.....Advertisement.....
.....Advertisement.....

Funny business at NMFA

-A A +A
By Hal Rhodes

 Ten members of the 11-member New Mexico Finance Authority board are appointed by the governor. Four of them are members of Gov. Susana Martinez’s own cabinet. The Authority’s CEO, Rick May, served in her cabinet until assuming his NMFA post nearly a year ago.
 So you might think the Martinez administration would have had its ducks in a row last week, when NMFA board members met, not once but twice, to deal with evidence that a former agency controller had fraudulently concocted the 2011 financial reports of the Finance Authority, which loans millions of dollars to state entities and schools for capital equipment and infrastructure.
Those meetings came in the wake of news reports that Moody’s Investor Service and Standard & Poor’s were conducting reviews of NMFA, citing “weak internal controls” at NMFA.
Reviews of this sort have been known to increase a state’s interest rates when it borrows.
 In short, the stakes are high. Yet the ducks were in disarray last week as the governor’s NMFA board members were seen quite publicly to be bumping into themselves like Keystone Cops of yore.


If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
info
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:



Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday