597
27,597
27,597
25,798
25,798
(1,799)
(1,799)
Original
Budget
EXPENDITURES
CapitalOutlay
TotalExpenditures
27,597
27,597
27,597
27,597
23,529
23,529
4,068
4,068
2,269
2,269
2,269
2,269
2,269
2,269
$2,269
$2,269
Vol. IV - 224
STATEOFNEWMEXICO
June30,2015
NameofDepository
SecurityType
CUSIP/Security
Number
MaturityDate
FairValue
June30,2015
$
$
UninsuredPublicFunds:
CollateralRequirement:
PledgedCollateralHeldbyPledgingFinancialInstitution:
BalanceOverCollateralized: $
Vol. IV - 225
STATEOFNEWMEXICO
June30,2015
BankAccountType
TotalonDeposit
WellsFargo
$221,291
221,291
ReconcilingItems
(43,026)
178,265
TotalCash
$178,265
Vol. IV - 226
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Instructional
Materials
Food
Services
FederalProjects
Account
11000
14000
21000
24000
$ 115,131
7,511
1,256,562
10,245
35,568
59,270
1,371,693
17,756
35,568
59,270
(1,198,272)
(9,794)
6,449
(16,128)

(31,276)

(32,405)
(19,580)
26,387
CashJune30,2015
170,076
1,628
4,292
33,672
CashPerBooks

170,076

1,628

4,292
(33,672)

31,052
$ 201,128

1,628
(1,382)
2,910
7,262
7,262
Cash,June30,2014
Add:
201415revenues
TotalCashAvailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 227
State
Acccount
PublicSchool
CapitalOutlay
SB9Capital
Improvements
27000
31200
31700
Total
122,642
50,650
73,625
25,798
1,511,718
50,650
73,625
25,798
1,634,360
(83,486)
67,672
(32,836)
(73,625)
(23,529)

(1,458,721)
38,298
2,000
2,269
213,937
(2,000)

2,269
(35,672)
178,265
$178,265

2,269
36,932
215,197
$215,197
Vol. IV - 228
STATEOFNEWMEXICO
June30,2015
ASSETS
CurrentAssets:
Receivables
DuefromAgencyFunds
PrepaidExpenditures
TotalCurrentAssets
NoncurrentAssets:
CapitalAssets
Website
$1,688,895
250,594
70
13,298
1,952,857
3,172,430
5,770,204
34,782
(295,061)
8,682,355
894
TotalAssets
10,636,106
490,588
LIABILITIES
CurrentLiabilities:
AccountsPayable
AccruedLiabilities
19,238
327,424
160,000
506,662
LongTermDebt
NetPensionLiability
10,450,000
4,277,577
14,727,577
TotalLiabilities
15,234,239
452,588
NETPOSITION
Restricted
Unrestricted
(1,927,645)
248,839
(2,881,327)
TotalNetPosition
$(4,560,133)
Vol. IV - 229
STATEOFNEWMEXICO
ProgramRevenues
Chargesfor
Service
Capital
Grantsand
Contributions
Net(Expenses)
Revenuesand
ChangesinNet
Position
159,097
(2,531,041)
Operating
Grantsand
Contributions
Functions/Programs
Instruction
$2,730,593
SupportServices:
Students
Instruction
218,163
52,905
49,458
339,091
(218,163)
(52,905)
(49,458)
(339,091)
170,896
619,042
68,191
277,439
281,147
(170,896)
(619,042)
(68,191)
3,708
1,413,197
597,874
(815,323)
$5,938,975
40,455
440,244
597,874
(4,860,402)
Expenses
CentralServices
Services
40,455
GeneralRevenues:
PropertyTaxes
Interestincome
Miscellaneous
$178,949
3,906,445
126
863,926
4,949,446
ChangeinNetPosition
89,044
Resatement
NetPositionBeginning,restated
(446,783)
(4,202,394)
(4,649,177)
Netposition,Ending
$(4,560,133)
Vol. IV - 230
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernments
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
FundBalances
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
TotalFundBalance
Operational
11000
Student
Transportation
13000
Instructional
Materials
14000
TitleI
IASA
24101
$229,501
86,855
68,091
69,588
122,473
13,298
$434,860
86,855
68,091
$11,263
325,413

