News

Posted: March 22, 2019

A Near Perfect Audit

The 900-page annual audit of APS's $1.3 billion budget found only two minor paperwork errors.

The Albuquerque Public Schools Board of Education gleefully approved the district's annual audit on Wednesday, March 20, after learning that an independent accounting firm found only two minor errors.

State law requires an annual audit of the $1.3 billion APS budget made up of several funds including operational, capital, instructional materials, transportation, food services, athletics, and enterprise. The 900-page audit reviewed accounting practices at all 142 APS schools and dozens of departments as well as the non-profit APS Education Foundation and 25 charter schools.

In all, the audit resulted in 107 findings, but all but two were related to charter schools. APS authorized charter schools are responsible for their budgets, though the district has financial oversight.

One of the APS findings had to do with accrual. The second had to do with capital assets. Both were considered process errors.

"APS leadership stresses internal controls and processes that assure that finances are handled properly. We follow state statutes, regulations, and best practices," said Ben Lubkeman, executive director of accounting. "Our processes work because we have highly trained, very capable, professional employees."

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