New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 20 - ACCOUNTING BY GOVERNMENTAL ENTITIES
Part 6 - AUTHORITY TO ISSUE WARRANTS
Section 2.20.6.6 - OBJECTIVE

Universal Citation: 2 NM Admin Code 2.20.6.6
Current through Register Vol. 35, No. 18, September 24, 2024

The object of this rule is to provide the conditions state agencies shall fulfill prior to applying to obtain an authorization to issue warrants or exception from the requirement of prior submission of proposed vouchers, purchase documents, purchase orders or contracts to the division. Also, the object of this rule is to ensure that a state agency that is applying to obtain such authorization or exception is recording and reporting its financial transactions timely, completely, and accurately and that its accounting system follows all the division's current policies and procedures. Reporting includes, but is not limited to: the reporting in audited financial statements; managerial reporting; reporting to oversight agencies including commissions, committees, and the legislature; and detailed transaction reporting to the division.

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