Legislative Finance Committee


General Fund Revenue Tracking Report: Accruals through May 2020

General fund recurring revenues for FY20 through May were $6.9 billion, down $297 million, or 4.1 percent, from the same period a year ago. Gross receipts tax collections were down 5.2 percent from May of last year, and personal income tax collections were down 15.5 percent. However, excluding direct oil and gas revenues, general fund recurring revenue collections for FY20 through May were up 1 percent from the same period last year.


FY22 Appropriation Request Budget Guidelines

With general fund revenue hit hard by the pandemic shutdown and an oil price collapse, the committee's goal is to propose a balanced budget with an average general reduction of 5 percent.


LFC Investment Report for the Quarter Ending June 30, 2020

For fiscal year 2020, the value of New Mexico’s combined investment holdings for the pension and permanent funds declined by $1.1 billion, or 2.1 percent, to end the year at $51.73 billion. Over the last five years, the state’s combined investment holdings grew $6.4 billion, or 14.1 percent.


Hearing Presentation: Improving Educational Outcomes and New Mexico's Response to Yazzie and Martinez Decision

Although a lack of testing in 2020 means data is incomplete, New Mexico has seen a marginal improvement in student performance, but could do more with better targeting of effort and resources.


Quarterly Capital Outlay Report, June 2020

More than $1 billion for 2,069 capital outlay projects remained outstanding in mid-June, including almost $300 million appropriated between 2016 and 2018.


Hearing Brief: Results of Early Childhood Investments and Gaps in Services

The Early Childhood Education and Care Department tweaked its payments to childcare providers early in the pandemic to prevent the collapse of the childcare industry in New Mexico, leading to a significant increase in childcare assistance spending.


Hearing Brief: Improving Outcomes for Child Protective Services

With schools closed and children at home, a drop in calls to child abuse and neglect hotlines could mean more mistreatment is going unreported.


Hearing Presentation: Internet Access to Enable Distance Learning

Most school districts, although short on computers to send home with students when the pandemic closed school buildings in March, have since purchased and distributed enough devices for all students for the fall semester, but without the help of a centralized statewide process for either buying or distributing devices.