336,676
13,298

84,886

86,855

68,091

98,184
86,855
68,091
$434,860
86,855
68,091
Vol. IV - 231
IDEAB
Entitlement
24106
Teacher
Principal
Training
24154
USHHS/CDC
SchoolHealth
24186
2012SB66
StudentLibrary
27107
Technology
forEducation
27117
GOBonds
Instructional
Materials
27171
2,784

5,083

4,822

2,784
5,083
4,822

1,371
1,413

5,083

4,822
2,784
5,083
4,822
2,784
5,083
4,822
Vol. IV - 232
STATEOFNEWMEXICO
June30,2015
ASSETS
AccountsReceivable
DuefromGovernment
DuefromOtherFunds
PrepaidExpenditures
TotalAssets
Liabilities:
AccountsPayable
AccruedExpenditures
DuetoOtherFunds
TotalLiabilities
Next
Generation
Assessments
27185
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Foundation
Total
23,363
1,281,085
1,688,895
111,085

57,232

250,594
122,473
13,298
111,085
80,595
1,281,085
2,075,260

111,085
7,975
640

19,238
327,424
122,403
111,085
8,615
469,065
FundBalances
FundBalance:
Nonspendible:
PrepaidExpenditures
Restrictedfor:
Instruction
CapitalImprovements
Unassigned
13,298

80,595

1,272,470
68,091
86,855
80,595
1,357,356
TotalFundBalance
80,595
1,272,470
1,606,195
111,085
80,595
1,281,085
2,075,260
Vol. IV - 233
STATEOFNEWMEXICO
June30,2015
$1,606,195
OtherAssets
CapitalAssets
894
8,977,416
(295,061)
8,683,249
resourcesand,therefore,andnotreportedinthefunds
LongTermDebt
NetPensionLiability
490,588
(10,610,000)
(4,277,577)
(14,887,577)
Definedbenefitpensionplandeferredinflowsarenotdueandpayable
inthecurrentperiodand,therefore,arenotreportedinthefunds
(452,588)
$(4,560,133)
Vol. IV - 234
STATEOFNEWMEXICO
GovernmentalFunds
Operational
11000
Student
Transportation
13000
Instructional
Materials
14000
$
3,906,445

40,455
69,659
4,016,559

281,147

281,147

47,241

47,241
2,608,189
43,795
207,165
49,363
29,909
301,343
169,560
609,569

277,439

3,975,098

277,439

43,795
41,461
3,708
3,446
41,461
3,708
3,446
56,723
83,147
64,645
$98,184
86,855
68,091
REVENUES
PropertyTaxes
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
Debtservice
Interest
TotalExpenditures
TitleI
IASA
24101
Vol. IV - 235
IDEAB
Entitlement
24106
Teacher
Principal
Training
24154
USHHS/CDC
SchoolHealth
24186
2012SB66
StudentLibrary
27107
Technology
forEducation
27117
GOBonds
Instructional
Materials
27171

91,897

91,897

11,595

11,595

4,822

4,822

3,542

3,542
32,538
11,595
4,822
281
9,609

33,800

3,542

75,947

11,595

4,822

3,542

281
15,950
(281)
15,950
(281)
(15,950)
281
Vol. IV - 236
STATEOFNEWMEXICO
GovernmentalFunds
REVENUES
PropertyTaxes
StateGrant
FederalGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
Next
Generation
Assessments
27185
PublicSchool
CapitalOutlay
31200
SB9Capital
Improvements
31700
Foundation
Total

542,291

542,291
178,949
55,583

234,532

807,096
807,096
178,949
4,836,249
108,314
40,455
876,755
6,040,722
2,701,220
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
CapitalOutlay
Debtservice
Interest
TotalExpenditures

