Section 77-2-25 - Interim receipts and disbursements fund created. - New Mexico Statutes

77-2-25. Interim receipts and disbursements fund created.

There is created the "interim receipts and disbursements fund".  All money received by the board from tax levies authorized by this article shall be credited to this fund and deposited in a designated bank in the name of the board. Money shall be disbursed from this fund only upon a warrant issued by the executive director in the name of the board. Disbursements may be made to pay necessary expenses and obligations of the board, which include expenses for salaries, supplies, equipment, rent on office space or other goods and services in accordance with a budget approved by the department of finance and administration.  The board shall prescribe any additional administrative procedure necessary to administer this fund.