New Mexico Statutes 34-13-1. Judicial education fund created; administration; income to the fund
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A. The “judicial education fund” is created in the state treasury and shall be administered by the administrative office of the courts. Money in the fund shall be invested by the state treasurer as provided by law and earnings of the fund shall be credited to the fund. Unexpended or unencumbered balances remaining in the fund at the end of any fiscal year shall not revert.
Terms Used In New Mexico Statutes 34-13-1
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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. Money from the fund may only be expended upon appropriation by the legislature.
C. The judicial education fund consists of general appropriations, as well as gifts, grants, donations and other appropriations to the fund and distributions to the fund made pursuant to the Tax Administration Act [N.M. Stat. Ann. Chapter 7, Article 1].