444,340

179,360

19,549

8,336

68,191

216,774
52,905
49,458
335,143
169,560
617,905
277,439
68,191
623,700

444,340

179,360
640,375
736,451
640,375
5,752,670
97,951
55,172
70,645
288,052
97,951
55,172
70,645
288,052
(97,951)
25,423
1,201,825
1,318,143
80,595
1,272,470
1,606,195
Vol. IV - 237
STATEOFNEWMEXICO
$288,052
(37,183)
Expenditurestopurchaseorbuildcapitalassets,payforintereston
debt,andamortizationonlongtermassetsarereportedin
LossonDisposalofAssetsHeldforSale
DepreciationExpense
(12,703)
(149,122)
(161,825)
$89,044
Vol. IV - 238
STATEOFNEWMEXICO
June30,2015
Funds
ASSETS
CashinBank
TotalAssets
LIABILITIES
DuetoGovernmentalFunds
TotalLiabilities
$
$
$(70)
70
$
Vol. IV - 239
STATEOFNEWMEXICO
Balance
July1,2014
Additions
Deductions
$16,657
37,821
(54,478)
$16,657
37,821
(54,478)
LIABILITIES
DuetoGovernmentalFunds
$16,657
37,751
70
(54,478)
(70)
70
TotalLiabilities
$16,657
37,821
(54,478)
ASSETS
CashinBank
TotalAssets
Balance
June30,2015
Vol. IV - 240
STATEOFNEWMEXICO
June30,2015
historicalcost.Contributedassetsarerecordedatthefairmarketvaluesasofthedatereceived.
Additions,improvementsandothercapitaloutlaysthatsignificantlyextendtheusefullifeofan
assetarecapitalized.Othercostsincurredforrepairsandmaintenanceareexpensedasincurred.
CottonwoodClassicalPreparatorySchoolscapitalizationpolicy(i.e.,thedollarvalueabovewhich
the asset acquisitions are added to the capital accounts) is $5,000. Cottonwood Classical
PreparatorySchool(CCPS)doesnotcapitalizeanyinterestwithregardtoitscapitalassets.
withnosalvagevalue.CCPSutilizesInternalRevenueServiceguidelinestoestimatetheuseful
livesoncapitalassetsasfollows:
510years
15years
540years
CapitalassetsforCCPSarerecordedintheStatementofNetPosition.
Pensions.Forpurposesofmeasuringthenetpensionliability,deferredoutflowsofresourcesand
deferredinflowsofresourcesrelatedtopensions,andpensionexpenses,informationaboutthe
Fiduciary Net Position of the New Mexico Educational Retirement Board (ERB) and additions
to/deductions from ERBs Fiduciary Net Position have been determined on the economic
resources measurement focus and accrual basis of accounting. For this purpose, benefit
payments(includingrefundsofemployeecontributions)arerecognizedwhendueandpayable
inaccordancewiththebenefitterms.Investmentsarereportedatfairvalue.
NOTE2.RECEIVABLES
DuefromOtherGovernments:
Operational
$
69,588
IDEABEntitlement
2,784
TeacherPrincipalTraining
5,083
USHHS/CDCSchoolHealth
4,822
111,085
57,232
TotalDuefromOtherGovernments
$
250,594
Vol. IV - 241
STATEOFNEWMEXICO
June30,2015
NOTE3.CAPITALASSETS
Depreciated:
Land
LandImprovements
Total
Total
Total
CapitalAssets,Net
Balance
Deletions
3,167,743
4,687
3,172,430
34,782
5,770,204
5,804,986
(4,305)
(141,634)
(145,939)
8,831,477
(4,197)
(144,925)
(149,122)
(149,122)
Balance
June30,2015
3,167,743
4,687
3,172,430
34,782
5,770,204
5,804,986
(8,502)
(286,559)
(295,061)
8,682,355
functions:
Total
$
$
149,122
149,122
Vol. IV - 242
STATEOFNEWMEXICO
June30,2015
RevenueBondsaresecuredbypledgesofcertainrevenuesandassets.OnDecember1,2012,
Cottonwood Classical Preparatory School, pursuant to a lease purchase agreement with
Cottonwood Classical Foundation, Inc. and indenture of trust, issued its Educational Facility
RevenueBondsSeries2012Aintheaggregateprincipalamountof$10,250,000and$360,000
TaxableEducationalFacilityRevenueBondsSeries2012B.Bondproceedswereusedtoacquire
andrenovatea47,161squarefootcharterschoolfacilitythatwillhouseclassroomsfromsixth
throughtwelfthgrade.CCPSpledges,transfers,andgrantsasecurityinterestinandassignsto
WellsFargoBank,N.A.tosecurethepaymentofleasepaymentsinaccordancewiththeterms
andprovisionsofthelease,allfunds,monies,grants,orotherdistributionsreceivedbytheSchool
