New Mexico

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    • Headlines

      Needy States Use Housing Aid Cash to Plug Budgets

      The New York Times | by Shaila Dewan | May 16, 2012

      Only 27 states have devoted all their funds from the banks to housing programs, according to a report by Enterprise Community Partners, a national affordable housing group. So far about 15 states have said they will use all or most of the money for other purposes.

    • Headlines

      Census state pension survey 2007-1010

      by Frank Keegan, Andrew Guevara | May 15, 2012

      The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds.  See how your state is doing.

    • Headlines

      Latest studies show growing pension peril

      State Budget Solutions | May 14, 2012

      Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.

    • Headlines

      Local and state governments look for creative ways to fund transportation projects

      State Budget Solutions | by Jimmy Ardis | May 14, 2012

      Constrained budgets and deficit reduction efforts mean federal fewer dollars for infrastructure. As such, the burden is shifting more to state and local governments, which are being forced to find creative funding solutions.

    • Research

      "GASB Won't Let Me" - A False Objection to Public Pension Reform

      The Laura and John Arnold Foundation | by Robert M. Costrell | May 9, 2012

      Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.

    • View All News Stories

    Budget timeline: Annual 

     

    Fiscal Year starts: July 1

     

     

    NM Gov Martinez

    Gov. Susana Martinez
    State Capitol
    Fourth Floor
    Santa Fe, NM 87501
    Phone: (505) 476-2200
    Fax: (505) 476-2226

     

     

     

    Tom Clifford, Secretary
    Department of Finance & Administration
    180 Bataan Memorial Building
    Santa Fe, NM 87501
    Phone (505) 827-4985
    Fax (505) 827-3861
    http://www.nmdfa.state.nm.us

     

    2012 Legislative Calendar: Regular Session convenes January 17, adjourns February 16.

     

    Legislative Budget Leaders:

    Rep. Henry Kiki Saavedra (D), Chair, House Appropriations & Finance Committee; Vice-Chair, Investments & Pensions Oversight Committee, henry.saavedra@nmlegis.gov (505) 986-4316

    Rep. Patricia A. Lundstrom (D), Vice-Chair, House Appropriations & Finance Committee, patricia.lundstrom@nmlegis.gov (505) 986-4432

    Sen. John Arthur Smith (D), Chair, Senate Finance Committee; Chair, Legislative Finance Committee, john.smith@nmlegis.gov (505) 986-4365

    Sen. Carlos R. Cisneros (D), Vice-Chair, Senate Finance Committee, carlos.cisneros@nmlegis.gov (505) 986-4362

    Rep. Luciano "Lucky" Varela (D), Vice-Chair, Legislative Finance Committee, lucky4st@msn.com (505) 986-4320

    Rep. Edward C. Sandoval (D), Chair, House Taxation & Revenue Committee, edward.sandoval@nmlegis.gov (505) 344-8449

    Rep. Jim R. Trujillo (D), Vice-Chair, House Taxation & Revenue Committee, jimtrujillo@msn.com (505) 986-4255

    Sen. George K. Munoz (D) Chair, Investments & Pensions Oversight Committee, munozgeo@gmail.com (505) 986-4387

     

     

    The current state budget can be found here.

     

    Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities.

     

    new mexico budget trends graph

     

    New Mexico is required to pass a "balanced budget." Section 6-3-10 of the State law defines the budget as an estimate of State expenditures and proposals for funding them. New Mexico law forbids the carrying over of a deficit from one year to the next.

     

    The State maintains 21 individual funds, 6 of which are major funds: the General, Education, Health and Human Services, Highway and Transportation, Severance Tax Permanent, and Land Grant Permanent Funds. The budget is adopted on a modified accrual basis of accounting that is consistent with GAAP. All of the major funds are budgeted except for the Severance Tax Permanent Fund and the Land Grand Permanent Fund. No non-major funds are budgeted. The State's data sheet shows a significant difference between budgeted and actual figures (expenditures and revenues). Budgetary Comparison Schedules are missing beginning and ending balances.  [from the Institute for Truth in Accounting]

     

    Find the state's bond ratings here.

