New Mexico Higher Education Department
Institutional Finance Division
Overview
The Institutional Finance Division provides fiscal oversight to the state’s 24 publicly funded colleges and universities and three special schools. The Division works in coordination with officials and staff from Institutions, the Department of Finance and Administration, the Legislative Finance Committee, and the Office of State Auditor.
Fiscal oversight activities include but are not limited to audits, reviews, and approvals of:
- Annual Audits;
- Dispositions of Real and Personal Property;
- Endowment Funds;
- Fiscal Health and Solvency;
- Fiscal Management Systems;
- Fraud, Waste, and Abuse;
- Funding Formula Data;
- Independent Public Auditor Contracts;
- Long-Term Debt;
- Mill Levy Funding Calculations;
- Operating Budget and Budget Adjustment Requests;
- Procurement Activities; and,
- Research and Public Service Projects.
The Division utilizes the “Institutional Finance Running Schedule” (see web link below) which provides dates that fiscal documentation and data are due as required by state statutes and regulations. In addition, the schedule identifies the HED Finance Division staff member specifically responsible for each requirement listed on the Running Schedule.
Finance Division Contacts
Interim Director of Finance, Dr. Harrison Rommel @ Harrison.Rommel@state.nm.us
Senior Financial Coordinator, Paula Escudero @ Paula.Escudero2@state.nm.us
Financial Coordinator, Loretta Marquez @ Loretta.Marquez@state.nm.us
Institutional Auditor, Scott Eccles @ Scott.Eccles@state.nm.us