The document provides an overview and highlights of the FY2021 findings report from the New Mexico Office of the State Auditor, which audited 500 state agencies and found strong financial reporting overall but common issues with procurement, revenues, and lack of internal controls. It also details the top ten findings across agency types and shows that the Special Investigations Division referred 44% of cases in FY2020 to independent auditors, resulting in 50 findings.
Pwc 2015 Technology Sector Sec Comment Letter TrendsPwC
PwC's technology industry publication provides a comprehensive analysis of recent SEC staff comments and disclosures to assist you in understanding the key trends relevant to companies in the technology sector.
Presentation Scoreboard Launch_29 March 2022.pptxOECDregions
he COVID-19 crisis caused profound disruptions in the global economy, with SMEs and entrepreneurs, particularly hard hit. Swift measures implemented by governments and public financial institutions provided a crucial lifeline for liquidity-strapped SMEs. The 10th edition of Financing SMEs and Entrepreneurs 2022: An OECD Scoreboard sheds light on the impacts of the crisis on SME finance, tracking the latest developments in debt, equity, asset-based finance, and framework conditions, along with recent policy developments for 48 countries around the world. It shows that lending continued to flow to SMEs during the pandemic, with unprecedented growth in outstanding SME loans. What is more, credit conditions relaxed significantly: interest rates registered record lows, interest rate spreads narrowed considerably, and collateral requirements declined in most Scoreboard countries. In contrast, alternative sources of finance such as leasing and factoring declined significantly, in part because of the large uptake of credit. Evidence on equity finance shows a resilient venture capital sector, with some fragility in early-stage finance. The thematic chapter of this report assesses the evolution of SME financing support during the crisis, from the rescue to recovery phases. It documents a fall in the level of SME-related support in national recovery packages compared to earlier rescue measures.
Data Digest #9: Vietnam Stock Market: Embracing New Normal amidst COVID!FiinGroup JSC
COVID-related impacts on the Value could be somehow predictable. In this Report, we conduct an in-depth analysis on factors determining SUPPLY in correlation with DEMAND, instead of purely analyzing corporate fundamentals like before. Under the current circumstance, factors determining DEMAND or affecting money flow and investor sentiment, in our view, are the most important and need taking into serious consideration.
We are trying to make a plenty of data-driven comparisons on impacts of different COVID waves (the first in Q1-2020 and the fourth now) to support you in having assessments on your own. Accordingly, this Report aims to give in-depth analysis and data-driven findings on which sectors or companies could be beneficiaries from the pandemic, especially once the “Embracing the Covid-19” strategy is confirmed.
Download our full report: https://bit.ly/FiinPro-Digest-9-EN
Performance budgeting in the OECD: Highlights from the OECD 2011/2012 PB surv...OECD Governance
This presentation was made by Lisa Von Trapp, OECD, at the 10th OECD-Asian Senior Budget Officials Annual Meeting held in Bangkok, Thailand, on 18-19 December 2014.
Managing Government Balance Sheet: a Focus on Public Assets - Manal Fouad, IMFOECD Governance
This presentation was made by Manal Fouad, IMF, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019
Pwc 2015 Technology Sector Sec Comment Letter TrendsPwC
PwC's technology industry publication provides a comprehensive analysis of recent SEC staff comments and disclosures to assist you in understanding the key trends relevant to companies in the technology sector.
Presentation Scoreboard Launch_29 March 2022.pptxOECDregions
he COVID-19 crisis caused profound disruptions in the global economy, with SMEs and entrepreneurs, particularly hard hit. Swift measures implemented by governments and public financial institutions provided a crucial lifeline for liquidity-strapped SMEs. The 10th edition of Financing SMEs and Entrepreneurs 2022: An OECD Scoreboard sheds light on the impacts of the crisis on SME finance, tracking the latest developments in debt, equity, asset-based finance, and framework conditions, along with recent policy developments for 48 countries around the world. It shows that lending continued to flow to SMEs during the pandemic, with unprecedented growth in outstanding SME loans. What is more, credit conditions relaxed significantly: interest rates registered record lows, interest rate spreads narrowed considerably, and collateral requirements declined in most Scoreboard countries. In contrast, alternative sources of finance such as leasing and factoring declined significantly, in part because of the large uptake of credit. Evidence on equity finance shows a resilient venture capital sector, with some fragility in early-stage finance. The thematic chapter of this report assesses the evolution of SME financing support during the crisis, from the rescue to recovery phases. It documents a fall in the level of SME-related support in national recovery packages compared to earlier rescue measures.
