DOIT SOFTWARE REPLACEMENT PLAN & FUNDING

SRC/SB 132
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AN ACT
RELATING TO TECHNOLOGY; EXPANDING THE DEPARTMENT OF
INFORMATION TECHNOLOGY'S EQUIPMENT REPLACEMENT PLANS TO
INCLUDE SOFTWARE; RENAMING THE EQUIPMENT REPLACEMENT
REVOLVING FUNDS AS THE EQUIPMENT AND SOFTWARE REPLACEMENT
REVOLVING FUNDS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 9-27-11 NMSA 1978 (being Laws 2008,
Chapter 84, Section 2, as amended) is amended to read:
"9-27-11. EQUIPMENT AND SOFTWARE REPLACEMENT PLANS--
EQUIPMENT AND SOFTWARE REPLACEMENT REVOLVING FUNDS.--
A. In order to plan for the expenditure of capital
investments necessary to provide goods and services to the
state and its agencies and to local public bodies and other
enterprise customers, the department shall establish and
maintain an equipment and software replacement plan for each
of the department's enterprise functions. No later than
September 1 of each year, the plans shall be submitted to the
department of finance and administration and the legislature,
accompanied by a reconciliation report of the preceding
fiscal year reflecting financial activity in each of the
equipment and software replacement revolving funds
established pursuant to this section.
B. Upon the request of the secretary, the state
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treasurer shall establish in the state treasury such
"equipment and software replacement revolving funds" as are
necessary to administer each of the department's enterprise
functions. The revolving funds shall consist of legislative
appropriations to the funds and transfers made to the funds
pursuant to Subsection C of this section. Income from
investment of the revolving funds shall be credited back to
the funds, and money in the funds shall not revert at the end
of a fiscal year. Expenditures from the funds shall only be
made pursuant to an appropriation from the legislature and
only for the purpose of acquiring and replacing capital
equipment and software used to provide enterprise services
pursuant to the department's equipment and software
replacement plans.
C. The department shall record amounts due to the
equipment and software replacement revolving funds each fiscal
year, based on the calculation of amortization and
depreciation applicable to each enterprise service as
reflected in the department's published cost structures for
calculation of rates for services. Transfers to the funds
shall be made from the operating funds of each enterprise in
amounts that reconcile with the recorded amounts due. The
recording of amounts due to the equipment and software
replacement revolving funds and the transfer of the funds
shall be consistent with generally accepted accounting
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principles.