N.M. Admin. Code § 5.3.5.10 - INSTRUCTION AND GENERAL - FORMULA INSTITUTIONS

A. Appropriate expenditure levels will be calculated taking into consideration such factors as compensation levels, the effect of inflation on nonsalary items, and the differential costs attributable to levels of instruction and fields of study at institutions of varying sizes.

B. The commission will, as a part of its regular legislative recommendation process, review the revenue credit assumptions contained in the prior general fund appropriation, and use these assumptions as a basis for making recommendations when taking credit against formula expenditure levels.

C. Revenue from other non-general fund sources will be projected and credit will be taken against expenditure levels on the basis of guidelines developed annually by the commission.

D. Formula transfers for state scholarships, building renewal and replacement, and equipment replacement will be added to formula expenditures. An amount equal to these formula transfers will be required as a transfer to the appropriate budget exhibits.

E. Revenue required by statute from district ad valorem taxes will be projected and will be credited against the formula expenditure level in support of the I and G budget for institutions maintaining local taxing districts.

F. Revenue from federal and other grants for instructional and general programs will be counted as available for support of the I and G budget when these programs have been recognized in expenditure calculations. Grants from such sources for instructional programs not recognized in expenditure calculations will not be counted as available for support of the I and G budget.

G. After taking into account revenue available directly for minor capital outlay, transfers from I and G will be allowed in support of minor capital outlay expenditures.

Notes

N.M. Admin. Code § 5.3.5.10

9/21/84, 12/31/98; Recompiled 10/31/01