reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 2 - AUDITS OF GOVERNMENTAL ENTITIES › Part 3 - BUDGET CERTIFICATION OF LOCAL PUBLIC BODIES › Section 2.2.3.9 - NON-COMPLIANCE BY LOCAL PUBLIC BODIES

Current through Register Vol. 35, No. 13, July 16, 2024
If the local public body does not comply with this rule to
				  bring its annual audit(s) into compliance with the audit rule as it pertains to
				  timeliness of submission, the local public body may only receive conditional
				  budget certification and final budget certification shall be withheld until the
				  corrective action plan process set forth in Subsection E of
				  2.2.3.8
				  NMAC has been completed to the satisfaction of the local government division
				  unless there are other issues which may necessitate conditional budget
				  certification. In addition, the local government division may provide
				  information regarding audits not in compliance with the audit rule as it
				  pertains to timeliness of submission, to any funding entity, including but not
				  limited to the legislature or the community development block grant council.
				  The local government division will take measures to ensure that enforcement of
				  the rule does not hinder the delivery of financial resources in emergency
				  situations, conditions or events.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
General Services Department, Administrative Services
				  Division.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule applies to all state government agencies as
				  defined in the "Audit Act," Section
				  12-6-1
				  NMSA 1978.
A. The term "agency" is
				intended to be all-inclusive as used in the Audit Act, Section
				12-6-2
				NMSA 1978.
B. Fixed assets
				purchased or owned by agencies are included under the definition regardless of
				the method of acquisition or source of the funds used for purchased
				assets.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section 12 -6-10 NMSA 1978 directs the general services
				  department to promulgate regulations to state agencies for the accounting and
				  control of fixed assets owned by government agencies.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
Effective December 31, 2019, unless a later date is cited at
				  the end of a section or paragraph.
Compiler's note: The words or paragraph, above, are no
					 longer applicable. Later dates are now cited only at the end of sections, in
					 the history notes appearing in brackets.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The objective of
				Section 2.20.1 NMAC is to establish standards for the accounting for and the
				controlling of the fixed assets acquired and owned by state agencies as defined
				under article 2, and to define a uniform system for the classification of such
				assets.
B. To accomplish this,
				subsequent sections of this rule describe the procedures for the acquisition of
				fixed assets, the methods for assigning values to acquired assets (valuation),
				the methods of depreciating fixed assets whether required or optional, the
				establishment of internal controls on fixed assets, the procedures for
				conducting the annual inventory of fixed assets, and the allowable methods for
				the disposition of fixed assets.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
"Agency"
means any governmental entity as defined in Section
				13-6-2
				NMSA 1978. This definition includes:
(1) any
				department, institution, board, bureau, court, commission, district or
				committee of the government of the state;
(2) district courts, magistrate courts,
				district attorneys;
(3) charitable
				institutions for which appropriations are made by the legislature;
(4) every political subdivision of the state,
				created under general or special act which receives or expends public money
				from whatever source derived, including but not limited to counties, county
				institutions, boards, bureaus or commissions, municipalities; drainage,
				conservancy, irrigation or other special districts;
(5) every office or officer of any of these
				organizations.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.8 - FIXED ASSET ACCOUNTING SYSTEM

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Agencies should implement systematic and well-documented methods for accounting
				for their fixed assets. A computerized system is recommended, with appropriate
				controls on access and authorization of transactions.
B. The information to be recorded and
				maintained on its fixed assets, must include at a minimum the following:
(1) agency name or commonly used initials
				used to identify the agency;
(2)
				fixed asset number or fixed asset number plus component number;
(3) a description using words meaningful for
				identification;
(4) location,
				specifically a building and room number. If the asset is movable, the name and
				location of the fixed asset coordinator should be used;
(5) manufacturer name (NOT the vendor's name,
				unless vendor is the manufacturer);
(6) model number or model name;
(7) serial number, or vehicle identification
				number (VIN) for vehicles in agency's use & possession. If the fixed asset
				has no serial number, e.g., a custom-built asset, absence should be
				acknowledged by coding this as "none";
(8) estimated useful life or units expected
				to be produced;
(9) date acquired
				(month and year);
(10) cost
				(according to the valuation methods described in Section
				2.20.1.10
				NMAC;
(11) fund and organization
				that purchased the asset, or to which it was transferred.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.11 - GENERAL ACCOUNTING PROCEDURES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Property, and equipment acquired by
				general, special revenue, and capital projects funds are brought under
				accounting control by the creation of a "general fixed asset account group." In
				accordance with generally accepted accounting principles, general fixed assets
				are recorded at acquisition cost. If the cost of fixed assets was not recorded
				when the assets were acquired and is unknown when accounting control over the
				assets is established, it is acceptable to record them at estimated cost. The
				offset to the fixed asset accounts is the set of equity accounts that indicate
				the sources from which the fixed assets were acquired.
