Legislative Finance Committee

Preliminary general fund appropriations for FY24 in House Bill 2 as substituted by the House and amended by the Senate (HB2) are $9.57 billion, up about 14 percent from FY23.

The House Appropriations and Finance Committee has adopted a $9.43 billion spending plan that would increase general fund appropriations for FY24 by 12 percent over the current year.

The number of homeless people in New Mexico has declined by one-third in the last decade and poverty has dropped by 3.1 percent, but housing supports are still needed for those at risk for homelessness and housing insecurity

Grants-Cibola and Central Consolidated school districts, both in western New Mexico, have seen lower student performance than the state average despite getting more money for fewer students.

The Legislative Finance Committee today released a budget recommendation for the 2023-2024 fiscal year that calls for spending $9.44 billion from the state’s general fund, a 12 percent, or $1.04 billion, increase over FY23 planned spending.

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

The Children, Youth and Families Department has taken early steps to improving their below-average performance on repeat child maltreatment, with the collection of better data in response to the federal Comprehensive Addition and Recovery Act and the submission of their early intervention and prevention plan to federal regulators.

The Office of State Auditor and the Legislative Finance Committee have issued a joint risk advisory concerning a “significant” lack of oversight and accountability failures in the relationships between charter schools and nonprofit charter school foundations.

Unprecedented levels of state and federal funding available to state agencies make internal controls more important than ever but issues LFC evaluators found in a review more than 15 years ago continue to challenge agency efforts