Welcome to the Legislative Finance Committee

Program Evaluation Reports Agency Performance Report Cards Budget Documents

Investment Performance Quarterly Report, First Quarter, FY 2015
During the quarter ending September 30, 2014, returns on the educational retirement fund and the land grant and severance tax permanent funds outperformed their peers by ranking in the top quartile in the universe of public funds greater than $1 billion; however, the public employee fund performed below its peers. Although the one, three, and five-year returns exceed the state investment agencies’ respective annual targets, the 10-year returns reflect lesser investment performance because of less diverse asset allocations and investment losses during the great recession. Ending balances for the quarter are $14.3 billion for PERA, $11.2 billion for ERB, $14.2 billion for LGPF, and $4.7 billion for STPF.

Office of the State Engineer, NM Environment Department, Capital Outlay - Review of Select Water Projects
New Mexico communities face an estimated $1 billion to replace and upgrade aging water infrastructure over the next 20 years, in addition to $240 million estimated for dam rehabilitation. Water is critical to the economic strength and public welfare of New Mexico. While providing adequate and safe drinking water is primarily the responsibility of local governments, the state supports communities through the efforts of multiple state agencies. Previous Legislative Finance Committee (LFC) analysis and evaluations have found this state-local collaboration has yielded unique challenges, from a fragmented funding process to problematic project oversight and execution.

December 2014 Consensus Revenue Estimate
The December estimate of FY16 recurring revenue is down $144 million from August projections in the latest report by the consensus revenue estimating group. The group's projections for FY15 are also down from August, by $120 million. State revenues have been hit hard by a decline in oil prices.

Program Evaluation: A Case Study of Elementary Schools in New Mexico
New Mexico has higher-than-normal rates of students who live in poverty, are still learning English, move often and are chronically absent – all factors that can predict whether a child will fail. But schools that hire good teachers, target spending and adopt practices that have worked elsewhere can overcome those barriers.

Program Evaluation: Improving High School Graduation Rates
Lagging high school graduation rates in New Mexico produce a significant drain on the state’s economy. The rate of New Mexico high school students who graduate in four years is up but so is the rate of students who drop out without graduating at all. This evaluation assessed various efforts to increase the number of adults in New Mexico with a high school credential, including dropout prevention, recovery efforts and adult basic education programs.

LFC NewsLetter

December 2014

LFC Calendar

LFC Meeting Agenda

Agenda is not available.