B. Internal service funds account for all
				fixed assets similar to private sector business enterprises. That is, fixed
				assets are used to generate revenues to be used in their operations; therefore,
				they are accounted for in the internal service fund in which they reside. Fixed
				assets are depreciated based on their cost and expected service life.
				Depreciation methodologies and charges to depreciation expense should be
				consistent with generally accepted accounting principles.
C. Fixed assets in nonexpendable trust funds
				are accounted for directly in their respective financial statements.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.12 - DEPRECIATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. Depreciation is
				a set of methods for allocating the cost of an asset over its economic life.
				Assets owned by proprietary funds and nonexpendable trust funds are required to
				be depreciated. Assets held in the general fixed assets account group may, at
				the option of the fund's managers, be depreciated.
B. Depreciation normally should not be
				recorded until the asset is ready for use.
C. Depreciation reduces the net book value of
				an asset as its economic usefulness is consumed. Depreciation expense should
				normally be closed to fund balance at year-end.
D. The offset to the depreciation account is
				accumulated depreciation. This is a contra-account to assets, whose net value
				is historical cost less accumulated depreciation.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.13 - BETTERMENTS AND REPLACEMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Betterments to assets should be capitalized. If the asset consists of
				identifiable and separately valued components, and a component is improved, the
				old component should be removed from the asset account, and the new component
				added to the asset account.
B.
				Replacements of components, which simply increase the useful life of the asset,
				should be substituted for the previous component, and the useful life and
				amount then used for depreciation. The new component should be recorded
				inclusive of all costs as described in of Section
				2.20.1.10
				NMAC. For example, an aircraft has its engines replaced at a cost of three
				hundred thousand ($300,000). The old engines should be removed from the books
				along with accumulated depreciation and the gain or loss on disposal. The new
				engines are then recorded, and added to the asset with a new useful life and
				basis for depreciation.
C.
				Reinstallation and rearrangement costs of machinery, rearrangement of
				partitions, renovation of buildings, and similar outlays on fixed assets
				purchased in used condition should be capitalized as part of the cost. Overhead
				items such as insurance, taxes, salaries and other incidentals directly related
				to the asset during a period of renovation also should be
				capitalized.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.14 - EXPENDITURES FOR MAINTENANCE AND REPAIRS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Repairs and maintenance on fixed assets,
				which are routine and necessary for continued safe and productive operation,
				should be charged to maintenance expense in the period in which they
				occur.
B. The expense should be
				recorded in the appropriate expenditure object code based on the nature of the
				expense. Repairs and maintenance do not increase the value of the asset, nor
				prolong its life, but the expenses should be matched to the benefits
				received.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.15 - FIXED ASSET CONTROLS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Each
				agency shall establish controls over its fixed assets for the primary purposes
				of safeguarding them and establishing accountability for their custody and use.
				Such controls will apply to:
(1) Authorization
				to acquire fixed assets: Controls on the acquisition of fixed assets shall
				include procedures for requesting their purchase, and a requirement for
				approval to purchase by a representative of agency management who can determine
				that the requested purchase is consistent with the business objectives of the
				agency and is economically reasonable.
(2) Receiving procedures: The delivery of
				goods or services should be accepted by an individual who can attest to such
				delivery and has no access to accounting system records.
(3) Tagging the assets and components: Newly
				received fixed assets shall be tagged at the time they are received. At the
				time that a request to purchase a fixed asset is approved, the purchase order
				shall be returned to the requester along with a tag or tags to identify the
				asset(s).
(4) Assigned location: A
				basic control over fixed assets is information about their physical location.
				Agencies shall record the original assigned location of fixed assets. When a
				fixed asset is reassigned, the new location and fixed asset coordinator should
				be updated in the fixed asset system records.
