Cobre School District Hires Outside Firm to Manage Finances

Interim superintendent says district's finance director will not return next year after being placed on leave

Apr. 20, 2026 at 6:03am

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A photorealistic studio still life featuring a stack of accounting ledgers, a calculator, and a pen arranged on a clean, monochromatic background, symbolizing the financial challenges facing the Cobre School District.A minimalist still life captures the financial complexities facing the Cobre School District as it works to resolve long-standing audit issues.San Lorenzo Today

The Cobre Board of Education has approved a $437,500 contract with Vertex Education to provide fiscal services for the district, after Finance Director Frank Ryan was placed on administrative leave. Interim Superintendent Randall Piper said the contractors will work with existing staff and help the district address audit issues dating back to 2017. The Public Education Department has warned the district that it may withhold funding if progress is not made on resolving the financial problems.

Why it matters

The Cobre School District has fallen behind on audits and is facing potential funding sanctions from the state if it does not get its finances in order. Bringing in an outside firm to manage the district's finances is an attempt to avoid further penalties and get the district back on track.

The details

The 15-month contract with Vertex Education will cost the district $29,167 per month. Interim Superintendent Randall Piper said the contractors will work with existing staff and help the district address audit issues dating back to 2017, which he said would be too much for one person to handle. The Public Education Department has warned the district that it may withhold up to 7% of the district's funding if sufficient progress is not made.

  • On April 10, an email was sent to district staff informing them that Finance Director Frank Ryan would not be returning next year.
  • On April 19, the Cobre Board of Education held a special meeting to approve the contract with Vertex Education.
  • The contract with Vertex Education will run from April 15, 2026 to June 30, 2027.

The players

Frank Ryan

The former finance director for the Cobre School District, who was placed on administrative leave and will not be returning to the district next year.

Randall Piper

The interim superintendent of the Cobre School District, who recommended hiring Vertex Education to manage the district's finances.

Vertex Education

An outside firm that has been hired by the Cobre School District to provide fiscal services and help the district address its financial issues.

Janelle Taylor Garcia

The communications manager for the New Mexico Public Education Department, which has warned the Cobre School District that it may withhold funding if the district does not make sufficient progress on its financial problems.

Sara Cordova

The director of the School Budget Bureau at the New Mexico Public Education Department, who met with the Cobre School District to discuss the financial issues.

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What they’re saying

“Conversations with the public ed department even this morning was we needed to hire a contractor — it was basically nonnegotiable.”

— Randall Piper, Interim Superintendent

“PED expects the district to take immediate steps to acquire qualified governmental accounting support, including but not limited to the retention of a contractor or other appropriate additional staffing mechanisms.”

— Janelle Taylor Garcia, Communications Manager, New Mexico Public Education Department

What’s next

The Cobre Board of Education will hold its next regular meeting on April 20, where a representative from Vertex Education will be present.

The takeaway

The Cobre School District's financial troubles have reached a critical point, forcing the district to bring in an outside firm to manage its finances and address long-standing audit issues. This move highlights the challenges facing many school districts in New Mexico and the importance of strong financial management to avoid potential funding sanctions from the state.