Title: A
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
Donor restricted net assets: - Net assets subject to donor-imposed stipulations that
they be maintained permanently by the Organization. Generally, the donors of these
assets permit the Organization to use all or part of the income earned on any related
investments for general or specific purposes. At this time Organization does not have
any permanently net assets.
Support and Revenue Recognition In accordance with F ASB ASC 958, Not-for - Profit
Entities, contributions received are recorded as unrestricted, temporarily restricted or
permanently restricted support, depending on the existence and/or nature of any donor
restrictions.
The Organization's grant and contract revenues form the Department of Health are
received as reimbursement for services provided and/or expenses paid. Other revenues
received during June 30, 2023 were either used during the year or not subject to time or
use restrictions from the revenue sources.
Cash and Cash Equivalents: The Organization includes a11 cash accounts that are not
subject to withdrawal restrictions or penalties and all highly liquid investments with
original maturies of three months or less as cash or cash equivalents.
Property and Equipment: Furniture and equipment are recorded at cost. Donated assets re
recoded as an increase in unrestricted net assets, unless specially restricted by the donor,
at the estimated fair value of the asset at the time of donation. The Board adopted a policy
to capitalize items that are non-expendable personal property with a unit cost of more
than $5,000 and a useful life of more than a year. Furniture, equipment and vehicles are
deemed to have useful lives ranging form three to five years. Depreciation is computed
using the straight-line method over the estimated useful lives of the respective assets.
Depreciation for the year ended 6/30/23 was $10,485.
Contributed Services: The accompanying financial statements were prepared in
conformity with F ASB ASC 958 states that contributed services must create or enhance a
non-financial asset or provide a specialized skill in order for the value of the contributed
services to be included in the financial statements. Contributed services received and Recognized in the financial statements was O for the year ended 6/30/23 . Other services
provided by individuals, who volunteer their time and perform a variety of tasks that
enrich the Organization, but, do not meet the criteria for recognition as contributed
services under FASB 958 were not included in the financial statements.
Allocation of Expenses: The costs of providing the various programs and activities have
been summarized on a functional basis in the statement of activities. Accordingly, certain
costs have been allocated among the programs and supporting services benefitted.
Income Taxes: Alianza of New Mexico is a not-for-profit organization that is exempt from
income taxes under Section 501(c) (3) of the Internal Revenue Code.
Fair Value of Financial Instruments: The FASB issued ASC 825, Financial Instruments,
effective for fiscal years beginning after November 15, 2007. The Organization meets all
of the criteria set forth in FASB ASC 825-10-50-3 for optional disclosure of the
requirement in the 'General" subsection of this Accounting Standard Codification (ASC).
Budgets and Budgetary Accounting: Budgets for the programs administered by the
Organization are prepared by the staff and approved by the grantor agency. The grantor
agency also approves budget adjustments before implementation.
Title: B
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
Concentration of Credit Risk: All of the Organization's receivables relate to payments
for the state of New Mexico. Historically the Organization has not experienced losses
associated with these receivables. The Organization's maximum risk of accounting loss
Related to these receivables is limited to the amounts presented in these financial
statements.
The Organization maintains cash balances at a financial institution located in New
Mexico. The Federal Deposit Insurance Corporation (FDIC) insures account balances for
amounts up to $250,000. The organization had 50,809 in excess of the insured limit
during the year ended June 30, 2023, and did not experience any losses in relation to
uninsured balances during the year. As of June 30, 2023 cash was held in the following accounts:
Pioneer Operating Account $292,096
Total Cash $292,096
Title: C
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
As of June 30, 2022 the grants receivable for the Organization consisted of:
State of New Mexico $ 163,983
Total Grants Receivable $ 163,983
Title: D
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
At June 30, 2023 government reimbursement programs (State of New Mexico) accounted
for 97 .69% of the Organization's revenue and 100% of its receivables. Reduction or
interruption of these funds is not expected. However, if a reduction or interruption of
funding occurred it would have a material impact on the operations of the Organization.
