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Program Evaluation Reports Agency Performance Report Cards Budget Documents

July 2014 Revenue Report
May was a moderate month for revenue collections, with total revenue coming in $25 million (5.4 percent) higher than the same month a year ago. Federal Mineral Leasing royalties were $14 million above May 2013, and total income taxes increased a further $9 million. Preliminary TRD Gentax data shows June personal income tax final settlements are $52 million, $15 million below June, 2103, and $12 million below the LFC staff projection for June 2014 collections. However, fiscal-yearto-date PIT collections continue to track above the December 2013 forecast.

Secretary of State - Status of Information Technology System Projects
The Secretary of State is in the process of overhauling mission-critical information technology systems used for administering and conducting elections and filing and maintaining records vital to New Mexico’s commerce and industry. These IT systems are critical to the day-to-day work of the office and are used daily by 33 county clerk offices, candidates, lobbyists, banking institutions, the media, taxpayers, foreign and domestic corporations, and other business. Since FY09, the office has received almost $15.4 million in appropriations for information technology. The objective of this evaluation was to assess the status of implementation, including planning, project management and oversight, budget allocation and expenditures.

Finance Facts - Oil and Natural Gas Production
New Mexico is a leading producer of crude oil and natural gas in the United States. Major oil and gas deposits are in the Permian Basin in the southeast and in the San Juan Basin in the northwest. Fossil fuel production is critical to the survival of many New Mexico communities and contributes substantially to the state economy but also raises environmental concerns.

Finance Facts - Oil and Natural Gas Revenue
The energy industry plays a critical role in the New Mexico economy and is an economic driver, both when prices are up and when prices are down. The state generates revenue from the extractive industries in a variety of ways, primarily through royalties and severance, gross receipts and personal income taxes.

Investment Performance Quarterly Report, Third Quarter, FY 2014
Although the one, three, and five-year returns exceed the investment agencies’ respective annual targets, the ten-year returns reflect lesser investment performance because of adverse economic conditions and investment losses during the recession. During the quarter, the return on the educational retirement fund compared well to its peers in the universe of public funds greater than $1 billion; however, the public employee fund and land grant and severance tax permanent funds underperformed their peers. This report explains how the returns generated by New Mexico’s investment agencies differed from that of the archetypical fund and how their management and consultants added or subtracted value.

LFC NewsLetter

July 2014

LFC Calendar