Data Digest #9: Vietnam Stock Market: Embracing New Normal amidst COVID!FiinGroup JSC
COVID-related impacts on the Value could be somehow predictable. In this Report, we conduct an in-depth analysis on factors determining SUPPLY in correlation with DEMAND, instead of purely analyzing corporate fundamentals like before. Under the current circumstance, factors determining DEMAND or affecting money flow and investor sentiment, in our view, are the most important and need taking into serious consideration.
We are trying to make a plenty of data-driven comparisons on impacts of different COVID waves (the first in Q1-2020 and the fourth now) to support you in having assessments on your own. Accordingly, this Report aims to give in-depth analysis and data-driven findings on which sectors or companies could be beneficiaries from the pandemic, especially once the “Embracing the Covid-19” strategy is confirmed.
Download our full report: https://bit.ly/FiinPro-Digest-9-EN
Performance budgeting in the OECD: Highlights from the OECD 2011/2012 PB surv...OECD Governance
This presentation was made by Lisa Von Trapp, OECD, at the 10th OECD-Asian Senior Budget Officials Annual Meeting held in Bangkok, Thailand, on 18-19 December 2014.
Managing Government Balance Sheet: a Focus on Public Assets - Manal Fouad, IMFOECD Governance
This presentation was made by Manal Fouad, IMF, at the 19th OECD Senior Financial Management and Reporting Officials Symposium held at the OECD Conference Centre, Paris, on 4-5 March 2019
Employment tax compliance across the states in 2018Debera Salam, CPP
Ernst & Young LLP aired a webcast on June 5, 2018 that explored state and local trends in payroll tax. Here you can download the slides from that webcast and view and webcast polling results.
Trade facilitation in Ukraine 2022: Customs procedures, problems, and business expectations during wartime
according to the results of the VII wave of Ukrainian exporters and importers annual survey
Here are some financial reporting links to help you see the Financial status of the State of Vermont.
https://auditor.vermont.gov/about-us/strategic-plans-and-performance-reports
The State Budget Links:
https://auditor.vermont.gov/about-us/budget
This is Uber's first investor presentation (for Q4 2019) after going public in 2019.
We're compiling some of the investor presentations for technology start-ups. The purpose is to better understand the business as a point of reference or comparison.
I do not own this deck or any of its contents. The original deck can be found on Uber's Investor Relations webpage as part of its required reporting.
All levels of government in the USA are facing challenges due to COVID19. This presentation looks at key areas including what needs to happen as part of transforming government.
Employment tax compliance across the states in 2018Debera Salam, CPP
Ernst & Young LLP aired a webcast on June 5, 2018 that explored state and local trends in payroll tax. Here you can download the slides from that webcast and view and webcast polling results.
Trade facilitation in Ukraine 2022: Customs procedures, problems, and business expectations during wartime
according to the results of the VII wave of Ukrainian exporters and importers annual survey
Here are some financial reporting links to help you see the Financial status of the State of Vermont.
https://auditor.vermont.gov/about-us/strategic-plans-and-performance-reports
The State Budget Links:
https://auditor.vermont.gov/about-us/budget
This is Uber's first investor presentation (for Q4 2019) after going public in 2019.
We're compiling some of the investor presentations for technology start-ups. The purpose is to better understand the business as a point of reference or comparison.
I do not own this deck or any of its contents. The original deck can be found on Uber's Investor Relations webpage as part of its required reporting.
All levels of government in the USA are facing challenges due to COVID19. This presentation looks at key areas including what needs to happen as part of transforming government.
