Budget and Financial Packet10 2020 Budget and Financial Packet STATE BAR AND BAR FOUNDATION 2020...
88
2020 Budget and Financial Packet State Bar of New Mexico New Mexico Bar Foundation
Transcript of Budget and Financial Packet10 2020 Budget and Financial Packet STATE BAR AND BAR FOUNDATION 2020...
2020 Budget and Financial Packet
State Bar of New MexicoNew Mexico Bar Foundation
State Bar of New Mexico | New Mexico Bar Foundation 3
Table of Contents
1. 2020 Budgets ........................................................................................5State Bar of New MexicoBBC Approved ......................................................................................................................6 Mini Budget: BBC and Executive Director Travel .........................................................9 Mini Budget: IT ...................................................................................................................10 Mini Budget: Regulatory Program Revenues ................................................................ 11New Mexico State Bar FoundationBBC Approved ....................................................................................................................14 Mini Budget: IT ...................................................................................................................16
2. Five Year Historical Comparison ........................................................... 17State Bar of New MexicoFinancial Dashboard .........................................................................................................18 Summary ............................................................................................................................ 20 Statement of Financial Position .....................................................................................21 Statement of Activities ................................................................................................... 24New Mexico State Bar FoundationFinancial Dashboard ........................................................................................................ 28 Summary ............................................................................................................................ 30 Statement of Financial Position ..................................................................................... 31 Statement of Activities .................................................................................................. 34
3. 2019 Year End Financial Statements (Unaudited) .................................. 37State Bar of New MexicoStatement of Financial Position .................................................................................... 38 Statement of Activities ...................................................................................................40 Statement of Cashflows ................................................................................................. 42 Executive Summary .......................................................................................................... 43ATJ Fund Grant Commission ...........................................................................................47 JLAP .................................................................................................................................... 48 CPF ..................................................................................................................................... 50New Mexico State Bar FoundationStatement of Financial Position .................................................................................... 52 Statement of Activities ....................................................................................................53 Statement of Cashflows ..................................................................................................55 Executive Summary ...........................................................................................................56
4. Memorandum of Understanding............................................................59
5. Financial Policies ................................................................................. 73
6. Investment Policy ................................................................................81
4 2020 Budget and Financial Packet
2020 Budgets
State Bar of New Mexico | New Mexico Bar Foundation 5
6 2020 Budget and Financial Packet
STAT
E BA
R O
F N
EW M
EXIC
O 2
020
PRO
POSE
D BU
DGET
BY D
EPAR
TMEN
T
APPR
OVE
D BY
BBC
10/
25/2
019
OG
C &
Acc
ount
REG
ULA
TORY
MEM
BER
2020
2019
Num
ber
Acc
ount
Nam
eG
OV
ERN
AN
CEA
DM
INFA
CILI
TIES
PRO
GRA
MS
SERV
ICES
COM
MBU
DG
ETBU
DG
ET1 2
4000
Lice
nsin
g Fe
es -
Acti
ve1,
903,
000
1,
903,
000
1,86
7,85
0
3
4010
Lice
nsin
g Fe
es -
Inac
tive
205,
000
205,
000
20
5,00
0
442
00La
te P
aym
ent P
enal
ty
40,0
00
40,0
00
35
,000
5LI
CEN
SIN
G R
EVEN
UE
-
-
-
2,14
8,00
0
-
-
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0
2,
107,
850
6 742
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min
istr
ativ
e Fe
es22
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22,0
00
21
,000
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00Ad
vert
isin
g26
0,00
0
26
0,00
0
175,
000
9
4725
Dig
ital
Pri
nt C
ente
r - O
utsi
de P
rodu
ctio
n20
,000
20
,000
45,0
00
10
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Part
icip
ant F
ees
1,00
0
1,
000
18
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1143
00In
tere
st E
arne
d2,
000
2,
000
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000
12
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ber B
enef
its P
rogr
am11
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11
,000
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00
13
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bers
hip
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a Li
st1,
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0
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0
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ntal
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000
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000
12
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0
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riou
sRe
gula
tory
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gram
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0
32
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0
320,
000
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ion
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bers
hip
- Due
s60
,000
60
,000
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00
17
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ping
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enue
-
1,
500
18
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crip
tion
s
20,0
00
20,0
00
33
,000
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ON
-DU
ES R
EVEN
UE
-
24,0
00
14
0,00
0
32
8,00
0
72
,000
30
1,50
0
86
5,50
0
812,
000
20 21
TOTA
L RE
VEN
UE
-
24,0
00
14
0,00
0
2,
476,
000
72
,000
30
1,50
0
3,
013,
500
2,91
9,85
0
22 23
vari
ous
Empl
oyee
Com
pens
atio
n, B
enef
its &
Tax
es43
7,90
0
26
0,10
0
40
2,43
3
15
8,20
0
30
8,76
7
1,
567,
400
1,49
5,50
0
24 25
6100
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rtis
ing/
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keti
ng1,
500
1,
500
1,
500
26
6435
Awar
ds/H
onor
s/Re
cogn
itio
n4,
500
4,
500
4,
000
27
6125
Bank
Fee
s1,
500
1,
500
50
0
28
6385
BBC
- Mee
ting
s/G
over
nanc
e 45
,500
45
,500
38,0
00
29
6315
BBC
- Tra
vel &
Con
fere
nces
28
,000
28
,000
28,0
00
30
6397
BBC
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reac
h D
onat
ions
5,
000
5,
000
5,
000
31
6319
BBC
- AM
Pas
t Pre
side
nt's
Din
ner
20,0
00
20,0
00
12
,000
3263
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C - C
omm
issi
oner
Dis
tric
t Ann
ual E
vent
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000
6,
000
-
3365
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edit
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d M
erch
ant F
ees
5,00
0
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0
4,00
0
3461
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atab
ase
Infr
astr
uctu
re U
pgra
de S
tudy
-
60
,000
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igit
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rint
Cen
ter -
Pro
duct
ion
24,5
00
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00
12
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0
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igit
al P
rint
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ter -
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ect M
ater
ials
8,00
0
8,
000
33
,000
BB
C A
ppro
ved
STAT
E BA
R O
F N
EW M
EXIC
O
State Bar of New Mexico | New Mexico Bar Foundation 7
STAT
E BA
R O
F N
EW M
EXIC
O 2
020
PRO
POSE
D BU
DGET
BY D
EPAR
TMEN
T
APPR
OVE
D BY
BBC
10/
25/2
019
OG
C &
Acc
ount
REG
ULA
TORY
MEM
BER
2020
2019
Num
ber
Acc
ount
Nam
eG
OV
ERN
AN
CEA
DM
INFA
CILI
TIES
PRO
GRA
MS
SERV
ICES
COM
MBU
DG
ETBU
DG
ET37
6380
Dir
ect S
uppl
ies -
Pro
f Dev
Cen
ter
7,50
0
7,
500
5,
000
38
6115
Due
s & S
ubsc
ript
ions
3,55
0
1,61
0
3,
356
319
16
5
9,00
0
10,0
00
39
6108
Furn
itur
e an
d Eq
uipm
ent
16,5
00
16
,500
8,00
0
4069
90In
-Kin
d Su
ppor
t of N
M B
ar F
ound
atio
n50
,700
74,6
00
125,
300
12
6,60
0
4161
20In
form
atio
n Te
chno
logy
15
4,40
0
15
4,40
0
157,
400
42
6170
Insu
ranc
e Ex
pens
e 41
,770
41,7
70
38
,700
4362
01In
tere
st E
xpen
se1,
370
53
,200
6,
550
61,1
20
56
,700
4460
30Ja
nito
rial
& S
uppl
ies
28,9
00
28,9
00
24
,900
4562
65JL
AP S
uppo
rt P
rovi
ded
by S
tate
Bar
80,0
00
80,0
00
80
,000
4660
35La
ndsc
ape
Mai
nten
ance
-Gen
eral
6,50
0
6,
500
5,
300
47
NEW
Lega
l Spe
cial
izat
ion
20,0
00
20,0
00
-
4860
75M
ento
rshi
p - C
LE F
ees
25,0
00
25,0
00
23
,000
4963
93M
ileag
e Re
imbu
rsem
ent
1,00
0
1,00
0
2,
000
1,
000
50
6112
Offi
ce E
xpen
se -
Supp
lies
2,00
0
1,00
0
1,
000
1,00
0
1,
000
6,00
0
6,00
0
5163
95O
utre
ach
- Adm
inis
trat
ive
3,00
0
3,00
0
3,00
0
52N
EWO
utre
ach
- Mem
bers
hip
17,0
00
17,0
00
-
53N
EWO
utso
urce
d Pr
int P
rodu
ctio
n13
0,00
0
13
0,00
0
-
54
6270
Post
age
& D
eliv
ery
28,0
00
9,
000
37,0
00
53
,500
5561
05Pr
ofes
sion
al F
ees-
Leg
al &
Acc
ount
ing
29,0
00
29
,000
17,5
60
56
6050
Repa
irs &
Mai
nten
ance
15,8
00
15,8
00
15
,000
5765
95Ri
sk M
anag
emen
t Hot
line
10,0
00
10,0
00
6,
000
58
6055
Serv
ice
Cont
ract
s-G
ener
al10
,700
10
,700
14,6
00
59
6311
Prof
essi
onal
Dev
elop
men
t2,
000
2,
600
4,60
0
5,00
0
6062
90St
aff M
oral
e Fu
nd12
5
15
0
7,00
0
75
150
7,
500
7,
000
61
NEW
Trav
el E
xpen
se -
Exec
utiv
e D
irec
tor
12,5
00
12
,500
-
62
6310
Trav
el E
xpen
se -
Staf
f2,
000
800
4,
000
3,00
0
9,
800
18
,000
6362
40Ta
xes &
Fee
s Cor
pora
tion
41,5
50
41
,550
52,5
00
64
6440
Uti
litie
s- E
lect
ric
& G
as28
,000
28
,000
28,0
00
65
6470
Uti
litie
s- T
elep
hone
23,8
00
23,8
00
22
,900
6664
80U
tilit
ies-
Wat
er11
,700
11
,700
11,8
00
67
6485
Prop
erty
Tax
es16
,400
16
,400
17,6
00
68 69
Com
mit
tee
Act
ivit
y70
vari
ous
Stan
ding
Com
mit
tees
15,0
00
15,0
00
60
,000
7167
97Sp
ecia
l Com
mit
tees
500
500
500
7267
98Su
prem
e Co
urt C
omm
itte
es &
Com
mis
sion
s2,
000
2,
000
1,
500
73
STAT
E BA
R O
F N
EW M
EXIC
O 2
020
PRO
POSE
D BU
DGET
BY D
EPAR
TMEN
T
APPR
OVE
D BY
BBC
10/
25/2
019
OG
C &
Acc
ount
REG
ULA
TORY
MEM
BER
2020
2019
Num
ber
Acc
ount
Nam
eG
OV
ERN
AN
CEA
DM
INFA
CILI
TIES
PRO
GRA
MS
SERV
ICES
COM
MBU
DG
ETBU
DG
ET74
Div
isio
ns75
vari
ous
Youn
g La
wye
rs D
ivis
ion
67,1
50
67,1
50
65
,150
76va
riou
sSe
nior
Law
yers
Div
isio
n17
,750
17
,750
15,2
50
77 78
vari
ous
Sect
ions
60,0
00
60,0
00
60
,000
79
80
81TO
TAL
OPE
RATI
NG
EXP
ENSE
S10
7,00
0
83
7,86
5
54
1,96
0
47
2,18
9
42
1,49
4
49
1,13
2
2,
871,
640
2,82
2,46
0
82 83 84
TOTA
L O
PERA
TIN
G R
EVEN
UE
(LO
SS)
(107
,000
)
(813
,865
)
(401
,960
)
2,
003,
811
(3
49,4
94)
(189
,632
)
14
1,86
0
97,3
90
85 86
Deb
t Ser
vice
/Cap
ital
Out
lay/
Reve
nue
Rese
rves
87N
EWCa
pita
l Lea
se L
iabi
lity
- Aqu
os B
oard
s2,
960
2,96
0
-
88
NEW
Capi
tal L
ease
Lia
bilit
y - C
opie
rs3,
950
3,
950
-
8923
17Ca
pita
l Lea
se L
iabi
lity
- DPC
15,8
83
15,8
83
99
,500
9025
05M
ortg
age
- BO
W59
,050
59
,050
57,0
00
91
vari
ous
Capi
tal O
utla
y32
,760
32
,760
37,8
00
92
n/a
Surv
ey R
eser
ve6,
000
6,00
0
6,00
0
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aD
atab
ase
Infr
astr
uctu
re U
pgra
de12
0,00
0
12
0,00
0
30,0
00
94
95 96TO
TAL
REV
ENU
E (L
OSS
) AFT
ER O
THER
CA
SH
ITEM
S A
ND
BEF
ORE
DEP
RECI
ATI
ON
(107
,000
)
(817
,815
)
(496
,730
)
1,
883,
811
(3
55,4
94)
(205
,515
)
(9
8,74
3)
(132
,910
)
8 2020 Budget and Financial Packet
State Bar of New Mexico | New Mexico Bar Foundation 9
STAT
E BA
R AN
D BA
R FO
UNDA
TIO
N 2
020
PRO
POSE
D BU
DGET
BBC
AND
EXEC
UTIV
E DI
RECT
OR
TRAV
EL
TRAV
EL &
Acco
unt N
ame
CONF
EREN
CES
NOTE
S1 2
4,00
0.00
ABA
Mid
year
Mee
ting
(Aus
tin) -
2 @
$2,
000
each
34,
000.
00
AB
A Ba
r Lea
ders
hip
Inst
itute
(Chi
cago
) - 2
@ $
2,00
0 ea
ch4
4,00
0.00
Wes
tern
Sta
tes B
ar C
onfe
renc
e (S
cott
sdal
e) -
2 @
$2,
000
each
55,
000.
00
AB
A Da
y (W
ashi
ngto
n, D
.C.)
- 2 @
$2,
500
each
62,
000.
00
Ja
ckra
bbit
Bar C
onfe
renc
e - 1
@ $
2,00
07
4,00
0.00
ABA
Annu
al M
eetin
g (C
hica
go) -
2 @
$2,
000
each
81,
000.
00
Ot
her S
tate
Bar
Ann
ual M
eetin
gs -
1 @
$1,
000
94,
000.
00
Co
nfer
ence
Din
ners
with
NM
Del
egat
es10 11
BBC
- Tra
vel &
Con
fere
nces
28,0
00.0
0
12 13 142,
000.
00
AB
A M
idye
ar M
eetin
g (A
ustin
)15
2,00
0.00
ABA
Bar L
eade
rshi
p In
stitu
te (C
hica
go)
162,
000.
00
W
este
rn S
tate
s Bar
Con
fere
nce
(Sco
ttsd
ale)
172,
500.
00
AB
A Da
y (W
ashi
ngto
n, D
.C.)
182,
000.
00
Ja
ckra
bbit
Bar C
onfe
renc
e19
2,00
0.00
ABA
Annu
al M
eetin
g (C
hica
go)
20 21Tr
avel
Exp
ense
- Ex
ecut
ive
Dire
ctor
12,5
00.0
0
22 23 24TO
TAL E
XPEN
SES
40,5
00.0
0
10 2020 Budget and Financial Packet
STAT
E BA
R AN
D BA
R FO
UNDA
TIO
N 2
020
PRO
POSE
D BU
DGET
INFO
RMAT
ION
TECH
NOLO
GY
Acco
unt N
ame
Stat
e Ba
rFo
unda
tion
Tota
lNO
TES
1 227
,216
.00
15
,984
.00
43
,200
.00
se
rver
hos
ting,
clou
d st
orag
e, b
acku
ps, d
isast
er re
cove
ry3
13,4
76.0
0
7,91
4.00
21,3
90.0
0
IT m
anag
ed se
rvice
s, se
curit
y/m
aint
enan
ce so
ftwar
es4
6,30
0.00
3,70
0.00
10,0
00.0
0
cons
ulta
nt se
rvice
s and
supp
ort
5-
66
,110
.00
66
,110
.00
CL
E sa
les p
latfo
rm a
nd w
ebca
stin
g ap
plica
tion
628
,800
.00
-
28
,800
.00
Fa
stca
se le
gal r
esea
rch
softw
are
746
,956
.00
27
,444
.00
74
,400
.00
iM
IS m
embe
r dat
abas
e, n
ew A
MS,
and
Inta
cct a
ccou
ntin
g so
ftwar
es8
20,4
00.0
0
-
20,4
00.0
0
PACL
E/CL
ECTS
softw
are
for M
CLE
94,
032.
00
2,
368.
00
6,
400.
00
em
ail l
icens
es, C
onst
ant C
onta
ct, d
omai
n/SS
L cer
tifica
te re
new
als
10-
9,
600.
00
9,
600.
00
Pi
ka so
ftwar
e ho
stin
g an
d su
ppor
t (LR
EP)
112,
400.
00
-
2,
400.
00
Pr
oWor
kflo
w b
illin
g so
ftwar
e (D
PC)
124,
820.
00
2,
990.
00
7,
810.
00
ot
her s
oftw
are
appl
icatio
ns (J
otFo
rms,
Sprin
g CM
, Ado
be C
reat
ive
Clou
d,
Surv
ey M
onke
y, T
imel
y, Is
suu,
Acc
umai
l)13 14
Info
rmat
ion
Tech
nolo
gy15
4,40
0.00
13
6,11
0.00
29
0,51
0.00
15 16
Furn
iture
and
Equ
ipm
ent
14,8
00.0
0
3,90
0.00
18,7
00.0
0
repl
acem
ent o
f old
com
pute
rs, m
onito
rs, p
hone
s, an
d pr
ojec
tors
17 18TO
TAL E
XPEN
SES
169,
200.
00
14
0,01
0.00
309,
210.
