New Mexico § 8-6-3.1 - State cash manager; powers and duties

§ 8-6-3.1. State cash manager; powers and duties

A. The “office of the state cash manager” is established under the office of the state

treasurer. The state treasurer shall appoint the state cash manager, who shall manage efficiently

all state cash balances in the custody of the state not otherwise invested or deposited,

and in consultation with the state board of finance perform the duties necessary to

carry out that management responsibility. B. The duties of the state cash manager include: (1) issuance of cash management regulations, procedures and enforcement policy to

assure implementation of and compliance with the federal Cash Management Improvement

Act of 1990 1 and other provisions of law; (2) obtaining from each state agency periodic reports of all money from any source

in the agency's custody, including detailed information on receipts, disbursements

and balances on hand or on deposit in a financial institution; (3) periodic review of all deposits made and balances on hand to assure that all money

received by each state agency is deposited in a timely manner in the state fiscal

agent bank and, if applicable, to the state agency's account in the state treasury; (4) projection of the state's short-term and long-term cash needs to determine the

amount available for short-term and long-term investment; (5) determination and periodic update of the warrant clearance pattern to project

the time lag between warrant issuance date and warrant clearance date to facilitate

cash management activities; and (6) preparation of a monthly written report showing state fund balances in each financial

institution and sending the report to the state board of finance, the legislative

finance committee, the state investment council, the educational retirement board

and the retirement board of the public employees retirement association. C. In addition to the specific duties in Subsection B of this section, the state cash

manager shall ensure that non-income producing state cash balances are kept to a minimum

in accordance with established guidelines. The state cash manager shall report any actual or anticipated deviations from such

established guidelines to the state board of finance, the investing board or council,

and the legislative finance committee. D. The state cash manager shall have access to all accounts, files and other records

of funds in the custody of the state. Upon approval of the state board of finance, the state cash manager may conduct

any periodic investigation he deems necessary to enable him to perform his duties

pursuant to this section. E. As used in this section, “state agency” means the state of New Mexico or any of

its branches, agencies, departments, boards, instrumentalities or institutions, other

than state educational institutions designated by Article 12, Section 11 of the constitution of New Mexico , and includes the New Mexico mortgage finance authority and the New Mexico finance

authority. 1

31 U.S.C.A. § 3335.