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New Mexico Statutes Chapter 22. Public Schools § 22-9-5. Custody of funds; budgets; disbursements

Current as of January 01, 2024 | Updated by Findlaw Staff

A. The state treasurer shall be the custodian of all funds received by the state by virtue of a federal statute, gift or grant relating to aid for education, school construction or school breakfast or lunch programs. The state treasurer shall hold these funds in separate accounts according to the purpose of the grant or gift.

B. All federal funds, gifts or grants administered by the department shall be budgeted, accounted for and disbursed as provided by law and by the rules of the department of finance and administration.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 22. Public Schools § 22-9-5. Custody of funds; budgets; disbursements - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-22-public-schools/nm-st-sect-22-9-5/

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