Canadian Immigration Tracker March 2024 - Key SlidesAndrew Griffith
Highlights
Permanent Residents decrease along with percentage of TR2PR decline to 52 percent of all Permanent Residents.
March asylum claim data not issued as of May 27 (unusually late). Irregular arrivals remain very small.
Study permit applications experiencing sharp decrease as a result of announced caps over 50 percent compared to February.
Citizenship numbers remain stable.
Slide 3 has the overall numbers and change.
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Up the Ratios Bylaws - a Comprehensive Process of Our Organizationuptheratios
Up the Ratios is a non-profit organization dedicated to bridging the gap in STEM education for underprivileged students by providing free, high-quality learning opportunities in robotics and other STEM fields. Our mission is to empower the next generation of innovators, thinkers, and problem-solvers by offering a range of educational programs that foster curiosity, creativity, and critical thinking.
At Up the Ratios, we believe that every student, regardless of their socio-economic background, should have access to the tools and knowledge needed to succeed in today's technology-driven world. To achieve this, we host a variety of free classes, workshops, summer camps, and live lectures tailored to students from underserved communities. Our programs are designed to be engaging and hands-on, allowing students to explore the exciting world of robotics and STEM through practical, real-world applications.
Our free classes cover fundamental concepts in robotics, coding, and engineering, providing students with a strong foundation in these critical areas. Through our interactive workshops, students can dive deeper into specific topics, working on projects that challenge them to apply what they've learned and think creatively. Our summer camps offer an immersive experience where students can collaborate on larger projects, develop their teamwork skills, and gain confidence in their abilities.
In addition to our local programs, Up the Ratios is committed to making a global impact. We take donations of new and gently used robotics parts, which we then distribute to students and educational institutions in other countries. These donations help ensure that young learners worldwide have the resources they need to explore and excel in STEM fields. By supporting education in this way, we aim to nurture a global community of future leaders and innovators.
Our live lectures feature guest speakers from various STEM disciplines, including engineers, scientists, and industry professionals who share their knowledge and experiences with our students. These lectures provide valuable insights into potential career paths and inspire students to pursue their passions in STEM.
Up the Ratios relies on the generosity of donors and volunteers to continue our work. Contributions of time, expertise, and financial support are crucial to sustaining our programs and expanding our reach. Whether you're an individual passionate about education, a professional in the STEM field, or a company looking to give back to the community, there are many ways to get involved and make a difference.
We are proud of the positive impact we've had on the lives of countless students, many of whom have gone on to pursue higher education and careers in STEM. By providing these young minds with the tools and opportunities they need to succeed, we are not only changing their futures but also contributing to the advancement of technology and innovation on a broader scale.
1. FY2021 FINDINGS
REPORT OVERVIEW*
ACCOUNTABILITY, TRANSPARENCY, AND
EXCELLENCE
Elena Tercero, CPA, CGFM, CGMA
Audit Manager
Laura Wade, CPA, CFE
Audit Manager
Monique Hurtado, MBA
Staff Auditor
*FY2021 Report Not Final. The information presented is subject to change
2. FY2021 GAO Findings Report Highlights
The objective of the report
is to serve as a source of
information and instrument
of transparency concerning
the audit findings of
statewide agencies, subject
to the audit act, for
FY2021.
*Data presented is subject to change upon release of
the final FY2021 Findings Report
3. 3
*As April 12, 2022: 500
agencies received full
financial audits for
FY2021; substantially
all of which were
conducted by IPAs
FY2021 Governmental Agency Audit Snapshot
11
11
17
29
30
44
79
84
95
100
0 20 40 60 80 100 120
REGIONAL EDUCATIONAL COOPERATIVES
HOSPITALS AND SPECIAL DISTRICTS
INDEPENDENT HOUSING AUTHORITIES
COURTS AND DISTRICT ATTORNEYS
COUNTIES
HIGHER EDUCATION INSTITUTIONS
MUNICIPALITIES
OTHER
STATE AGENCIES
SCHOOLS
FY2021 Audited Agencies by Agency Type*
4. 4
Statistically, New Mexico
audited agencies’ financial
reporting health is strong.
