N.M. Admin. Code § 5.3.6.9

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

Section 5.3.6.9 - HIGHER EDUCATION ENDOWMENT COMMITTEE

The committee is composed of the secretaries of higher education, economic development and finance and administration or their designees.

A. Additional ex-officio members of the committee may be appointed by the department pursuant to policies and procedures set forth by the committee. Ex-officio members will serve only in an advisory capacity and shall not make any vote or otherwise determine the outcome of any proposal submitted to the committee. The advisory members shall be composed of:

(1)two representatives of the council of university presidents, consisting of one person representing the research institutions and one person representing the comprehensive institutions;

(2) a representative of New Mexico independent community colleges;

(3) a representative of the New Mexico association of community colleges; and

(4)other representatives as appointed by the department.

B. The responsibilities of the committee shall include:

(1) review proposals submitted to the committee for sufficiency, quality and merit;

(2) determine whether the proposals and award determinations meet endowment purposes;

(3) determine whether the endowment funds are being distributed pursuant to the provisions of this section;

(4) recommend ways to support or change the endowment purposes award and distribution processes;

(5) make recommendations to the department for the purpose of distribution of endowment funds; and

(6) give advice or other assistance to the department as requested.

C. The committee shall meet no less than twice per year to review proposals and make award determinations.

N.M. Admin. Code § 5.3.6.9

Adopted by New Mexico Register, Volume XXVI, Issue 19, October 15, 2015, eff. 10/15/2015