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New Mexico Statutes Chapter 6. Public Finances § 6-4-6. Expenditures authorized to maintain cash flow

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

For cash flow purposes all amounts that have been appropriated for general government purposes may be used to pay current expenses and obligations of state government regardless of the specific fund or account to which the accounting records of the state government may show those funds or accounts allocated or appropriated. Nothing in this section authorizes:

A. the payment of expenses or obligations of state government from any fund or account unless it may reasonably be expected that at the end of the fiscal year the balances in that fund or account will be fully restored; or

B. the transfer or use of the following amounts to pay current expenses or obligations of state government unless there is a specific authorization for such a transfer or payment in a current law other than this section:

(1) revenues deposited for credit to any permanent fund;

(2) revenues deposited and pledged for the payment of principal and interest on any evidence of indebtedness of the state;

(3) federal revenues deposited for payment for a specific program; and

(4) any income from the permanent fund or from any other fund if the expenditure or transfer of that income would violate a constitutional, enabling act or trust provision.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 6. Public Finances § 6-4-6. Expenditures authorized to maintain cash flow - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-6-public-finances/nm-st-sect-6-4-6/

Read this complete New Mexico Statutes Chapter 6. Public Finances § 6-4-6. Expenditures authorized to maintain cash flow on Westlaw

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