New Mexico Statutes Chapter 22. Public Schools § 22-8-12.3. Local school board finance subcommittee; audit committee; membership; duties

(1) make recommendations to the local school board in the following areas:

(2) serve as an external monitoring committee on budget and other financial matters.

(1) evaluate the request for proposal for annual financial audit services;

(2) recommend the selection of the financial auditor;

(3) attend the entrance and exit conferences for annual and special audits;

(4) meet with external financial auditors at least monthly after audit field work begins until the conclusion of the audit;

(5) be accessible to the external financial auditors as requested to facilitate communication with the board and the superintendent;

(6) track and report progress on the status of the most recent audit findings and advise the local school board on policy changes needed to address audit findings;

(7) provide other advice and assistance as requested by the local school board; and

(8) be subject to the same requirements regarding the confidentiality of audit information as those imposed upon the local school board by the Audit Act  1 and rules of the state auditor.