A. Each local school board or governing body of a state-chartered charter school shall submit annually, on or before October 15, to the department:
(1) an estimate for the succeeding fiscal year of:
(a) the membership of qualified students to be enrolled in the basic program;
(b) the full-time-equivalent membership of students to be enrolled in approved early childhood education programs; and
(c) the membership of students to be enrolled in approved special education programs;
(2) all other information necessary to calculate program costs; and
(3) any other information related to the financial needs of the school district or state-chartered charter school as may be requested by the department.
B. All information requested pursuant to Subsection A of this section shall be submitted on forms prescribed and furnished by the department and shall comply with the department's rules and procedures.
C. The department shall:
(1) review the financial needs of each school district or state-chartered charter school for the succeeding fiscal year; and
(2) submit annually, on or before November 30, to the secretary of finance and administration the recommendations of the department for:
(a) amendments to the public school finance formula;
(b) appropriations for the succeeding fiscal year to the public school fund for inclusion in the executive budget document; and
(c) appropriations for the succeeding fiscal year for pupil transportation and instructional materials.
History: 1953 Comp., § 77-6-13.1, enacted by Laws 1978, ch. 128, § 5; 1980, ch. 151, § 48; 1988, ch. 64, § 23; 1993, ch. 226, § 20; 1999, ch. 291, § 7; 2006, ch. 94, § 7.
ANNOTATIONSCross references. — For transfer of powers and duties of former state board, see 9-24-15 NMSA 1978.
The 2006 amendment, effective July 1, 2007, added governing body of a state-chartered charter school in Subsection A and added state-chartered charter school in Paragraph (3) of Subsection A and Paragraph (1) of Subsection C.
The 1999 amendment, effective April 8, 1999, added "Membership projections and" to the beginning of the section heading, and substituted "department's rules and procedures" for "manual of accounting and budgeting published by the department" at the end of Subsection B.
The 1993 amendment, effective July 1, 1993, deleted "average daily" preceding "membership" in subparagraphs (a) to (c) of Paragraph (1) of Subsection A; deleted former Subsection B, pertaining to the budget request of the state board for pupil transportation and textbooks; redesignated former Subsections C and D as Subsections B and C; added Subparagraph (c) of Paragraph (2) of Subsection C; and made a minor stylistic change.
The 1988 amendment, effective May 18, 1988, substituted "department" for "division" throughout the section; substituted "department" for "director of the public school finance division" in Subsection D; and in Subsection D(2), substituted "November 30" for "November 15" and "state board" for "public school finance division".
Effect of actual costs exceeding program costs. — A charter school has no right to additional funding if capital expenditures or any other expenditure becomes so great that its actual costs far exceed its "program costs". Taos Mun. Schs. Charter Sch. v. Davis, 2004-NMCA-129, 136 N.M. 543, 102 P.3d 102, cert. denied, 2004-NMCERT-010, 136 N.M. 542, 101 P.3d 808.