Judy Scharmer: The Art of Accounting

by Todd Fuqua

Judy Scharmer (MBA 02, BBA 87), who is retiring from her position this summer as the chief financial officer at the New Mexico Military Institute (NMMI) in Roswell, New Mexico, has worked hard to help ensure the institute’s financial future.

With her career at NMMI coming to an end, she’s ready to embark on another adventure in another area that’s brought her success: fine art.

When Judy wasn’t behind a desk crunching numbers at the Institute, she was in the studio, using her talent to create oil paintings. She’s ready to merge her two areas of expertise (financial management and fine art) into a second career as the chief financial officer at the Georgia O’Keeffe Museum in Santa Fe, New Mexico.

“I am retiring from NMMI, but I am not retiring from exploring new adventures,” Judy said. “I can’t think of a better place to learn and be inspired to continue working on my art.”

While she’s spent most of her career at NMMI, Judy started in public service on the ENMU-Roswell campus, where she also began her academic career.

“I am so grateful for ENMU and ENMU-Roswell. I would not be where I am today without both campuses,” Judy explained. “As I was a first-generation college student, ENMU provided me the opportunity to earn my bachelor’s in accounting.”

Judy’s first job after graduating wasn’t with ENMU-Roswell. She was initially a CPA working for a national firm representing oil and gas companies, farmers, the Mescalero Apache Tribe and NMMI.

“That’s how I became interested in the Institute,” Judy said. “Their accounting structure was so clean, and they had a great process. As soon as there was an opening, I jumped at it.”

That opportunity, however, didn’t present itself until she finished her MBA while working full-time for the ENMU-Roswell Business Office and taking courses for five years. But once she joined the ranks at the prestigious military school, she knew the time spent getting there was worth it.

“I was impressed with the mission, what this school does for young men and women,” Judy said. “The education and opportunity for leadership is part of this structure.”

Judy said, “NMMI is the fourth-oldest institute of higher learning in New Mexico; it may be a military school, but it also has a small-school atmosphere that makes everyone feel personally invested in its success.”

“I have the same feeling with those I graduated with at ENMU,” she added. “My best friend and ENMU roommate (Karen Lush, BS 87) is still my best friend, 40 years later.

“I am a strong proponent for going on and furthering one’s education,” Judy said. “It is very gratifying to know that more than 90% of NMMI grads continue with their education. I’ve observed that transformation as the former students grow from children to adults.

Judy’s job at NMMI is an important one, as the very foundation of the Institute requires a steady flow of funding and a balanced budget.

“Fiscal soundness comes from leveraging every dollar available from varying sources and allocating those resources to the institutional priorities,” Judy said. “I like to simplify the process by saying the strategic plan drives the budget. The budget does not drive the strategic plan.”

Judy has worked hard to create a nest egg for the institute that would cover any shortfalls, but the COVID-19 pandemic pushed NMMI’s budget to the limit.

“We had built a healthy reserve for that ‘rainy day,’ but my colleagues and I had no idea that ‘rainy day’ was going to be a year-long pandemic,” Judy said. “Between the cash reserves and funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, we have been able to survive the financial challenge.”

When balancing the budget, Judy must consider the Institute’s operational needs, construction projects and reserves. Planning for the future and growing a campus can mean saying “no” to many requests.

“NMMI is 130 years old, which creates significant building and infrastructure challenges. Planning for that funding does not happen overnight,” Judy said. “It takes a systematic, steady approach to save funds. I feel rewarded when I walk through one of the renovated old buildings.”

Of course, you don’t just have to take Judy’s word for it when it comes to her job. Maj. Ma Eva Heacox (BBA 08), an internal auditor at the Institute, had glowing things to say about her colleague.

“It is not by accident that NMMI has accomplished much and remains fiscally sound. Judy’s stewardship of funds has been vital,” Maj. Heacox wrote in an email to Institute staff commemorating Judy’s retirement. “Col. Scharmer sets a great example. When she gives you advice, I recommend you take it.”

When Judy is not balancing NMMI’s budget and ensuring its financial future is secure, this alumna spends time painting. She has painted the NMMI holiday card for the past five years.

“I simply enjoy painting,” Judy said. “Painting is inherently solitary. However, I never feel alone while painting in my studio. I become completely engrossed in the conversation between myself and the canvas with the story that I am sharing through composition, brush strokes and colors.”

Judy, inspired by her mother’s artistic abilities with watercolors, taught herself oil painting.

“Life provides us so much beauty in so many ways,” she said. “I hope my paintings can ‘speak’ a positive feeling as creating it has done for me.”

With her time at NMMI nearing an end, she can look back with satisfaction on her career and her ability to leave a tangible legacy.

“I want to allow someone else to have that same opportunity,” Judy said. “I am also thankful to ENMU. If I can be a model for someone and show you can attend ENMU and have a progressive career afterward, that’s important.”