New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 3 - POST-SECONDARY EDUCATION INSTITUTION FINANCES
Part 11 - FISCAL OVERSIGHT
Section 5.3.11.10 - ENHANCED FISCAL OVERSIGHT PROGRAM OVERVIEW
Universal Citation: 5 NM Admin Code 5.3.11.10
Current through Register Vol. 35, No. 18, September 24, 2024
The EFOP is administered by the department for institutions found to exhibit risk factors indicating potential problems of finance. An institution assigned by the department to participate in the EFOP will be considered by the department to be on EFOP status until the institution satisfactorily completes all conditions of EFOP, as determined by the department. The program will establish reporting requirements for the institution, increased monitoring and verification by the department, and establish a systematic approach to substantially mitigate or eliminate institutional risk factors.
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