N.M. Code R. § 4.21.9.8 – Fiscal

A. All funds of the commission shall be deposited in a depository or depositories designated by the commission under the name of the Cumbres & Toltec scenic railroad commission.
B. Disbursement of all funds, in the hands of the commission, shall be made by check signed by one member of the commission. The commission members designated to sign checks shall be appointed and approved by vote of the commission.
C. At the third quarterly meeting of each year, the commission shall adopt and transmit to the governors of the two states a budget covering an estimate of its expenses for the following fiscal year.
D. The payment of expenses of the commission and of its employees shall be subject to the audit and accounting procedures of the states.
E. All receipts and disbursements of the commission shall be audited yearly by a qualified independent certified accountant to be selected by the commission and the report of the audit shall be included in and become a part of the annual report of the commission.
F. An up-to-date inventory of all property of the commission shall be kept at the principal office of the commission.
G. The fiscal year of the commission shall begin July 1st each year and end June 30th of the next succeeding year.
[6-15-84; 4.21.9.8 NMAC - Rn, 4 NMAC 21.9.8, 02-29-08]
HISTORY OF 4.21.9 NMAC:
Pre-NMAC History: The material in this part was derived from that previously filed with the State Records Center and Archives under:
C&TSRRC Rule No. 7, Fiscal, 5-15-84.
History of Repealed Material: [RESERVED]