Legislative Finance Committee

Half of New Mexico teachers leave the profession within five years of graduating from college, adding to a teacher shortage and contributing to a drop in the average experience of returning teachers.

Slow progress on IT projects, overfunding of a virtual charter school, and a decline in inmate violence are among the findings in the latest agency performance report cards.

Although the Children Youth and Families Department (CYFD) has made progress on its management of juvenile justice facilities, per client costs have risen 32 percent since FY16 and exceed the national average.

Recurring revenues for the budget year that starts July 1 are estimated at $7.2 billion, a decline from the current fiscal year; however, "new money," projected revenue less current year appropriations and the amount potentially available for budget increases, is estimated at $1.1 billion. Revenues for this year are estimated at $7.6 billion, $773 million more than than in FY18.

The aggregate value of the state's investment holdings for pensions and permanent funds grew by $2.4 bill in FY18 to $50.8 billion, a 4.8 percent increase over the prior year.