SENATE BILL 362
56th legislature - STATE OF NEW MEXICO - first session, 2023
Roberto "Bobby" J. Gonzales
MAKING AN APPROPRIATION TO THE OFFICE OF THE STATE AUDITOR FOR AN INDEPENDENT STUDY ON THE FEASIBILITY AND COST OF REPLACING THE STATE'S CURRENT AGENCY-BY-AGENCY ANNUAL FINANCIAL AUDIT PROCESS WITH A SINGULAR AUDIT OF ALL STATE AGENCIES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. APPROPRIATION.--One hundred thousand dollars ($100,000) is appropriated from the general fund to the office of the state auditor for expenditure in fiscal year 2024 for an independent study on the feasibility and cost of replacing the state's current agency-by-agency annual financial audit process with a singular state audit of all state agencies for completion of the annual comprehensive financial report. Any unexpended or unencumbered balance remaining at the end of fiscal year 2024 shall revert to the general fund.