ALBUQUERQUE, N.M. (AP) — New Mexico State Auditor Hector Balderas says an annual audit has found that the Bernalillo County Treasurer’s Office broke state law and violated the county’s investment policy.
Balderas announced the findings Tuesday. He says significant violations and deficiencies were revealed in the office’s handling of millions of dollars in security purchases and the management of investment liquidity.
The treasurer’s office is also accused of failing to comply with state laws and the county investment policy when holding and documenting meetings.
The treasurer’s office disputes many of the findings.
Balderas says the county should take immediate steps to restore public confidence.
The treasurer’s office is also the target of a special audit by Baldera’s office and the focus of an inquiry by the State Securities Division.