fromtheStateofNewMexicowithrespecttoEqualizationGuaranteefunding,StateLeasingor
accountestablishedbyCCPS,butspecificallyexcludingStatefundingundertheCharterSchool
ActwhichisspecificallydedicatedtothepaymentofexpensesoftheCharterSchoolwhichdo
notincludepaymentofamountsdueundertheLeaseandallsuchoperatingexpensesofCCPS
requiredunderStateorfederallawstoproviderequirededucationalprogramexpenditures.
ThetotalbondpayableasofJune30,2015isasfollows:
Series2012AEducationFacilityRevenueBond;
MaturingDecember1,2022
Series2012BTaxableEducationFacilityRevenueBond;
TotalBondPayable
1,200,000
3,220,000
5,830,000
360,000
10,610,000
Vol. IV - 243
STATEOFNEWMEXICO
June30,2015
Theaggregateamountsofprincipalmaturitiesandinterestofbondspayableareasfollows:
2016
2017
2018
2019
2020
20212025
20262030
20312035
20362040
20412043
Total
Principal
160,000
170,000
180,000
190,000
200,000
1,165,000
1,545,000
2,070,000
2,795,000
2,135,000
10,610,000
Interest
640,375
631,575
622,225
612,700
602,725
2,843,525
2,461,475
1,938,088
1,212,187
272,188
11,837,063
Total
800,375
801,575
802,225
802,700
802,725
4,008,525
4,006,475
4,008,088
4,007,187
2,407,188
22,447,063
TherewerenofundsthathadadeficitfundbalanceatJune30,2015.
Asstatedinthefinding2015004,CCPShadexpendedinexcessofthebudget.
StudentTransportationFund
StudentTransportation13000
$(42,535)
CottonwoodClassicalPreparatorySchoolhascreatedaFoundationwhichdonatesvariousfunds
totheschoolandenteredrevenuebondstoconstructabuildingfortheschool.TheFoundation
isconsideredacomponentunitoftheSchoolandispresentedasablendedcomponentunit.
TheDirectorofOperationssonisemployedattheschool.
TheBusinessManageroftheschoolisalsotheCEOoftheVigilGroup.
Vol. IV - 244
STATEOFNEWMEXICO
June30,2015
CottonwoodClassicalPreparatorySchoolanddoesnotincludegeneraldisclosureinformation
Department.
Contributions.ThecontributionrequirementsofdefinedbenefitplanmembersandCottonwood
ClassicalPreparatorySchoolareestablishedinstatestatuteunderChapter10,Article11,NMSA
Employeesearning$20,000orlesscontributed7.90%andemployeesearningmorethan$20,000
employeesearningmorethan$20,000contributedanincreasedamountof10.70%oftheirgross
annualsalary.ContributionstothepensionplanfromCottonwoodClassicalPreparatorySchool
PensionLiabilities,PensionExpense,andDeferredOutflowsofResourcesandDeferredInflows
of Resources Related to Pensions: The total ERB pension liability, net pension liability, and
sensitivity information were based on an annual actuarialvaluation performed as of June 30,
2013.ThetotalERBpensionliabilitywasrolledforwardfromthevaluationdatetothePlanyear
endingJune30,2014,usinggenerallyacceptedactuarialprinciples.Therefore,theemployers
portion was established as of the measurement date June 30, 2014. At June 30, 2015,
CottonwoodClassicalPreparatorySchoolreportedaliabilityof$4,277,577foritsproportionate
shareofthenetpensionliability.CottonwoodClassicalPreparatorySchoolsproportionofthe
netpensionliabilityisbasedontheemployercontributingentityspercentageoftotalemployer
contributionsforthefiscalyearendedJune30,2014.Thecontributionamountsweredefinedby
Section 221121, NMSA 1978. At June 30, 2014, Cottonwood Classical Preparatory Schools
proportion was 0.07497% percent, which was an increase of 0.00369% from its proportion
FortheyearendedJune30,2015,CottonwoodClassicalPreparatorySchoolrecognizedpension
expenseof$355,857.AttheJune30,2015,CottonwoodClassicalPreparatorySchoolreported
deferredoutflowsofresourcesanddeferredinflowsorresourcesrelatedtopensionsfromthe
followingsources:
Vol. IV - 245
STATEOFNEWMEXICO
June30,2015
Deferred
Deferred
Outflowsof
Inflowsof
Resources
Resources
$
63,723



