{"data":{"id":"us-nm/22-8-39","jurisdiction":"us-nm","citation":"22-8-39","heading":"Boards of finance; suspension.","body":"The department may at any time suspend a local school board or governing body of a state-chartered charter school from acting as a board of finance if the department reasonably believes there is mismanagement, improper recording or improper reporting of public school funds under the local school board's or governing body of a state-chartered charter school's control. When a local school board or governing body of a state-chartered charter school is suspended from acting as a board of finance, the department shall:\nA. immediately take control of all public school funds under the control of the local school board or governing body of a state-chartered charter school acting as a board of finance;\nB. immediately have an audit made of all funds under the control of the local school board or governing body of a state-chartered charter school acting as a board of finance and charge the cost of the audit to the school district or state-chartered charter school;\nC. act as a fiscal agent for the school district or state-chartered charter school and take any action necessary to conform the fiscal management of funds of the school district or state-chartered charter school to the requirements of law and good accounting practices;\nD. report any violations of the law to the proper law enforcement officers;\nE. act as fiscal agent for the school district or state-chartered charter school until the department determines that the local school board or governing body of a state-chartered charter school is capable of acting as a board of finance or until the department determines that the county treasurer should act as fiscal agent for the school district or state-chartered charter school;\nF. inform the local school board or governing body of a state-chartered charter school in writing of the department's determination as to who is to act as board of finance or fiscal agent for the school district or state-chartered charter school and also inform the county treasurer in writing if it determines that the county treasurer should act as fiscal agent for the school district or state-chartered charter school; and\nG. consider commencing proceedings before the commission to suspend, revoke or refuse to renew the charter of the state-chartered charter school in the case of a state-chartered charter school that has engaged in serious or repeated mismanagement, improper recording or improper reporting of public school funds under its control.","path":["Chapter 22 - Public Schools","ARTICLE 8 Public School Finance"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18522/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"b13519783d6f7ecb9ea1ca3f769f973e9097df423cc53a9aec7411ea3b1a6b4b","source_id":"us-nm","stale":false,"prev":"us-nm/22-8-38","next":"us-nm/22-8-40"},"notice":"GroundRules: Original legal text. Not legal advice."}