(5) Fund and organizational unit that
				originally purchased the asset: Fixed assets must be associated with the fund
				and governmental entity that purchased them for the purpose of accurately
				reporting financial performance. If an asset is transferred the fixed asset and
				accounting records should be updated.
(6) Individual(s) responsible for tracking
				their use and location: Agencies shall assign specific individuals within their
				organizational units to be responsible for tracking the fixed assets in their
				units.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.16 - ANNUAL INVENTORY

Current through Register Vol. 35, No. 13, July 16, 2024
A. At the
				end of the fiscal year, each agency shall conduct a physical inventory of its
				fixed assets consisting of those with a historical cost of five thousand
				dollars ($5000) or more, under the control of the governing
				authority.
B. This inventory shall
				include all property procured through the capital projects fund which are
				assigned to the agency designated by the director of the property control
				division as the user agency.
C. All
				passenger vehicles must be included in the inventory process. This includes all
				vehicles leased from the transportation services division of the general
				services department as required by the "auditor's rule" Paragraph (8) of
				Subsection A of Section
				2.2.2.12
				NMAC.
D. The inventory process
				shall produce a list of the property and the date and cost of acquisition. The
				annual physical inventory checks against losses not previously revealed and
				brings to light errors in records of accountability, but more importantly, a
				systematic physical inventory of fixed assets provides an opportunity for
				surveying their physical condition, with respect to their need for repairs,
				maintenance or replacement.
E. The
				results of the physical inventory shall be recorded in a written inventory
				report, certified as to correctness and signed by the governing authority of
				the agency. In the process of conducting their fieldwork, the state auditor or
				independent public accountant under a contract approved by the state auditor
				may test the correctness of the inventory by generally accepted auditing
				procedures (Section 12-6-10A NMSA 1978).
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.17 - IMPAIRMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. An asset is
				considered impaired if its estimated life has been reduced, or its ability to
				generate revenue has been reduced.
B. On finding that an asset has been
				impaired, the accounts for the fund or group to which the asset belongs should
				be posted with the appropriate entries to adjust its value to the new
				estimate.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 1 - ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS AND ESTABLISHING CONTROLS › Section 2.20.1.18 - DISPOSITION OF FIXED ASSETS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Sections
				13-6-1
				through
				13-6-2
				NMSA 1978, and the procurement code govern the disposition of fixed
				assets.
B. For property whose fair
				market value is under five thousand dollars ($5,000) and obsolete, or unusable,
				disposition may be made by:
(1) negotiated
				sale to any governmental unit of an Indian nation, tribe or pueblo in New
				Mexico, or by negotiated sale or donation to other state agencies, local public
				bodies, school districts, state educational institutions or
				municipalities,
(2) sale at public
				auction,
(3) destruction,
(4) disposal of hazardous materials in
				compliance with environmental regulations, and
(5) sale through solicitation of written bids
				through the state purchasing division.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
In order to ascertain the authority and legality of
				  contracts, purchase orders, vouchers, travel vouchers and other financial
				  commitments for departments and other state agencies, pursuant to Section
				  6-5-3
				  NMSA 1978, it is necessary to determine whether the person executing the
				  contract has been properly delegated the authority to bind the department or
				  state agency. In many instances there is no clear statutory power granted to an
				  officer to sign on behalf of an agency. Generally the person who is ultimately
				  responsible for the administration of the law has the implied power to execute
				  legal documents for a state agency. Generally the power to execute may be
				  delegated; however, some laws may require specific officers to execute
				  contracts and vouchers on behalf of the agency. In such cases, no delegation is
				  allowed by law.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
March 23, 2021, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The various acts creating departments pursuant to the
				  Executive Reorganization Acts generally provide that the secretary of the
				  department is responsible to the governor for the operation of the department
				  and shall delegate authority to subordinates as the secretary deems necessary
				  and appropriate, clearly delineating such delegated authority and the
				  limitations thereto. It is the purpose of this rule to set forth those
				  individuals who may legally bind state agencies which must submit their
				  contracts or vouchers to the department of finance and
				  administration.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule:
A.
"Authorized officer"
means a
				public officer or employee who is required or permitted by law or by lawful
				delegation of authority pursuant to this rule to sign contracts, vouchers,
				purchase orders or other financial commitments on behalf of a state
				agency.
