Subject: File No. S7-15-09
From: Richard C Kristof
Affiliation: Director of Financial Services, City of Rio Rancho

September 3, 2009

Submitting financial information within 120 days.

In the State of New Mexico the City's audit is required to be reveiwed by the State Auditor's Office prior to release for publication. Although the audit would be completed in time to meet the 120 requirement, the State Auditor's Office review takes nearly 30 to 45 days and longer, making it impossible for New Mexico entities to meet the standard.