96 percent of agencies in
scope of the report
received unmodified
opinions, suggestive of
conformity in maintaining
financial statements free
from material error and
may be relied upon.
Strong Financial Health
5. 5
Findings help organizations identify
what changes are needed to make
the operation of an agency more
effective, efficient, equitable,
transparent, and as accountable.
Fy2021TopTen Findings
19
20
32
36
39
46
59
67
75
81
0 10 20 30 40 50 60 70 80 90
PROCUREMENT
REVENUES AND RECEIVABLES
FINANCIAL REPORTING
CAPITAL ASSETS
CASH AND INVESTMENTS
BUDGETARY COMPLIANCE
PAYROLL AND RELATED LIABILITIES
GRANT COMPLIANCE
STATE LAW COMPLIANCE - OTHER
LACK OF POLICIES, PROCEDURES OR INTERNAL
CONTROLS
FY2021 Top Ten Findings*
6. 6
Fy2021TopTen Findings -
Lack of Policies, procedures or internal controls
Agency Finding Count
Counties 4
Higher Education Institutions 5
Municipalities 15
Other 4
Schools 25
State Agencies 28
Grand Total 81
7. 7
Fy2021TopTen Findings
State Law Compliance - Other
Agency Finding Count
Counties 3
Courts 6
Higher Education Institutions 2
Municipalities 15
Regional Educational Cooperatives 1
Schools 33
Special Districts 2
State Agencies 13
Grand Total 75
8. 8
Fy2021TopTen Findings
Grant Compliance
Agency Finding Type
Counties 2
Higher Education Institutions 13
Hospitals or Special Hospital Districts 1
Independent Housing Authorities 1
Municipalities 15
Other 2
Regional Educational Cooperatives 1
Schools 11
State Agencies 21
Grand Total 67
9. 9
Three –Year Comparative
Special Investigations Division
(SID) reviews hundreds of
complaints annually.
In some instances, a single
examination may incorporate
numerous complaints/reports of
waste, fraud, and abuse.
FY2020 Special Investigations Referral Snapshot
10. 10
SID Cases Referred and
Resulting Findings
In 2020, 44% of SID cases
were referred to IPAs.
As a result of the SID referrals
to the IPA 50 findings were
identified.
FY2020 Special Investigations Referral Snapshot
11. Reports may be made anonymously by submitting
a compliant through our online portal at
www.osafraud.org or by calling 1-866-OSA-FRAUD
(1-866-672-3728).
You may also speak to an investigator by calling
505-476-3800.
You may write to the office at:
New Mexico Office of the State Auditor
2540 Camino Edward Ortiz, Suite A
Santa Fe, NM 87505
Submitting A Report Or Complaint
Allegations Of GovernmentalWaste, Fraud, And Abuse
Disclaimer: *Data presented may be subject to change upon release of the final FY2021 Findings Report later this year.
The intent of this report is to provide high-level data and statistical evidence on the outcomes of the audits performed for FY2021 in accordance with the vision and purpose of the OSA and the Government Accountability Office (GAO) to bring accountability, transparency, and excellence to state government.
The material used to compile this report was primarily derived from the outcomes of the most current audit reports of New Mexico state agencies and local public bodies available as of April 2022 for Fiscal Year 2021. In total, for FY2021, this report evaluated 500 complete and released audit reports.
The scope of this report is focused on the state and local agencies that received full financial audits and is not inclusive of reports from special audits, or other engagements contemplated by the Audit Rule, AUPs or financial certifications from local public bodies under the tiered-system of reporting, or the New Mexico ACFR.
Information compiled within this report is based exclusively on the 500 agencies that received full financial audits for FY2021; substantially all of which were conducted by Independent Public Accountants (IPAs) under the direct oversight authority of the OSA. The chart in Figure 1 details the count of agencies who received a full financial audit for FY2021 categorized by agency type.
