Accreditation agency asks questions about UNM’s finances
Higher Learning Commission requests officials share information on state audit
The fallout of the financial troubles of The University of New Mexico’s athletic department continued Wednesday.
The school released a statement acknowledging it received a letter from the Higher Learning Commission inquiring about the state audit of UNM’s finances. The letter, dated Tuesday, requested a brief report from the university regarding the investigation by State Auditor Tim Keller, which has expanded to UNM’s overall financial management practices.
The audit initially began after several stories uncovered a 2015 golf trip to Scotland by members of the athletic department and boosters was paid for by UNM. In June, the university discovered that the athletic department had not collected $432,000 from suite rentals in the renovated Pit since the 2010-11 season.
The commission stated in its letter to UNM interim President Chaouki Abdallah that media coverage regarding the school’s financial mismanagement and information from the state’s Department of Higher Education caught its attention.
“The information received from the New Mexico Department of Higher Education and the information
reported in the media raise concerns regarding the University’s financial oversight; and therefore, concerns regarding the University’s compliance with the Criteria for Accreditation,” wrote Robert Rucker, the commission’s research and advocacy coordinator for Legal and Governmental Affairs.
The commission is seeking “a summary of the basis for the audit, the actions taken by the State Auditor, an overview of any actions that have been taken or will be taken by other state offices, and a summary of the audit’s impact on the University. The University should clearly articulate any corrective actions that have been taken in response to this audit and concerns regarding its financial management.”
The letter requests UNM submit the report by no later than Sept. 14.
In its letter, UNM emphasized the importance of working with the HLC and administrators are collecting the necessary information to meet the deadline. “While it is not uncommon for HLC to request additional information as part of the lengthy accreditation process,” the letter states, “UNM considers a response to this request to be of utmost importance to clarify that the University is financially sound, as shown by all recent independent Universitywide audits, and to alleviate any concerns. “It is expected that the current audit by the State Auditor and report to the HLC will reaffirm the University’s financial health and educational quality.”
The university added that it has spent the past five years preparing for its next evaluation by the commission in March 2019.