Cash Control

The purpose of the Cash Control Bureau is to prepare accurate and timely statewide cash and investment reconciliations. Cash and investment reconciliation is a critical internal control function that assists the State in determining the amount of resources that are available to be spent. The Bureau’s functions include:

• Performing monthly reconciliations with the balances and accounts kept by the state treasurer pursuant to Section 6-5-2.1.J. NMSA 1978.
• Adopting and promulgating rules regarding reconciliation for state agencies pursuant to Section 6-5-2.1.J. NMSA 1978.
• Identifying and resolving discrepancies between the cash and investment balances recorded in the SHARE (Statewide Human Resources, Accounting, and Management Reporting) System general ledger at a point in time and the balance according to the bank as of the same point in time.
• Establishing internal control procedures to safeguard the State’s cash and investment assets, prevent bank overdrafts, and ensure that SHARE general ledger cash and investment balances are accurate.