Jemez Mountains Electric Cooperative Inc., Forensic Audit Report to be Presented
ESPAÑOLA, N.M., August 12, 2022 – The Dawson Forensic Group out of Lubbock, Texas, will present findings of the forensic audit of Jemez Mountains Electric Cooperative, Inc., at a Special Board Meeting of the JMEC board of trustees on Thursday, August 18, 2022, at 1 p.m. Members are encouraged to attend this Special Board Meeting which will be held in the board room of the JMEC headquarters building, 19365 S.R. 84/285, Hernandez, New Mexico.
Launched in April of this year, member input informed the forensic investigation and internal controls scope. As previously reported, the audit scope included all topics that were received from members that met the guidelines – i.e., submitted topics should be practice focused and have some form of supporting documentation – as well as issues submitted by the audit committee and board of trustees.
The audit scope was divided into two tracks:
Forensic Investigation
- Solar projects: Cuba and Alcalde
- Former executives - process for separation-from-service payments
Internal control consultation
- New headquarters building construction process and accounting
- Capital credits allocations, retirements, overall accounting
- Credit card usage and accounting process
- Policy / bylaw review
The audit report and recommended corrective actions will be made available to members and the general public through the JMEC website as soon as reasonably possible upon completion of the audit and pending legal review of any potential or actual findings.