Deming Public Schools is set to enhance its financial management practices following a recent audit that highlighted both strengths and areas for improvement. During the March 20, 2025, Zoom meeting, the district's financial team presented a comprehensive overview of its financial statements, revealing a significant increase in the general operating fund's assets, which have grown from $8.8 million five years ago to nearly $31 million today.

The audit, conducted under government auditing standards, identified a total of three findings, including a material weakness related to the accounting for bond proceeds. This oversight, attributed to a misunderstanding in the reporting process, has since been corrected. The district's management expressed confidence in their financial practices and emphasized their commitment to addressing these issues promptly.

Additionally, the audit revealed a pension liability of $95 million and a retiree health care liability of $12 million, underscoring the challenges posed by underfunded state retirement plans. The district is required to account for these liabilities in its financial statements, which adds complexity to its financial management.

The meeting also addressed the district's reliance on federal funding, with $20.3 million in federal awards reported. This funding is subject to additional audits, ensuring compliance with various federal and state regulations. The district's financial team is actively working to streamline its processes and improve record-keeping to enhance compliance.

Overall, the audit findings serve as a catalyst for Deming Public Schools to refine its financial strategies and ensure responsible stewardship of taxpayer dollars. As the district prepares for the upcoming budget season, it remains focused on maintaining transparency and accountability in its financial operations.