New Mexico Statutes Chapter 6. Public Finances § 6-3B-2. Definitions

A. “annual audit” means the annual audit or examination of the financial affairs of a grantee by an independent auditor required by the Audit Act;

B. “department” means the department of finance and administration;

C. “grant” means a non-exchange transaction whereby a state agency makes a capital outlay appropriation or other special purpose appropriation available to a grantee;

D. “grant agreement” means a written agreement pursuant to which a state agency grants a capital outlay appropriation or other special purpose appropriation to a grantee;

E. “grantee” means an entity to which a state agency grants a capital outlay appropriation or other special purpose appropriation;

F. “independent auditor” means a certified public accountant or chartered accountant who has been approved by the state auditor to examine financial records and transactions of a grantee to impartially and objectively determine compliance with generally accepted accounting principles and state laws and rules;  and

G. “state agency” means any department, institution, board, bureau, commission, district or committee of state government.