B.
"Contracts
				officer
" means an employee of the department of finance and
				administration designated as contracts officer by the secretary of finance and
				administration
C.
"Facsimile
				signature"
means a reproduction by engraving, imprinting, stamping, or
				other means of the manual signature of the authorized officer.
D.
"Signed" or "executed
" means
				affixed with any of the following:
(1) the
				manual signature of an individual; and
(2) the facsimile signature of an
				individual;
(3) the electronic
				signature of an individual procured through a third-party document-signing
				service; or
(4) the name of an
				individual, typewritten on the signature line of a document using word
				processing software and accompanied with another writing confirming that
				individual's approval of such document, including without limitation an e-mail
				to that effect.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.8 - EXECUTION OF CONTRACTS, VOUCHERS AND PURCHASE ORDERS - AUTHORIZED SIGNATURES

Current through Register Vol. 35, No. 13, July 16, 2024
A. The department
				of finance and administration will not approve any contract, voucher, travel
				voucher, purchase order or other financial commitment of any state agency
				required pursuant to 2.20.3 NMAC and 2.40.2 NMAC, to submit its voucher or
				contract to the department for approval unless the contract, voucher, travel
				voucher, purchase order or other financial commitment has been executed by an
				authorized officer of the agency.
B. The authority to execute contracts,
				vouchers, purchase orders, travel vouchers or other financial commitments may
				be delegated unless provided otherwise by law to any officer or employee of the
				state agency, but such delegation shall:
(1)
				be in writing;
(2) state whether
				the delegated power may be subdelegated to another officer or employee of the
				state agency;
(3) automatically
				terminate on whichever date occurs earliest;
(a) the date the term of office of the
				delegating secretary or other chief financial officer ends; or
(b) annually on June 30; and
(4) be on file with the contracts
				officer of the department of finance and administration (for contracts);
				and
(5) be on file with the
				financial control division of the department of finance and
				administration.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 2 - EXECUTION OF CONTRACTS, VOUCHERS, PURCHASE ORDERS AND OTHER › Section 2.20.2.9 - SIGNATURES REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
The two copies of every contract, voucher, travel voucher,
				  purchase order or other financial commitment required to be submitted to the
				  department shall be signed by an authorized officer. The department will retain
				  at least one signed copy of every contract, voucher, travel voucher, purchase
				  order or other financial commitment. Alternatively, agencies may submit a
				  single electronic version, in portable document format (PDF) or a comparable
				  format and in such a manner as the department may direct, of an executed
				  contract, voucher, travel voucher, purchase order or other financial commitment
				  required to be submitted to the department.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 3 - VOUCHER APPROVAL - AUTHORITY TO MAKE EXPENDITURES › Section 2.20.3.7 - DEFINITIONS: STATE AGENCY DEFINED

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule, state agency means the state of New
				  Mexico or any of its branches, agencies, departments, boards,
				  instrumentalities, or institutions but shall not include state educational
				  institutions set forth in Article 12, Section 11 of the New Mexico
				  Constitution. This rule also governs voucher approvals for all divisions of the
				  department of finance and administration.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 3 - VOUCHER APPROVAL - AUTHORITY TO MAKE EXPENDITURES › Section 2.20.3.8 - VOUCHER APPROVAL

Current through Register Vol. 35, No. 13, July 16, 2024
Unless otherwise provided by this rule, no expenditure of
				  public funds shall be made by any state agency, including every division of the
				  department of finance and administration, unless approval of the expenditure as
				  to authority and legality has been made by the department of finance and
				  administration.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 3 - VOUCHER APPROVAL - AUTHORITY TO MAKE EXPENDITURES › Section 2.20.3.9 - VOUCHER APPROVAL-EXCEPTIONS FROM VOUCHERING THROUGH THE DEPARTMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. The secretary of
				finance and administration finds that efficiency and economy require that the
				following state agencies be excepted from submitting vouchers through the
				department for approval:
(1) the state highway
				and transportation department;
(2)
				the inter-tribal Indian ceremonial;
(3) the human services department for:
(a) child support payments;
(b) project forward;
(c) care and support;
(d) financial assistance to clients for
				dependent children;
(e) medical
				payments to providers of care.
