N.M. Admin. Code § 2.60.8.10

Current through Register Vol. 36, No. 1, January 14, 2025

Section 2.60.8.10 - ELECTRONIC FUND TRANSFERS

A. Public bodies requesting authorization for use of electronic fund transfers must submit to the directors of the financial control division of the department of finance and administration and the board a letter explaining the reason for the use of electronic fund transfers and the fund for which it is to be used. Public bodies may only initiate electronic fund transfers after receiving written authorization by the financial control division of the department of finance and administration.

B. Electronic fund transfers can only occur after notification of the state treasurer's office of the amount of the transfer

C. The state treasurer and each public body is responsible for the tracking of and the accounting for all electronic fund transfers. The reconciliation process is the responsibility of the public body and the financial control division of the department of finance and administration.

N.M. Admin. Code § 2.60.8.10

2.60.8.10 NMAC - N, 8-31-2000

Amended by New Mexico Register, Volume XXVI, Issue 15, August 14, 2015, eff. 8/14/2015