Section 6-3-6 - State budget division; periodic allotments. - New Mexico Statutes

6-3-6. State budget division; periodic allotments.

The state budget division, subject to the approval of the secretary of finance and administration, is authorized to provide regulations for the periodic allotment of funds that may be expended by any state agency. The expenditures of any state agency as defined in Section 6-3-1 NMSA 1978, for the first six-months [six-month] period of each odd-numbered fiscal year shall be limited to one-half of the appropriation or approved budget, whichever is less, for that fiscal year. This restriction shall not apply to those agencies whose operations are more efficiently measured by periods other than a fiscal year, including but not limited to the legislative council, legislative committees, the inter-tribal Indian ceremonial and the state fair. Expenditures of the inter-tribal Indian ceremonial and the state fair shall be governed by regulation of the department of finance and administration. The department of finance and administration may also allow expenditure of more than one-half of the appropriation or approved budget for those agencies planning major expenditures for capital outlay in the first six months of the fiscal year which would result in over-expenditure of the first six-months' allocation.