Finance staff presented October month-end financials: revenues received YTD $29,798,371.06; expenditures about 29.66% of original appropriation; and an insurance fund balance of negative $763,595.77 that finance says may change after the FY2025 audit by Brown Edwards is finalized.

The Albuquerque Public Schools Audit Committee on Jan. 27 heard a status update on district and Doran Community Charter Schools external audits for the fiscal year ending June 30, 2025, and voted to convene an executive session to discuss the federal single-audit exit conference and limited personnel matters.

Interim CFO Pat Moore reported auditors completed field work for FY25 and said the district remains on track for an audit delivery in November; staff stressed many figures shown are preliminary unaudited July snapshots and that FY26 certified annual report (CAR) work continues toward the Sept. 15 filing deadline.

Finance staff told the council that FEMA reimbursements for Blue Heron Park and other grants boosted the beginning fund balance, the city met its 20% contingency target and is creating a capital reserve; auditors’ issuance is pending and staff plans electronic purchase-order processing (Tyler).

Finance staff told council the draft 2023–24 audit has arrived and presented a new revenue summary showing roughly $900,690 more revenue than budgeted — driven largely by a $400,000 CDCR payment — while expenses remain under analysis.

At a June 3 study session the administration said preliminary FY24 work shows about a $530,000 surplus and that $510,000 the city had subsidized for Brownfield debt service may no longer be needed in FY27, pending confirmation next week; audits for FY24 and FY25 remain in progress.

County finance reported the FY24 audit is near completion and the FY25 audit team has issued a request list of roughly 100 items, two‑thirds of which have been provided. Finance also reported cash and investment positions, a $2.7 million transportation grant advance, and multiple grant reimbursement activities including event center and NMDLT and R

Audit shows JLDC's net assets rose by $663,000 due to new loan issuance.

The board approved March financial statements and heard that two material weaknesses in internal controls remain after remediation steps; staff described an accounting infrastructure reset and steps to eliminate remaining issues before the next audit.