FY21 Appropriation Request Budget Guidelines
General fund revenue growth has strengthened significantly since the financial crisis of the Great Recession and oil price collapse. The committee’s goal is to propose a balanced budget with a single digit growth rate.
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Agency Report Cards, Fourth Quarter FY19
The Taxation and Revenue Department fell short on tax collections, Motor Vehicle Division office wait times, and resolution of tax protest cases, but the Early Childhood Program of the Children, Youth and Families Department hit all its marks in the latest performance reports from state agencies.
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Request for Proposals: Fiscal Analysis of the Health Security Act Plan
LFC is requesting proposals for the provision of extensive quantitative and comparative analysis of various scenarios for extending healthcare coverage in New Mexico pursuant to the Health Security Act as introduced during the 2019 legislative session as House Bill 295 and Senate Bill 279.
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Consensus Revenue Forecast
When the books close on FY19, which ended June 30, recurring revenues are expected to total $7.92 billion, an increase of $1.1 billion from FY18 and $333 million than expected during the legislative session. Total recurring revenues are forecast to drop in FY20 then recover in FY21, with FY20 recurring revenue estimated at $7.78 billion and FY21 recurring revenue estimated at $7.99 billion. “New money,” income in the coming fiscal year less spending from the current fiscal year, is projected at $907 million for FY21, or 12.8 percent growth from the FY20 recurring budget level.
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Program Evaluation: North Central School Districts
A look at five school districts in North Central New Mexico finds the districts budgeted most of their substantial new money to salaries and benefits and took only partial advance of funding for new programs.
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