New Mexico Statutes 9-4A-22. State museums improvements and exhibits fund created;
use.
Terms Used In New Mexico Statutes 9-4A-22
- 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.
A. The “state museums improvements and exhibits fund” is created in the state treasury. The fund consists of:
(1) money appropriated and transferred to the fund; (2) gifts, grants, donations and bequests; and
(3) fifteen percent of the state museums’ admission fees, facilities rentals and revenues earned from licensure or sale of intellectual property.
B. Earnings from investment of the state museums improvements and exhibits fund shall be credited to the fund. Money in the fund is appropriated to the department to be distributed to state museums pursuant to the provisions of this section. Any unexpended or unencumbered balance remaining at the end of a fiscal year shall not revert. Disbursements from the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of cultural affairs.
C. Money in the state museums improvements and exhibits fund shall be expended by the department for development, implementation and maintenance of exhibitions at state museums and for maintenance and repairs of state museum facilities. Revenues in the fund earned by a specific division shall be expended by that division.
D. As used in this section, “state museum” means a museum, historic site, monument, cultural center or laboratory administered by the department.