N.M. Admin. Code § 5.3.4.12

Current through Register Vol. 35, No. 17, September 10, 2024

Section 5.3.4.12 - BUDGET ADJUSTMENT REQUESTS

A. The executive director will approve budget revisions meeting the tests of paragraphs 12.3.2 and 12.3.3 [now Paragraphs (2) and (3) of Subsection C of 5.3.4.12 NMAC] without action by the commission. He will use his discretion regarding a revision falling under paragraph 12.3.4 [now Paragraph (4) of Subsection C of 5.3.4.12 NMAC]; he may approve it if he finds it to be in the best interests of the institution and the state, or he may hold it and refer it to the next meeting of the commission for decision.

B. After a budget revision has been approved by the executive director of the commission, it will be transmitted for approval by the budget division of the department of finance and administration.

C. The following principles will govern commission on higher education approval of budget revisions:

(1) Budget adjustment requests must be approved by the institution's governing board before it is submitted to the commission for approval.

(2) Institutions may expect automatic approval where a requested increase in restricted expenditures in an item subject to budgetary control is accompanied by an increase in restricted income for that item sufficient to cover the increased expenditure.

(3) Budget revisions involving simply the budgeting of a major capital outlay project following approval by the commission on higher education, the board of finance when appropriate, and the letting of the contract, or involving the budgeting of receipts for capital outlay following action or approval of the commission on higher education and the board of finance, will be automatically approved.

(4) Budget revisions other than those covered by paragraphs 12.3.2 and 12.3.3 [now Paragraphs (2) and (3) of Subsection C of 5.3.4.12 NMAC] will be subjected to a more detailed review by the commissions staff.

N.M. Admin. Code § 5.3.4.12

9/21/84, 12/31/98; Recompiled 10/31/01