A. The “public school fund” is created.

Terms Used In New Mexico Statutes 22-8-14

  • 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.

B. The public school fund shall be distributed to school districts and state-chartered charter schools in the following parts:

(1)     state equalization guarantee distribution; (2)     transportation distribution; and

(3)     supplemental distributions:

(a) out-of-state tuition to school districts; (b) emergency; and

(c) program enrichment.

C. The distributions of the public school fund shall be made by the department within limits established by law. The balance remaining in the public school fund at the end of each fiscal year shall revert to the general fund, unless otherwise provided by law.

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