00
State Bar of New Mexico | New Mexico Bar Foundation 11
STAT
E BA
R AN
D BA
R FO
UN
DATI
ON
202
0 PR
OPO
SED
BUDG
ETRE
GULA
TORY
PRO
GRAM
REV
ENU
ES
REGU
LATO
RYAc
coun
t Nam
eRE
VEN
UE
NO
TES
1 215
,000
.00
Pr
o Ha
c Vice
fees
335
,000
.00
Br
idge
The
Gap
Men
tors
hip
fees
427
,000
.00
M
CLE
atto
rney
cred
it fil
ing
fees
586
,000
.00
M
CLE
prov
ider
cred
it fil
ing
fees
638
,000
.00
M
CLE
prov
ider
cour
se a
pplic
atio
n fe
es7
12,0
00.0
0
MCL
E ac
cred
ited
prov
ider
rene
wal
fees
811
5,00
0.00
MCL
E la
te co
mpl
ianc
e fe
es9 10
Regu
lato
ry R
even
ue32
8,00
0.00
11 12TO
TAL
REVE
NU
ES32
8,00
0.00
12 2020 Budget and Financial Packet12 2020 Budget and Financial Packet
State Bar of New Mexico | New Mexico Bar Foundation 13
2020 Budgets
State Bar of New Mexico | New Mexico Bar Foundation 13
14 2020 Budget and Financial Packet
NM
STA
TE B
AR F
OUN
DATI
ON
202
0 PR
OPO
SED
BUDG
ETBY
DEP
ARTM
ENT
APPR
OVE
D BY
BBC
10/
25/2
019
PUBL
ICCE
NTE
R FO
RA
ccou
ntLE
GA
LLE
GA
L20
2020
19N
umbe
rA
ccou
nt N
ame
SERV
ICES
EDU
CATI
ON
AD
MIN
BUD
GET
BUD
GET
1 240
00Li
ve S
emin
ar39
7,00
0
39
7,00
0
335,
000
3
4005
Vide
o Re
play
98,0
00
98,0
00
120,
000
4
4008
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sem
inar
s27
,000
27
,000
30
,000
5
4010
On-
Dem
and
Stre
amin
g &
DVD
50,0
00
50,0
00
53,0
00
640
09W
ebin
ars
30,6
00
30,6
00
20,0
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746
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st R
egis
trat
ion
306,
000
306,
000
30
0,00
0
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alk-
In F
ees
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2,
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E Co
urse
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eria
ls-
-
7,00
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4020
Prof
essi
onal
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elop
men
t Pac
kage
15
,000
15,0
00
10,0
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11CL
E RE
VEN
UE
-
924,
600
-
924,
600
87
7,50
0
12 1342
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ener
al R
efer
ral P
rogr
am25
,000
25
,000
25
,000
14
4625
Fund
rais
ing
Reve
nues
30,0
00
30,0
00
42,0
00
1546
20Ju
dici
al D
istr
ict P
ro B
ono
Com
mit
tee
Supp
ort
20,0
00
20,0
00
20,0
00
1645
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rant
Rev
enue
297,
000
297,
000
29
7,00
0
1743
00In
tere
st E
arne
d40
0
40
0
400
18
4860
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ind
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ort f
rom
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te B
ar12
5,30
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12
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0
126,
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19 20
vari
ous
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ual M
eeti
ng18
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0
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165,
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21 22
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L RE
VEN
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322,
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1,10
9,60
0
175,
700
1,60
7,30
0
1,55
3,50
0
23 24 2570
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E Pl
anni
ng1,
000
1,
000
1,00
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26
7011
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se M
ater
ials
- D
PC5,
000
5,
000
10,0
00
2770
60CL
E M
eals
& R
efre
shm
ents
35,0
00
35,0
00
30,0
00
2870
70Ac
cred
itat
ion
& F
iling
Fee
s27
,500
27
,500
22
,000
29
7090
Co-S
pons
orsh
ip T
eles
emin
ars
28,0
00
28,0
00
14,0
00
3071
30Ba
r Bul
leti
n Ad
vert
isin
g Ex
pens
e15
,000
15
,000
23
,000
31
7150
Facu
lty
Fees
35,0
00
35,0
00
30,0
00
3271
60Fa
cult
y Tr
avel
& L
odgi
ng30
,000
30
,000
30
,000
33
7180
Audi
o/Vi
sual
Rec
ordi
ng
40,0
00
40
,000
35
,000
34
CLE
PRO
GRA
M E
XPEN
SES
-
216,
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-
216,
500
19
5,00
0
BB
C A
ppro
ved
NEW
MEX
ICO
STA
TE B
AR
FOU
ND
ATIO
N
State Bar of New Mexico | New Mexico Bar Foundation 15
NM
STA
TE B
AR F
OUN
DATI
ON
202
0 PR
OPO
SED
BUDG
ETBY
DEP
ARTM
ENT
APPR
OVE
D BY
BBC
10/
25/2
019
PUBL
ICCE
NTE
R FO
RA
ccou
ntLE
GA
LLE
GA
L20
2020
19N
umbe
rA
ccou
nt N
ame
SERV
ICES
EDU
CATI
ON
AD
MIN
BUD
GET
BUD
GET
35 36va
riou
sEm
ploy
ee C
ompe
nsat
ion,
Ben
efit
s & T
axes
452,
315
204,
460
200,
715
857,
490
85
3,70
0
37 3861
00Ad
vert
isin
g/M
arke
ting
1,00
0
2,00
0
3,00
0
3,
000
39va
riou
sAn
nual
Mee
ting
Exp
ense
185,
000
185,
000
15
2,00
0
4061
25Ba
nk F
ees
400
400
20
0
4160
71Cr
edit
Car
d M
erch
ant F
ees
4,00
0
4,00
0
4,
000
4261
15D
ues &
Sub
scri
ptio
ns2,
700
37
5
65
0
3,
725
3,50
0
43
6133
Furn
itur
e &
Equ
ipm
ent
300
1,20
0
3,80
0
5,30
0
5,
100
44N
EWG
over
nanc
e5,
000
5,
000
-
45
6120
Info
rmat
ion
Tech
nolo
gy9,
600
66
,110
60
,400
13
6,11
0
130,
110
46
6765
Judi
cial
Dis
tric
t Pro
Bon
o Co
mm
itte
e Ex
pens
es20
,000
20
,000
20
,000
47
6112
Offi
ce E
xpen
ses -
Sup
plie
s1,
000
1,
000
2,
000
2,00
0
48
6625
Fund
rais
ing
Expe
nses
10,0
00
10,0
00
12,0
00
4967
25Ba
r Cen
ter E
xpen
se A
lloca
tion
102,
300
102,
300
10
4,60
0
5061
05Pr
ofes
sion
al F
ees-
Leg
al &
Acc
ount
ing
11,2
00
11,2
00
10,3
40
5161
70Pr
ofes
sion
al L
iabi
lity
Insu
ranc
e1,
920
1,
920
1,10
0
52
6270
Post
age
& D
eliv
ery
4,00
0
4,00
0
2,
000
53N
EWPu
blic
Out
reac
h3,
000
3,
000
-
54
6310
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f Edu
cati
on &
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vel
1,00
0
3,00
0
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0
5,
500
5562
90St
aff M
oral
e Fu
nd27
5
12
5
40
0
-
56
6240
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s & F
ees -
Cor
pora
tion
50
50
50
5766
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orks
hops
8,00
0
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0
8,
000
58 59TO
TAL
OPE
RATI
NG
EXP
ENSE
S47
9,19
0
67
9,77
0
42
4,43
5
1,
583,
395
1,
512,
200
60 61 62
TOTA
L O
PERA
TIN
G R
EVEN
UE
(LO
SS)
(157
,190
)
429,
830
(248
,735
)
23,9
05
41,3
00
63 64D
ebt S
ervi
ce a
nd C
apit
al O
utla
y65
vari
ous
Capi
tal O
utla
y19
,240
19
,240
22
,200
66
67 68
TOTA
L RE
VEN
UE
(LO
SS) A
FTER
OTH
ER C
ASH
IT
EMS
AN
D B
EFO
RE D
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CIA
TIO
N(1
57,1
90)
42
9,83
0
(2
67,9
75)
4,
665
19,1
00
15 2020 Budget and Financial Packet
16 2020 Budget and Financial Packet
STAT
E BA
R AN
D BA
R FO
UNDA
TIO
N 2
020
PRO
POSE
D BU
DGET
INFO
RMAT
ION
TECH
NOLO
GY
Acco
unt N
ame
Stat
e Ba
rFo
unda
tion
Tota
lNO
TES
1 227
,216
.00
15
,984
.00
43
,200
.00
se
rver
hos
ting,
clou
d st
orag
e, b
acku
ps, d
isast
er re
cove
ry3
13,4
76.0
0
7,91
4.00
21,3
90.0
0
IT m
anag
ed se
rvice
s, se
curit
y/m
aint
enan
ce so
ftwar
es4
6,30
0.00
3,70
0.00
10,0
00.0
0
cons
ulta
nt se
rvice
s and
supp
ort
5-
66
,110
.00
66
,110
.00
CL
E sa
les p
latfo
rm a
nd w
ebca
stin
g ap
plica
tion
628
,800
.00
-
28
,800
.00
Fa
stca
se le
gal r
esea
rch
softw
are
746
,956
.00
27
,444
.00
74
,400
.00
iM
IS m
embe
r dat
abas
e, n
ew A
MS,
and
Inta
cct a
ccou
ntin
g so
ftwar
es8
20,4
00.0
0
-
20,4
00.0
0
PACL
E/CL
ECTS
softw
are
for M
CLE
94,
032.
00
2,
368.
00
6,
400.
00
em
ail l
icens
es, C
onst
ant C
onta
ct, d
omai
n/SS
L cer
tifica
te re
new
als
10-
9,
600.
00
9,
600.
00
Pi
ka so
ftwar
e ho
stin
g an
d su
ppor
t (LR
EP)
112,
400.
00
-
2,
400.
00
Pr
oWor
kflo
w b
illin
g so
ftwar
e (D
PC)
124,
820.
00
2,
990.
00
7,
810.
00
ot
her s
oftw
are
appl
icatio
ns (J
otFo
rms,
Sprin
g CM
, Ado
be C
reat
ive
Clou
d,
Surv
ey M
onke
y, T
imel
y, Is
suu,
Acc
umai
l)13 14
Info
rmat
ion
Tech
nolo
gy15
4,40
0.00
13
6,11
0.00
29
0,51
0.00
15 16
Furn
iture
and
Equ
ipm
ent
14,8
00.0
0
3,90
0.00
18,7
00.0
0
repl
acem
ent o
f old
com
pute
rs, m
onito
rs, p
hone
s, an
d pr
ojec
tors
17 18TO
TAL E
XPEN
SES
169,
200.
00
14
0,01
0.00
309,
210.
00
Five Year Historical Comparison
State Bar of New Mexico | New Mexico Bar Foundation 17
18 2020 Budget and Financial Packet
FINANCIAL DASHBOARDDecember 31, 2019
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2015 2016 2017 2018 2019
LICENSING vs. NON-LICENSING REVENUE 2015-2019
LICENSING NON-LICENSING
0.60
0.80
1.00
1.20
1.40
1.60
2015 2016 2017 2018 2019
CURRENT RATIO 2015-2019
with IC payable without IC payable goal
- 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00
2015 2016 2017 2018 2019
DEBT RATIOS 2015-2019
debt to total assets debt to unrestricted net assets
E X P E N S E S W / O D E P R E C I A T I O N
E X P E N S E S W I T H D E P R E C I A T I O N
R E V E N U E
E X P E N S E S W / O D E P R E C I A T I O N
E X P E N S E S W I T H D E P R E C I A T I O N
R E V E N U E
E X P E N S E S W / O D E P R E C I A T I O N
E X P E N S E S W I T H D E P R E C I A T I O N
R E V E N U E
E X P E N S E S W / O D E P R E C I A T I O N
E X P E N S E S W I T H D E P R E C I A T I O N
R E V E N U E
E X P E N S E S W / O D E P R E C I A T I O N
E X P E N S E S W I T H D E P R E C I A T I O N
R E V E N U E
20
15
20
16
20
17
20
18
20
19
- 1,000,000 2,000,000 3,000,000 4,000,000
REVENUES & EXPENSES 2019-2015
Unrestricted Restricted
State Bar of New Mexico | New Mexico Bar Foundation 19
FINANCIAL DASHBOARDDecember 31, 2019
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
JAN
FEB
MAR AP
R
MAY JUN
JUL
AUG
SEP
OCT
NOV
DEC
CASH FLOWS 2019
INFLOW OUTFLOW
65%8%
1%4%
10%
6%3% 3%
REVENUE BY SOURCE 2019
LICENSING FEESADVERTISING REVENUEDIGITAL PRINT CENTERBAR CENTER RENTALREGULATORY PROGRAMSJLAP OUTSIDE SUPPORTCLIENT PROTECTIONOTHER
48%
9%3%
5%
4%
4%
5%
1%
6%
6%
9%
EXPENSES BY TYPE 2019
COMPENSATION, BENEFITS & TAXES
PUBLICATIONS
GOVERNANCE (BBC)
INFORMATION TECHNOLOGY
IN-KIND SUPPORT OF NMBF
OCCUPANCY EXPENSES
SECTIONS, DIVISIONS & COMMITTEES
CLIENT PROTECTION
JUDGES & LAWYERS ASSISTANCE
DEPRECIATION
OTHER
20 2020 Budget and Financial Packet
STAT
EMEN
T O
F FI
NANC
IAL P
OSI
TIO
NFI
VE Y
EAR
HIST
ORI
CAL C
OM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
TO
TAL A
SSET
S4,
323,
076.
14$
7,25
8,43
5.36
$
6,
094,
150.
86$
4,90
9,70
3.79
$
4,
575,
489.
47$
T
otal
Liab
ilitie
s3,
727,
215.
08
6,59
7,06
0.64
5,
473,
014.
61
3,85
8,79
5.84
3,
754,
648.
69
T
otal
Net
Ass
ets
595,
861.
06
66
1,37
4.72
621,
136.
25
1,
050,
907.
95
820,
840.
78
TO
TAL L
IABI
LITI
ES A
ND N
ET A
SSET
S4,
323,
076.
14$
7,25
8,43
5.36
$
6,
094,
150.
86$
4,90
9,70
3.79
$
4,
575,
489.
47$
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N SU
MM
ARY
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
REV
ENUE
S
Lice
nsin
g Re
venu
e2,
014,
833.
40
2,05
7,33
8.09
2,
075,
131.
39
2,13
9,42
6.40
2,
251,
377.
03
N
on-L
icens
ing
Reve
nue
664,
496.
46
65
6,66
4.47
669,
803.
34
75
8,51
5.03
902,
597.
00
TO
TAL R
EVEN
UES
2,67
9,32
9.86
2,
714,
002.
56
2,74
4,93
4.73
2,
897,
941.
43
3,15
3,97
4.03
TOTA
L EXP
ENSE
S2,
544,
042.
25
2,64
8,48
8.90
2,
785,
173.
20
2,95
9,37
4.41
3,
038,
108.
17
TOTA
L CHA
NGE
IN N
ET A
SSET
S13
5,28
7.61
$
65,5
13.6
6$
(40,
238.
47)
$
(61,
432.
98)
$
115,
865.
86$
State Bar of New Mexico | New Mexico Bar Foundation 21
STAT
EMEN
T O
F FI
NANC
IAL P
OSI
TIO
NFI
VE Y
EAR
HIST
ORI
CAL C
OM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
ASS
ETS
C
urre
nt A
sset
s
C
ash
and
Cash
Equ
ival
ents
1,52
8,76
2.40
4,
473,
910.
79
3,36
6,91
1.31
1,
882,
507.
21
2,20
4,55
9.60
Acc
ount
s Rec
eiva
ble,
Net
Acco
unts
Rec
eiva
ble
21,8
61.4
4
31,1
07.0
0
45,0
31.0
9
82,6
19.5
2
26,4
17.1
8
Allo
wan
ce fo
r Dou
btfu
l Acc
ount
s9,
768.
09
79
2.83
1,
009.
19
1,
108.
61
95
4.29
T
otal
Acc
ount
s Rec
eiva
ble,
Net
12,0
93.3
5
30,3
14.1
7
44,0
21.9
0
81,5
10.9
1
25,4
62.8
9
Inv
ento
ry6,
682.
15
6,
682.
15
6,
682.
15
6,
682.
15
-
D
ue fr
om M
CLE
-
-
-
45,9
51.4
7
-
Rel
ated
Par
ty R
ecei
vabl
e91
8,99
6.07
1,08
9,30
9.42
1,
162,
002.
67
1,17
1,80
6.32
1,
090,
263.
68
T
otal
Cur
rent
Ass
ets
2,46
6,53
3.97
5,
600,
216.
53
4,57
9,61
8.03
3,
188,
458.
06
3,32
0,28
6.17
F
ixed
Asse
ts, N
et
F
ixed
Asse
ts
Fu
rnitu
re &
Equ
ipm
ent
827,
741.
40
83
2,95
0.35
882,
269.
73
86
7,33
2.51
496,
052.
69
Cl
assr
oom
Fixt
ures
2,81
3.26
2,81
3.26
2,81
3.26
2,45
0.64
2,45
0.64
Bar C
ente
r1,
542,
060.
00
1,54
2,06
0.00
1,
542,
060.
00
1,54
2,06
0.00
1,
542,
060.
00
Build
Out
Impr
ovem
ents
425,
560.
72
42
9,30
7.00
447,
238.
92
48
8,84
6.15
504,
058.
98
La
nd34
4,13
2.40
344,
132.
40
34
4,13
2.40
344,
132.
40
34
4,13
2.40
Tot
al F
ixed
Asse
ts3,
142,
307.
78
3,15
1,26
3.01
3,
218,
514.
31
3,24
4,82
1.70
2,
888,
754.
71
Acc
umul
ated
Dep
recia
tion
1,32
4,98
8.07
1,
536,
061.
99
1,74
6,93
3.80
1,
919,
306.
84
1,68
3,17
7.24
Tot
al F
ixed
Asse
ts, N
et1,
817,
319.
71
1,61
5,20
1.02
1,
471,
580.
51
1,32
5,51
4.86
1,
205,
577.
47
O
ther
Ass
ets
Dep
osits
and
Pre
paym
ents
39,0
32.0
8
42,9
94.7
1
42,9
52.3
2
44,9
63.0
9
49,6
25.8
3
Em
ploy
ee A
dvan
ces /
Loan
s19
0.38
23
.10
-
-
-
TO
TAL A
SSET
S4,
323,
076.
14$
7,25
8,43
5.36
$
6,
094,
150.
86$
4,55
8,93
6.01
$
4,
575,
489.
47$
22 2020 Budget and Financial Packet
STAT
EMEN
T O
F FI
NANC
IAL P
OSI
TIO
NFI
VE Y
EAR
HIST
ORI
CAL C
OM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
LIA
BILI
TIES
AND
NET
ASS
ETS
Li
abili
ties
Cur
rent
Liab
ilitie
s
Ac
coun
ts P
ayab
le11
8,16
6.15
63,0
01.1
4
115,
648.
13
13
8,25
2.36
71,5
31.1
1
Accr
ued
Liabi
litie
s
Sec
tion
125
Cafe
teria
Pla
n Pa
yabl
e3,
771.
29
3,
597.
08
2,
781.
00
-
-
Am
erica
n Fu
nds -
Ret
irem
ent P
ayab
le-
10
,735
.63
10
,049
.51
9,
305.
85
12
,305
.31
Hea
lth In
sura
nce
Paya
ble
972.
84
15,0
36.6
9
14,3
30.1
0
9.62
-
V
ision
Car
e Pa
yabl
e-
23
2.82
21
0.20
-
6.
05
Den
tal I
nsur
ance
Pay
able
254.
70
1,78
7.31
1,67
5.61
1,80
1.67
1,71
0.48
D
efin
ed F
itnes
s Pay
able
-
171.
64
-
129.
