New Mexico Statutes 21-12-15. New Mexico military institute; transfer of budget balances
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With the approval of the commission on higher education [higher education department], the board of regents of New Mexico military institute may, each fiscal year, transfer up to five hundred thousand dollars ($500,000) of the institute’s budget balances to the legislative scholarship fund established to implement the General Richard T. Knowles legislative scholarship program.
Terms Used In New Mexico Statutes 21-12-15
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.