Mesalands board approves annual audit

The Mesalands Community College board of trustees on Feb. 19 approved its annual audit in which the auditor said the college’s financial status is “pretty good.”

Martin Mathisen of the Atkinson accounting firm in Albuquerque gave the audit report by teleconference during the board’s meeting. Mathisen had planned to present the report in person, but a snowstorm in Edgewood that day as he was en route prompted him to turn back.

Mathisen said the college’s ratio of current assets versus current liabilities was 10-to-1, which he described as “very good,” with almost no debt.

“Mesalands is running a tight ship for the year we just audited,” he said.

Mathisen said a recent law in which future pensions and retirement benefits must be accounted for in the audit caused the college to be in a negative net position.

Answering a question from college president John Groesbeck, Mathisen said Mesalands’ negative net position was significantly better than New Mexico Tech’s and New Mexico Highlands’ as an example.

“It makes us not look as pretty,” Groesbeck said of the negative net position. “That is not money that in any way, shape or form we have to pay out now. It’s something everyone is booking, and it won’t be paid out for many years and not at once.”

Mathisen acknowledged without the pension and retirement benefits, Mesalands’ financial situation sits at a net positive and it is not over budget.

“The financial status is pretty good,” he said.

Mathisen said the college had reduced its audit findings, which are considered minor problems, from seven to four in one year, and all but one of the previous year’s findings had been resolved.

“The culture at Mesalands Community College has addressed these findings and resolved them,” he said. “These are very good.”

In other business:

• After an executive session, the board approved a proposal to draft a new contract template for salaried college employees for the next fiscal year by March or April.

• Aaron Kennedy, vice president of student affairs, gave the fall enrollment report. The college’s fall headcount rose to 1,068, an increase of 6 percent over the previous fall. Fall credit hours rose to 6,200, an increase of nearly 2 percent over the previous year. Kennedy said Mesalands has seen large growth in part-time enrollment but wants more robust growth in full-time enrollment.

• Groesbeck announced he purchased for the college a 2014 Buick Verano for $5,000. It will be used as part of the college’s pool of vehicles and will be needed as a backup when its lease on a minivan ends in July.

• The board approved a 2019-2020 academic calendar that had no major changes from the previous year.