42
43.1
4
Acc
rued
Sal
arie
s-
-
27
,353
.63
35
,417
.41
40
,755
.84
Acc
rual
s-Sa
lary
Vac
atio
n30
,826
.08
36
,346
.34
26
,619
.49
35
,654
.91
37
,126
.46
Oth
er A
ccru
ed Li
abili
ties
-
-
-
-
-
Tota
l Acc
rued
Liab
ilitie
s35
,824
.91
67
,907
.51
83
,019
.54
82
,318
.88
91
,947
.28
Accr
ued
Taxe
s
Cor
pora
te In
com
e Ta
x41
,690
.00
4,
402.
00
4,
913.
00
3,
722.
00
-
Fed
eral
Tax
es -
941
10,7
93.9
9
-
1,04
2.36
-
-
F
eder
al U
nem
ploy
men
t Tax
56.7
2
25
6.06
11
0.76
15
9.94
21
5.83
NM
Une
mpl
oym
ent T
ax94
6.85
1,
024.
67
87
3.67
75
7.11
19
9.12
NM
Inco
me
Tax P
ayab
le3,
605.
11
2,
681.
39
3,
132.
98
2,
908.
72
4,
028.
59
NM
Gro
ss R
ecei
pts T
ax P
ayab
le5,
233.
11
1,
900.
74
2,
099.
63
2,
353.
26
2,
348.
73
NM
Wor
ker's
Com
pens
atio
n Fe
e98
.90
103.
20
94.6
0
94
.60
111.
80
Tota
l Acc
rued
Tax
es62
,424
.68
10
,368
.06
12
,267
.00
9,
995.
63
6,
904.
07
Inte
rcom
pany
Pay
able
D
ue to
Clie
nt P
rote
ctio
n Fu
nd /
Inte
rfund
340,
989.
60
44
,446
.58
33
,171
.83
29
,959
.49
44
,992
.82
Due
to N
M S
upre
me
Cour
t35
8,20
7.38
3,31
6,71
1.50
2,
400,
267.
25
1,37
9,14
6.52
2,
500.
00
Due
to A
TJ F
und
Gran
t Com
miss
ion
-
-
-
-
943,
489.
53
Due
s Pay
able
- Di
scip
linar
y Bo
ard
268,
485.
00
41
3,89
4.17
269,
935.
01
22
8,76
5.12
374,
622.
50
Due
to Y
LD3,
314.
91
1,
751.
84
52
9.89
70
5.52
1,
630.
63
Due
to U
NM F
ound
atio
n4,
000.
00
81
5.12
3,
379.
49
3,
573.
84
-
Due
to N
M W
omen
's Ba
r3,
642.
92
3,
755.
43
3,
365.
00
2,
190.
00
3,
485.
00
State Bar of New Mexico | New Mexico Bar Foundation 23
STAT
EMEN
T O
F FI
NANC
IAL P
OSI
TIO
NFI
VE Y
EAR
HIST
ORI
CAL C
OM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
D
ue to
Wom
en &
the
Lega
l Pro
f Com
mitt
ee-
-
1,
000.
00
-
-
Due
to P
aral
egal
Div
ision
942.
01
2,03
0.00
2,10
0.00
1,94
5.00
2,63
5.27
D
ue to
NM
Bla
ck La
wye
rs A
ssoc
iatio
n30
0.00
60
0.00
35
0.00
27
5.00
45
5.00
Due
to R
egio
nal H
ispan
ic Na
tiona
l Bar
950.
00
1,35
0.00
1,65
0.00
750.
00
700.
00
D
ue to
Alb
uque
rque
Bar
Ass
ocia
tion
8,13
0.00
10,1
55.0
0
-
7,20
0.00
6,60
0.00
D
ue to
1st
Judi
cial D
istric
t Bar
Ass
ocia
tion
3,52
5.00
5,51
0.00
3,60
0.00
1,73
0.00
3,94
0.00
D
ue to
Lesb
ian
& G
ay La
wye
rs A
ssoc
iatio
n59
0.00
49
0.00
45
5.00
31
5.00
52
5.00
Due
to N
M H
ispan
ic Ba
r Ass
ocia
tion
3,67
5.00
4,59
5.00
3,85
5.00
2,36
0.00
3,05
0.00
D
ue to
Indi
an B
ar A
ssoc
iatio
n of
NM
540.
00
580.
00
380.
00
380.
00
360.
00
D
ue to
Val
encia
Cou
nty
Bar A
ssoc
iatio
n-
70
0.00
50
0.00
20
0.00
50
0.00
To
tal I
nter
com
pany
Pay
able
997,
291.
82
3,
807,
384.
64
2,72
4,53
8.47
1,
659,
495.
49
1,38
9,48
5.75
Othe
r Cur
rent
Liab
ilitie
s
Cus
tom
er A
dvan
ces
2,86
5.00
4,03
1.00
2,86
5.00
1,71
6.98
5,24
3.16
R
efun
ds P
ayab
le-
62
5.75
-
-
-
Def
erre
d Re
venu
e51
1,65
3.66
785,
528.
28
83
5,70
5.60
421,
167.
03
78
4,30
2.20
Tota
l Oth
er C
urre
nt Li
abili
ties
514,
518.
66
79
0,18
5.03
838,
570.
60
42
2,88
4.01
789,
545.
36
T
otal
Cur
rent
Liab
ilitie
s1,
728,
226.
22
4,73
8,84
6.38
3,
774,
043.
74
2,31
2,94
6.37
2,
349,
413.
57
Lon
g Te
rm Li
abili
ties
Mor
tgag
e Lo
an1,
612,
098.
91
1,55
0,00
0.00
1,
496,
381.
34
1,44
1,52
4.59
1,
384,
546.
56
Capi
tal L
ease
- DP
C38
6,88
9.95
308,
214.
26
20
2,58
9.53
99,4
90.1
3
-
Copi
er Le
ase
-
-
-
-
20,6
88.5
6
Tot
al Lo
ng T
erm
Liab
ilitie
s1,
998,
988.
86
1,85
8,21
4.26
1,
698,
970.
87
1,54
1,01
4.72
1,
405,
235.
12
T
otal
Liab
ilitie
s3,
727,
215.
08
6,59
7,06
0.64
5,
473,
014.
61
3,85
3,96
1.09
3,
754,
648.
69
N
et A
sset
s
N
et A
sset
s With
out D
onor
Res
trict
ions
547,
803.
26
61
5,75
0.31
576,
933.
32
65
9,46
1.38
766,
390.
75
N
et A
sset
s With
Don
or R
estr
ictio
ns48
,057
.80
45
,624
.41
44
,202
.93
45
,513
.54
54
,450
.03
T
otal
Net
Ass
ets
595,
861.
06
66
1,37
4.72
621,
136.
25
70
4,97
4.92
820,
840.
78
TO
TAL L
IABI
LITI
ES A
ND N
ET A
SSET
S4,
323,
076.
14$
7,25
8,43
5.36
$
6,
094,
150.
86$
4,55
8,93
6.01
$
4,
575,
489.
47$
24 2020 Budget and Financial Packet
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
CHAN
GES
IN N
ET A
SSET
S W
ITHO
UT
DONO
R RE
STRI
CTIO
NS
REVE
NUES
Licen
sing
Reve
nue
Licen
sing
Fees
- Ac
tive
1,69
2,55
1.90
1,
719,
428.
09
1,74
0,82
1.39
1,
841,
361.
69
1,89
1,19
0.62
Lic
ensin
g Fe
es -
Inac
tive
202,
156.
50
20
6,50
0.00
217,
943.
00
20
5,85
0.00
206,
090.
00
Lic
ensin
g Fe
es -
Stud
ent M
embe
rshi
p52
5.00
1,
915.
00
21
0.00
-
-
La
te F
ees
63,4
50.0
0
71,5
55.0
0
56,6
00.0
0
33,6
50.0
0
90,3
60.0
0
Tota
l Lice
nsin
g Re
venu
e1,
958,
683.
40
1,99
9,39
8.09
2,
015,
574.
39
2,08
0,86
1.69
2,
187,
640.
62
Non-
Licen
sing
Reve
nue
Adm
inist
rativ
e Fe
es29
,396
.63
29
,102
.72
29
,622
.75
37
,088
.73
22
,970
.88
Ad
vert
ising
Rev
enue
293,
220.
42
30
4,39
1.76
288,
836.
43
32
6,52
4.57
270,
636.
96
Co
ntrib
utio
ns-
-
-
1,
891.
00
-
Di
gita
l Prin
t Cen
ter
92,0
42.7
3
98,0
26.8
8
77,6
56.7
9
83,0
65.6
4
44,3
09.6
8
ECL P
artic
ipat
ion
Fees
-
-
-
16,2
50.0
0
18,5
02.0
0
Exce
ss S
ectio
n Fu
nds
-
5,64
3.65
691.
07
21.3
5
5,
122.
66
In
tere
st2,
183.
41
1,
890.
89
1,
628.
24
1,
993.
98
3,
819.
23
Ja
ckra
bbit
Bar C
onfe
renc
e-
-
19
,220
.00
-
-
La
wye
r Ref
erra
l38
,963
.36
-
-
-
-
Le
gal S
pecia
lizat
ion
Reve
nue
-
-
-
29,2
17.2
9
7,00
0.00
Mem
ber B
enef
its P
rogr
am6,
449.
06
6,
552.
92
7,
954.
34
9,
278.
10
10
,832
.93
M
embe
rshi
p Da
ta Li
st1,
896.
80
3,
529.
80
1,
656.
80
1,
397.
50
3,
864.
50
M
ento
r Pro
gram
37,3
10.0
0
34,0
99.9
2
54,3
00.0
0
33,1
05.0
0
-
MCL
E Re
venu
e-
-
-
61
,592
.02
-
NS
F Fe
es75
.00
50.0
0
25.0
0
25
.00
75.0
0
Ot
her I
ncom
e32
7.82
11
,812
.76
45
.12
8,74
7.50
1,03
5.00
PDC
Rent
al78
,566
.11
90
,537
.74
97
,867
.05
11
7,59
1.55
129,
039.
07
Pr
o Ha
c Vice
15,1
75.0
0
14,5
25.0
0
16,6
00.0
0
-
-
Regu
lato
ry P
rogr
ams
-
-
-
-
359,
539.
56
Re
nt17
,763
.24
18
,450
.00
19
,003
.56
-
-
State Bar of New Mexico | New Mexico Bar Foundation 25
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
Ship
ping
Rev
enue
1,82
3.50
1,62
7.59
1,38
7.04
1,99
0.53
1,79
1.01
Stra
tegi
c Par
tner
ship
Pro
gram
-
-
21,9
14.3
0
-
-
Subs
crip
tions
49,3
03.3
8
36,4
22.8
4
31,3
94.8
5
28,7
35.2
7
24,0
58.5
2
Tota
l Non
-Lice
nsin
g Re
venu
e66
4,49
6.46
656,
664.
47
66
9,80
3.34
758,
515.
03
90
2,59
7.00
Tota
l Rev
enue
s2,
623,
179.
86
2,65
6,06
2.56
2,
685,
377.
73
2,83
9,37
6.72
3,
090,
237.
62
EXPE
NSES
Adve
rtisi
ng &
Mar
ketin
g2,
305.
59
66
4.35
2,
206.
96
1,
258.
29
35
8.59
Aw
ards
/Hon
ors/
Reco
gniti
on1,
552.
59
2,
530.
10
3,
048.
72
2,
993.
77
4,
426.
25
Ba
d De
bt E
xpen
se9,
215.
22
30
0.41
71
6.53
96
8.60
1,
188.
92
Ba
nk F
ees
981.
01
12,2
59.7
3
104.
14
745.
29
1,39
4.97
BBC
- Mee
tings
& G
over
nanc
e52
,252
.08
32
,446
.96
36
,344
.54
43
,601
.67
50
,510
.53
BB
C - T
rave
l & C
onfe
renc
e16
,772
.70
23
,842
.01
19
,124
.64
25
,010
.52
21
,528
.64
BB
C - J
ackr
abbi
t Con
fere
nce
-
-
3,83
5.76
-
-
BBC
- Out
reac
h Do
natio
ns-
-
1,
500.
00
4,
019.
42
2,
000.
00
BB
C - E
xecu
tive
Dire
ctor
Sea
rch
-
-
10,5
16.9
6
-
-
BBC
- AM
Pas
t Pre
siden
t's D
inne
r-
-
-
9,
872.
11
8,
025.
13
BB
C - C
omm
issio
ner D
ist A
nnua
l Eve
nts
-
-
-
-
5,89
2.96
Com
mitt
ee A
ctiv
ity20
,858
.60
24
,591
.34
22
,520
.12
21
,263
.74
58
,556
.98
Cr
edit
Card
Mer
chan
t Fee
s7,
056.
27
(7
80.6
4)
3,
512.
08
3,
478.
80
8,
114.
46
Da
taba
se In
frast
ruct
ure
Upgr
ade
Stud
y-
-
-
-
13
,252
.77
Di
gita
l Pre
ss16
5,89
5.39
177,
425.
79
17
3,65
6.81
185,
663.
75
16
9,17
8.02
Dire
ct M
ater
ials
49,4
21.4
9
54,5
75.9
7
50,6
63.5
7
55,7
91.5
7
33,7
82.3
1
Dire
ct S
uppl
ies -
PDC
2,19
2.43
2,52
1.51
2,71
4.31
4,95
5.25
4,76
7.56
Divi
sion
Activ
ity43
,654
.31
47
,087
.39
65
,596
.29
65
,210
.83
58
,419
.63
Du
es &
Sub
scrip
tions
9,89
1.13
6,27
4.57
6,88
1.72
9,56
1.01
8,68
3.95
Furn
iture
& E
quip
men
t4,
002.
53
1,
479.
64
9,
119.
51
9,
901.
96
7,
739.
37
In
-Kin
d Su
ppor
t of N
M B
ar F
ound
atio
n-
-
11
3,84
2.56
124,
317.
50
11
8,48
3.68
Info
rmat
ion
Tech
nolo
gy79
,012
.92
74
,829
.27
11
9,46
1.70
141,
367.
84
14
9,45
0.86
Insu
ranc
e37
,123
.04
39
,464
.12
38
,443
.22
40
,609
.76
41
,343
.01
Inte
rest
Exp
ense
106,
478.
70
97
,363
.50
72
,320
.73
64
,318
.53
57
,168
.99
26 2020 Budget and Financial Packet
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
Jack
rabb
it Ba
r Con
fere
nce
Expe
nses
-
-
15,3
57.7
4
-
-
Jani
toria
l & S
uppl
ies
21,8
15.9
4
22,7
38.8
7
23,4
45.8
7
26,7
26.0
8
28,3
87.0
4
JLAP
Sup
port
Pro
vide
d by
Sta
te B
ar-
-
-
-
80
,000
.00
La
ndsc
ape
Mai
nten
ance
4,78
2.35
3,76
0.00
4,85
3.78
4,49
3.61
6,93
1.80
Men
tors
hip
- CLE
Fee
s-
-
-
-
32
,062
.00
M
ento
rshi
p - M
CLE
Expe
nse
2,44
1.00
3,10
8.00
3,02
4.00
2,21
0.00
-
Mile
age
Expe
nse
2,43
1.68
2,08
2.45
753.
81
919.
23
1,53
5.68
Misc
ella
neou
s Exp
ense
10.7
6
-
-
-
6,
682.
15
Of
fice
Supp
lies
5,50
0.05
4,99
8.48
5,73
8.13
5,71
9.19
5,03
3.28
Outr
each
3,11
1.49
4,43
0.37
18,6
93.0
2
3,21
7.72
2,25
4.98
Pape
r Shr
eddi
ng5,
344.
69
4,
054.
05
4,
850.
27
-
-
Pa
yrol
l1,
225,
517.
06
1,39
2,75
7.31
1,
367,
827.
71
1,53
5,60
9.13
1,
542,
793.
29
Post
age
& D
eliv
ery
102,
799.
59
10
2,47
0.55
107,
787.
53
11
2,79
6.72
75,1
20.2
3
Prof
essio
nal F
ees
78,7
67.7
0
31,5
58.1
6
17,1
22.2
8
17,2
71.5
7
18,6
10.1
1
Repa
irs &
Mai
nten
ance
15,6
01.0
2
18,1
18.3
1
10,0
11.3
5
12,9
15.1
1
16,7
35.6
3
Risk
Man
agem
ent
3,20
0.00
8,67
5.00
14,6
12.5
0
13,2
37.5
0
12,5
12.5
0
Staf
f Edu
catio
n &
Tra
inin
g4,
741.
19
2,
739.
77
2,
274.
84
4,
699.
43
2,
710.
00
St
aff M
oral
e Fu
nd &
Ret
reat
4,00
4.46
6,53
7.69
5,87
1.04
6,62
1.23
7,14
0.70
Staf
f Tra
vel
9,13
7.78
13,6
41.9
7
11,4
19.8
8
15,6
88.4
4
16,1
69.4
3
Taxe
s & F
ees -
Cor
pora
tion
54,3
87.3
1
85,4
92.2
7
78,1
29.6
8
56,6
13.5
3
44,7
76.4
0
Utili
ties/
Serv
ice C
ontr
acts
71,9
48.9
2
73,0
02.3
2
65,4
18.6
1
80,7
98.7
3
78,6
35.8
9
Tota
l Exp
ense
s2,
224,
208.
99
2,37
7,04
1.59
2,
513,
322.
91
2,71
4,44
7.43
2,
802,
358.
69
Chan
ge in
Net
Ass
ets W
ithou
t Don
or
Rest
rictio
ns B
efor
e De
prec
iatio
n39
8,97
0.87
279,
020.
97
17
2,05
4.82
124,
929.
29
28
7,87
8.93
Depr
ecia
tion
Expe
nse
218,
406.
07
21
1,07
3.92
210,
871.
81
18
7,67
2.88
180,
949.
56
Tota
l Cha
nge
in N
et A
sset
s With
out
Do
nor R
estr
ictio
ns18
0,56
4.80
67,9
47.0
5
(38,
816.
99)
(62,
743.
59)
106,
929.
37
State Bar of New Mexico | New Mexico Bar Foundation 27
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
CHAN
GES
IN N
ET A
SSET
S W
ITH
DONO
R RE
STRI
CTIO
NS
Se
ctio
ns
Sect
ion
Reve
nue
56,1
50.0
0
57,9
40.0
0
59,5
57.0
0
58,5
64.7
1
63,7
36.4
1
Se
ctio
n Ex
pens
es(1
01,4
27.1
9)
(6
0,37
3.39
)
(6
0,97
8.48
)
(5
7,25
4.10
)
(5
4,79
9.92
)
To
tal S
ectio
ns(4
5,27
7.19
)
(2
,433
.39)
(1
,421
.48)
1,
310.
61
8,
936.
49
Tota
l Cha
nge
in N
et A
sset
s With
Do
nor R
estr
ictio
ns(4
5,27
7.19
)
(2
,433
.39)
(1
,421
.48)
1,
310.
61
8,
936.
49
TOTA
L CHA
NGE
IN N
ET A
SSET
S13
5,28
7.61
65,5
13.6
6
(40,
238.
47)
(61,
432.
