Legislative Finance Committee

General fund recurring revenues for FY20 through October were $2.523 billion, up $80.7 million, or 3.2 percent, from the same period last year. Although fiscal-year-to-date revenues are currently 3.2 percent above last year, total revenues for the year are tracking on par with the December forecast, which projected a 2.9 percent decline in FY20 revenues from FY19.

New Mexico provides strong financial support to its colleges and universities and tuition and fees are low, but attending college remains a challenge for many New Mexicans.

General fund recurring revenues for FY20 through September were $1.86 billion, up $42 million, or 2.3 percent, from the same period last year. General fund recurring revenue collection for the month of September was $628.8 million, up $20 million, or 3.3 percent, from the same month a year ago.

The Legislative Finance Committee today released a budget recommendation for the 2020-2021 fiscal year that calls for spending $7.54 billion from the state’s general fund, a 6.5 percent increase from FY20 spending levels.

Volume 1: Policy and Performance Analysis
Volume 2: Appropriation Recommendations
Volume 3: Supplemental Charts and Graphs

The LFC report cards on state agency performance continue to show mixed results, with the Motor Vehicle Division falling short of its targets on call center and field office wait times but the Department of Public Safety showing a significant decline in alcohol-related traffic deaths.