New Mexico Statutes 21-12-21. New Mexico military institute; transfer of budget balances
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With the approval of the higher education department, the board of regents of the New Mexico military institute may, each fiscal year, transfer up to five hundred thousand dollars ($500,000) of the institute’s budget balances, including existing scholarship endowments, to the Luciano “Lucky” Varela opportunity scholarship fund established to implement the Luciano “Lucky” Varela opportunity scholarship.
Terms Used In New Mexico Statutes 21-12-21
- 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.