98)
115,
865.
86
Net A
sset
s - B
egin
ning
of P
erio
d46
0,57
3.45
595,
861.
06
66
1,37
4.72
621,
136.
25
70
4,97
4.92
Net A
sset
s Tra
nsfe
rred
In (M
CLE)
-
-
-
145,
271.
65
-
Net A
sset
s - E
nd o
f Per
iod
595,
861.
06$
66
1,37
4.72
$
621,
136.
25$
70
4,97
4.92
$
820,
840.
78$
28 2020 Budget and Financial Packet
FINANCIAL DASHBOARDDecember 31, 2019
0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000
2015
2016
2017
2018
2019
REVENUES vs. EXPENSES 2019-2015
REVENUES EXPENSES WITH DEPRECIATION EXPENSES W/O DEPRECIATION
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2019Hotel Abq. Old Town
2018Tamaya
2017Inn of Mtn. Gods
2016Buffalo Thunder
2015Broadmoor
ANNUAL MEETING 2019-2015
REVENUES EXPENSES
- 1.00 2.00 3.00 4.00 5.00 6.00 7.00
2015 2016 2017 2018 2019
CURRENT RATIO 2015-2019
WITH IC PAYABLE WITHOUT IC PAYABLE
GOAL
68.00%70.00%72.00%74.00%76.00%78.00%80.00%82.00%84.00%
2015 2016 2017 2018 2019
PROGRAM EXPENSE RATIO 2015-2019
PROGRAM EXPENSE RATIO GOAL
State Bar of New Mexico | New Mexico Bar Foundation 29
FINANCIAL DASHBOARDDecember 31, 2019
-
50,000
100,000
150,000
200,000
250,000
300,000
JAN
FEB
MAR AP
R
MAY JUN
JUL
AUG
SEP
OCT
NOV
DEC
CASH FLOWS 2019
INFLOW OUTFLOW
52%
19%
2%
13%
8%6%
REVENUE BY SOURCE 2019
CLE REVENUES
LREP GRANT
REFERRAL PROGRAM
ANNUAL MEETING
SBNM IN-KIND SUPPORT
OTHER
56%
12%
9%
10%
7%6%
EXPENSES BY TYPE 2019
COMPENSATION, BENEFITS & TAXES
CLE EXPENSES
INFORMATION TECHNOLOGY
ANNUAL MEETING
BAR CENTER OCCUPANCY
OTHER
30 2020 Budget and Financial Packet
STAT
EMEN
T OF
FIN
ANCI
AL P
OSIT
ION
FIVE
YEA
R HI
STOR
ICAL
COM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f
12/3
1/20
1512
/31/
2016
12/3
1/20
1712
/31/
2018
12/3
1/20
18
TO
TAL A
SSET
S1,
117,
252.
32$
1,13
2,46
0.32
$
1,
308,
817.
48$
1,52
3,74
4.17
$
1,
498,
591.
35$
T
otal
Liab
ilitie
s98
4,93
2.38
1,17
3,65
1.41
1,
506,
703.
48
1,67
8,93
3.13
1,
660,
763.
74
T
otal
Net
Ass
ets
132,
319.
94
(4
1,19
1.09
)
(1
97,8
86.0
0)
(1
55,1
88.9
6)
(1
62,1
72.3
9)
TO
TAL L
IABI
LITI
ES A
ND N
ET A
SSET
S1,
117,
252.
32$
1,13
2,46
0.32
$
1,
308,
817.
48$
1,52
3,74
4.17
$
1,
498,
591.
35$
STAT
EMEN
T OF
ACT
IVIT
IES
FIVE
YEA
R HI
STOR
ICAL
COM
PARI
SON
SUM
MAR
Y
As o
fAs
of
As o
fAs
of
As o
f12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
REV
ENUE
S
CLE
732,
141.
71
68
9,55
9.70
810,
837.
00
89
2,79
4.48
753,
031.
33
Non
-CLE
438,
360.
33
66
9,18
1.07
635,
984.
93
64
5,44
0.44
703,
151.
24
TO
TAL R
EVEN
UES
1,17
0,50
2.04
1,
358,
740.
77
1,44
6,82
1.93
1,
538,
234.
92
1,45
6,18
2.57
EXP
ENSE
S
CLE
222,
284.
27
21
7,12
2.53
199,
062.
96
21
5,73
6.53
167,
965.
71
Non
-CLE
1,09
1,19
7.82
1,
315,
129.
27
1,40
4,45
3.88
1,
279,
801.
35
1,29
5,20
0.29
TOTA
L EXP
ENSE
S1,
313,
482.
09
1,53
2,25
1.80
1,
603,
516.
84
1,49
5,53
7.88
1,
463,
166.
00
TOTA
L CHA
NGE
IN N
ET A
SSET
S(1
42,9
80.0
5)$
(1
73,5
11.0
3)$
(1
56,6
94.9
1)$
42
,697
.04
$
(6
,983
.43)
$
State Bar of New Mexico | New Mexico Bar Foundation 31
STAT
EMEN
T OF
FIN
ANCI
AL P
OSIT
ION
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
As o
fAs
of
As o
fAs
of
As o
f
12/3
1/20
1512
/31/
2016
12/3
1/20
1712
/31/
2018
12/3
1/20
19
ASS
ETS
Cur
rent
Ass
ets
Cas
h an
d Ca
sh E
quiv
alen
ts32
4,97
5.30
384,
596.
77
57
3,16
0.56
826,
736.
98
81
1,41
9.17
Acc
ount
s Rec
eiva
ble,
Net
56,2
07.0
9
36,2
09.5
6
38,6
21.3
6
47,4
33.6
5
25,6
77.5
6
Pre
paid
Exp
ense
s7,
076.
53
13
,195
.16
28
,962
.05
8,
722.
99
25
,586
.98
Tot
al C
urre
nt A
sset
s38
8,25
8.92
434,
001.
49
64
0,74
3.97
882,
893.
62
86
2,68
3.71
F
ixed
Asse
ts, N
et
F
ixed
Asse
ts1,
612,
825.
02
1,61
2,82
5.02
1,
612,
825.
02
1,45
3,09
4.25
1,
459,
449.
67
Acc
umul
ated
Dep
recia
tion
883,
831.
62
91
4,36
6.19
944,
751.
51
81
2,24
3.70
823,
542.
03
Tot
al F
ixed
Asse
ts, N
et72
8,99
3.40
698,
458.
83
66
8,07
3.51
640,
850.
55
63
5,90
7.64
TO
TAL A
SSET
S1,
117,
252.
32$
1,13
2,46
0.32
$
1,
308,
817.
48$
1,52
3,74
4.17
$
1,
498,
591.
35$
LIA
BILI
TIES
AND
NET
ASS
ETS
Liab
ilitie
s
C
urre
nt Li
abili
ties
Acco
unts
Pay
able
Acc
ount
s Pay
able
19,2
07.4
4
32,7
60.3
0
19,2
03.6
6
53,0
20.0
9
68,7
22.4
8
C
ostC
o Cr
edit
Card
815.
81
14.2
8
-
-
-
Visa
- C.
Mor
gant
i2,
902.
86
6,
746.
82
10
,154
.40
12
,851
.25
10
,010
.66
To
tal A
ccou
nts P
ayab
le22
,926
.11
39
,521
.40
29
,358
.06
65
,871
.34
78
,733
.14
Accr
ued
Liabi
litie
s
A
ccru
ed Li
abili
ties
10,3
60.6
0
4,59
4.30
125.
00
1,15
3.84
11,4
73.0
9
A
ccru
ed S
alar
ies
-
-
17,9
18.6
8
14,3
56.4
7
13,0
80.3
5
A
ccru
als-
Sala
ry V
acat
ion
18,0
14.6
6
19,6
65.8
6
23,6
23.7
6
16,8
14.8
7
16,4
75.4
4
Tota
l Acc
rued
Liab
ilitie
s28
,375
.26
24
,260
.16
41
,667
.44
32
,325
.18
41
,028
.88
Accr
ued
Taxe
s
F
eder
al T
axes
- 94
1-
-
5,
620.
53
-
-
NM
Inco
me
Tax
2,30
9.04
2,13
3.24
2,68
5.21
1,37
3.90
1,97
6.08
N
M U
nem
ploy
men
t Tax
63.4
8
99
4.37
71
9.09
38
8.57
29
4.70
NM
Wor
ker's
Com
pens
atio
n Fe
e43
.00
55.9
0
64
.50
55.9
0
51
.60
Tota
l Acc
rued
Tax
es2,
415.
52
3,
183.
51
9,
089.
33
1,
818.
37
2,
322.
38
32 2020 Budget and Financial Packet
STAT
EMEN
T OF
FIN
ANCI
AL P
OSIT
ION
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
As o
fAs
of
As o
fAs
of
As o
f
12/3
1/20
1512
/31/
2016
12/3
1/20
1712
/31/
2018
12/3
1/20
19
Inte
rcom
pany
Pay
able
Due
to N
M S
upre
me
Cour
t-
-
25
6,75
4.00
293,
936.
31
32
1,11
8.42
D
ue to
ATJ
Com
miss
ion
-
3,82
9.70
-
92,9
21.9
0
98,7
37.2
0
C
hild
ren'
s Law
Sec
tion
Art P
roje
ct1,
547.
03
1,
499.
88
3,
044.
88
4,
415.
77
6,
081.
15
Indi
an La
w S
ectio
n Sc
hola
rshi
ps4,
071.
89
2,
690.
89
1,
694.
89
4,
919.
89
20
,603
.89
Due
to JL
AP La
st C
all F
und
-
-
-
5,00
0.00
-
R
elat
ed P
arty
Pay
able
918,
996.
07
1,
089,
309.
42
1,16
2,00
2.67
1,
171,
806.
32
1,09
0,26
3.68
To
tal I
nter
com
pany
Pay
able
924,
614.
99
1,
097,
329.
89
1,42
3,49
6.44
1,
573,
000.
19
1,53
6,80
4.34
Oth
er C
urre
nt Li
abili
ties
R
efun
ds-
1,
356.
45
2,
575.
21
78
4.35
1,
027.
00
Cus
tom
er A
dvan
ces
-
-
-
500.
00
-
D
efer
red
Reve
nue
6,60
0.50
8,00
0.00
517.
00
4,63
3.70
848.
00
Tot
al O
ther
Cur
rent
Liab
ilitie
s6,
600.
50
9,
356.
45
3,
092.
21
5,
918.
05
1,
875.
00
Tot
al C
urre
nt Li
abili
ties
984,
932.
38
1,
173,
651.
41
1,50
6,70
3.48
1,
678,
933.
13
1,66
0,76
3.74
T
otal
Liab
ilitie
s98
4,93
2.38
1,17
3,65
1.41
1,
506,
703.
48
1,67
8,93
3.13
1,
660,
763.
74
N
et A
sset
s
N
et A
sset
s With
out D
onor
Res
trict
ions
132,
319.
94
(4
1,19
1.09
)
(197
,886
.00)
(155
,188
.96)
(169
,373
.39)
Net
Ass
ets W
ith D
onor
Res
trict
ions
-
-
-
-
7,20
1.00
T
otal
Net
Ass
ets
132,
319.
94
(4
1,19
1.09
)
(197
,886
.00)
(155
,188
.96)
(162
,172
.39)
TO
TAL L
IABI
LITI
ES A
ND N
ET A
SSET
S1,
117,
252.
32$
1,13
2,46
0.32
$
1,
308,
817.
48$
1,52
3,74
4.17
$
1,
498,
591.
35$
State Bar of New Mexico | New Mexico Bar Foundation 33
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
CHAN
GES
IN N
ET A
SSET
S W
ITHO
UT
DO
NOR
REST
RICT
IONS
REVE
NUES
CLE
Reve
nues
Live
Sem
inar
360,
981.
96
304,
205.
05
323,
780.
50
383,
980.
00
35
8,81
7.54
Vide
o Re
play
115,
070.
24
83,1
98.0
3
11
0,77
9.00
96
,122
.56
89
,444
.72
Te
lese
min
ars
26,1
75.0
5
25
,881
.00
23,1
28.0
0
27
,626
.25
23
,779
.00
O
n-De
man
d &
DVD
32,5
35.6
7
52
,819
.87
43,6
49.0
0
48
,044
.65
43
,072
.80
W
ebin
ars
-
-
7,13
1.00
23
,287
.45
14
,563
.60
W
ebca
st R
egist
ratio
n19
1,13
8.79
22
0,78
5.75
27
2,08
4.50
27
1,07
7.57
197,
233.
67
W
alk-
In F
ees
-
-
2,26
0.00
60
0.00
46
0.00
CL
E Co
urse
Mat
eria
ls-
-
18
,180
.00
29,0
06.0
0
5,46
0.00
Seas
on P
ass R
even
ue6,
240.
00
2,67
0.00
9,
845.
00
13,0
50.0
0
20,2
00.0
0
Tota
l CLE
Rev
enue
s73
2,14
1.71
68
9,55
9.70
81
0,83
7.00
89
2,79
4.48
753,
031.
33
Non-
CLE
Reve
nues
Gene
ral R
efer
ral P
rogr
am-
26,4
05.0
0
22
,910
.00
24,1
00.0
0
26,2
45.0
0
Stra
tegi
c Par
tner
ship
Pro
gram
-
-
30,4
18.4
8
-
-
Fu
ndra
ising
Rev
enue
s-
-
-
31,4
48.0
0
68,0
79.0
4
Cont
ribut
ions
542.
50
20
,425
.57
516.
66
1,
507.
17
2,
406.
77
NS
F Fe
e25
.00
25
.00
-
25.0
0
25.0
0
Inte
rest
Ear
ned
522.
98
53
1.86
655.
15
76
2.05
1,
654.
29
Gr
ant R
even
ue30
6,59
5.96
30
7,79
8.00
29
8,34
3.24
28
9,57
5.60
284,
088.
00
An
nual
Mee
ting
122,
348.
00
301,
834.
60
151,
801.
00
160,
543.
73
18
5,07
5.00
Judi
cial D
istric
t Pro
Bon
o Co
mm
ittee
s8,
300.
89
10,9
11.8
1
14
,703
.78
13,1
56.3
9
9,89
3.46
Ship
ping
Rev
enue
25.0
0
35.0
0
-
5.
00
-
EC
L Pro
gram
Rev
enue
-
-
2,70
0.00
-
-
In
-Kin
d Su
ppor
t fro
m S
tate
Bar
-
-
113,
842.
56
124,
317.
50
11
8,48
3.68
Oth
er In
com
e-
1,21
4.23
94
.06
-
-
To
tal N
on-C
LE R
even
ues
438,
360.
33
669,
181.
07
635,
984.
93
645,
440.
44
69
5,95
0.24
TOTA
L REV
ENUE
S1,
170,
502.
04
1,
358,
740.
77
1,
446,
821.
93
1,
538,
234.
92
1,44
8,98
1.57
34 2020 Budget and Financial Packet
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
EXPE
NSES
CLE
Expe
nses
Audi
o/Vi
sual
Rec
ordi
ng33
,708
.92
26,1
44.8
6
32
,119
.69
32,2
70.2
1
35,0
97.2
5
Bar B
ulle
tin A
dver
tisin
g26
,537
.62
18,3
36.2
0
22
,192
.92
24,3
69.4
4
17,5
15.2
0
CLE
Plan
ning
7,94
8.03
59
8.71
1,04
8.03
87
8.02
84
2.30
Co
-Spo
nsor
ship
s13
,167
.60
13,1
89.9
5
10
,260
.00
28,1
09.1
4
18,4
67.8
4
Cour
se M
ater
ials
46,0
88.0
4
56
,563
.15
39,8
91.5
8
34
,056
.93
9,
573.
31
Fa
culty
Fee
s27
,237
.85
23,2
97.4
3
22
,319
.20
34,3
39.5
7
27,8
37.6
8
Facu
lty T
rave
l & Lo
dgin
g20
,868
.52
27,6
14.2
1
26
,745
.50
6,53
4.29
10,6
35.2
5
MCL
E Fi
ling
Fees
20,1
47.1
1
20
,393
.60
19,7
46.2
5
26
,698
.83
23
,054
.37
M
eals/
Refre
shm
ents
26,5
80.5
8
30
,984
.42
24,7
39.7
9
28
,480
.10
24
,942
.51
To
tal C
LE E
xpen
ses
222,
284.
27
217,
122.
53
199,
062.
96
215,
736.
53
16
7,96
5.71
Non-
CLE
Expe
nses
Adve
rtisi
ng &
Mar
ketin
g1,
124.
54
1,00
0.00
1,
000.
00
1,73
4.23
1,07
1.76
Annu
al M
eetin
g11
7,92
1.83
24
2,04
8.66
16
7,16
5.73
15
1,15
4.89
148,
235.
67
Ba
d De
bt E
xpen
se-
1,67
9.35
26
3.65
-
-
Bank
Fee
s36
.89
5.
00
50.0
0
75.3
0
60.0
0
Bar C
ente
r Allo
catio
n/Ex
pens
es93
,335
.21
99,7
70.9
5
91
,165
.69
97,2
30.5
3
99,1
70.3
7
Cred
it Ca
rd M
erch
ant F
ees
2,40
8.58
4,
614.
70
1,01
4.18
1,
409.
48
3,
009.
97
Du
es &
Sub
scrip
tions
2,29
8.63
2,
751.
78
3,17
5.58
2,
738.
34
2,
384.
09
Fu
ndra
ising
Exp
ense
s-
-
-
12,2
01.9
6
36,3
13.4
9
Furn
iture
& E
quip
men
t-
159.
64
6,
418.
12
4,36
7.24
4,66
4.11
Info
rmat
ion
Tech
nolo
gy10
4,57
4.95
98
,766
.89
139,
099.
34
164,
554.
05
12
7,59
0.96
Insu
ranc
e1,
479.
12
2,82
9.59
8,
580.
90
3,91
6.64
1,85
6.17
Judi
cial D
istric
t Sup
port
528.
58
-
-
-
-
O
ther
Out
reac
h-
1,13
9.75
9,
799.
47
1,39
0.00
-
Payr
oll
664,
676.
84
786,
321.
62
907,
689.
14
779,
013.
60
81
2,26
6.76
Post
age
& D
eliv
ery
2,97
7.58
2,
070.
87
2,00
8.29
2,
369.
39
3,
386.
19
Pr
ofes
siona
l Fee
s46
,965
.16
19,2
43.5
6
11
,863
.38
10,9
78.0
6
11,0
95.3
9
Judi
cial D
istric
t Pro
Bon
o Co
mm
ittee
s8,
300.
89
10,9
11.8
1
14
,703
.78
13,1
56.3
9
9,89
3.46
Staf
f Edu
catio
n &
Tra
vel
3,76
1.12
4,
940.
18
2,40
8.99
1,
750.
03
1,
925.
11
Su
pplie
s2,
445.
96
1,01
3.20
1,
050.
48
770.
66
862.
