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Sat April 27, 2013
NMMI Severs Ties With Alumni Association
The New Mexico Military Institute has severed ties to its alumni association over its failure to meet financial reporting standards.
The Roswell Daily Record reports that the school made the decision this week to end the 50-year relationship with the nonprofit group. The school plans to establish its own alumni office on campus.
NMMI spokesman Carl Hansen says the board of regents did due diligence. The board told the association in February that it had 60 days to provide audited financial statements or face termination.
Regent president Stephen Paternoster says the association failed to maintain an acceptable financial accounting system or provide the requested information.
Alumni Association executive director Jim Lowe was not available for comment.
School officials say NMMI plans to reach out to all 20,000 alumni as it forms the new office.
Information from: Roswell Daily Record, http://www.roswell-record.com
Copyright 2013 The Associated Press.