Man Writing on Paper

ALBUQUERQUE (BNM) - The Baptist Convention of New Mexico received a “clean” audit report on its 2019 finances.

Loftis and Lovato Group conducted the audit and presented its report to the board’s Property/Finance Committee and then to the full board on Monday, July 20. The board met that day in a hybrid fashion, with some members meeting in-person and others joining in remotely.

Alex Gurule of LLG  presented the company’s findings to those at the in-person meeting. Nick Loftis usually makes the presentation, but participated remotely because he had been exposed to the COVID-19 coronavirus.

Gurule explained to board members that the auditors’ goal is to “obtain reasonable assurance [that] financial statements are free from material misstatement.” Auditors review internal financial controls “for purposes of designing audit procedures,” Gurule explained. But “designing, implementing and monitoring internal financial controls over financial reporting” are the responsibility of BCNM management, he said. 

After their audit of BCNM’s financial reports and records for 2019, LLG offered an “unmodified ‘clean’ opinion on [the] 2019 financial statements,” Gurule said. That opinion is the “highest level of assurance auditors can provide,” he said.

LLG said that the company encountered no disagreements with management and no difficulties performing the audit. They reported at the close of 2019 the BCNM had $7,670,000 in assets, $1,075,000 in liabilities, and reported 74 percent of revenues were spent on program services.

Kevin Parker is editor of the Baptist New Mexican news journal and, news and information outlets for the Baptist Convention of New Mexico.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.