(4) the state department of labor;
				and
(5) taxation and revenue
				department for refunds on tax returns.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Department of Finance and Administration.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This rule governs the circumstances under which payroll
				  deductions may be permitted and the method by which vendors, state employees or
				  risk management may initiate requests for a payroll deduction code and by which
				  the department of finance and administration shall process those
				  requests.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Section
				10-7-2
				NMSA 1978 provides that state employees "shall receive their salaries or wages
				for services rendered in accordance with regulations issued by the department
				of finance and administration", placing on the department of finance and
				administration the responsibility for determining when discretionary payroll
				deductions may be permitted.
B.
				Subsection E of Section
				9-6-5
				NMSA 1978 permits the department of finance and administration to "adopt such
				reasonable and procedural rules and regulations as may be necessary to carry
				out the duties of the department."
C. Subsection C of Section
				9-6-5
				NMSA 1978 authorizes the department of finance and administration to apply for
				and receive any public or private funds available to the department to carry
				out its programs, duties or services.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.4 - DURATION

Current through Register Vol. 35, No. 13, July 16, 2024
[RESERVED]
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
[Filed December 20, 1989]
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The purpose of this rule is to benefit state employees by
				  providing payroll deduction codes for only those high quality employee benefit
				  programs that the group buying power of the large number of state employees and
				  the availability of payment by payroll deduction can obtain at substantial
				  economic savings.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Open and switch
				enrollment period" is an annual six-week period during which state employees
				may enroll in a specific qualified employee benefit program or may switch from
				enrollment in such a program offered by one qualified vendor to that offered by
				a different qualified vendor.
B.
				"Payroll deduction code" is a computer code under which a portion of a state
				employee's salary is automatically diverted from the employee to an account for
				the entity holding the code.
C.
				"Qualified employee benefit program" means a program offered by a qualified
				vendor to state employees:
(1) which requires
				a payroll deduction of a stable dollar amount (a change in price during an open
				and switch enrollment period is permitted) for an unlimited duration (subject
				to employee cancellation);
(2)
				which offers employees a benefit not provided, or not provided in sufficient
				amount or with adequate specifications, by an existing, state-sponsored
				program;
(3) which is determined by
				risk management to offer significant benefit for the cost; and
(4) which offers a benefit to employees at
				substantial savings over what an individual employee could obtain without the
				benefit of the group-rate savings available through a payroll deduction
				plan.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.8 - PERMITTED PAYROLL DEDUCTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Payroll deduction codes shall be allowed for the following purposes:
(1) those required by law (state and federal
				taxes, FICA);
(2) state-sponsored
				and required insurance programs where the state shares the cost of the
				program;
(3) PERA, ERB or other
				state-sponsored retirement programs mandated by statute;
(4) deferred compensation programs under
				Chapter 10, Article 7A NMSA 1978;
(5) union dues as permitted by state
				personnel board rules and regulations;
(6) all financial institutions approved by
				the department of finance and administration;
(7) charities approved by the department of
				finance and administration;
(8)
				qualified employee benefit programs approved by risk management;
(9) vanpool associations approved by the
				department of finance and administration;
(10) savings bond programs;
(11) exceptional or emergency circumstances
				which require special consideration and are approved by the department of
				finance and administration on a case-by-case basis.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.9 - PROCEDURE FOR ESTABLISHING QUALIFIED EMPLOYEE BENEFIT PROGRAMS FOR PAYROLL DEDUCTION PURPOSES

Current through Register Vol. 35, No. 13, July 16, 2024
A. A
				qualified employee benefit program may be initiated by three means:
(1) by vendor request;
(2) by state employee request; and
(3) by risk management initiation.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.11 - SOLICITATION OF STATE EMPLOYEES BY VENDORS OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Upon
				certification that a proposed program is a qualified employee benefit program
				as provided in Section 5 [now 2.20.4.9 NMAC] and upon selection of qualified
				vendors as provided in Section 6 [now 2.20.4.10 NMAC], risk management shall
				specify an annual open and switch enrollment period of six (6) weeks for that
				program.
B. Vendors may prepare
				packets of information (fliers, brochures, etc.) for distribution to employees
				of each agency by the agency personnel officer. The information should specify
				how employees can contact vendors or their agents. When multiple vendors are
				soliciting state employees' business for any given employee benefit program,
				personnel officers should attempt, insofar as possible, to distribute
				information from all vendors at the same time during the first week of the open
				and switch enrollment period to facilitate the comparison of
				programs.