98
State Bar of New Mexico | New Mexico Bar Foundation 35
STAT
EMEN
T O
F AC
TIVI
TIES
FIVE
YEA
R HI
STO
RICA
L CO
MPA
RISO
N
Year
End
edYe
ar E
nded
Year
End
edYe
ar E
nded
Year
End
ed12
/31/
2015
12/3
1/20
1612
/31/
2017
12/3
1/20
1812
/31/
2019
Ta
xes &
Fee
s-
-
35
.00
45
.94
-
Tr
avel
/Lod
ging
- LR
EP W
orks
hops
7,47
6.02
5,
327.
15
6,57
6.84
3,
721.
66
3,
706.
99
To
tal N
on-C
LE E
xpen
ses
1,06
0,31
1.90
1,28
4,59
4.70
1,37
4,06
8.56
1,25
2,57
8.39
1,
267,
493.
47
TOTA
L EXP
ENSE
S1,
282,
596.
17
1,
501,
717.
23
1,
573,
131.
52
1,
468,
314.
92
1,43
5,45
9.18
CHAN
GE IN
NET
ASS
ETS
WIT
HOUT
DO
NOR
REST
RICT
IONS
BEF
ORE
DEP
RECI
ATIO
N(1
12,0
94.1
3)
(142
,976
.46)
(1
26,3
09.5
9)
69,9
20.0
0
13,5
22.3
9
Depr
ecia
tion
Expe
nse
30,8
85.9
2
30
,534
.57
30,3
85.3
2
27
,222
.96
27
,706
.82
TOTA
L CHA
NGE
IN N
ET A
SSET
S W
ITHO
UT
DO
NOR
REST
RICT
IONS
(142
,980
.05)
(1
73,5
11.0
3)
(156
,694
.91)
42
,697
.04
(1
4,18
4.43
)
CHAN
GES
IN N
ET A
SSET
S W
ITH
DO
NOR
REST
RICT
IONS
JLAP
In T
his T
oget
her F
und
Cont
ribut
ions
-
-
-
-
7,
201.
00
JL
AP In
Thi
s Tog
ethe
r Fun
d Di
strib
utio
ns-
-
-
-
-
TOTA
L CHA
NGE
IN N
ET A
SSET
S W
ITH
DONO
R RE
STRI
CTIO
NS-
-
-
-
7,20
1.00
TOTA
L CHA
NGE
IN N
ET A
SSET
S(1
42,9
80.0
5)
(173
,511
.03)
(1
56,6
94.9
1)
42,6
97.0
4
(6,9
83.4
3)
Net A
sset
s - B
egin
ning
of P
erio
d27
5,29
9.99
13
2,31
9.94
(4
1,19
1.09
)
(1
97,8
86.0
0)
(1
55,1
88.9
6)
Net A
sset
s - E
nd o
f Per
iod
132,
319.
94$
(41,
191.
09)
$
(197
,886
.00)
$
(1
55,1
88.9
6)$
(1
62,1
72.3
9)$
36 2020 Budget and Financial Packet
State Bar of New Mexico | New Mexico Bar Foundation 37State Bar of New Mexico | New Mexico Bar Foundation 37
2019 End of Year Financial Statements (Unaudited)
38 2020 Budget and Financial Packet
UNAUDITED
Subjec
t to C
hang
e
STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
ASSETS
Current AssetsCash and Cash Equivalents 2,204,559.60Accounts Receivable, net 25,462.89Deposits and Prepaid Expenses 49,625.83Related Party Receivable 1,090,263.68
Total Current Assets 3,369,912.00
Fixed AssetsFurniture & Equipment 496,052.69Classroom Fixtures 2,450.64Bar Center 1,542,060.00Build Out Improvements 504,058.98Land 344,132.40
Total Fixed Assets 2,888,754.71Accumulated Depreciation 1,683,177.24
Total Fixed Assets, net 1,205,577.47
TOTAL ASSETS 4,575,489.47$
LIABILITIES AND NET ASSETS
LiabilitiesCurrent LiabilitiesAccounts Payable 71,531.11
Accrued LiabilitiesAmerican Funds Retirement Payable 12,305.31Dental Insurance Payable 1,710.48Vision Insurance Payable 6.05Defined Fitness Payable 43.14Accrued PTO 37,126.46Accrued Salaries 40,755.84
Total Accrued Liabilities 91,947.28
Accrued TaxesFederal Unemployment Tax 215.83NM Income Tax 4,028.59NM Unemployment Tax 199.12NM Gross Receipts Tax 2,348.73NMWorker's Compensation Fee 111.80
Total Accrued Taxes 6,904.07
UNAUDITED
Subjec
t to C
hang
e
STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
Intercompany PayableDue to NM Supreme Court 2,500.00Due to ATJ Fund Grant Commission 943,489.53Due to Disciplinary Board 374,622.50Due to Client Protection Fund 44,992.82Due to YLD 1,630.63Due to NMWomen's Bar 3,485.00Due to Paralegal Division 2,635.27Due to NM Black Lawyers Association 455.00Due to Region Hispanic National Bar 700.00Due to Albuquerque Bar Association 6,600.00Due to 1st Judicial District Bar Association 3,940.00Due to Lesbian & Gay Lawyers Association 525.00Due to NM Hispanic Bar Association 3,050.00Due to Indian Bar Association of NM 360.00Due to Valencia County Bar Association 500.00
Total Intercompany Payable 1,389,485.75
Other Current LiabilitiesCustomer Advances 5,243.16Deferred Revenue 784,302.20
Total Other Current Liabilities 789,545.36
Total Current Liabilities 2,349,413.57
Long Term LiabilitiesMortgage Loan 1,384,546.56Copier Lease 20,688.56
Total Long Term Liabilities 1,405,235.12
Total Liabilities 3,754,648.69
Net AssetsNet Assets Without Donor Restrictions
Non Board Designated 619,771.25Board Designated Database Infrastructure Upgrade 140,619.50Board Designated Decennial Survey Reserve 6,000.00
Net Assets With Donor Restrictions (Sections) 54,450.03Total Net Assets 820,840.78
TOTAL LIABILITIES AND NET ASSETS 4,575,489.47$
State Bar of New Mexico | New Mexico Bar Foundation 39
UNAUDITED
Subjec
t to C
hang
e
STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
Intercompany PayableDue to NM Supreme Court 2,500.00Due to ATJ Fund Grant Commission 943,489.53Due to Disciplinary Board 374,622.50Due to Client Protection Fund 44,992.82Due to YLD 1,630.63Due to NMWomen's Bar 3,485.00Due to Paralegal Division 2,635.27Due to NM Black Lawyers Association 455.00Due to Region Hispanic National Bar 700.00Due to Albuquerque Bar Association 6,600.00Due to 1st Judicial District Bar Association 3,940.00Due to Lesbian & Gay Lawyers Association 525.00Due to NM Hispanic Bar Association 3,050.00Due to Indian Bar Association of NM 360.00Due to Valencia County Bar Association 500.00
Total Intercompany Payable 1,389,485.75
Other Current LiabilitiesCustomer Advances 5,243.16Deferred Revenue 784,302.20
Total Other Current Liabilities 789,545.36
Total Current Liabilities 2,349,413.57
Long Term LiabilitiesMortgage Loan 1,384,546.56Copier Lease 20,688.56
Total Long Term Liabilities 1,405,235.12
Total Liabilities 3,754,648.69
Net AssetsNet Assets Without Donor Restrictions
Non Board Designated 619,771.25Board Designated Database Infrastructure Upgrade 140,619.50Board Designated Decennial Survey Reserve 6,000.00
Net Assets With Donor Restrictions (Sections) 54,450.03Total Net Assets 820,840.78
TOTAL LIABILITIES AND NET ASSETS 4,575,489.47$
40 2020 Budget and Financial Packet
UNAUDITED
Subjec
t to C
hang
e
STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
One Month Year to Date Total Year to DateEnded Ended Budgeted Percentage
12/31/2019 12/31/2019 for 2019 of Total
CHANGES IN NET ASSETS WITHOUTDONOR RESTRICTIONS
REVENUES
Licensing RevenueLicensing Fees Active 276.25 1,891,190.62 1,867,850.00 101.25%Licensing Fees Inactive 206,090.00 205,000.00 100.53%Late Payment Penalty 90,360.00 35,000.00 258.17%
Total Licensing Revenue 276.25 2,187,640.62 2,107,850.00 103.79%
Non Licensing RevenuesAdministrative Fees 249.00 22,970.88 21,000.00 109.39%Advertising 13,701.21 270,636.96 175,000.00 154.65%Digital Print Center 10,173.09 44,309.68 45,000.00 98.47%ECL Participant Fees 550.00 18,502.00 18,000.00 102.79%Forfeited Section Funds 5,122.66 5,122.66 100.00%Interest Earned 285.16 3,819.23 2,000.00 190.96%Legal Specialization Revenue 7,000.00 100.00%Member Benefits Program 10,832.93 10,000.00 108.33%Membership Data List 180.80 3,864.50 1,500.00 257.63%NSF Fees 75.00 100.00%Other Income 1,035.00 100.00%PDC Rental 7,841.97 129,039.07 125,000.00 103.23%Regulatory Programs 34,426.34 359,539.56 320,000.00 112.36%Shipping Revenue 267.32 1,791.01 1,500.00 119.40%Subscriptions 121.10 24,058.52 33,000.00 72.90%
Total Non Licensing Revenues 72,918.65 902,597.00 752,000.00 120.03%
TOTAL REVENUES 73,194.90 3,090,237.62 2,859,850.00 108.06%
EXPENSES
Advertising/Marketing 358.59 1,500.00 23.91%Awards/Honors/Recognition 4,426.25 4,000.00 110.66%Bad Debt Expense 1,188.92 1,188.92 100.00%Bank Fees 82.99 1,394.97 500.00 278.99%BBC Meeting & Governance 9,946.80 50,510.53 38,000.00 132.92%BBC Travel & Conferences 21,528.64 28,000.00 76.89%BBC Outreach Donations 1,000.00 2,000.00 5,000.00 40.00%BBC AM Past President's Dinner 8,025.13 12,000.00 66.88%BBC Commissioner District Annual Events 181.28 5,892.96 100.00%Committees Standing 31,021.59 54,303.63 60,000.00 90.51%Committees Special 166.98 500.00 33.40%Committees & Commissions NMSC 355.92 4,086.37 1,500.00 272.42%Compensation, Benefits, & Taxes 128,082.96 1,542,793.29 1,495,500.00 103.16%Credit Card Merchant Fees (428.89) 8,114.46 4,000.00 202.86%Database Infrastructure Upgrade Study 950.00 13,252.77 60,000.00 22.09%Digital Press 12,772.80 169,178.02 123,500.00 136.99%Direct Materials Digital Press 1,590.94 33,782.31 33,000.00 102.37%Direct Supplies Prof Dev Center (681.08) 4,767.56 5,000.00 95.35%
State Bar of New Mexico | New Mexico Bar Foundation 41
UNAUDITED
Subjec
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STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
One Month Year to Date Total Year to DateEnded Ended Budgeted Percentage
12/31/2019 12/31/2019 for 2019 of Total
Division Activity SLD 13,251.59 15,250.00 86.90%Division Activity YLD 2,564.88 45,168.04 65,150.00 69.33%Dues & Subscriptions 8,683.95 10,000.00 86.84%Furniture & Equipment 1,409.58 7,739.37 8,000.00 96.74%In Kind Support of NM Bar Foundation 11,181.12 118,483.68 126,600.00 93.59%Information Technology 11,631.42 149,450.86 157,400.00 94.95%Insurance 3,434.58 41,343.01 38,700.00 106.83%Interest Expense 4,467.71 57,168.99 56,700.00 100.83%Janitorial & Supplies 2,539.10 28,387.04 24,900.00 114.00%JLAP Support Provided by State Bar 6,666.66 80,000.00 80,000.00 100.00%Landscape Maintenance 360.87 6,931.80 5,300.00 130.79%Mentorship CLE Fees 20,029.00 32,062.00 23,000.00 139.40%Mileage Reimbursement 214.88 1,535.68 1,000.00 153.57%Miscelaneous Expenses 6,682.15 6,682.15 100.00%Office Supplies 589.74 5,033.28 6,000.00 83.89%Outreach 355.01 2,254.98 3,000.00 75.17%Postage & Delivery 3,651.62 75,120.23 53,500.00 140.41%Professional Development 300.00 2,710.00 5,000.00 54.20%Professional Fees Legal & Accounting 18,610.11 17,560.00 105.98%Repairs & Maintenance 1,510.75 16,735.63 15,000.00 111.57%Risk Management Hotline 5,112.50 12,512.50 6,000.00 208.54%Staff Morale Fund 2,657.49 7,140.70 7,000.00 102.01%Staff Travel Expense 1,066.54 16,169.43 18,000.00 89.83%Taxes & Fees Corporation 5,458.05 44,776.40 70,100.00 63.88%Utilities/Service Contracts 6,214.70 78,635.89 77,300.00 101.73%
TOTAL EXPENSES 284,162.58 2,802,358.69 2,762,460.00 101.44%
CHANGE IN NET ASSETS WITHOUT DONORRESTRICTIONS BEFORE DEPRECIATION (210,967.68) 287,878.93 97,390.00
Depreciation Expense 8,176.57 180,949.56
TOTAL CHANGE IN NET ASSETSWITHOUT DONOR RESTRICTIONS (219,144.25) 106,929.37
CHANGES IN NET ASSETS WITHDONOR RESTRICTIONS
Section Revenue 63,736.41 60,000.00 106.23%Section Expenses (17,523.26) (54,799.92) (60,000.00) 91.33%
TOTAL CHANGE IN NET ASSETSWITH DONOR RESTRICTIONS (17,523.26) 8,936.49
TOTAL CHANGE IN NET ASSETS (236,667.51) 115,865.86
Net Assets Beginning of Period 1,057,508.29 704,974.92
Net Assets End of Period 820,840.78$ 820,840.78$
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STATEMENT OFCASH FLOWSFor the twelve months ended 12/31/2019
One Month Year to DateEnded Ended
12/31/2019 12/31/2019
CASH FLOWS FROM OPERATING ACTIVITIES
Change in net assets without donor restrctions (219,144.25) 106,929.37Change in net assets with donor restrictions (17,523.26) 8,936.49
Total change in net assets (236,667.51) 115,865.86Adjustments to reconcile change in net assets to netcash provided (used) by operating activities
Depreciation and amortization 8,176.57 180,949.56Change in operating assets and liabilities:
Changes in net receivables 24,743.87 56,048.02Changes in prepaid expenses (2,212.42) (4,662.74)Changes in intercompany receivables (10,993.71) 127,494.11Changes to accounts payable 7,254.69 (66,721.25)Changes to accrued liabilities 5,897.41 9,628.40Changes to accrued taxes and other current liabilities (9,695.63) 434.62Changes to intercompany payables 364,813.47 (270,009.74)Changes to deferred revenues 521,095.28 363,135.17
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 672,412.02 512,162.01
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of assets (38,760.17)Write off obsolete inventory 6,682.15 6,682.15
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES 6,682.15 (32,078.02)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on long term debt (4,890.47) (56,978.03)Principal payments on capital leases (99,490.13)Principal payments on copier leases (318.34) (1,563.44)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (5,208.81) (158,031.60)
NET INCREASE (DECREASE) IN CASH 673,885.36 322,052.39
Cash beginning of period 1,530,674.24 1,882,507.21
Cash end of period 2,204,559.60$ 2,204,559.60$
State Bar of New Mexico | New Mexico Bar Foundation 43
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EXECUTIVE SUMMARY For the Twelve Months Ended 12/31/2019
Statement of Financial Position
Deposits & Prepaid Expenses of $49,626 consists of prepaid insurance policies amortized over the coverage period of the policies, annual renewals of the iMIS and Intacct software maintenance plans, and estimated income tax payments in excess of the accrued tax liability for 2019. Related Party Receivable of $1,090,264 is the balance owed to SBNM by the Bar Foundation for expenses paid on behalf of the Foundation by the State Bar. Due to NM Supreme Court liability of $2,500 represents the BBC’s outreach commitment to support the NM Supreme Court Innovation Team’s video project and the Appellate Practice Section’s sponsorship of the 2020 judicial pipeline initiative. Due to ATJ Fund Grant Commission of $943,490 consists of Pro Bono, Pro Hac Vice, and IOLTA (ATJ Fund) held in trust on behalf of the ATJ Fund Grant Commission. The Commission issues grant awards to civil legal service providers on an annual basis. Collection of 2020 license renewal fees has resulted in significant increases to the Due to Disciplinary Board and Due to Client Protection Fund liabilities from collection of their annual assessment fees, and a significant increase in the Deferred Revenue liability from collection of 2020 licensing fees and 2020 section membership fees which will be recognized as revenue in 2020. The Capital Lease (DPC) liability for the Digital Print Center equipment no longer appears on the Statement of Financial Position due to the final payment being processed in November 2019. The new DPC equipment lease liability will be booked in 2020 once the equipment is placed in service and the lease is fully executed. Per the 2019 budget, net assets of $6,000 have been assigned as “Board Designated – Decennial Survey Reserve” to fund the next Women’s/Diversity study in 2029. Statement of Activities
The State Bar has experienced a positive change in net assets of $115,866 for the twelve months ended December 31, 2019. Strategic Partnership contracts have provided a total of $54,050 in revenues for the twelve months ended December 31, 2019. $17,050 of these revenues benefit programs of the State Bar, including $13,117 in advertising revenue, $1,458 in membership data revenue, $100 in DPC production, $1,300 in YLD event sponsorship, and $1,075 in Section event sponsorship. The remaining $37,000 of Strategic Partnership revenues benefit programs of the Bar Foundation.
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Total State Bar revenue (licensing and non‐licensing) has exceeded the 2019 budgeted amount by approximately $230,400. Late Payment Penalties from 2019 licensing renewals have exceeded their 2019 budgeted amount by approximately $55,000. Year‐to‐date late payment penalty revenues of $90,360 represent increases of 170% and 60% compared to twelve‐month totals from 2018 and 2017, respectively. Budgeted Advertising Revenue was reduced by approximately 50% compared to the prior year in anticipation of the production of Bar Bulletin issues decreasing from 52 to 26 issues per year. However, advertising revenues have only decreased by approximately 17% for the twelve months ended December 31, 2019 compared to the twelve‐month total from 2018. Legal Specialization Revenue of $7,000 consists of legal specialization renewal fees received from members to facilitate the State Bar’s monitoring of current legal specialists through the remainder of their specialization term. Other Income of $1,035 consists of revenue generated from the sale of old classroom tables and chairs which were replaced in November 2019. Regulatory Programs revenue of $359,540 have exceeded their 2019 budgeted amount by approximately $40,000. Regulatory Programs revenue consists of MCLE credit filing fees, MCLE course application fees, MCLE late compliance fees, Bridge the Gap Mentorship program participant fees, and Pro Hac Vice administration fees. Subscriptions revenue of $24,059 is less than the 2019 budgeted amount by approximately $9,000 due to declining demand for additional copies of the printed Bench and Bar Directory. Bank Fees of $1,395 include a one‐time $250 annual fee to maintain the line of credit with Bank of the West, and $686 of non‐recurring fees associated with MCLE bank accounts closed in October 2019. BBC 2019 expenses for Meetings & Governance, Travel & Conferences, Outreach Donations, and the Annual Meeting Past President’s Dinner total $82,064, which is less than the 2019 budgeted amount of $83,000 by approximately $900. BBC Meetings & Governance expenses were higher than anticipated due to BBC elections in three different districts, the December reception at the Governor’s Mansion, and travel expenses for the BBC retreat facilitator. BBC – Commissioner District Annual Events expense of $5,893 includes costs of the inaugural Member Appreciation Day held in the First Bar Commissioner district and other events hosted by BBC Commissioners in their home districts. This line item represents a new outreach initiative which was not included in the 2019 budget.