388,865

Changesinproportionanddifferencesbetween
CottonwoodClassicalPreparatorySchoolcontributions
andproportionateshareofcontributions
171,914

CottonwoodClassicalPreparatorySchoolcontributions
318,674

Total
$490,588
452,588
$318,674 reported as deferred outflows of resources related to pensions resulting from

Cottonwood Classical Preparatory School contributions subsequent to the measurement date
June30,2014willberecognizedasareductionofthenetpensionliabilityintheyearendedJune
30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of
resourcesrelatedtopensionswillberecognizedinpensionexpenseasfollows:
YearEndedJune30
2016
2017
2018
2019
Total
59,646
59,646
64,154
97,228
280,674
Vol. IV - 246
STATEOFNEWMEXICO
June30,2015
SensitivityofCottonwoodClassicalPreparatorySchoolsproportionateshareofthenetpension
tablepresentsthe(employers)netpensionliabilityunderthecurrentsinglerateassumption,as
ifitwerecalculatedusingadiscountrateonepercentagepointlower(6.75%)oronepercentage
1%Decrease
(6.75%)
Cottonwood Classical Preparatory

Schools proportionate share of the net
pensionliability
$5,820,140
Current
Discount
Rate
(7.75%)
1%Increase
(8.75%)
4,277,577
2,989,227
Payablestothepensionplan.CottonwoodClassicalPreparatorySchoolaccrued$80,524inERB
benefitsatJune30,2015forteacherswithtenmonthcontracts.
NOTE9.RESTATEMENT
AsaresultofimplementationofGASBStatementNo.68,AccountingandFinancialReportingfor
Pensions,NetPositionatJune30,2014wasrestatedintheamountof$(4,202,394).
Vol. IV - 247
Vol. IV - 248
0.00%
0.00%
2016
0.00%
0.00%
0.00%
2017
0.00%
66.54%

2,067
206.97%
4,278
2015
2.66%



Liability (Asset)
0.00%
0.00%
2018
0.00%
0.00%
0.00%
2019
0.00%
0.00%
0.00%
2020
0.00%

STATE OF NEW MEXICO

Cottonwood Classical Preparatory School
June 30, 2015
0.00%
0.00%
2021
0.00%
0.00%
0.00%
2022
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
2024
0.00%
Vol. IV - 249
281
Total Amount
Deferred
Year
2014 $
281
2015
2016
2017
2018
2019
2020
2021
2022
2023
-
Amortization
Years
5
5
5
5
5
5
5
5
5
5
2016
-
2017
-
2018
-
2019
-
2020
-
2015
60
2016
60
60
2017
60
-
64
2018
64
-
97
2019
97
-
2020
-
2015
272
272


