New Mexico Administrative Code
Title 1 - GENERAL GOVERNMENT ADMINISTRATION
Chapter 5 - PUBLIC PROPERTY PROCUREMENT AND MANAGEMENT
Part 3 - ADMINISTRATION AND USE OF STATE VEHICLES
Section 1.5.3.9 - LEASE OF MOTOR POOL VEHICLES
Current through Register Vol. 35, No. 18, September 24, 2024
A. A state agency or public agency may lease a motor pool vehicle from the SCFA:
B. Rates. Rates for the lease of motor pool vehicles are based on costs for the type of vehicle leased. The SCFA will provide current rates and policies for the lease of motor pool vehicles upon request. There are three (3) types of SCFA long-term leases:
C. Terms.
D. Accounts receivable. The SCFA requires the leasing state agency to maintain its accounts receivable current - thirty (30) days or less. The SCFA shall assess a one and one-half percent (1.5%) per month late payment penalty fee on accounts over thirty (30) days past due. The SCFA may take action to cancel any lease agreement(s) and recover the vehicle(s) if the lessee is delinquent over one hundred twenty (120) days in making payment. For short-term leasing, SCFA will charge for one (1) day use for reservations that are not canceled.
E. Encumbrance. The SCFA requires the leasing state agency to encumber the entire fiscal year cost of the lease at the time the lease is signed at the beginning of each fiscal year. The leasing agency may disencumber funds only after a written request to the director or designee is approved. The director or designee will act on requests to disencumber funds within ten (10) working days of the date of the receipt of the leasing agency's request.
F. Operating transfer. To expedite the payment of lease costs to the SCFA, the user agency may choose to pay the annual cost of vehicles leased through an operating transfer within the first forty-five (45)-days of each fiscal year.
G. Termination. Either the division or a state agency may terminate the lease of a state vehicle as per the terms and conditions included in the standing lease agreement.