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County Treasurer’s Office Receives Clean Audit Results


Just over a year from taking office, Treasurer Nancy Bearce announces the Treasurer’s Office accomplishment of a fully compliant and clean internal audit completed in January 2018.

Local accounting company, REDW, conducted the internal audit using selected processes of the county’s Investment Policy and found the Bernalillo County Treasurer’s Office to be in full compliance with established policies and laws.

The following internal procedures were examined:

  • Monthly, quarterly and annual investment reports with required policy information.
  • Listing of authorized financial institutions on transparency portal.
  • Monthly custodial reports with required policy information.
  • Investment purchases and trades conducted in accordance with policy.
  • Investments aligned with authorized investment types.
  • Investment portfolio diversification in accordance with policy limits.
  • Conduct Standards followed as related to the Gift Act and disclosure of conflicts of interest.

“This audit reflects the strides the Bernalillo County Treasurer’s Office makes every day to ensure that all applicable rules and regulations are followed,” says Bernalillo County Treasurer Nancy Bearce. “The proper and transparent investment of taxpayer dollars is a primary concern of our office.”

As a result of the testing REDW did not identify any reportable observations.

In January of 2018, the audit testing by REDW was performed. Final approval by the county audit committee was received in July.

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