    SR Logo

    The Rio  Grande FoundationRio Grande logo


     

    • Pensions :

    • HEADLINES

      Census state pension survey 2007-1010

      by Frank Keegan, Andrew Guevara | May 15, 2012

      The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds.  See how your state is doing.

    • HEADLINES

      Latest studies show growing pension peril

      State Budget Solutions | May 14, 2012

      Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.

    • View All New Mexico articles
    • Solutions: New Mexico

      Ten Reasons to Shut the Rail Runner Down Now

      The Rio Grande Foundation | by Paul J. Gessing | October 31, 2011

      Passenger rail will always have its advocates and, while technology and population densities may someday make passenger rail financially-viable, it is not currently feasible in New Mexico. Unfortunately, solutions like higher fares and additional emphasis on tourism are not likely to fill the gaping holes in the train’s finances. Luckily, the Rail Runner is by no means essential to our transportation network and it can be shut down. The sooner our leaders realize this, the better off New Mexico’s finances will be.

    • Solutions: New Mexico

      Resolving New Mexicos $450 million Deficit (without raising taxes or cutting K-12 education and Medicaid)

      The Rio Grande Foundation | by Paul J. Gessing and Kevin Rollins | October 31, 2011

      despite constraints that are both political and self-imposed, we believe that it is quite possible to reduce unnecessary and wasteful spending throughout the New Mexico budget. In order to provide a guide for policymakers, the Rio Grande Foundation has compiled a list of specific budget reduction ideas.

    • OPINION

      Taxpayers get crushed when pensions and bonds collide

      May 21, 2012

      This all boils down to who gets to pick taxpayers' pockets first, public pensioners or municipal bond investors? More people are waking up to the hard reality that when it comes to state and local government, somebody has to lose money over the next few decades. The National Association of Bond Lawyers is worried enough about it to issue "Considerations" for advising clients who think they're getting safe investments.

    • BLOG

      COMMENTARY: Municipal, state pension reform message gaining momentum

      by Frank Keegan | May 17, 2012

      Despite an organized campaign to stop public pension reform, reality is beginning to break through.  One recent report outlines a possible path to long-term solutions and another details the necessity of states and municipalities finding their own way because federal bailout is impossible.  And Chicago Mayor Rahm Emanuel released a plan that could have been based on both reports.

    • Census state pension survey 2007-1010

      by Frank Keegan, Andrew Guevara | May 15, 2012

      The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds.  See how your state is doing.

    • Latest studies show growing pension peril

      State Budget Solutions | May 14, 2012

      Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.

    • "GASB Won't Let Me" - A False Objection to Public Pension Reform

      The Laura and John Arnold Foundation | by Robert M. Costrell | May 9, 2012

      Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.

    • View All Pensions
    • OPINION: Pensions

      Taxpayers get crushed when pensions and bonds collide

      May 21, 2012

      This all boils down to who gets to pick taxpayers' pockets first, public pensioners or municipal bond investors? More people are waking up to the hard reality that when it comes to state and local government, somebody has to lose money over the next few decades. The National Association of Bond Lawyers is worried enough about it to issue "Considerations" for advising clients who think they're getting safe investments.

    • BLOG: Pensions

      COMMENTARY: Municipal, state pension reform message gaining momentum

      by Frank Keegan | May 17, 2012

      Despite an organized campaign to stop public pension reform, reality is beginning to break through.  One recent report outlines a possible path to long-term solutions and another details the necessity of states and municipalities finding their own way because federal bailout is impossible.  And Chicago Mayor Rahm Emanuel released a plan that could have been based on both reports.

    • OPINION: Pensions

      Public pension 'best practices' omit 1 thing: How do we pay benefits?

      by Frank Keegan | May 4, 2012

      Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.

    • OPINION: Pensions

      COMMENTARY Municipal, state workers should take their pension money and run, fast

      by Frank Keegan | May 2, 2012

      Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.

    • BLOG: Pensions

      COMMENTARY: This plan could save municipal, state workers' pension checks

      by Frank Keegan | April 26, 2012

      Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.

    • View All Blog & Opinions