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Committees & Commissions – NMSC (Supreme Court) expenses of $4,086 consists of meeting costs for the Access to Justice Commission, LLT Workgroup, Innovation Team, and Rules of Civil Procedure Committee. Compensation expenses have exceeded their 2019 budgeted amount by approximately $47,000, partially due to the transition of the Foundation Development Manager to a State Bar employee when she accepted the Member Services Manager position. Credit Card Merchant Fee expenses of $8,114 have exceeded their budgeted amount by approximately $4,000 due to increased online transaction activity. Database Infrastructure Upgrade Study expenses are under budget by approximately $46,750 for the twelve months ended December 31, 2019. The study has progressed slower than expected and a portion of the costs related to attending and evaluating product demonstrations and final analysis and selection of a new Association Management Software application are expected to occur in 2020. Digital Press expenses were underestimated during the 2019 budgeting process and have exceeded their budgeted amount by approximately $45,700 for the twelve months ended December 31, 2019. This overage is offset by publication advertising revenue, which has exceeded its 2019 budgeted amount by approximately $95,600. Janitorial & Supplies expenses have exceeded their budgeted amount for 2019 by approximately $3,500 due to increased rental activity of the Bar Center facility. Landscape Maintenance expenses have exceeded their 2019 budgeted amount by $1,600 and include snow and ice removal for January, February, and November. Mentorship – CLE Fees expenses have exceeded their budgeted amount by approximately $9,000. The volume of mentorship program participants completing their CLE course requirements in 2019 was underestimated during the 2019 budgeting process. Miscellaneous expenses of $6,682 represent the write‐off of obsolete inventory in 2019. The inventory balance originated from a purchase of shirts and hats in 2012. Postage & Delivery expenses related to delivery of the Bar Bulletin were underestimated during the 2019 budgeting process and have exceeded their budgeted amount for the twelve months ended December 31, 2019. This overage is offset by publication advertising revenue, which has exceeded its 2019 budgeted amount by approximately $95,600. Repairs & Maintenance expenses of $16,736 include the construction of an internal office wall in the Administrative Office which was originally budgeted for 2019 as capital outlay. However, upon completion the total cost fell below the State Bar capitalization threshold requiring the cost to be
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expensed in the current year. In addition, multiple repairs to the Bar Center’s HVAC system and boiler have been necessary during the year. Risk Management Hotline expenses were originally budgeted for the first six months of 2019 with the expectation that they would be replaced by the Disciplinary Board’s services. However, the expenses continued for the full year causing them to exceed their budgeted amount by approximately $6,500. Taxes & Fees – Corporation expenses are under budget by approximately $25,300 for the twelve months ended December 31, 2019. The estimated 2019 income tax liability was less than anticipated during the 2019 budgeting process.
State Bar of New Mexico | New Mexico Bar Foundation 47
ACCESS TO JUSTICE
PRO BONO PROJECTSTATE BAR OF NEW MEXICO
ACCESS TO JUSTICE FUND2019
PRO BONO PRO HAC VICE IOLTA
BANK OF AMERICA
II. TOTAL
BEGINNING FUND BALANCE 1/1/2019 46,857.19 131,490.44 256,402.59 917,409.85 1,352,160.07
ADDITIONSPro Bono contributions received with 2019 dues 125,589.90 125,589.90 Pro Hac Vice fees collected for calendar year 2019 212,670.00 212,670.00 IOLTA fees collected for calendar year 2019 491,975.29 491,975.29 IOLTA Transfer from Bank of America Settlement 4,439.85 (4,439.85) -
Total Fund Balance Before Disbursements 172,447.09 344,160.44 752,817.73 912,970.00 2,182,395.26
DISBURSEMENTSFunding for Judicial District Pro Bono Committees (9,893.46) (9,893.46) Legal Malpractice Insurance - ATJ Commission (3,479.44) (3,479.44) IOLTA Conference Expenses (2,450.83) (2,450.83) Delta Consulting Boston, LLC (6,900.00) (6,900.00) Grants awarded on April 27, 2018:
New Mexico Legal Aid (payment 3 of 3) (91,823.00) (91,823.00) United South Broadway Corp (payment 3 of 4) (189,966.00) (189,966.00) Senior Citizens Law Office (payment 3 of 4) (70,923.00) (70,923.00) New Mexico State Bar Foundation (payment 2 of 2) (299,369.00) (299,369.00) United South Broadway Corp (payment 4 of 4) (189,966.00) (189,966.00) Senior Citizens Law Office (payment 4 of 4) (70,923.00) (70,923.00)
Grants awarded on May 10, 2019:Catholic Charities of Southern NM (payment 1 of 2) (2,432.67) (4,154.97) (8,412.36) (15,000.00) DNA People's Legal Services (payment 1 of 2) (5,270.79) (9,002.44) (18,226.77) (32,500.00) Enlace Communitario (payment 1 of 2) (4,865.34) (8,309.95) (16,824.71) (30,000.00) NM Center on Law & Poverty (payment 1 of 2) (13,785.14) (23,544.85) (47,670.01) (85,000.00) Native American Disability Law (payment 1 of 2) (3,649.01) (6,232.46) (12,618.53) (22,500.00) NM Immigrant Law Center (payment 1 of 2) (4,054.45) (6,924.96) (14,020.59) (25,000.00) New Mexico Legal Aid (payment 1 of 2) (13,379.69) (22,852.35) (46,267.96) (82,500.00) Pegasus Legal Services for Children (payment 1 of 2) (2,432.67) (4,154.97) (8,412.36) (15,000.00) Santa Fe Dreamers Project (payment 1 of 2) (1,216.34) (2,077.49) (4,206.17) (7,500.00) Senior Citizens Law Office (payment 1 of 2) (1,621.78) (2,769.98) (5,608.24) (10,000.00)
Grants awarded on July 31, 2019:Access to Justice Commission (4,054.45) (6,924.96) (14,020.59) (25,000.00)
Total Disbursements (70,135.23) (96,949.38) (205,639.12) (912,970.00) (1,285,693.73)
ENDING FUND BALANCE 12/31/2019 102,311.86 247,211.06 547,178.61 - 896,701.53
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STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
ASSETS
General Cash and Cash Equivalents 346,530.24Restricted Cash and Cash Equivalents 104,394.00
TOTAL ASSETS 450,924.24$
LIABILITIES AND NET ASSETS
Liabilities
Accounts Payable 4,814.72Accrued Compensation (Salaries/Benefits/Taxes) 7,791.12
Total Liabilities 12,605.84
Net Assets
Net Assets Without Donor Restrictions
Beginning Net Assets, General 212,511.03Change in General Net Assets 121,413.37
Total Net Assets Without Donor Restrictions 333,924.40
Net Assets With Donor Restrictions
Beginning Net Assets, Restricted 129,700.00Change in Restricted Net Assets (25,306.00)
Total Net Assets With Donor Restrictions 104,394.00
Total Net Assets 438,318.40
TOTAL LIABILITIES AND NET ASSETS 450,924.24$
Note: JLAP In This Together Fund Balance at 12/31/2019 $ 7,201.00
JUDGES AND LAWYERS
ASSISTANCE PROGRAM
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STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
Year to Date Total Year to DateEnded Budgeted Percentage
12/31/2019 for 2019 of Total
GENERAL JLAP ACTIVITIES
REVENUES
Funding from Disciplinary Board PHV Fees 92,550.00 80,000.00 115.69%Funding from Annual Disciplinary Board Fees 109,099.58 105,000.00 103.90%State Bar of New Mexico Program Support 80,000.00 80,000.00 100.00%
TOTAL REVENUES 281,649.58 265,000.00 106.28%
EXPENSES
Compensation (Salaries/Benefits/Taxes) 135,058.30 150,000.00 90.04%Committees Judges & Lawyers Assistance 4,348.57 6,000.00 72.48%Dues & Subscriptions 184.00 600.00 30.67%Furniture & Equipment 905.76 1,000.00 90.58%Insurance 2,935.59 4,500.00 65.24%JLAP Funding Oversight Board 500.00 0.00%Mileage Reimbursement 736.61 2,000.00 36.83%Office Supplies 135.56 1,500.00 9.04%Outreach 5,507.99 3,500.00 157.37%Postage & Delivery 147.56 500.00 29.51%Professional Development 1,426.20 1,000.00 142.62%Staff Travel 7,490.99 6,000.00 124.85%UNM SOL Outreach 230.18 20,000.00 1.15%Utilities Telephone 1,128.90 1,200.00 94.08%
TOTAL EXPENSES 160,236.21 198,300.00 80.80%
CHANGE IN GENERAL NET ASSETS 121,413.37 66,700.00
RESTRICTED JLAP ACTIVITIES
EXPENSES
Contracted Statewide Clinical Services 24,360.00 26,000.00 93.69%Other Clinical Services 946.00 5,000.00 18.92%
TOTAL EXPENSES (25,306.00) (31,000.00) 81.63%
CHANGE IN RESTRICTED NET ASSETS (25,306.00) (31,000.00)
TOTAL CHANGE IN NET ASSETS 96,107.37$ 35,700.00$
JUDGES AND LAWYERS
ASSISTANCE PROGRAM
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STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
ASSETS
Cash and Equivalents 423,751.85Certificates of Deposit 506,562.78Due from State Bar 44,992.82Prepaid Insurance 140.18
TOTAL ASSETS 975,447.63$
LIABILITIES AND NET ASSETS
Liabilities
Accounts Payable 3,007.03Deferred Revenues 37,395.00
Total Liabilities 40,402.03
Net Assets
Fund Balance 836,750.63Restricted Funds Lawyer in Succession & Transition 7,733.17Current Year Increase in Net Assets 90,561.80
Total Net Assets 935,045.60
TOTAL LIABILITIES AND NET ASSETS 975,447.63$
CLIENT PROTECTION FUND
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STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
Year to Date Total YTD Budget YTD %Ended Budgeted to Actual of Total
12/31/2019 for 2019 Variance Budget
REVENUES
CPF Assessments 110,340.00 107,000.00 3,340.00 103.12%CPF Assessments (PHV) 9,255.00 8,000.00 1,255.00 115.69%Interest Earned 4,913.57 1,500.00 3,413.57 327.57%Contributions / Sanctions 1,000.00 (1,000.00) 0.00%Restitution 1,700.00 1,000.00 700.00 170.00%
TOTAL REVENUES 126,208.57 118,500.00 7,708.57 106.51%
EXPENSES
Audit 1,200.00 1,200.00 100.00%Dues & Subscriptions 225.00 250.00 (25.00) 90.00%Insuarance Allocation 556.86 500.00 56.86 111.37%Marketing/Advertising 486.05 1,000.00 (513.95) 48.61%Meetings & Governance 726.06 1,250.00 (523.94) 58.08%Mileage Reimbursement 1,640.80 2,000.00 (359.20) 82.04%Personnel 500.00 (500.00) 0.00%Postage Allocation 200.00 (200.00) 0.00%Professional Development 8,719.00 10,000.00 (1,281.00) 87.19%
TOTAL EXPENSES 13,553.77 16,900.00 (3,346.23) 80.20%
CHANGE IN NET ASSETS
Operating Revenues Over Expenses 112,654.80 101,600.00 11,054.80 110.88%
Less: Claims Approved 22,093.00 22,093.00
TOTAL INCREASE (DECREASE) IN NET ASSETS 90,561.80$ 101,600.00$ (11,038.20)$
CLIENT PROTECTION FUND
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STATEMENT OFFINANCIAL POSITIONDecember 31, 2019
ASSETSCurrent Assets
Cash and Cash Equivalents 811,419.17Accounts Receivable, net 25,677.56Prepaid Expenses 25,586.98
Total Current Assets 862,683.71
Fixed AssetsFixed Assets 1,459,449.67Accumulated Depreciation 823,542.03
Total Fixed Assets 635,907.64
TOTAL ASSETS 1,498,591.35$
LIABILITIES AND NET ASSETSLiabilitiesCurrent LiabilitiesAccounts Payable 78,733.14
Accrued LiabilitiesAccrued PTO 16,475.44Accrued Salaries 13,080.35
Total Accrued Liabilities 29,555.79
Accrued TaxesNM Income Tax 1,976.08NM Unemployment Tax 294.70NMWorker's Compensation Fee 51.60
Total Accrued Taxes 2,322.38
Intercompany PayableDue to ATJ Commission 98,737.20Children's Law Section Art Project 6,081.15Indian Law Section Scholarships 20,603.89Due to NM Supreme Court 321,118.42Related Party Payable 1,090,263.68
Total Intercompany Payable 1,536,804.34
Other Current LiabilitiesRefunds Payable 1,027.00Deferred Revenue 848.00
Total Other Current Liabilities 1,875.00
Total Current Liabilities 1,649,290.65
Total Liabilities 1,649,290.65
Net AssetsNet Assets Without Donor Restrictions (157,900.30)Net Assets With Donor Restrictions (JLAP) 7,201.00
Total Net Assets (150,699.30)
TOTAL LIABILITIES AND NET ASSETS 1,498,591.35$
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STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
One Month Year to Date Total Year to DateEnded Ended Budgeted Percentage
12/31/2019 12/31/2019 for 2019 of Total
CHANGES IN NET ASSETS WITHOUTDONOR RESTRICTIONS
REVENUES
CLE RevenuesLive Seminar 97,600.48 358,817.54 335,000.00 107.11%Video Replay 24,490.52 89,444.72 120,000.00 74.54%Teleseminars 3,476.00 23,779.00 30,000.00 79.26%On Demand & DVD 29,206.89 43,072.80 53,000.00 81.27%Webinars 6,650.00 14,563.60 20,000.00 72.82%Webcasts 73,095.66 197,233.67 300,000.00 65.74%Walk In Fees 180.00 460.00 2,500.00 18.40%CLE Course Materials 5,460.00 7,000.00 78.00%Professional Development Package 3,800.00 20,200.00 10,000.00 202.00%
Total CLE Revenues 238,499.55 753,031.33 877,500.00 85.82%
Non CLE RevenuesAnnual Meeting 185,075.00 165,000.00 112.17%Contributions 1,104.14 2,406.77 100.00%Fundraising Revenues 42,129.00 42,000.00 100.31%General Referral Program 1,620.00 26,245.00 25,000.00 104.98%Grant Revenue 19,745.20 284,088.00 297,000.00 95.65%In Kind Support from State Bar 11,181.12 118,483.68 126,600.00 93.59%Interest Earned 182.94 1,654.29 400.00 413.57%Judicial District Pro Bono Committees 3,507.86 9,893.46 20,000.00 49.47%NSF Fees 25.00 100.00%
Total Non CLE Revenues 37,341.26 670,000.20 676,000.00 99.11%
TOTAL REVENUES 275,840.81 1,423,031.53 1,553,500.00 91.60%
EXPENSES
CLE ExpensesCLE Planning 842.30 1,000.00 84.23%Course Materials 9,573.31 10,000.00 95.73%CLE Meals & Refreshments 5,231.76 24,942.51 30,000.00 83.14%Accreditation & Filing Fees 6,545.26 23,054.37 22,000.00 104.79%Co Sponsorship Teleseminars 6,994.75 14,000.00 49.96%Bar Bulletin Advertising Expense 1,490.00 17,515.20 23,000.00 76.15%Faculty Fees 19,008.68 27,837.68 30,000.00 92.79%Faculty Travel & Lodging 3,788.58 10,635.25 30,000.00 35.45%Audio/Visual Recording 9,143.02 35,097.25 35,000.00 100.28%
Total CLE Expenses 45,207.30 156,492.62 195,000.00 80.25%
Non CLE ExpensesAdvertising/Marketing 1,071.76 3,000.00 35.73%Annual Meeting 1,774.10 148,235.67 152,000.00 97.52%Bank Fees 60.00 200.00 30.00%Bar Center Expense Allocation 11,409.52 99,170.37 104,600.00 94.81%
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STATEMENT OFACTIVITIESFor the twelve months ended 12/31/2019
One Month Year to Date Total Year to DateEnded Ended Budgeted Percentage
12/31/2019 12/31/2019 for 2019 of Total
Credit Card Merchant Fees (686.02) 3,009.97 4,000.00 75.25%Compensation, Benefits, & Taxes 63,295.03 812,266.76 853,700.00 95.15%Dues & Subscriptions 75.00 2,384.09 3,500.00 68.12%Fundraising Expenses 10,363.45 12,000.00 86.36%Furniture & Equipment 314.58 4,664.11 5,100.00 91.45%Information Technology 10,455.58 127,590.96 130,110.00 98.06%Judicial District Pro Bono Committees 3,507.86 9,893.46 20,000.00 49.47%Office Supplies 85.78 862.98 2,000.00 43.15%Professional Fees Legal & Accounting 11,095.39 10,340.00 107.31%Professional Liability Insurance 155.84 1,856.17 1,100.00 168.74%Postage & Delivery 98.60 3,386.19 2,000.00 169.31%Staff Education & Travel 101.61 1,925.11 5,500.00 35.00%Taxes & Fees Corporation 50.00 0.00%Workshops Travel & Lodging 3,706.99 8,000.00 46.34%
Total Non CLE Expenses 90,587.48 1,241,543.43 1,317,200.00 94.26%
TOTAL EXPENSES 135,794.78 1,398,036.05 1,512,200.00 92.45%
CHANGE IN NET ASSETS WITHOUT DONORRESTRICTIONS BEFORE DEPRECIATION 140,046.03 24,995.48 41,300.00
Depreciation Expense 2,464.66 27,706.82
TOTAL CHANGE IN NET ASSETSWITHOUT DONOR RESTRICTIONS 137,581.37 (2,711.34)
CHANGES IN NET ASSETS WITHDONOR RESTRICTIONS
JLAP In This Together Fund Contributions 7,201.00JLAP In This Together Fund Distributions
TOTAL CHANGE IN NET ASSETSWITH DONOR RESTRICTIONS 7,201.00
TOTAL CHANGE IN NET ASSETS 137,581.37 4,489.66
Net Assets Beginning of Period (288,280.67) (155,188.96)
Net Assets End of Period (150,699.30)$ (150,699.30)$
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STATEMENT OFCASH FLOWSFor the twelve months ended 12/31/2019
One Month Year to DateEnded Ended
12/31/2019 12/31/2019
CASH FLOWS FROM OPERATING ACTIVITIES
Change in net assets without donor restrictions 137,581.37 (2,711.34)Change in net assets with donor restrictions 7,201.00
Total change in net assets 137,581.37 4,489.66Adjustments to reconcile change in net assets to netcash provided (used) by operating activities
Depreciation and amortization 2,464.66 27,706.82Change in operating assets and liabilities:
Changes in net receivables 1,247.12 21,756.09Changes in prepaid expenses (12,391.08) (16,863.99)Changes to accounts payable 58,463.31 12,861.80Changes to accrued liabilities 832.31 (2,769.39)Changes to accrued taxes (4,647.77) 504.01Changes to intercompany payables (25,783.65) (36,195.85)Changes to other liabilities 800.00 (4,043.05)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 158,566.27 7,446.10
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Assets (22,763.91)NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (22,763.91)
NET INCREASE (DECREASE) IN CASH 158,566.27 (15,317.81)
Cash beginning of period 652,852.90 826,736.98
Cash end of period 811,419.17$ 811,419.17$
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EXECUTIVE SUMMARY For the Twelve Months Ended 12/31/2019
Statement of Financial Position
Prepaid expenses of $25,587 consists of prepaid insurance policies amortized over the coverage period of the policies, the unamortized balance of the annual Intacct software subscription, and deposits for the 2020 Golf Classic and Annual Meeting events. Due to ATJ Commission of $98,737 represents the balance of donations received from private individuals, grants received from the National Center for State Courts, and a grant received from the State Bar’s Access to Justice Fund Grant Commission for the Access to Justice Commission to use in its Justice for All Initiative. The State Bar is acting as a fiscal agent for these funds and is working with the ATJ Commission’s designee regarding their disbursement. Approved payments totaling $8,791 were disbursed in December 2019. Due to the Supreme Court of $321,118 consists of Access to Justice Funds scheduled for distribution in subsequent months as ordered by the NM Supreme Court, and an allocation of donations received in memory of Judge Whitefield to the NM Supreme Court Innovation Team’s video project. Approved payments totaling $30,133 were disbursed in December 2019. Related Party Payable of $1,090,264 is the balance owed to the State Bar by the Foundation for expenses paid on behalf of the Foundation by the State Bar. Refunds payable of $1,027 consists of 2019 CLE refunds which were processed in 2020. Deferred Revenue of $848 consists of Strategic Partnership revenues allocable to 2020 events and 2020 CLE revenues collected in 2019.
