Make the Filling:

Heat olive oil in a skillet over medium heat. Add onion and bell pepper and cook, stirring now and then until onion is translucent and peppers are a little softened. Add garlic and cook for a minute longer. (If using powder stir in at the next stage, below.)

Add 1/4 of the can of green chile, saving the rest for sauce, salt, pepper and cumin, and stir. Add the cream cheese and stir until melted, then the grated cheese. Fold in the steak. Taste and adjust any seasoning. (The cheeses can dull flavors, so spice this liberally.)

Assemble & Cook:

Arrange tortillas on a flat surface and add 1/4 of the steak mixture halfway between the bottom edge and the center of the tortilla. Smooth filling into a rectangular shape with space to the left and right. Fold up the bottom of tortilla then fold in the right and left edges, securing the filling in the center. Continue to roll the bottom edge up and over, into a cylinder shape, securing with a toothpick.

To fry: Pour enough canola oil into a saucepan to reach about 1 inch deep; heat to 375 degrees F (190 degrees C). Fry on each side for one to two minutes until golden brown and crispy. Drain on paper towels and serve immediately napped with the sauce.

To bake: Preheat oven to 375 degrees. Brush the chimichangas with oil and bake until golden brown and crisp, 4 to 5 minutes per side, turning after the first side is browned and crispy. Serve napped with sauce.

Make the Sauce:

Heat butter in a small saucepan over medium heat. Stir in the flour, and cook for 1 minute, stirring constantly. Whisk in the broth and bring to a boil until sauce has thickened.

Add the reserved canned green chile, and remove from heat. Stir in the sour cream. Taste and add salt and pepper and cayenne or chili powder if using. Keep warm. Divide over Chimichangas when serving.

Garnish as Desired.

Chimichangas can be baked or fried until just lightly browned and frozen, wrapped in foil. Reheat in the oven, unwrapped, at 375 degrees until hot throughout.