Background on the Quintana Roo Extinction Fund
The Quintana Roo Extinction Fund, established in 2005, was designed to manage governmental surplus resources from various state departments, decentralized bodies, state-majority enterprises, and constitutional trusts. The fund invested these resources in financial instruments or yield-generating assets, subsequently channeling the profits to programs or as directed by the state executive power holder.
Outdated Operational Model
Although the fund’s scheme responded to institutional and economic conditions of its time, its operational model relied on intermediation with brokerage firms for investment portfolio formation. This approach has become obsolete compared to current financial mechanisms and platforms that enable direct operations with investment instruments, eliminating unnecessary intermediaries and significantly reducing management commission costs.
Practical Implications
As a result of this decreed extinction, the resources previously managed by the Quintana Roo Extinction Fund will be transferred to a bank account under the State Government. All intermediary brokerage contracts have been canceled, and related bank accounts closed.
Preventing Resource Duplication
This measure ensures the prevention of resource duplication in managing state government surpluses. Effective November 6, 2025, all remaining resources, operations, and pending procedures will be transferred to the Secretariat of Finance and Planning under the State Government.
Addressing Potential Irregularities
The decree stipulates that if any irregularities are detected during the Quintana Roo Extinction Fund’s final accounting and financial closure, appropriate actions must be taken in accordance with the Quintana Roo State and Municipal Administrative Responsibilities Law and other applicable legislation.
Key Questions and Answers
- What was the Quintana Roo Extinction Fund? It was a fund established in 2005 to manage governmental surplus resources from various state departments, decentralized bodies, state-majority enterprises, and constitutional trusts.
- Why was the fund extinguished? The operational model relied on intermediation with brokerage firms for investment portfolio formation, which has become obsolete compared to current financial mechanisms.
- What happens to the fund’s resources? The resources will be transferred to a bank account under the State Government, and all intermediary brokerage contracts have been canceled.
- How does this affect resource management? This measure ensures the prevention of resource duplication in managing state government surpluses.
- What if irregularities are found? Appropriate actions must be taken in accordance with the Quintana Roo State and Municipal Administrative Responsibilities Law and other applicable legislation.