C. Should an agency head
				deem appropriate, he or she may authorize a meeting of those employees of the
				agency who so desire with all of the vendors offering a qualified employee
				benefit program for an explanation of the programs and answering of questions.
				Agency heads are requested to hold these meetings during the lunch hour or
				other times which will be nondisruptive of employees' working hours. Such
				authorization shall be in writing and addressed to each of the qualified
				vendors. Risk management shall be notified of these meetings and is encouraged
				to send knowledgeable representatives.
D. Other than the meetings arranged in
				Subsection C above, vendors and their agents shall not be permitted to contact
				employees during working hours or at the place of employment.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 4 - GOVERNING THE AWARD OF PAYROLL DEDUCTION CODES AND DESIGNATION AND IMPLEMENTATION OF QUALIFIED EMPLOYEE BENEFIT PROGRAMS › Section 2.20.4.12 - TERMINATION OF PROGRAMS

Current through Register Vol. 35, No. 13, July 16, 2024
If the secretary determines at any time that any qualified
				  employee benefit program places a burden on the department of finance and
				  administration and risk management which is not offset by a corresponding
				  benefit to state employees, the secretary shall have the right to terminate all
				  payroll deduction codes previously granted to vendors for that qualified
				  employee benefit program under this rule upon giving six (6) months written
				  notice to each vendor. Qualified vendors and state employees shall not gain a
				  vested right to use of payroll deduction codes.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 5 - RESPONSIBILITY FOR ACCOUNTING FUNCTION › Section 2.20.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
Establishes accountability for accounting function in all
				  state agencies as defined by section
				  6-5-1 NMSA 1978, as
				  amended, without exception.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 5 - RESPONSIBILITY FOR ACCOUNTING FUNCTION › Section 2.20.5.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  6-5-2,
				  NMSA 1978, as amended, requires the division to maintain a central system of
				  state accounts and to devise, formulate, approve and control and set standards
				  for the accounting methods and procedures of all state agencies. Section
				  6-5-2
				  NMSA1978, as amended, requires the division prescribe procedures, policies and
				  processing documents for use by state agencies in connection with fiscal
				  matters and may require reports from state agencies as may be necessary to
				  carry out its duties and functions. Section 9-6-5(E) NMSA 1978, as amended,
				  authorizes the secretary of the department to make and adopt such reasonable
				  and procedural rules and regulations as may be necessary to carry out the
				  duties of the department and its divisions.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 5 - RESPONSIBILITY FOR ACCOUNTING FUNCTION › Section 2.20.5.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
To establish accountability for the accounting function by
				  establishing, at the state agency level, standards for the proper recording,
				  summarizing, and reporting of financial transactions and designating one state
				  employee at each state agency to be responsible for maintaining those
				  standards.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 5 - RESPONSIBILITY FOR ACCOUNTING FUNCTION › Section 2.20.5.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Accounting
				function" means the methods and procedures, be they manual or automated, used
				by a state agency to record, summarize, and report its financial
				transactions.
B. "Accounting
				system" means the total structure of records and procedures used to record, to
				classify, to summarize, and to report on the financial position of a
				governmental entity or any of its funds, fund types, or organizational
				components.
C. "Chief financial
				officer" is the working title of the state employee assigned the
				responsibilities set forth in Subsection C of 2.20.5.8 NMAC.
D. "Department" means the department of
				finance and administration.
E.
				"Division" means the financial control division of the department of finance
				and administration.
F. "State
				agency" means any department, institution, board, bureau, commission, district
				or committee of the government of the state and means every office or officer
				of any of the above.
G. "Timely"
				means in substantial compliance with the due dates established by the
				division.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 5 - RESPONSIBILITY FOR ACCOUNTING FUNCTION › Section 2.20.5.8 - CHIEF FINANCIAL OFFICER AND ASSIGNMENT OF RESPONSIBILITIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Statute requires
				that the administrative head of each agency ensure that the model accounting
				practices, established by the division, are followed. In order to ensure that
				model accounting practices are followed, it is incumbent upon the agency head
				to carryout the responsibilities of the chief financial officer, outlined in
				Subsection C of 2.20.5.8 NMAC.
