0001| AN ACT | 0002| RELATING TO PUBLIC SCHOOLS; REQUIRING THE STATE DEPARTMENT OF | 0003| PUBLIC EDUCATION TO ENACT PROCEDURES TO ENSURE THAT SCHOOL | 0004| DISTRICTS COMPLY WITH ACCOUNTING AND BUDGETING REGULATIONS; | 0005| DIRECTING THE STATE DEPARTMENT OF PUBLIC EDUCATION TO ENACT | 0006| REGULATIONS REQUIRING SCHOOL DISTRICTS TO SUBMIT ANNUAL | 0007| ACCOUNTING AND BUDGETING REPORTS; AMENDING THE PUBLIC SCHOOL | 0008| CODE. | 0009| | 0010| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0011| Section 1. Section 22-8-5 NMSA 1978 (being Laws 1967, Chapter 16, Section 59, as | 0012| amended) is amended to read: | 0013| "22-8-5. MANUAL OF ACCOUNTING AND BUDGETING.-- | 0014| A. The department shall compile and publish a manual prescribing detailed | 0015| regulations for a uniform system of accounting and budgeting of funds for all public schools and | 0016| school districts of the state. The manual of regulations and any revision or amendments thereto | 0017| shall become effective only upon approval by the state board and the legislative finance | 0018| committee, filing with the state records center and publication. A copy shall also be filed with | 0019| the department of finance and administration. | 0020| B. All public schools and school districts shall comply with the regulations | 0021| prescribed in the manual of accounting and budgeting and shall, upon request, submit additional | 0022| reports concerning finances to the department. In addition, upon request, all public schools and | 0023| school districts shall file reports with the department containing pertinent details regarding | 0024| applications for federal money or federal grants-in-aid or regarding federal money or federal | 0025| grants-in-aid received, including but not limited to details of programs, matching funds, | 0001| personnel requirements, salary provisions and program numbers, as indicated in the catalog of | 0002| federal domestic assistance, of the federal funds applied for and of those received. | 0003| C. The department shall develop procedures for ensuring that local school | 0004| districts comply with the regulations prescribed in the manual of accounting and budgeting. The | 0005| department shall require local school districts to submit annually a report on the district's internal | 0006| control policies and procedures. The report shall be submitted with each budget request required | 0007| pursuant to Section 22-8-12.1 NMSA 1978, include information on the internal control structure | 0008| for all school district transactions and specify the individuals involved in the accounting and | 0009| budgeting process during the accounting cycle. Additionally, prior to the approval of temporary | 0010| budgets, the department shall advise each local school district and the state auditor of the | 0011| minimum requirements for independent school district audits for the ensuing fiscal year. | 0012| D. Upon request by the department of finance and administration, the | 0013| legislative finance committee or the legislative education study committee, the department | 0014| shall timely furnish information and data obtained from public schools and school districts | 0015| pursuant to Subsection B of this section." |