STATE OF NEW MEXICO

Cottonwood Classical Preparatory School
June 30, 2015
2021
2021
-
2022
2022
-
2023
2023
-
2024
2024
-
STATEOFNEWMEXICO
Operational11000
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$3,789,514
3,789,514
3,906,446
31,350
69,892
4,007,688
3,906,445
40,455
71
3,946,971
(1)
9,105
(69,821)
(60,717)
2,479,519
2,668,120
2,608,189
59,931
121,762
32,250
23,500
288,024
155,075
689,384
3,789,514
210,209
50,085
30,279
303,978
166,089
628,974
4,057,734
207,165
49,363
29,909
301,343
164,880
602,986
3,963,835
3,044
722
370
2,635
1,209
25,988
93,899
(50,046)
(16,864)
33,182
(50,046)
(16,864)
33,182
43,425
43,425
(50,046)
26,561
76,607
REVENUES
StateGrant
ChargesforServices
MiscellaneousIncome
TotalRevenues
EXPENDITURES
Current:
Instruction
SupportServices:
Students
Instruction
CentralServices
TotalExpenditures
Original
Budget
$(16,864)
69,588
(11,263)
$41,461
Vol. IV - 250
STATEOFNEWMEXICO
StudentTransportation13000
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$234,904
234,904
234,904
234,904
281,147
281,147
46,243
46,243
Original
Budget
EXPENDITURES
Current:
TotalExpenditures
234,904
234,904
234,904
234,904
277,439
277,439
(42,535)
(42,535)
3,708
3,708
3,708
3,708
83,147
83,147
86,855
86,855
$3,708
$3,708
Vol. IV - 251
STATEOFNEWMEXICO
BudgetedAmounts
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$31,394
31,394
47,241
47,241
47,241
47,241
EXPENDITURES
Current:
Instruction
TotalExpenditures
78,583
78,583
94,430
94,430
43,795
43,795
50,635
50,635
(47,189)
(47,189)
3,446
50,635
(47,189)
(47,189)
3,446
50,635
64,645
64,645
$(47,189)
(47,189)
68,091
115,280
REVENUES
StateGrant
TotalRevenues
$3,446
$3,446
Vol. IV - 252
STATEOFNEWMEXICO
TitleIIASA24101
BudgetedAmounts
FinalBudget
$7,155
7,155
7,226
7,226
(7,226)
(7,226)
EXPENDITURES
Current:
Instruction
TotalExpenditures
7,155
7,155
7,226
7,226
7,226
7,226
REVENUES
FederalGrant
TotalRevenues
Actual
Amount
Variance
Positive
(Negative)
Original
Budget
Vol. IV - 253
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$75,947
75,947
75,947
75,947
102,648
102,648
26,701
26,701
32,538
32,538
32,538
Original
Budget
EXPENDITURES
Current:
Instruction
SupportServices:
Students
TotalExpenditures
9,609
33,800
75,947
9,609
33,800
75,947
9,609
33,800
75,947
26,701
26,701
26,701
26,701
(29,485)
(29,485)
(2,784)
(2,784)
$26,701
(10,751)
$15,950
Vol. IV - 254
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$9,270
9,270
20,515
20,515
16,316
16,316
(4,199)
(4,199)
EXPENDITURES
Current:
Instruction
TotalExpenditures
9,270
9,270
20,515
20,515
11,595
11,595
8,920
8,920
4,721
4,721
4,721
4,721
(9,804)
(9,804)
(5,083)
(5,083)
REVENUES
FederalGrant
TotalRevenues
Original
Budget
$4,721
(4,721)
Vol. IV - 255
STATEOFNEWMEXICO
USHHS/CDCSchoolHealth24186
BudgetedAmounts
Original
Budget
REVENUES
FederalGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
5,000
5,000
(5,000)
(5,000)
EXPENDITURES
Current:
Instruction
TotalExpenditures
5,000
5,000
4,822
4,822
178
178
(4,822)
(4,822)
(4,822)
(4,822)
(4,822)
(4,822)
$(4,822)
4,822
Vol. IV - 256
STATEOFNEWMEXICO
2012SB66StudentLibrary27107
BudgetedAmounts
REVENUES
StateGrant
TotalRevenues
Variance
Positive
(Negative)
Original
Budget
FinalBudget
Actual
Amount
$3,542
3,542
3,542
3,542
3,542
3,542
EXPENDITURES
Current:
SupportServices:
Instruction
TotalExpenditures
3,542
3,542
3,542
3,542
3,542
3,542
Vol. IV - 257
STATEOFNEWMEXICO
TechnologyforEducation27117
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
EXPENDITURES
Current:
Instruction
TotalExpenditures
281
281
(281)
(281)
(281)
281
(281)
281
281
281
562
$(281)
$(281)
Vol. IV - 258
STATEOFNEWMEXICO
GOBondsInstructionalMaterials27171
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
REVENUES
StateGrant
TotalRevenues
21,967
21,967
21,967
21,967
21,967
21,967
21,967
21,967
(21,967)
(21,967)
$21,967
(21,967)
Vol. IV - 259
STATEOFNEWMEXICO
NextGenerationAssessments27185
BudgetedAmounts
Original
Budget
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
REVENUES
StateGrant
TotalRevenues
22,326
22,326
22,326
22,326
22,326
22,326
22,326
22,326
(22,326)
(22,326)
$22,326
(22,326)
Vol. IV - 260
STATEOFNEWMEXICO
BudgetedAmounts
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
444,340
444,340
431,206
431,206
(13,134)
(13,134)
444,340
444,340
444,340
444,340
(13,134)
(13,134)
(13,134)
(13,134)
(97,951)
(97,951)
(111,085)
(111,085)
Original
Budget
REVENUES
StateGrant
TotalRevenues
EXPENDITURES
CapitalOutlay
TotalExpenditures
$(13,134)
111,085
$97,951
Vol. IV - 261
STATEOFNEWMEXICO
BudgetedAmounts
REVENUES
PropertyTaxes
StateGrant
TotalRevenues
FinalBudget
Actual
Amount
Variance
Positive
(Negative)
$180,038
39,120
219,158
180,038
54,547
234,585
176,264
1,036
177,300
(3,774)
(53,511)
(57,285)
Original
Budget
EXPENDITURES
CapitalOutlay
TotalExpenditures
219,158
219,158
260,008
260,008
179,360
179,360
80,648
80,648
(25,423)
(2,060)
23,363
(25,423)
(2,060)
23,363
25,423
25,423
(25,423)
23,363
48,786
$(2,060)
57,232
$55,172
Vol. IV - 262
STATEOFNEWMEXICO
June30,2015
NameofDepository
WellsFargo
WellsFargo
SecurityType
FNMAFNMS
FNMAFNMS
CUSIP/Security
Number
3138W1HG5
3138X9A24
MaturityDate
2/1/2043
7/1/2043
FairValue
June30,2015
$25,223
113,720
$138,943
TotalCashperScheduleofCashAccounts(excludingFoundation): $427,587
BalanceUninsuredandUncollateralizedatJune30,2015: $38,645
Vol. IV - 263
STATEOFNEWMEXICO
June30,2015
BankAccountType
CheckingFoundation
TotalonDeposit
WellsFargo
$427,587
1,281,085
1,708,672
ReconcilingItems
(19,777)
1,688,895
LessAgencyFunds
TotalCash
$1,688,895
Vol. IV - 264
STATEOFNEWMEXICO
CashReconciliation
June30,2015
Operational
Student
Transportation
Instructional
Materials
11000
13000
14000
$ 43,425
83,147
64,645
3,946,971
281,147
47,241
3,990,396
364,294
111,886
(3,963,835)
325,413

