Today State Auditor Hector Balderas released a report saying nearly 90 state agencies have failed to submit compliance audits as required by law. The total amount of dollars that hasn't been audited according to a list I received is $1,177,233,118.00. From a press release sent out by the Office of the State Auditor:
“Over one billion dollars has been received by these governmental agencies at risk. This figure is even more alarming when considering that a special audit conducted by my office found that $3.3 million was embezzled from the Jemez Mountain School District over a period of seven years. During most of that time the District failed to submit audits. Now, all these agencies now have been put on notice that they will be held to a higher standard of accountability." -Hector Balderas, State Auditor
There are 87 agencies on this list. Some of them are small school districts, small villages, housing authorities and other municipalities.
Balderas says it's usually a sign of potential abuse and fraud when an agency fails to submit it's yearly compliance audit.
Balderas says he's proposing a law that would stop legislative funding of agencies that fail to submit their audits.
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jeremyjojola.com
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