IPAs conduct substantially all of audits under the oversight of the OSA due to finite resources. The OSA maintains its regulatory role to ensure the work performed by the IPA is done according to professional standards. The OSA reviews reports issued by IPAs for quality prior to release. Opinions and findings expressed by the IPA are based on their professional judgement and are not deemed correct or incorrect by the OSA.
Agency reference of Other represent: Councils of Government, Mutual Domestic Water Associations, Special Districts, Workforce Boards, Water and Natural Gas Associations, Soil and Water Conservation Districts, Public Improvement Districts, Irrigation Districts and Tax Increment Development Districts.
The concluding opinion issued by an auditor is determined following test work of an agency’s financial statements. The issuance of an unmodified opinion suggests the financial statements materially represent the financial condition of the agency in accordance with applicable financial reporting framework whereas the issuance of a modified opinion suggests the financial statements were not prepared or presented fairly in all material aspects and typically reflected as a qualified opinion, an adverse opinion, and/or a disclaimer of opinion. Auditors may also express multiple opinions, meaning different opinions on varied aspects of the financial statements exist.
Modified opinions as described may suggest misstatements are material, but not pervasive; are both material and pervasive; or financial information provided is insufficient and therefore an opinion cannot be appropriately rendered, respectively.
While we all strive for an audit with zero findings, it’s important to remember that they are not meant to serve as a means for ridicule or to discredit an agency. Rather, their purpose is to review past events with a vision toward improvement. Findings are often the most accessible tool an organization has they can use to highlight and advocate for changes to policies, procedures, internal controls, or organizational structures.
Important to note: Top ten findings are listed in categories developed by the OSA for this report and account solely for findings originating in FY2021 and do not include repeat findings from prior years.
In some instances, an agency receiving an unmodified opinion may also receive an evaluation that delivers no findings. This is the best-case scenario for an agency signifying a clean bill of health.
A clean bill of health is what agencies should strive toward. It suggests the agency presented its financial statements fairly and it accurately characterizes the financial condition of the agency while contemporaneously indicating no identifiable deficiencies or issues were noted.
For State agencies a common theme is related to small equipment under $5,000. These items aren’t tracked as assets from an Audit Rule perspective, however State issued laptops, cell phones, iPads, etc still need to have a tracking mechanism in place for the agency to account for the small equipment, especially in times of telework. In order to properly track and account for these items, a policy should be put in place so that the item is checked out to the employee and periodic confirmation is done to ensure that the employee maintains control of the small equipment. Employee turnover can be one of the most missed opportunities to update the master tracking sheet.
For School’s a common theme was not conducting an inventory count of assets with a cost greater than $5,000.
This SID Data is from the FY2020 Findings Report which is Final and publicly available on the OSA Website.
A new addition to the findings report is data collected from the Special Investigations Division. The SID handles hundreds of complaints each year related to allegations of governmental fraud, waste and abuse.
The complaints received are instrumental the OSA’s overall impact. Fact-finding procedures are often broad, complaints received resulting in open examinations allow us to narrow our focus to specifics for more in-depth test work as part of the annual audit.
An example of the benefit is: if the OSA receives two complaints on internal control concerns and upon the IPA’s additional test work a larger issue is confirmed the IPA can note the issue as pervasive. This provides management more information on gaps that must be filled within the organization, allowing for implementation of greater risk mitigation practices.
This data is really neat, and in 2020 it was the first time the OSA collected this data. In 2020, 44% of SID cases were referred to IPAs. An example of the benefit is as follows: an IPA can perform additional test work as part of the annual audit, or a separately designated engagement related to a complaint or transaction to determine if there is a more pervasive underlying issue. This provides management more information on gaps that must be filled within the organization, allowing for implementation of greater risk mitigation practices. As a result of the SID referrals to the IPA 50 findings were identified.
One of the most tried and true methods of combating waste, fraud, and abuse is by taking a more proactive approach to accountability and shift away from a reactive approach as much as possible. You can help the OSA by submitting complaints of governmental waste, fraud, and abuse to our office.
You can submit a complaint by calling, writing, or visiting us online.