N.M. Admin. Code § 5.5.4.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 5.5.4.8 - ADMINISTRATION

A. The commission shall assign a separate fund and organization code for the ELF in an interest-bearing account with the New Mexico state treasurer and the New Mexico department of finance and administration.

B. At the beginning of each fiscal year, the commission shall budget funds available in the ELF for expenditure.

C. Upon receipt of a list of proposals approved by the commission for awards, commission staff shall implement the appropriate purchase documents and vouchers to distribute awarded funds to the appropriate institutions.

D. Interest on unexpended and unencumbered balances shall be credited to the ELF, and budgeted in the following fiscal year for expenditure.

E. Institutions shall refund to the commission any balances remaining in project accounts at the end of the fiscal year(s) for which ELF funds were awarded.

N.M. Admin. Code § 5.5.4.8

9/30/96; Recompiled 10/31/01