New Mexico’s State Auditor, Brian Colón, recently shed light on the dire financial situation facing the state, calling it a “crisis.” In an interview with KRQE News 13, Colón explained that the state’s accounting practices were outdated and in need of urgent reform. This has resulted in a lack of transparency and accountability, making it difficult to track where taxpayer dollars are being spent.
Colón emphasized that the current system is unable to provide real-time financial data, hindering the state’s ability to make informed decisions. He pointed out that the COVID-19 pandemic has only exacerbated the financial challenges facing New Mexico, making it even more crucial to modernize the state’s accounting processes.
The State Auditor’s office is working to address these issues by implementing new software to streamline financial reporting and improve transparency. Colón stressed the importance of implementing these changes quickly to ensure that taxpayer dollars are being managed efficiently and effectively.
Overall, Colón’s comments highlight the urgent need for reform in New Mexico’s accounting practices in order to address the state’s financial crisis and ensure greater accountability and transparency in government spending.
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