N.M. Admin. Code § 5.3.11.6

Current through Register Vol. 35, No. 21, November 5, 2024

Section 5.3.11.6 - OBJECTIVE

The objective of 5.3.11 NMAC is to:

A. establish regulations and procedures for the fiscal oversight of institutions designated in Article 12, Section 11 of the Constitution of New Mexico and any other public higher education institutions operating within and receiving financial support from the state of New Mexico;

B. develop a system that measures, monitors, and verifies the fiscal health of institutions and ensures governing boards continually monitor the overall fiscal health of their institutions;

C. provide fiscal oversight of institutions through accountability reporting; and

D. establish procedures to redress problems of finance or poor fiscal health of institutions through use of the enhanced fiscal oversight program (EFOP).

N.M. Admin. Code § 5.3.11.6

Adopted by New Mexico Register, Volume XXIX, Issue 23, December 11, 2018, eff. 12/11/2018