Title: E
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
Full and part-time employees are eligible to accrue leave time. The accrual begins
immediately upon employment. Full-time accrue a total of ten hours per month or 120
hours per year. Part-time employees, who work at least twenty hours per week, accrue
leave time at half the full-time rate. At June 30, 2024, the Organization recorded
$579 compensated absences as accrued vacation.
Title: F
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
FASB issued ASC 820, Fair Value Measurements, for fiscal years after November 15,
2007. The adoption of this standard had no material effect on the Organization's financial
position, change in net assets or cash flows. Inputs refer to the assumptions that participants would use in pricing an asset or liability.
observable inputs are those that reflect pricing based on market data obtained from
independent sources. Unobservable inputs are those that reflect the reporting entities'
own assumptions about pricing market participants would use, based on the best
information available in the circumstances.
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for
'identical assets and liabilities (level 1 measurements) and the lowest priority to
unobservable measurements. The three levels of fair value hierarchy under FASB ASC
820 are as follows:
Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) in active
markets for identical assets or liabilities in active markets that the
Organization has the ability to access at the measurement date.
Level 2 Inputs other than quoted prices included within Level 1, which are observable
either directly or indirectly. Level 2 inputs include:
Quoted prices for similar assets or liabilities in active markets:
Quoted prices for identical or similar assets not in active market:
Inputs other than quoted prices that are observable for the asset or liability
Inputs that are derived principally from or corroborated by observable market
Dates by correlation or other means
If the asset or liability has a specified (contractual) term, the Level 2 input must
Be observable for substantially the full tem1 of the asset or liability.
Level 3 Inputs to the valuation methodology are unobservable and significant to the fair
value measurement
The asset's or liability's fair value measurement level within the fair value hierarchy
is based on the lowest level of any input that is significant to the fair value
measurement. Valuation techniques used should maximize the use of observable inputs
and minimize the use of unobservable inputs.
Following is the description of the evaluation methodologies used at June 30, 2017.
Mutual and pooled funds: Valued at the net asset value (NAV) of shares of securities held
by the Organization at year end. The method described above may produce a fair value calculation that may not be
indicative of net realizable value or reflective of future fair value. Furthermore, while
the Organization believes its valuation methods are appropriate and consistent with other
market participants, the use of different methodologies or assumptions to determine the
fair value of certain financial instruments could result in different fair market value at the
reporting date.
F ASB ASC 820, Fair Value Measurements, establishes a framework for measuring fair
value. That framework provides a fair value hierarchy that prioritizes the inputs to
valuation techniques used to measure fair value into three levels.
Title: G
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
The Organization is exposed to various risks ofloss related to: torts, theft of, damage to
and destruction of assets, errors and omissions, injuries to employees and clients, and
natural disasters. The Organization carries insurance through a commercial carrier to
insure against potential loss and claims. There have been no claims for the year ended
June 30, 2023.
The Organization is subject to audit of their records by the State of New Mexico
Department of Health and Finance and Administration and the State Auditor for a
period of three years for the date of final payment under its contracts with the Department
of Health. The State maintains the right to audit billings before and after payment and to
recover payments deemed to be excessive or illegal. As of the date of these statements,
management is unaware of any billing that would be so classified. The remaining lease commitment for both leases is as follows:
Fiscal Year ended:
Total Lease commitment
2024 40,800
2025 30,600
Total Lease Commitment $ 71,400
Title: H
Accounting Policies: The accompanying financial statements included in this submission have been prepared on the accrual basis of accounting and accordingly relect all significant receivables, payables and other liabilities.
De Minimis Rate Used: N
Rate Explanation: Auditee worked with providers to creating a Cost Allocation Plan that was approved by New Mexico Mortgage Finance Authority for ESG, HOPWA and Home ARP. Funds provided from New Mexico Depatment of Health were determined by the funder.
There are no subsequent events until the issuing of the reports