New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 60 - INVESTMENT AND DEPOSIT OF PUBLIC FUNDS
Part 9 - INVESTING AGENCIES RECONCILING AND REPORTING POLICY
Section 2.60.9.7 - DEFINITIONS

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 (ERB), the public employees retirement association (PERA) and the state treasurer's office (STO) overnight investment program.

D. "Cash manager" means the cash manager division of the STO.

E. "Fiscal agent bank" means the fiscal agent operating under the current fiscal agent contract with the board.

F. "Correspondent bank" means the correspondent bank providing correspondent banking services to the fiscal agent bank, approved by the board.

G. "Exceptions" means any differences between balances and transactions on the records of investing agencies and the records of the fiscal agent and the correspondent bank.

H. "Investment exception/resolution report" means the reconcilement form prescribed by the state treasurer's office to be completed by the investing agencies in order to comply with this directive.

I. "Reconcile" means a determination of items necessary to bring the records of investing agencies and the fiscal agent and correspondent bank balances into agreement for the prior business day.