Endowments

Higher Education Endowment Fund Annual Reporting

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 NMSA § 21-1-38 and NMAC 5.3.6.10B(2), HED’s Finance Division is tasked with ensuring initial appropriations are intact and that income from investments are being expended for allowable activities.

Pursuant to NMSA §21-1-27.1 HED is required to provide an annual report to the Legislative Finance Committee detailing the status of all HEEF awards.  To facilitate this effort, Higher Education Institutions that have been awarded funding from the HEEF will need to submit annually a certification form as well as provide a summary spreadsheet* by September 15th of each year to HED that provides the June 30th status of all legislative Higher Education Endowment Funds awarded to the Institution.  Required reporting information shall include:

(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.

*Summary spreadsheet = HED is providing a standardized template however if you already have one that contains the required information above we will be happy to accept your established version.

Endowment Certification Template                Endowment Fund Summary Template

Per the Institutional Finance Divisions Running Schedule, annual reporting submissions are due to HED by September 15th, submission dates falling on a weekend will be accepted by the COB on the next working day.

NMHED has transitioned this annual reporting to an online submittal process.  After the two forms above have been downloaded and completed you may submit them via the NMHED online portal : https://budget.nmhed.us/

Questions pertaining to this annual submission may be directed to: Gerald Hoehne, Interim Director of Institutional Finance.