Welcome to the Legislative Finance Committee

Program Evaluation Reports Agency Performance Report Cards Budget Documents

Summary of LFC and executive general fund FY16 appropriation recommendations
In a comparison of FY16 Legislative Finance Committee (LFC) and executive general fund appropriation recommendations, they are similar in overall appropriation amounts; however, there are notable differences in detail (attached). The LFC recommended FY16 general fund appropriations of $6.292 billion, an increase of 2.3 percent over FY15 appropriations and was $2 million higher than the executive recommendation.

Report of the Legislative Finance Committee to the Legislature: Policy and Performance Analysis

Report of the Legislative Finance Committee to the Legislature: Appropriation Recommendations

Report of the Legislative Finance Committee to the Legislature: Supplemental Charts and Graphs

Volume I of the budget recommendation provides an overview of the budget recommendation and the policies that shape discussion of the issues.

Volume II of the budget recommendations provides the details of revenue and expenditure recommendations by agency and a discussion of how the budget recommendation was developed.

Volume III of the budget recommendation is a collection of charts and tables that help support budget discussions.

General Fund Revenue Tracking Report: Accruals through October, 2014
October was a strong month for revenue collections, with total revenue coming in $86 million (16.2 percent) higher than the same month a year ago. Federal Mineral Leasing royalties were $56.7 million above October 2013, and general sales tax revenue increased by $32.5 million between the two periods. Net personal income tax revenue came in at $122 million in October, $6.3 million above the same month in 2013.

LFC 2015-2016 Fiscal Year Budget Recommendation Packet
The Legislative Finance Committee today released a budget recommendation for the 2015-2016 fiscal year that calls for spending $6.29 billion from the state’s general fund, $140.4 million more than is expected to be spent in FY15.

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.

LFC NewsLetter

January 2015

LFC Calendar

LFC Meeting Agenda

Agenda is not available.