N.M. Stat. § 22-14-9 (2026)

    A. The state treasurer shall be the custodian of all federal aid funds. The state
treasurer shall hold these funds in separate accounts according to the purposes of the
funds.

    B. All state funds, federal aid funds or grants to the state relating to vocational
education shall be budgeted and accounted for as provided by law and by the rules of
the department of finance and administration. These funds or grants shall be disbursed
by warrants of the department of finance and administration on vouchers issued by the
director of the instructional support and vocational education division or the director's
authorized representative.

    C. All state funds, federal aid funds or grants to the state relating to vocational
rehabilitation shall be budgeted and accounted for as provided by law and by the rules
of the department of finance and administration. These funds or grants shall be
disbursed by warrants of the department of finance and administration on vouchers
issued by the director of the vocational rehabilitation division or the director’s authorized
representative.

   D. All federal aid funds received by the state to be used for vocational education or
vocational rehabilitation programs may be expended in any succeeding year from the
year received.

History: 1953 Comp., § 77-12-8, enacted by Laws 1967, ch. 16, § 198; 2005, ch. 328, §
7.

                                      ANNOTATIONS

Cross references. — For provisions relating to custody, budgeting and disbursement of
federal aid funds generally, see 22-9-5 NMSA 1978.

The 2005 amendment, effective June 17, 2005, changed "vocational education" to "the
instructional support and vocational education division"; provided that warrants may be
issued by the director's authorized representative in Subsection B and provided in
Subsection C that warrants may be issued by the vocational rehabilitation division or the
director's authorized representative.