Oversight
The New Mexico Department of Finance and Administration (DFA) and the Office of the State Auditor (OSA) exercise statutory oversight over all State, County, and Local Governments in order to watch over how public dollars are collected, managed, and expensed. The DFA reviews and approves all budgets and requires filing of quarterly and annual financial reports. The State Auditor requires each entity to provide and file an independent annual audit.
Financial Cycle
• February through April – District staff begin developing operating and capital budgets for the next Fiscal Year beginning July 1. Draft budgets are reviewed by the District Board during regular meetings.
• May – District Board approves a Preliminary Budget which is filed with the State no later than May 31. The Board also publishes notice of any proposed rate increases. The State reviews and approves the Preliminary Budget.
• July 1 – New budget becomes effective.
• July – District Board approves a Final Budget which is filed with the State no later than July 31. The Board holds a Public Hearing on any proposed rate increases. The State reviews and approves the Final Budget.
• September 1 – rate changes become effective
• October through January – District prepares Water Trust Board and Capital Outlay Funding requests and submits to the State
• Mid-January through mid-February or March – Legislature funds Water Trust Board and Capital Outlay projects.
Budgets and Financial Statements
Budgets and Financial statements are available for public inspection at the District’s offices during normal working hours.