New Mexico Administrative Code
Title 6 - PRIMARY AND SECONDARY EDUCATION
Chapter 63 - SCHOOL PERSONNEL - LICENSURE REQUIREMENTS FOR ANCILLARY AND SUPPORT PERSONNEL
Part 12 - SCHOOL BUSINESS OFFICIAL LICENSURE
Section 6.63.12.9 - COMPETENCIES

Universal Citation: 6 NM Admin Code 6.63.12.9

Current through Register Vol. 35, No. 18, September 24, 2024

To qualify for receipt of a level 2 license, a person shall comply with the competency requirements enumerated as follows:

A. Legal issues: The school business official understands and demonstrates the ability to:

(1) identify the state and federal constitutional rights that apply to individuals within the public education system;

(2) review and analyze appropriate statutory and constitutional authority regarding the administration of public schools;

(3) review and analyze significant statutory issues relative to financial resource management.

B. Financial resource management: School business officials must be able to demonstrate, understand, and comprehend the principles associated with school finance, budgeting, financial planning, accounting, auditing, financial reporting, cash management, investments, debt management and technology for school business operations.

(1) Principles of school finance: The school business official understands and demonstrates the ability to apply all New Mexico state statutes and regulations as they apply to public schools including but not limited to:
(a) Procurement Code, Sections 13-1-28 to 13-1-199, NMSA 1978, as may be amended or reenacted;

(b) New Mexico PED manual of procedures in its most current form;

(c) department of finance and administration rules as set forth in Title 2 of the NMAC, as may be amended, replaced, or otherwise changed; and

(d) New Mexico state auditor rules as set forth in Title 2 of the NMAC, as may be amended, replaced, or otherwise changed;

(2) Budgeting and financial planning: The school business official understands and demonstrates the ability to:
(a) apply the legal requirements for budget adoption;

(b) prepare a local budget calendar to meet the time constraints of budget preparation;

(c) recognize and analyze significant social, demographic and economic changes which may impact the financial plan of the district;

(d) recognize and forecast the major sources of revenue available to public schools from local, state and federal levels of government;

(e) analyze the impact of shifts in local, state and federal funding and its effect on local spending plans;

(f) recognize and explain internal and external influences on the budget;

(g) recognize multiple approaches to determine reliable enrollment and personnel projections;

(h) interpret the state funding model;

(i) prepare revenue projections and estimates of expenditures for school sites and district-wide budgets;

(j) identify various methods of budget analysis and management;

(k) exercise budgetary management; and

(l) apply analytical procedures for budgetary analysis;

(3) Accounting, auditing, and financial reporting: The school business official understands and demonstrates the ability to:
(a) understand the use and role of internal and external audits;

(b) prepare and analyze interim and annual financial statements;

(c) report the financial status and operating results to the local board of education;

(d) determine revenues and expenditures by fund using state-approved charts of accounts;

(e) develop and maintain all fixed assets inventory in accordance with applicable governmental accounting standards board pronouncements;

(f) use the annual audit report to improve financial tracking and reporting; and

(g) apply the appropriate basis of accounting in accordance with applicable governmental accounting standards board pronouncements in measuring financial position and operating results.

(4) Cash management, investments, and debt management: If applicable to the school district in which he or she is employed, the school business official understands and demonstrates the ability to:
(a) use lease purchasing and joint powers agreements;

(b) select banking and other financial services;

(c) recognize the statutory limitations on investment options available to a school district;

(d) apply procedures for implementing and monitoring internal transfers and loans; and

(e) apply the process of issuing long-term general obligation bonds including the bond rating process and the role of the bonding attorney and rating services.

Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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