Legislative Finance Committee

Although the coronavirus pandemic was in its early stages in the third quarter of the fiscal year, its impact on state agency performance can be seen in the latest agency report cards, with many agencies missing targets, reducing reporting, and delaying IT projects.

New Mexico's combined investment holdings in pension and permanent funds fell by $2.16 billion, or 4.2 percent, in the year that ended March 31; however, five-year returns were a strong 8.8 percent.

A preliminary draft report analyzing the fiscal impact of a New Mexico universal healthcare coverage plan has been released for public comment by the consultants preparing it for the Legislative Finance Committee. The draft report can be found HERE. A press release by KNG Health Consulting LLC can be found HERE. Those who would like to submit written comment on the contents of the preliminary report can email Nathan.Eckberg@nmlegis.gov through 5 p.m. on June 8, 2020.

General fund recurring revenues for FY20 through February were $5.098 billion, down $157 million, or 3 percent, from the same period a year ago due to a large, one-time federal payment received last year and lower net corporate income tax collections. Excluding direct oil and gas revenues from severance taxes or royalties and bonuses, general fund recurring revenue collections for FY20 through February were up $222.9 million, or 5.9 percent, from the same period a year ago.

New Mexico is among the biggest users of “short-term” placements in foster care, an approach that can be traumatic for children.
Press Release