New Mexico Statutes 4-58-6. Conditions of grants-in-aid
A. Whenever funds are appropriated to be used for making grants-in-aid authorized in the Planning District Act, the secretary of the department of finance and administration shall notify the respective boards of directors of the regional councils of the amount allocated to the district and shall notify the regional council that applications for grants-in-aid may be made upon forms provided by the secretary. Upon receipt of the application, the secretary shall determine that:
Terms Used In New Mexico Statutes 4-58-6
- 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.
(1) the regional council applying for a grant-in-aid is officially recognized for a designated district;
(2) the governing board of the regional council certifies that a budget has been adopted for the expenditure of state and local funds for purposes consistent with the Planning District Act;
(3) the regional council has obtained nonfederal matching funds or services, or both, from local governments or private sources at least equal to the amount of the state grant-in-aid. The president or treasurer of the board of directors of the regional council shall certify from time to time that the matching funds from local or private sources are on deposit to the organization’s own account before quarterly payment of a state grant-in-aid is made to the regional council; and
(4) at the end of each fiscal year, an audited report of expenditures of the regional council will be submitted to the secretary, that any state funds unexpended on June 30 each year will revert to the general fund and that, if the regional council has used any state funds for any purpose not within the purposes of the Planning District Act, the amount shall be reimbursed to the state.
B. The secretary shall review any application for a grant-in-aid, and if it is determined that the regional council is qualified to receive money under the Planning District Act, the grant-in-aid shall be paid to the regional council on a dollar-for-dollar matching basis of funds or services, or both, provided from local or private nonfederal sources, but the total of all grants-in-aid within a planning and development district shall not exceed the amount allocated to that district for the fiscal year. All or part of the state and local funds or services, or both, may be used to qualify for matching federal funds to be used for the purposes of the Planning District Act. If any planning and development district does not qualify for the total amount of grants-in-aid allocated to it during any fiscal year because of the lack of required matching funds or services, or both, from nonfederal local or private sources, the amount thereof for which the district does not qualify shall revert to the state general fund and shall not be apportioned for payment to any other district.