Legislative Finance Committee

New Mexico spent $65 million in FY19 on the higher reimbursement rates awarded to childcare providers ranked as higher quality under the state licensing and rating system, but while all childcare providers generally help families become more financially stable and help children stay healthy, few providers, regardless of quality ranking, help children prepare for school.

Recurring revenues are expected to be down 3 percent this fiscal year -- although still $286.6 million over planned spending -- and then up again in the budget year that starts July 1, 2020, resulting in $797 million in "new money," FY21 projected recurring revenues less FY20 recurring appropriations, available for budget drafters when the Legislature meets in January. Recurring revenues for the fiscal year that ended June 30were up 17.5 percent over FY18.

General fund recurring revenues ended FY19 at $8 billion, up $1.2 billion from the prior fiscal year and $85.8 million from the August consensus forecast, while revenue for FY20 through August were up $20.9 million from the same period a year ago and are tracking $68.5 million ahead of the August forecast mostly due to strength in revenue from personal income taxes and gross receipts taxes.

A public meeting to gather information on the proposed state Health Security Act will be held on Wednesday, December 4, 2019, from 10 a.m. to noon at the University of New Mexico South Campus in the “Rotunda at Science and Technology Park” (map attached) in Building 339, 801 University Boulevard SE in Albuquerque. There is parking located at 801 Bradbury Drive SE.

About $1.8 billion in capital outlay for 3,135 projects remains outstanding, with about half of the unspent dollars authorized between 2009 and 2018.