Board of Finance Suspension Sample Clauses

Board of Finance Suspension. If at any time, the Governing Body’s qualification as a Board of Finance is suspended by the Department pursuant to §22-8-39 NMSA 1978 or otherwise, the Commission shall consider whether to issue a notice of breach under the Intervention Ladder as defined by the Commission Rule or commence proceedings to revoke or non-renew the charter for failing to meet generally accepted standards of fiscal management as contemplated by §22-8B-12(K)(2) NMSA 1978. If the Commission decides not to revoke or does not deny a School’s renewal because of the Department’s suspension of the board of finance, the Governing Body shall be required to develop and successfully implement a Commission-approved Corrective Action Plan in consultation with the Department to address the reasons for the suspension of the board of finance designation to obtain this designation again within a reasonable time.
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Board of Finance Suspension. If at any time, the GOVERNING BOARD’s qualification as a board of finance is suspended by the Department pursuant to NMSA 22-8-39, the COMMISSION shall consider whether to commence proceedings to suspend, revoke or non-renew the charter due to serious or repeated mismanagement, improper recording or improper reporting of public school funds under its control. If the COMMISSION decides not to revoke the charter, the GOVERNING BOARD shall be required to develop and successfully implement a Corrective Action Plan in consultation with the Department to address the conditions and causes that raised for consideration the suspension of the board of finance designation.
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Board of Finance Suspension. If at any time, the GOVERNING BODY’s 14 qualification as a Board of finance is suspended by the Department pursuant to NMSA 1978, § 22-8-39, 15 the COMMISSION shall consider whether to issue a notice of breach as defined by the Rule or 16 commence proceedings to revoke or non-renew the charter for failing to meet generally accepted 17 standards of fiscal management as contemplated by NMSA 1978, §22-8B-12(K)(2). If the COMMISSION 18 decides not to revoke or does not deny a School’s renewal because of the Department’s suspension of 19 the board of finance, the GOVERNING BODY shall be required to develop and successfully implement a 20 commission-approved Corrective Action Plan in consultation with the Department to address the 21 reasons for the suspension of the board of finance designation to obtain this designation again within a 22 reasonable time.
Sample 1

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