Statewide Financial Reporting & Accountability Bureau

Statewide Financial Reporting & Accountability Bureau

The Statewide Financial Reporting & Accountability Bureau is responsible for producing accurate, timely, and reliable financial information for the State of New Mexico. The Bureau oversees statewide financial reporting, accounting compliance, and internal control accountability to ensure transparency, consistency, and adherence to state and federal requirements.

The Bureau establishes and enforces uniform accounting practices, reviews and approves agency accounting activity in the statewide financial system, and evaluates internal controls to reduce risk and prevent errors or noncompliance. It prepares interim and annual statewide financial reports, including the State’s annual financial statements, supports the annual audit process, and assists agencies in resolving accounting and financial issues. The Bureau also prepares the Statewide Cost Allocation Plan to support federal reporting and reimbursement requirements.