The Higher Education Endowment Committee’s (HEEC) award process involves the review and ranking of proposals submitted by Institutions seeking Higher Education Endowment Funds (HEEF). As such, and in accordance with State Statute 21-1-38 and NMAC 220.127.116.11B(2), HED’s Finance Division is tasked with ensuring initial appropriations are intact and that income from investments are being expended for allowable activities.
Therefore, HED is requesting Institutions submit a spreadsheet by July 15th of each year that provides the status of all legislative Higher Education Endowment Funds appropriated to the Institution as of June 30th, including:
(a) Original appropriation amount;
(b) Percentage and amount of matching funds applied to original appropriation;
(c) Total income from investment of original appropriation;
(d) Endowment fund balance (includes original appropriation amount and investment income); and,
(e) All activities currently being supported by the investment income from each endowment (please be specific).
Provide comments/details if endowment fund balance is less than original appropriation i.e. investment market downturn.
Clarification: Spreadsheets due July 15th, 2016 to provide status as of June 30, 2016.
Please submit (1) Spreadsheet, and (2) The endowment certification form (see web link below) to:
HED Contact: Director of Finance | Harrison Rommel
Endowment Fund Certification
CONTACT US: If you require additional guidance on how to direct your question or are not able to locate the information you are looking for on the New Mexico Higher Education Department's website, please email HigherEd.Info@state.nm.us.