Public Funds

All University funds are State/Public Funds - Property belonging to the Government

All University Funds, regardless of their source, are public funds and are subject to all New Mexico laws and regulations related to public funds. Contrary to popular belief, funds do not have to be appropriated to the University from the State Legislature or granted to the University from a State agency to be considered State funds/public funds under State law.  In determining the public nature of University funds, the actual source from where UNM funds originated is essentially irrelevant.  What is instead crucial to understanding this concept begins with recognizing what type of legal entity that the University of New Mexico is.  The University was not created as a business or even as a non-profit organization, but rather was created by the New Mexico Legislature as one of many entities that comprise the State of New Mexico government.  With that understanding, all University funds are State/public funds, not because of where the funds came from (source of funds), but instead because the University is a governmental entity, part of the State of New Mexico government, and all funds belonging to a New Mexico Governmental entity are New Mexico public funds.  The fact that all University funds are State/public funds has been upheld by the New Mexico Courts, most notably in a case involving a UNM employee – State of New Mexico v Hearne, 1991.