Statement of Activities
The Bar Foundation has experienced a positive change in net assets of $4,490 for the twelve months ended December 31, 2019. Strategic Partnership contracts have provided a total of $54,050 in revenues for the twelve months ended December 31, 2019. $37,000 of these revenues benefit programs of the Bar Foundation, including $28,825 in Annual Meeting sponsorship and $8,175 in Golf Classic sponsorship. The remaining $17,050 of Strategic Partnership revenues benefit programs of the State Bar. CLE revenues were less than their 2019 budgeted amount by approximately $124,469. A decline in revenues generated by the “How to Practice” series and Trust Accounting CLE programs combined with fewer CLE programs offered compared to prior years as a result of staff turnover have resulted in a decrease in CLE revenues compared to prior years. 2019 CLE revenues of $753,031 represent decreases
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of 15.6% and 7.1% compared to twelve‐month totals from 2018 and 2017, respectively. The decrease in number of CLE programs offered has also resulted in CLE program expenses being under their 2019 budgeted amount by approximately $38,500. 2019 Annual Meeting revenues total $185,075 and 2019 Annual Meeting expenses total $148,236 for a net revenue of $36,839, compared to 2019 budgeted net revenue of $13,000. Factors leading to the increased net revenues included: reduced staff travel costs because the event was held in Albuquerque; lower negotiated rates for rooms and concessions in the contract for complimentary rooms; reduced audio/visual costs; reduced food costs; and an increase to sponsorship revenue over prior years. 2019 Fundraising revenues total $42,129 and 2019 Fundraising expenses total $10,363 for a net revenue of $31,766, compared to 2019 budgeted net revenue of $30,000. In‐Kind Support of $126,600 was received from the State Bar for the twelve months ended December 31, 2019. This amount directly offsets occupancy/overhead expenses of $99,170, professional fees of $8,377, and IT expenses of $54,819 allocated to the Foundation by the State Bar. This represents the State Bar’s support of the Foundation through absorption of a portion of the costs allocable to the Foundation as documented in the State Bar/Bar Foundation Memorandum of Understanding. Judicial District Pro Bono Committee revenue of $9,893 represents the Pro Bono contributions held by the Foundation for use by the Pro Bono Committees of the individual Judicial Districts. These revenues are completely offset by the Judicial District Pro Bono Committee expenses reported on the Statement of Activities. CLE program expenses were less than their 2019 budgeted amount by approximately $38,500 as a result of fewer CLE programs offered than were anticipated. Compensation expenses were less than their 2019 budgeted amount by approximately $41,400, partially due to the transition of the Foundation Development Manager to a State Bar employee when she accepted the Member Services Manager position. Postage & Delivery expenses of $3,386 have exceeded their 2019 budgeted amount by approximately $1,400. They include a one‐time mailing fee of $980 for Bar Foundation donation request letters.
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of 15.6% and 7.1% compared to twelve‐month totals from 2018 and 2017, respectively. The decrease in number of CLE programs offered has also resulted in CLE program expenses being under their 2019 budgeted amount by approximately $38,500. 2019 Annual Meeting revenues total $185,075 and 2019 Annual Meeting expenses total $148,236 for a net revenue of $36,839, compared to 2019 budgeted net revenue of $13,000. Factors leading to the increased net revenues included: reduced staff travel costs because the event was held in Albuquerque; lower negotiated rates for rooms and concessions in the contract for complimentary rooms; reduced audio/visual costs; reduced food costs; and an increase to sponsorship revenue over prior years. 2019 Fundraising revenues total $42,129 and 2019 Fundraising expenses total $10,363 for a net revenue of $31,766, compared to 2019 budgeted net revenue of $30,000. In‐Kind Support of $126,600 was received from the State Bar for the twelve months ended December 31, 2019. This amount directly offsets occupancy/overhead expenses of $99,170, professional fees of $8,377, and IT expenses of $54,819 allocated to the Foundation by the State Bar. This represents the State Bar’s support of the Foundation through absorption of a portion of the costs allocable to the Foundation as documented in the State Bar/Bar Foundation Memorandum of Understanding. Judicial District Pro Bono Committee revenue of $9,893 represents the Pro Bono contributions held by the Foundation for use by the Pro Bono Committees of the individual Judicial Districts. These revenues are completely offset by the Judicial District Pro Bono Committee expenses reported on the Statement of Activities. CLE program expenses were less than their 2019 budgeted amount by approximately $38,500 as a result of fewer CLE programs offered than were anticipated. Compensation expenses were less than their 2019 budgeted amount by approximately $41,400, partially due to the transition of the Foundation Development Manager to a State Bar employee when she accepted the Member Services Manager position. Postage & Delivery expenses of $3,386 have exceeded their 2019 budgeted amount by approximately $1,400. They include a one‐time mailing fee of $980 for Bar Foundation donation request letters.
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Memorandumof Understanding
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Financial Policies
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Financial Policies (Revised 12/13/2018)
ACCOUNTS RECEIVABLE
BILLING All customers of the State Bar will be billed through either their bar numbers or, their
identification numbers for any products or services ordered. Members will receive a statement on the month following the order or placement of an ad.
With the exception of State Bar members, all classified advertisers will prepay or have established an open account which is invoiced and paid monthly.
INTEREST CHARGES
All balances outstanding for more than 60 days, with the exception of those charged to government entities or UNM, may be charged interest at a rate of 1.5 percent per month, and the State Bar may choose to collect for the cost of insufficient funds.
DELINQUENT ACCOUNTS
If no payment is received in 90 days, the appropriate department will be notified to discontinue the service for delinquent accounts until payment in full is received. Should any customer become delinquent three times within a 12-month period, the customer will be required to prepay for the next 12 months.
A demand letter will be mailed to the member or customer 30 days prior to taking any further action.
All accounts with balances greater than $500 and that are 120 days past due will be presented to the Board of Bar Commissioners through the Finance Committee for consideration of staff recommendations.
AUDIT, AUDIT COMMITTEE AND PRESENTATION OF AUDIT
Beginning with the fiscal year 2017 audit, and continuing at six-year intervals, requests for proposals will be issued to audit firms to provide audit services for the State Bar and related entities. These requests will be issued no later than September with the contract to be awarded no later than the final BBC meeting of the year. All contracts will be one-year contracts with options to renew up to five additional years. The Finance Committee shall also act as an audit committee which shall be responsible for overseeing selection, performance, and independence of the external auditor. The Audit Committee will report the audit findings and recommendations for improvements to the Board of Bar Commissioners. Presentation of the audit shall require that final drafts of the audited financial statements and any auditor communications be submitted to Management (Executive Director) and the Audit Committee concurrently and prior to the audit report meeting.
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BANK ACCOUNTS Bank Accounts and Transfers The Finance Committee must approve any new banking relationship or the closing of any banking accounts. The Director of Finance may transfer funds between accounts with prior written authorization from the Executive Director or prior approval of the Finance Committee. Bank Statement Reconciliation The Executive Director, Director of Finance and Staff Accountant shall have electronic access to the bank statements. The Director of Finance, and the Secretary-Treasurer of the BBC at his or her discretion, reviews the bank statements for reasonableness and makes inquiries regarding any unusual or unexpected transactions. The Director of Finance and the Staff Accountant do not have the authority to authorize check requests or sign checks. Reconciliations of bank accounts are performed by the Staff Accountant and reviewed by the Director of Finance. Check Signing All State Bar and Bar Foundation checking accounts must have at least three commissioners (members of the Board of Bar Commissioners) and the Executive Director as authorized signatories. All signatories change with the new election of Board of Bar Commissioner officers. A single signature is sufficient for checks up to and including $6,000. A second signature is required for checks in excess of $6,000. Requests to establish recurring payments made by electronic transfer of funds in excess of $6,000, or once established changes to the recurring payment amount or type, shall require approval of the Finance Committee. Any additional, non-recurring payment made by electronic transfer of funds up to and including $6,000 shall require the approval of one authorized signatory with notice to the Executive Committee. Any additional, non-recurring payment made by electronic transfer of funds in excess of $6,000 shall require the approval of two authorized signatories with notice to the Executive Committee. All check requests must be authorized by one of the five approved reviewers (Executive Director, General Counsel, Assistant Executive Director for the NM State Bar Foundation, Director of Governance and Administration, and the Director of Communications) before preparation and submission for signing. If the individual who prepares the check request has signing authority, then the check request must be approved by a separate member of the approved reviewers. If the recipient of the check is an approved reviewer other than the Executive Director, the check request must be approved by the Executive Director. If the recipient of the check is the Executive Director, the check request must be approved by the General Counsel.
JOURNAL ENTRIES The Director of Finance and Staff Accountant may post journal entries. All journal entries posted by the Staff Accountant are reviewed by the Director of Finance. All journal entries are reviewed by the Director of Finance and the Executive Director on a monthly basis.
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BAR DUES REFUND POLICY In general, by policy of the State Bar, bar dues are not refundable. However, the Board authorizes the Executive Director to automatically grant fee waiver requests for active-deployed military reservists or other personnel. Additionally, Rule 24-102(G) NMRA permits the Board of Bar Commissioners to waive all or part of any license fee in cases of extreme individual hardship. The Executive Director shall refer all other requests for fee waiver to the Board and to the Disciplinary Board as may be appropriate under the rule.
CREDIT CARD POLICY The State Bar of New Mexico (hereinafter “State Bar”) will issue credit cards to certain employees for use relating to their State Bar employment. This policy sets out the acceptable and unacceptable uses of such credit cards. Use of State Bar-issued credit cards is a privilege, which the State Bar may withdraw in the event of serious or repeated abuse. Any credit card the State Bar issues to an employee must be used for business purposes only, in conjunction with the employee's job duties. Employees with such credit cards shall not use them for any non-business, non-essential purpose, i.e., for any personal purchase or any other transaction that is not authorized or needed to carry out their duties. Employees must pay for personal purchases (i.e., transactions for the benefit of anyone or anything other than the State Bar) with their own funds or personal credit cards. The State Bar will not regard expenses for one's own business-related use, such as lodging and meals while on State Bar-approved business trips, as personal purchases, as long as such expenses are consistent with the State Bar's travel and expense reimbursement policy. If any employee uses a State Bar credit card for personal purchases in violation of this policy, the cost of such purchase(s) will be considered an advance of future wages payable to that employee, and will be recovered in full from the employee's next paycheck or subsequent paychecks, as needed, until the wage advance is fully repaid. However, any such deductions shall not take the employee's pay below minimum wage for the pay period(s) in question. If an employee uses a State Bar credit card for any other type of unauthorized transaction in violation of this policy, i.e., incurs financial liability on the State Bar's part that is not within the scope of the employee's duties or the employee's authorization to make business-related purchases, the cost of such purchase(s) or transaction will be the financial responsibility of that employee, and the employee will be expected to reimburse the State Bar via deductions from pay until the unauthorized amount is fully repaid, again to be paid over multiple paychecks, at the discretion of the State Bar, so long as no employee’s pay will fall below minimum wage. In addition to financial responsibility and liability for wage deductions, any purchases an employee makes with a State Bar credit card in violation of this policy may result in disciplinary action, up to and possibly including termination of employment. All credit card expense reports must be authorized by one of the five approved reviewers (Executive Director, General Counsel, Assistant Executive Director for the NM State Bar Foundation, Director of Governance and Administration, and the Director of Communications) before submission to the accounting department for processing.
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FINANCE COMMITTEE The President shall appoint a Finance Committee which consists of 5 or more Board members and may appoint one non-Board member of the State Bar of New Mexico who shall have an accounting background. Additionally, the Executive Director of the State Bar and the Director of Finance shall be non-voting members of the Committee. One member shall be the immediate past Secretary-Treasurer and one the President-elect of the State Bar of New Mexico. The Secretary-Treasurer shall serve as chair. The purpose of the Finance Committee shall be oversight of the bars’ financial reporting, which includes:
Preparation of regular reports to the Board of Bar Commissioners Preparation of annual disclosure document (budget) Act as the Audit Committee as noted above and review annual external audit report
and respective financials Financial review of Request for Proposals per the RFP policy Perform or supervise special financial investigations Monitor the status of issues raised by the external auditor’s annual management
letter, (if any). If any non-officer member of the Finance Committee shall fail to attend two (2) successive meetings of the committee, his/her position shall be automatically vacated, unless excused upon good cause accepted by the chair of the committee. If the committee membership falls below five, then the President shall appoint a representative(s).
PROPERTY AND EQUIPMENT Property and equipment are recorded at cost for purchased items and at fair market value at the date of contribution for donated items. Depreciation is calculated using the straight-line method over the estimated useful lives of the individual assets, which range from two to 39 years, for all assets with a value of $3,500 or greater and an estimated useful life of greater than one year. A fixed asset roll-forward schedule has been created which includes asset additions, disposals, monthly depreciation, and accumulated depreciation totals. The Director of Finance will review any requests for asset disposals before posting.
REPORTING TRUST ACCOUNT IMPROPRIETIES It is the Bar’s ethical obligation to report trust account violations to the Disciplinary Board. When a possible violation is discovered as part of normal accounting administration, the Executive Director will be notified and will review the circumstances with the State Bar’s General Counsel. If a violation appears to have occurred, the Executive Committee and the Disciplinary Board will be notified. This policy is separate and independent of any duties required by the State Bar’s IOLTA Administration or an attorney’s own ethical duties.
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REQUEST FOR PROPOSALS For purchases of tangible personal property or services with a value under $6,000, the Executive Director shall select the vendor based upon the best obtainable price and terms to be determined by the Executive Director or his or her designee in a reasonable manner. For purchases of tangible personal property or services with a value of $6,000 to $30,000, the Executive Director or his or her designee shall obtain two written quotes or proposals unless such quotes or proposals cannot be obtained. For such purchases, the Executive Director shall select the vendor that is the most beneficial to the State Bar at a fair and reasonable price. For purchases of tangible personal property or services with a value in excess of $30,000, the Executive Director or his or her designee shall obtain three or more written quotes or proposals unless such quotes or proposals cannot be obtained. The Executive Director shall evaluate the proposals and recommend to the Board the vendor that is most beneficial to the State Bar at a fair and reasonable price. The Board will have final approval authority for contracting and purchases. Copies of quotes or proposals, and other documentation of exceptions to this purchasing policy, shall be maintained by the Director of Finance for a period of at least one year.
CONTRACT NEGOTIATIONS
To more fully accomplish its mission and support its revenues, the State Bar of New Mexico, from time to time, enters into contracts, service agreements, or leases with outside entities. The Board of Bar Commissioners retains the ultimate authority to negotiate and approve these agreements. However, the Board believes that to facilitate the day-to-day operations of the State Bar, delegation of some responsibility for entering into these agreements to the Executive Director is appropriate. Consequently, the Board adopts the following policy: 1. A letter of intent which merely establishes an interest in applying for funding for grants
requested by the State Bar may be executed by the Executive Director, with notice given to the Board.
2. Contracts or grants that are a continuation of agreements that have been approved by the Board, where the scope of the program is not adjusted and there is no more than a ten percent increase in the financial obligation of the State Bar over the current contract, may be executed by the Executive Director with notice given to the Board.
3. All contracts must be within the scope and, if applicable, the financial limits of the current year budget unless authorized by the Board. Purchases of tangible personal property or services must comply with the Request for Proposals policy. Contracts in the amount of $30,000 or less may be executed by the Executive Director without prior approval of the Board. Contracts over $30,000 (in the current budget year or in aggregate for the length of the agreement) may be executed by the Executive Director only with the prior approval of the Board of the State Bar as defined by the Request for Proposals policy.
4. Prior to execution by the Executive Director, all contracts, in their final form, shall be reviewed by the General Counsel for legal sufficiency.
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Contract Retention The following original executed contracts shall be maintained by the Office of General Counsel for seven years past end of term:
Contracts in Excess of $6,000 (single contract or in the aggregate over a term) Multi-year contracts of any amount Any contracts that contain an auto-renew provision
CONTRIBUTION/DONATION POLICY
Contribution Request Procedures and Guidelines
The State Bar of New Mexico recognizes the value of supporting law related programs and organizations and will consider requests for financial support not to exceed $1,000.
Guidelines for Qualification
For a contribution request to be eligible for State Bar financial support the following criteria must be met:
The event or program must support law-related organizations or activities and must be consistent with State Bar core values of integrity, service, diversity, professionalism, justice and leadership.
Funds may not be used for alcohol or religious services. The event or program must be consistent with Keller v. State Bar of California, 496 U.S.
1 (1990), requirements. Recipients must include sponsorship recognition in brochures, programs, or other event
materials distributed. Recipients must utilize awarded funds for the event or program requested, and upon
request, provide a report after the event. Eligibility for consideration does not guarantee an award. All award decisions are at the discretion of the Board.
