Albuquerque, NM (KKOB) –The State of New Mexico’s office of the State Auditor conducted a special state audit and found Mora County failed to properly keep track of more than $3 million in interest earned on state disaster relief loans. The interest came from $41.16 million in loans. The audit found Mora County repeatedly bypassed procurement requirements and used public funds of over $168,000 on renovating the privately-owned historic Chief Theater. That renovation was found to be waste and abuse of public funds. The audit found that the interest earnings were not separated from the general fund and weren’t clearly recorded or tracked in county financial systems. State Auditor Joseph Maestas alleges this could’ve jeopardized FEMA reimbursement eligibility and raises concerns about possible unallowable uses of funds. The audit covered the period from January 1st, 2020 through May 1st of 2025.
