Welcome to the Legislative Finance Committee

Accountability Report: Early Childhood
Early childhood initiatives have the potential for widespread economic and social benefits, however, children in New Mexico rank low in many basic well-being indicators.

IBAC – Public Employee Health Benefits
The four member agencies of the Interagency Benefits Advisory Committee (IBAC) spent $890 million to provide health care to 196 thousand public employees and their dependents in FY14. This makes the IBAC the 3rd largest state cost center (after Medicaid and K-12 public education). While public employee health care benefits are a support function of state government, the volume of expenditures require increased legislative oversight to ensure public monies are spent wisely while also complying with requirements under the Affordable Care Act.

August 2015 Consensus Revenue Estimate
Preliminary figures for the fiscal year that ended on June 30 indicate revenues have come in stronger than expected when the February consensus estimate was developed. Despite the revenue increase, there is a high risk that FY16 revenue may decrease by more than $100 million due to adverse oil prices.

Fourth Quarter FY15 Report Cards
Many agencies and programs struggled to meet performance targets for FY15, and rallying agencies to develop meaningful action plans to address measures with poor results continues to be a challenge. In an effort to make performance report cards more useful, LFC is increasing efforts to provide benchmark data comparing New Mexico results with those of neighboring states or national averages.

The Legislative Finance Committee (LFC) budget guidelines provide analysts with direction on performance-based budgeting, the preparation of the budget narrative, and the development of FY17 recommendations on recurring appropriations, priority capital spending, and other one-time investments. The guidelines also serve to inform state agencies and the general public about the LFC priorities and the committee's approach to budget recommendations for FY17.

Progress Report: College Readiness in New Mexico
Higher education institutions statewide have expanded the use of best practices to improve outcomes for remedial education, and the percent of all students taking remedial coursework has gone down significantly. However, New Mexico can still do more, including aligning high school graduation requirements with college expectations, encouraging cooperation between secondary and post-secondary institutions, continuing to improve college remediation outcomes, directly incentivizing high schools to improve the first year college performance of their graduates, and expanding programs designed to address the socioeconomic achievement gap.

LFC NewsLetter

September 2015

LFC Calendar