(277,439)

(43,795)
CashJune30,2015
351,974
86,855
68,091
CashperBooks
(122,473)
229,501

86,855
68,091
(253,790)
$ 98,184

86,855
68,091
Cash,June30,2014
Add:
201415revenues
Totalcashavailable
Less:
201415expenditures
OutstandingLoans
Vol. IV - 265
Capital
Improvements
SB9
Federal
Flowthrough
State
Flowthrough
PublicSchool
CapitalOutlay
24000
27000
31200
31700
Total
(39,289)
(44,012)
(97,951)
25,423
35,388
118,964
47,835
431,206
177,300
5,050,664
79,675
3,823
333,255
202,723
5,086,052
(92,364)
1,371
(3,823)
(444,340)

(179,360)

(5,004,956)
326,784
(11,318)
(111,085)
23,363
407,880
11,318
111,085

23,363
Add:FoundationCashperBalanceSheetGovernmentalFunds
TotalCashperBooks
(70)
407,810
1,281,085
$1,688,895
11,318
111,085
57,232

80,595
Add:FoundationFundBalanceperBalanceSheetGovernmentalFunds
TotalFundBalance,ModifiedAccrualBasis
(74,155)
333,725
1,272,470
$1,606,195
Vol. IV - 266
Due to file size, Volume 1 through 4 are in this documents. There are an addition 5 through 11
volumes that are available by contacting the office. Please call (505) 476-3800 to request the
additional volumes.

924 - Public Education Department FY2015 Vol 1 To 4 PDF

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Sanjay Bhakta, CPA, CGFM, CFE, CGMA

Deputy State Auditor

State of New Mexico

Deputy Secretary Aguilar, Public Education Department

STATE OF NEW MEXICO

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

Combining Statements of Activities Discretely Presented Component Units ...... Vol. I 78

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

Budget to Actual Statements NonMajor Special Revenue Funds Modified

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

Joint Powers Agreements, Memoranda of Understanding

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

Academy of Trades and Technology ......................................................................................... Vol. III 7 45

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

East Mountain High School ........................................................................................................... Vol. V 60 103

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

STATE OF NEW MEXICO PUBLIC EDUCATION DEPARTMENT

Deputy Secretary, Policy and Program

STATE OF NEW MEXICO

The Department is made up of 2 distinct appropriated entities and 60 discretely presented

STATE OF NEW MEXICO

Departmentwide Financial Statement: The departmentwide financial statements include the

The Departmentwide Statement of Activities reports the educational and educationrelated

STATE OF NEW MEXICO

Reconciliation of Departmentwide Financial Statements to Fund Financial Statements:

STATE OF NEW MEXICO

Budgetary Comparisons: The budgetary comparison statements furnish a budgettoactual

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

Budget adjustment requests that adhere to required operating budget cuts in

STATE OF NEW MEXICO

STATE OF NEW MEXICO

In FY 2011, fourteen additional schools were authorized as statechartered. The fourteen

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

MACCS provides an integrated, inclusive curriculum through handson experiential

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

STATE OF NEW MEXICO

The elected 10member Public Education Commission (Commission) serves in an advisory

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)