B.
				An agency head may assign the responsibilities outlined in Subsection C of
				2.20.5.8 NMAC to any employee within the agency that has the educational
				background, knowledge, and experience necessary to supervise, monitor, and
				control the state agency's accounting function. The delegation must be in
				writing, must be for a specific fiscal year, and must be approved by the
				division.
C. It is the
				responsibility of the chief financial officer to ensure that:
(1) an internal control structure exists at
				the state agency and is functioning properly.
(2) all transactions are recorded daily in
				the agency's accounting records.
(3) all transactions are properly classified
				in the agency's records.
(4) cash
				account records are reconciled timely each month to the division's reports and
				to the state treasurer's reports.
(5) all transactions comply with federal and
				state law.
(6) all expenditures
				have a public benefit or purpose, are necessary, and are consistent with the
				appropriation, the expenditure authority from the legislature and comply with
				Section
				6-5-3
				NMSA 1978, as amended.
(7) all
				accounting systems, including subsidiary systems, are recording transactions
				timely, completely, and accurately.
(8) all payments to vendors are accurate,
				timely and the state agency has certified they are for services rendered or
				goods received in accordance with Section
				13-1-158
				NMSA 1978, as amended.
(9) all
				information requested by the division from the state agency is provided timely
				and accurately.
(10) all reporting
				of financial information must be timely, complete and accurate, to the state
				agency's management and to oversight agencies and entities.
(11) the state agency's annual financial
				statement audit is completed by the deadline established by the state auditor
				and the audit report includes an unqualified opinion.
(12) a budgetary control system, approved by
				the state budget division of the department of finance and administration, is
				in place and functioning.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 6 - AUTHORITY TO ISSUE WARRANTS › Section 2.20.6.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
Applies to all state agencies, as defined by section
				  6-5-1 NMSA 1978, as
				  amended, seeking authorization to issue warrants or exception from the
				  requirement of prior submission of proposed vouchers, purchase orders or
				  contracts to the division as provided in section
				  6-5-3
				  NMSA 1978, as amended.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 6 - AUTHORITY TO ISSUE WARRANTS › Section 2.20.6.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  6-5-9
				  NMSA 1978, as amended, requires the secretary of the department to annually
				  issue a written order granting authorization to a particular state agency to
				  issue warrants or exception from the requirement of prior submission of
				  proposed vouchers, purchase documents, purchase orders or contracts to the
				  division as provided in section
				  6-5-3
				  NMSA 1978, as amended when efficiency or economy so requires. Section 9-6-5(E)
				  NMSA 1978, as amended, authorizes the secretary of the department to make and
				  adopt such reasonable and procedural rules and regulations as may be necessary
				  to carry out the duties of the department and its divisions.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 6 - AUTHORITY TO ISSUE WARRANTS › Section 2.20.6.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The object of this rule is to provide the conditions state
				  agencies shall fulfill prior to applying to obtain an authorization to issue
				  warrants or exception from the requirement of prior submission of proposed
				  vouchers, purchase documents, purchase orders or contracts to the division.
				  Also, the object of this rule is to ensure that a state agency that is applying
				  to obtain such authorization or exception is recording and reporting its
				  financial transactions timely, completely, and accurately and that its
				  accounting system follows all the division's current policies and procedures.
				  Reporting includes, but is not limited to: the reporting in audited financial
				  statements; managerial reporting; reporting to oversight agencies including
				  commissions, committees, and the legislature; and detailed transaction
				  reporting to the division.
New Mexico Administrative Code › Title 2 - PUBLIC FINANCE › Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES › Part 6 - AUTHORITY TO ISSUE WARRANTS › Section 2.20.6.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Accounting
				system" means the total structure of records and procedures used to record, to
				classify, to summarize, and to report on the financial position of a
				governmental entity or any of its funds, fund types, or organizational
				components.
B. "Department" means
				the department of finance and administration.
C. "Division" means the financial control
				division of the department of finance and administration.
D. "State agency" means any department,
				institution, board, bureau, commission, district or committee of the government
				of the state and means every office or officer of any of the above.
E. "Warrant" means a written instrument
				issued by the division authorizing payment of a specified amount to a
				designated payee out of the state treasurer's funds.
F. "Timely" means in substantial compliance
				with the due dates established by the division.