Application Process
To apply, a requestor must submit a letter requesting contribution to the Executive Director ([email protected]). The request should include the amount of funds being requested, the proposed use of the funds, deadline for receipt of the funds, supporting documentation addressing the criteria above, and contact information. Requests will be considered by the Board of Bar Commissioners at the next, regularly scheduled meeting. If the funding deadline is prior to the next Board meeting, the Executive Committee of the Board of Bar Commissioners may consider the request.
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Investment Policy
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INVESTMENT POLICY
PURPOSE
The purpose of this policy is to provide guidelines for the management of the cash assets of the State Bar of New Mexico (SBNM). The guidelines and objectives will be specific enough to provide the Executive Director and Finance Committee with an understanding of the investment objectives. The procedures and guidelines will provide sufficient flexibility to allow for changing economic conditions and securities markets. The cash assets are to be invested in a manner which:1) ensures the protection of the Bar's cash assets; 2) provides a dependable source of operating revenues; and 3) ensures liquidity (hereinafter referred to collectively as "the Fund").
INVESTMENT OBJECTIVES
The primary objective is to ensure the safety and protection of the cash assets; the second objective is to ensure sufficient liquidity; the third objective is to obtain the highest possible rate of return; and the final objective is to ensure the lowest level of risk. The assets must be invested with care, skill and diligence. All investments will be made within the guidelines of quality, marketability and diversification and in compliance with any controlling state and/or federal statutes or any other guidelines directly affecting the prudent investment of assets.
INVESTMENT GUILDELINES AND LIMITATIONS
I. The Finance Committee shall develop and communicate to the Executive Directorand the Board, general or specific guidelines of investment of "the Fund" giving dueconsideration to the following objectives insofar as feasible: (i) preserving capital,while (ii) providing returns that maintain or reasonably increase the yield and value ofsuch assets against inflation and increasing fixed costs, and (iii) preserving suchliquidity as may be suitable to meet foreseeable needs for Fund reserves. As ageneral guideline, the Finance Committee should attempt to distribute risk amongdifferent types or issues of securities and diversify the maturity dates of "the Fund"investments, unless there are good reasons to recommend modifications to theinvestment policy to the Board.
II. "The Fund" shall be invested only in the following types of instruments:
(A) insured certificates of deposit with banks or other major financialinstitutions rated A or above as defined by Standard and Poors;
(B) obligations of the U.S. Treasury and federal agencies, and otherdebt instruments insured or guaranteed by the U.S. government;
(C) first mortgage public utility bonds rated BBB or higher by Standardand Poors or an equivalent rating service;
(D) money market funds that restrict their investments to the above typesof instruments; and
(E) other types of investments as specifically approved by the Board.
Ill. "The Fund" shall be invested pursuant to the following guidelines for authorized investments:
(A) Fixed Income Investments
(1) Direct Investments
(a) U.S. Government or U.S. Agency Bonds. The SBNM may invest inany U.S. Treasury or U.S. agency security with a maturity not toexceed 10 years. These securities will be purchased through anauthorized security broker or bank and may be held in safekeepingat one of the SBNM's banks or in street name at a brokerage firm.No more than 20% of "the Fund" shall be invested in theseinstruments.
(b) Corporate Bonds. The SBNM may invest in Corporate Bonds with aStandard & Poor's rating of at least A and/or Moody's rating of atleast A, and a maturity of not more than 10 years. No more than5%of an individual issue shall be purchased by the SBNM, nor shallmore than 5% of "the Fund" be invested in the securities of any oneissuer. No more than 15% of "the Fund" shall be invested in any oneindustry.
(c) Mortgage Backed Securities. The SBNM may invest in mortgagebacked securities, no less than half of which are backed by the U.S.Treasury or another federal agency (GNMA, FNMA or FHLMC). Nomore than 15% of "the Fund" shall be invested in mortgage backedsecurities.
(2) Fixed Investment Funds. The SBNM may invest in no-loan fixed investmentfunds which have annual operating expenses of less than 1 % but no morethan 10% of "the Fund" shall be invested in any one fund.
(B) Cash (or Cash Equivalent) Reserves
(1) Cash Management Account. A cash management account through a fundmanager or a broker may be used as a cash account.
(2) U.S. Treasury Bills or Short Term {less than one year) U.S. Government orAgency Notes. These securities may be purchased through an authorizedsecurity broker or bank and held in safekeeping with one of the SBNM'sbanks or in street name at a brokerage firm.
(3) Certificate of Deposit. A certificate of deposit, with a maturity of one year orless with any federally insured financial institution may be purchased in anamount not to exceed $100,000.00, provided that the total deposits withany single institution not exceed federally insured limits.
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INVESTMENT POLICY
PURPOSE
The purpose of this policy is to provide guidelines for the management of the cash assets of the State Bar of New Mexico (SBNM). The guidelines and objectives will be specific enough to provide the Executive Director and Finance Committee with an understanding of the investment objectives. The procedures and guidelines will provide sufficient flexibility to allow for changing economic conditions and securities markets. The cash assets are to be invested in a manner which:1) ensures the protection of the Bar's cash assets; 2) provides a dependable source of operating revenues; and 3) ensures liquidity (hereinafter referred to collectively as "the Fund").
INVESTMENT OBJECTIVES
The primary objective is to ensure the safety and protection of the cash assets; the second objective is to ensure sufficient liquidity; the third objective is to obtain the highest possible rate of return; and the final objective is to ensure the lowest level of risk. The assets must be invested with care, skill and diligence. All investments will be made within the guidelines of quality, marketability and diversification and in compliance with any controlling state and/or federal statutes or any other guidelines directly affecting the prudent investment of assets.
INVESTMENT GUILDELINES AND LIMITATIONS
I. The Finance Committee shall develop and communicate to the Executive Directorand the Board, general or specific guidelines of investment of "the Fund" giving dueconsideration to the following objectives insofar as feasible: (i) preserving capital,while (ii) providing returns that maintain or reasonably increase the yield and value ofsuch assets against inflation and increasing fixed costs, and (iii) preserving suchliquidity as may be suitable to meet foreseeable needs for Fund reserves. As ageneral guideline, the Finance Committee should attempt to distribute risk amongdifferent types or issues of securities and diversify the maturity dates of "the Fund"investments, unless there are good reasons to recommend modifications to theinvestment policy to the Board.
II. "The Fund" shall be invested only in the following types of instruments:
(A) insured certificates of deposit with banks or other major financialinstitutions rated A or above as defined by Standard and Poors;
(B) obligations of the U.S. Treasury and federal agencies, and otherdebt instruments insured or guaranteed by the U.S. government;
(C) first mortgage public utility bonds rated BBB or higher by Standardand Poors or an equivalent rating service;
(D) money market funds that restrict their investments to the above typesof instruments; and
(E) other types of investments as specifically approved by the Board.
Ill. "The Fund" shall be invested pursuant to the following guidelines for authorized investments:
(A) Fixed Income Investments
(1) Direct Investments
(a) U.S. Government or U.S. Agency Bonds. The SBNM may invest inany U.S. Treasury or U.S. agency security with a maturity not toexceed 10 years. These securities will be purchased through anauthorized security broker or bank and may be held in safekeepingat one of the SBNM's banks or in street name at a brokerage firm.No more than 20% of "the Fund" shall be invested in theseinstruments.
(b) Corporate Bonds. The SBNM may invest in Corporate Bonds with aStandard & Poor's rating of at least A and/or Moody's rating of atleast A, and a maturity of not more than 10 years. No more than5%of an individual issue shall be purchased by the SBNM, nor shallmore than 5% of "the Fund" be invested in the securities of any oneissuer. No more than 15% of "the Fund" shall be invested in any oneindustry.
(c) Mortgage Backed Securities. The SBNM may invest in mortgagebacked securities, no less than half of which are backed by the U.S.Treasury or another federal agency (GNMA, FNMA or FHLMC). Nomore than 15% of "the Fund" shall be invested in mortgage backedsecurities.
(2) Fixed Investment Funds. The SBNM may invest in no-loan fixed investmentfunds which have annual operating expenses of less than 1 % but no morethan 10% of "the Fund" shall be invested in any one fund.
(B) Cash (or Cash Equivalent) Reserves
(1) Cash Management Account. A cash management account through a fundmanager or a broker may be used as a cash account.
(2) U.S. Treasury Bills or Short Term {less than one year) U.S. Government orAgency Notes. These securities may be purchased through an authorizedsecurity broker or bank and held in safekeeping with one of the SBNM'sbanks or in street name at a brokerage firm.
(3) Certificate of Deposit. A certificate of deposit, with a maturity of one year orless with any federally insured financial institution may be purchased in anamount not to exceed $100,000.00, provided that the total deposits withany single institution not exceed federally insured limits.
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UNAUTHORIZED INVESTMENTS
Direct purchases in leverage investments, options, puts or calls, commodities, or other vehicles that are subject to unreasonable risk or jeopardy are not currently authorized for investment. Unauthorized investments shall also include "load" funds (whether front or back loaded), selling short, commodities other than stock index futures and financial futures, lettered stock, and foreign securities other than those listed on the New York Stock Exchange. Any investment not specifically listed as an "authorized investment" is not authorized for direct purchase even if not included in the list of unauthorized investments. Exceptions to this general policy may only be made by the Board, in keeping with the objective of maintaining security of principal and obtaining as much appreciation as possible under the investment guidelines.
INVESTMENT MANAGEMENT
I. AUTHORITY OF EXECUTIVE DIRECTOR AND FINANCE COMMITTEE
(A) The day-to-day management of "the Fund" shall be vested in theExecutive Director of the State Bar of New Mexico, subject to supervisionby the Finance Committee and the Board. As deemed necessary, theFinance Committee can employ the services of a financial consultant.
(B) The Finance Committee shall on a regular basis, review the investmentportfolio of the "Fund" to ensure that each investment of the fund isperforming reasonably well relative to its particular peer group andaccording to the tenor of the market for that type of investment. In theevent that a particular investment is performing below the standardsadopted by the Executive Director and the Finance Committee, or isperforming poorly, relative to its peer group, then the investment will bereplaced if, under the circumstances, it would be prudent to do so. Inaddition, the Finance Committee shall, on a regular basis review the levelof fund reserves, and any expenditures that have been made from the"Fund" or appear to be warranted. The Finance Committee shall set andcommunicate policies or specific instructions concerning such matters tothe Executive Director as needed, and shall make reports andrecommendations as appropriate to the Board concerning such matters.Where it would be impractical, unnecessary or unreasonable for theExecutive Director to seek the Finance Committee's advanceauthorization for a specific investment because of its limited size,conformity to the stated policies or directions of the Finance Committee,or exigent circumstances, the Executive Director is authorized to makesuch investments subject to these Guidelines and the FinanceCommittee's subsequent ratification.
(c) The Executive Director is authorized and directed to deposit or transferfunds (only between authorized investment accounts of the State Bar ofNew Mexico) in accordance with the Bar's Investment Policy.
11. AUTHORITY OF BOARD
(A) Subject to these guidelines, the Board shall have full authority over theuses and administration of "the Fund."
(B) Not less than once a year, the Board shall:
(1) review all expenditures (if any) made from "the Fund" since thepreceding Board review;
(2) consider and direct any additional appropriate expenditures from"the Fund" reserves (if any); and
(3) set and communicate goals and policies to the SBNM's FinanceCommittee and Executive Director concerning an appropriate levelof "the Fund" reserves to be achieved or maintained.
INVESTMENT RESPONSIBILITY
Investment authority and responsibility for SBNM funds rests with the Board of Bar Commissioners. The Executive Director and /or the Finance Committee, through the SecretaryTreasurer, shall monitor and control all investment activity.
CURRENT OPERA TING FUNDS
Maintain a liquid, minimal risk pool of cash assets needed to meet operating expenditures for 12 months, taking into account projected income from all sources during this period. The Operating Fund consists of dues revenue, interest income on the Bar accounts, advertising revenue, subscription sales and other miscellaneous income. The nature of this Fund is primarily short-term.
The current operating funds are invested in Invest Account/Repurchase Transactions (an investment in an institution which is 100 percent collateralized by high grade investments, primarily U.S. Government, state, municipal and U.S. Government agency guaranteed securities). The securities that are the subject of the Repurchase Agreement must be direct obligation of or guaranteed by the United States, its agencies or instrumentality's including for example, securities issued by FNMA and FHLMC. (They have a current market value equal to or greater than the principal amount of the transaction).
RESERVE FUND
The primary purpose of the Reserve Fund is to provide funds for unforeseen future contingencies. The "Fund" consists of the accumulated reserves (current assets minus current liabilities). The reserve portion of the portfolio is likely to be used to fund fiscal year deficits and unforeseen financial emergencies. The funds are long-term in nature and it is not expected that the funds would be needed without substantial prior notice. The income from this Reserve Fund is used to fund current operations and is not invested within the "Fund."
The maximum to be added to the Reserve Fund each year will be the lesser of $50,000 or an amount necessary to bring the Reserve Fund to one-half of the Association's annual operating budget. Reserve Funds shall not be expended without the approval of the Board of Bar
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UNAUTHORIZED INVESTMENTS
Direct purchases in leverage investments, options, puts or calls, commodities, or other vehicles that are subject to unreasonable risk or jeopardy are not currently authorized for investment. Unauthorized investments shall also include "load" funds (whether front or back loaded), selling short, commodities other than stock index futures and financial futures, lettered stock, and foreign securities other than those listed on the New York Stock Exchange. Any investment not specifically listed as an "authorized investment" is not authorized for direct purchase even if not included in the list of unauthorized investments. Exceptions to this general policy may only be made by the Board, in keeping with the objective of maintaining security of principal and obtaining as much appreciation as possible under the investment guidelines.
INVESTMENT MANAGEMENT
I. AUTHORITY OF EXECUTIVE DIRECTOR AND FINANCE COMMITTEE
(A) The day-to-day management of "the Fund" shall be vested in theExecutive Director of the State Bar of New Mexico, subject to supervisionby the Finance Committee and the Board. As deemed necessary, theFinance Committee can employ the services of a financial consultant.
(B) The Finance Committee shall on a regular basis, review the investmentportfolio of the "Fund" to ensure that each investment of the fund isperforming reasonably well relative to its particular peer group andaccording to the tenor of the market for that type of investment. In theevent that a particular investment is performing below the standardsadopted by the Executive Director and the Finance Committee, or isperforming poorly, relative to its peer group, then the investment will bereplaced if, under the circumstances, it would be prudent to do so. Inaddition, the Finance Committee shall, on a regular basis review the levelof fund reserves, and any expenditures that have been made from the"Fund" or appear to be warranted. The Finance Committee shall set andcommunicate policies or specific instructions concerning such matters tothe Executive Director as needed, and shall make reports andrecommendations as appropriate to the Board concerning such matters.Where it would be impractical, unnecessary or unreasonable for theExecutive Director to seek the Finance Committee's advanceauthorization for a specific investment because of its limited size,conformity to the stated policies or directions of the Finance Committee,or exigent circumstances, the Executive Director is authorized to makesuch investments subject to these Guidelines and the FinanceCommittee's subsequent ratification.
(c) The Executive Director is authorized and directed to deposit or transferfunds (only between authorized investment accounts of the State Bar ofNew Mexico) in accordance with the Bar's Investment Policy.
11. AUTHORITY OF BOARD
(A) Subject to these guidelines, the Board shall have full authority over theuses and administration of "the Fund."
(B) Not less than once a year, the Board shall:
(1) review all expenditures (if any) made from "the Fund" since thepreceding Board review;
(2) consider and direct any additional appropriate expenditures from"the Fund" reserves (if any); and
(3) set and communicate goals and policies to the SBNM's FinanceCommittee and Executive Director concerning an appropriate levelof "the Fund" reserves to be achieved or maintained.
INVESTMENT RESPONSIBILITY
Investment authority and responsibility for SBNM funds rests with the Board of Bar Commissioners. The Executive Director and /or the Finance Committee, through the SecretaryTreasurer, shall monitor and control all investment activity.
CURRENT OPERA TING FUNDS
Maintain a liquid, minimal risk pool of cash assets needed to meet operating expenditures for 12 months, taking into account projected income from all sources during this period. The Operating Fund consists of dues revenue, interest income on the Bar accounts, advertising revenue, subscription sales and other miscellaneous income. The nature of this Fund is primarily short-term.
The current operating funds are invested in Invest Account/Repurchase Transactions (an investment in an institution which is 100 percent collateralized by high grade investments, primarily U.S. Government, state, municipal and U.S. Government agency guaranteed securities). The securities that are the subject of the Repurchase Agreement must be direct obligation of or guaranteed by the United States, its agencies or instrumentality's including for example, securities issued by FNMA and FHLMC. (They have a current market value equal to or greater than the principal amount of the transaction).
RESERVE FUND
The primary purpose of the Reserve Fund is to provide funds for unforeseen future contingencies. The "Fund" consists of the accumulated reserves (current assets minus current liabilities). The reserve portion of the portfolio is likely to be used to fund fiscal year deficits and unforeseen financial emergencies. The funds are long-term in nature and it is not expected that the funds would be needed without substantial prior notice. The income from this Reserve Fund is used to fund current operations and is not invested within the "Fund."
The maximum to be added to the Reserve Fund each year will be the lesser of $50,000 or an amount necessary to bring the Reserve Fund to one-half of the Association's annual operating budget. Reserve Funds shall not be expended without the approval of the Board of Bar
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Commissioners. Amounts expended shall be disclosed to the membership in the next budget disclosure document published following the expenditure of Reserve Funds.
The Reserve Fund should be invested in one of the following: U.S. Government Securities, Certificates of Deposit; U.S. Government Securities Money Market Funds. The Reserve Fund should be invested with the best rate of return with the least amount of risk and must be federally insured. Investments shall be made in such a manner as to provide cash availability to meet the liquidity needs of SBNM.
SPECIAL PURPOSE FUNDS
SBNM funds determined by the Executive Director and the Finance Committee or its designee(s) to constitute funds designated for a special purpose shall be invested in the same manner as funds designated as Current Operating Funds.
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Commissioners. Amounts expended shall be disclosed to the membership in the next budget disclosure document published following the expenditure of Reserve Funds.
The Reserve Fund should be invested in one of the following: U.S. Government Securities, Certificates of Deposit; U.S. Government Securities Money Market Funds. The Reserve Fund should be invested with the best rate of return with the least amount of risk and must be federally insured. Investments shall be made in such a manner as to provide cash availability to meet the liquidity needs of SBNM.
SPECIAL PURPOSE FUNDS
SBNM funds determined by the Executive Director and the Finance Committee or its designee(s) to constitute funds designated for a special purpose shall be invested in the same manner as funds designated as Current Operating Funds.
PO Box 92860 (87199-2860) | 5121 Masthead NE | Albuquerque, NM 87109505-797-6000 | Fax: 505-828-3765 | email: [email protected]
www.nmbar.org
