New Mexico Administrative Code
Title 6 - PRIMARY AND SECONDARY EDUCATION
Chapter 50 - INSURANCE
Part 2 - CONTRACTS FOR PURCHASE OF PROFESSIONAL SERVICES AND INSURANCE
Section 6.50.2.25 - CONTRACTS - AUDITS
Universal Citation: 6 NM Admin Code 6.50.2.25
Current through Register Vol. 35, No. 18, September 24, 2024
A. The authority has the primary responsibility for contract compliance monitoring. The board or its consultant if any, shall audit contracts on a random basis to determine:
(1) if the tasks
called for in the scope of services have been performed;
(2) if the contract was completed in time and
within budget; and
(3) if the
services were performed to the satisfaction of the authority.
B. For purposes of compliance with this provision, every contract shall require the contractor to maintain detailed time records which indicate the date, time and nature of services rendered.
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