New Mexico Statutes Chapter 6. Public Finances § 6-3B-4. Grant management and oversight requirements

A. ensure that sales, leases and licenses of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee are approved in accordance with applicable law;

B. in the event no oversight agency is required to approve of a sale, lease or license of capital assets acquired with capital outlay appropriations and special purpose appropriations granted to a grantee, independently confirm that the disposition of capital assets complies with applicable law and that the grantee is receiving adequate consideration in exchange for the capital assets;

C. utilize the appropriate capital outlay grant agreement template developed by the department;  and

D. conduct field audits of capital outlay projects, on a statistical or stratified basis, in accordance with procedures and policies prescribed by the department.