2019 New Mexico Statutes
Chapter 6 - Public Finances
Article 5 - Financial Control
Section 6-5-2 - Financial control division; central system of state accounts; accounting systems; processing documents; model accounting practices; internal accounting controls.

A. The division shall maintain a central system of state accounts and shall devise, formulate, approve, control and set standards for the accounting methods and procedures of all state agencies. The division shall prescribe procedures, policies and processing documents for use by state agencies in connection with fiscal matters and may require reports from state agencies as may be necessary to carry out its duties and functions. Procedures and policies issued by the division are exempt from the uniform standards of style and format promulgated by the state commission of public records.

B. The division shall issue a manual of model accounting practices containing the procedures and policies prescribed pursuant to Subsection A of this section and shall annually review and, if necessary, revise and reissue the manual. State agencies shall comply with the model accounting practices established by the division, and the administrative head of each state agency shall ensure that the model accounting practices are followed.

C. State agencies shall implement internal accounting controls designed to prevent accounting errors and violations of state and federal law and rules related to financial matters. In addition, state agencies shall implement controls to prevent the submission of processing documents to the division that contain errors or that are for a purpose not authorized by law.

History: 1953 Comp., § 11-2-64, enacted by Laws 1957, ch. 252, § 2; 1977, ch. 247, § 114; 2003, ch. 273, § 2.

The 2003 amendment, effective July 1, 2003, substituted "processing documents; model accounting practices; internal accounting controls" for "forms" in the section heading; added Subsection A designation and in Subsection A, substituted "The division" for "The financial control division of the state department of finance and administration" at the beginning, inserted "and set standards for" following "accounts and shall", substituted "procedures, policies and processing documents" for "forms" following "division shall prescribe", added the last sentence; and added Subsections B and C.

Executive conditions on grants of capital outlay appropriations. — Executive Order 2013-006, which requires state agencies, local public bodies and other entities to meet criteria that exceed the conditions required under the 2013 Work New Mexico Act, Laws 2013, ch. 226, before they can receive and use capital outlay appropriations, violates the separation of powers mandated by Article III, Section 1 of the New Mexico Constitution. 2013 Op. Att'y Gen. No.13-03.

Authority to create working capital fund to finance central data processing service. — The department of finance and administration has authority to set up and maintain a working capital fund to finance the operation of a central electronic data processing service. 1959 Op. Att'y Gen. No. 59-187.