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 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.
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: Dr. Harry Rommel, Director of Academic Finance or Debbie Garcia, Senior Budget Analyst
If you need assistance with access to online budget system submittal system, please contact Brittany Gutierrez, IF Division Data Analyst
NMHED is pleased to announce the Initial Higher Education Endowment Fund (HEEF) Awardees for FY22 per the first application cycle and the second application cycle.
A second funding opportunity in now available from the Higher Education Endowment Fund for Fiscal Year 2022. The available funding for this second cycle is $1,383,500 for Research Universities and $600,000 for Comprehensive Universities. Completed applications for the second round are due to the Department by March 31, 2022
Second Round Higher Education Endowment Application Template for FY22 Awards
Matching fund deadlines for anticipated disbursements are included in both the Awardee notification and the Second Round application. Funds which are not distributed by June 30th will carry forward into FY23.
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 send us a message.