New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 3 - POST-SECONDARY EDUCATION INSTITUTION FINANCES
Part 11 - FISCAL OVERSIGHT
Section 5.3.11.11 - NOTICE OF CONTEMPLATED EFOP STATUS
Universal Citation: 5 NM Admin Code 5.3.11.11
Current through Register Vol. 35, No. 18, September 24, 2024
If in its evaluation of fiscal health the department determines that potential problems of finance exist within the institution, the department shall issue notice of contemplated EFOP status to the institution. The notice shall indicate the risk factor(s) identified by the department that provide the basis of the contemplated EFOP status. Notice of contemplated EFOP status shall be sent via certified mail to the president of the institution, the chair of the governing board, and the chief financial officer of the institution.
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