Attorney General Raúl Torrez of New Mexico has introduced legislation in response to allegations of financial mismanagement at Western New Mexico University. The proposed constitutional amendment would clarify the responsibilities of university boards of regents, emphasizing their fiduciary duty to act in the best interest of the institution. Additionally, Senator George Muñoz has announced a companion bill that would increase oversight in the hiring of university presidents.
If passed, Senate Bill 266 would require university boards to seek approval from the board of finance for contracts of top administrative positions. The bill also mandates annual reporting of administration contracts and total compensation to the attorney general’s office. Senator Muñoz emphasized the importance of accountability and transparency, especially in light of tuition increases at WNMU despite the introduction of free college tuition in New Mexico.
Both Torrez and Muñoz hope that these measures will help rebuild public trust in the state’s higher education institutions and prevent financial misconduct in the future. The proposed legislation aims to address concerns surrounding excessive compensation and ensure that taxpayer dollars are being used responsibly. It will be up to the Legislature and voters to decide on these important reforms that seek to protect the interests of students and the public.
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