New Mexico § 6-3-25 - Budget adjustment procedure

§ 6-3-25. Budget adjustment procedure

A. Except for federal funds, disaster assistance funds and emergency response funds,

any budget adjustment request to transfer, decrease or increase funds shall be held

in abeyance for ten calendar days after the director of the state budget division

of the department of finance and administration has approved the request and has filed

the request with the director of the legislative finance committee or his designee. The request shall be accompanied by a statement, in writing, of the conditions under

which the budget adjustment request is approved, together with justification for approval. B. If within ten days the director of the legislative finance committee or his designee

objects to the request, the request shall not go into effect until it is reviewed

by the legislative finance committee at a public hearing held within thirty-five calendar

days of receipt of the proposed budget adjustment by the director of the legislative

finance committee or his designee. If the state fiscal year ends prior to the date scheduled for a hearing, the request

shall go into effect on the last day of the fiscal year. C. If within ten days of receipt of a budget adjustment request the director of the

legislative finance committee or his designee indicates that no objection will be

forthcoming, the proposed budget adjustment request may be implemented immediately. If no public hearing is held within the required thirty-five days, the request may

be implemented.