New Mexico Administrative Code

April 30, 1998, unless a later date is cited at the end of a section.

This rule provides general guidance regarding the financial and legal requirements to be followed by the state treasurer to minimize risks to existing and future deposits of public money under the authority of the board.

A. "Board" means state board of finance. B. "Custodial bank" means a federal reserve bank or branch thereof or any bank designated by the board as described in this rule. C. "Deposit" means the amount of state funds held by the financial institution in an account owned by the sta…

BANK: A. A financial institution requesting to become a depository bank must submit the following information to the state treasurer:(1) a letter from the financial institution requesting to become a depository bank; (2) copy of FDIC certification or the national credit union adm…

A. The board directs the state treasurer to conduct risk assessment analysis of depository banks holding deposits of public money under the board's authority. The risk assessment will include a determination of each depository bank's primary capital-to-asset ratio, net operating …

State Board of Finance

Banks, savings and loan associations, and custody banks submitting proposals to be the fiscal agent or custody bank for the state of New Mexico.

Section 6-10-35, NMSA, 1978 Comp., provides that the state board of finance may designate a bank or savings and loan association doing business in this state and having an unimpaired capital and surplus of at least $20,000,000 as the fiscal agent of New Mexico. The statute also p…

Permanent

July 1, 1987, unless a later date is cited at the end of a section.

Establishes designation procedures for selecting a fiscal agent bank and custody bank for the state of New Mexico.

A. "Fiscal agent" is that bank or savings and loan association selected by the board to provide services such as: (1) collection for the state of all checks or other items received by the state on any account; (2) handling of the checking account of the state treasurer; (3) handl…

The state board of finance may accept and review proposals from banks and savings and loan associations to be fiscal agent for the state of New Mexico, submitted in response to a request for proposals issued in conformance with the state Procurement Code and the applicable regula…

The state board of finance may accept and review proposals from banks to be custody bank for the state of New Mexico, submitted in response to request for proposals issued in conformance with the state procurement code and the applicable requlations. A. The board's request for pr…

State Board of Finance, 181 Bataan Memorial Building, Santa Fe, NM 87501.

A. Public bodies requesting authorization for use of electronic fund transfers must submit to the directors of the financial control division of the department of finance and administration and the board a letter explaining the reason for the use of electronic fund transfers and …

State agencies with respect to acceptance of payment cards and all public bodies with respect to electronic fund transfers. These regulations do not apply to procurement cards issued to agencies for procurement of goods and services or to travel cards issued by the state general …

A. Article IV, Section 30 of the New Mexico state constitution states that no money shall be paid out of the treasury except upon warrant drawn by the proper officer. B. Section 6-10-1.2 NMSA 1978 provides that a state agency may accept payment by credit card or electronic means …

Permanent.

August 31, 2000, unless a later date is cited at the end of a section.

This rule provides general guidance regarding the financial and legal requirements for acceptance of payment cards through the state's fiscal agent bank and any approved third-party processor and the use of electronic fund transfers.

A. "Agency" means each department, agency, branch, commission, and board of government of the state of New Mexico. B. "Board" means state board of finance. C. "Electronic fund transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar p…

A. Payment card services will be provided through the fiscal agent subject to the terms and conditions as set out in the fiscal agent agreement and the board's agreements with individual payment card companies, through an agreement between an agency and a third-party processor if…

A. The fiscal agent shall provide payment card services, upon written request by the director of the board, to any agency so requesting subject to the terms and conditions set out in the fiscal agent agreement and individual payment card company agreements with the board. B. The …

State Board of Finance.

A. All documentation and statements are subject to audit by the state auditor and external auditors. The state auditor may not [sic] any failure to comply with this policy and the amount of any outstanding reconcilement exceptions in the annual audits of investing agencies. B. Fa…

A. Approved by State Board of Finance on November 28, 1989. B. This rule is effective November 28, 1989. C. Rosina Boyd, Director, State Board of Finance D. Date signed. November 28, 1989

[RESERVED]

[RESERVED]

[Permanent.]

[Filed December 4, 1989]

To protect funds and assets of the state deposited or held in custody with the fiscal agent bank and the correspondent bank of the fiscal agent by establishing requirements for reconciling securities and cash balances of investing agencies.

A. "Board" means the state board of finance. B. "SBF" means the board of finance division, department of finance and administration, which administers the fiscal agent contract. C. "Investing agencies" means the state investment council (SIC), the educational retirement board (ER…

A. Daily Reconcilement and Reporting Requirements: (1) All investing agencies shall reconcile their respective investment transactions and investment, account cash balances daily to the records of the fiscal agent bank and correspondent bank for the prior business day. (2) All in…

Investing agencies shall establish procedures by 3/31/90 to be utilized if the communications software system used by the fiscal agent bank and investing agencies is not available. The designated personnel administering the procedures and a copy of the procedures will be reported…

State Board of Finance, 181 Bataan Memorial Building, Santa Fe, NM.

A. Within fourteen (14) business days after a district issues any bonds, the district shall advise the board by letter of the date of issuance, the interest rate, and the total aggregate amount of each issue. B. On or before June 1 of each year following the issuance of the bonds…

Tax increment development districts formed pursuant to the Tax Increment for Development Act with respect to the state's dedication of a portion of its gross receipts tax increment.

Section 5-15-2(A) NMSA 1978 states that the purpose of the Tax Increment for Development Act is to create a mechanism for providing gross receipts tax financing and property tax financing for public infrastructure for the purpose of supporting economic development and job creatio…

Permanent.

October 15, 2008, unless a later date is cited at the end of a section.

To establish rules and regulations governing the dedication of a portion of the state's gross receipts tax increment provided for by the Tax Increment for Development Act (Sections 5-15-1 through 5-15-28 NMSA 1978); to provide guidance as to board evaluation of district requests …

A. "Act" means the Tax Increment for Development Act, NMSA 1978, Sections 5-15-1 through 5-15-28(2006), as it may be amended. B. "Application" means the submittal by the district, or, if the district is not yet formed, the owners of at least fifty percent (50%) of real property l…

In determining whether it can make the findings required for dedication of up to seventy-five percent (75%) of the state's increment and what percentage of the state's increment may be dedicated or for approval of the revision of a district's base year the board will: A. evaluate…

A. Contents of application. A district requesting a dedication of a portion of the state's increment or the revision of its base year shall submit an application that includes: (1) a conceptual site plan for the project; (2) the tax increment development plan approved by the gove…

State Board of Finance, 181 Bataan Memorial Building, Santa Fe, New Mexico.

State agencies and issuing authorities that are not state agencies.

Sections 6-20-1 through 6-20-11 NMSA 1978 (Act).

Permanent.

November 29, 1997 unless a different date is cited at the end of a section or paragraph and applies to all private activity bonds issued after this date.