Overview


Representative
Patricia A. Lundstrom
Chairwoman

Senator
George K. Muñoz
Vice Chairman

David Abbey
Director


Mission Statement

The mission of the Legislative Finance Committee is to provide the Legislature with objective fiscal and public policy analyses, recommendations, and oversight of state agencies to improve performance and ensure accountability through the effective allocation of resources for the benefit of all New Mexicans.

LFC Overview

The Legislative Finance Committee (LFC) was first established as a fiscal and management arm of the New Mexico Legislature in 1957. Since its inception, the committee's role in the state budget process has grown as the complexity and size of the budget has increased. In 1991, LFC assumed responsibility for the performance audit program, previously a part of the Office of the State Auditor.

The committee makes budgetary recommendations to the Legislature for funding state government, higher education, and public schools. The committee also prepares legislation addressing financial and management issues of state government. The Program Evaluation Unit, formerly the performance audit unit, reviews the costs, efficiency, and effectiveness of activities of state agencies and political subdivisions and recommends changes to the Legislature.

New Mexico is unusual in that both the governor and a legislative agency (LFC) propose comprehensive state budgets to the Legislature. The New Mexico budget currently consists of about $7.5 billion in general fund appropriations and additional amounts in federal funds and other state funds. Public education has typically received the largest share of state general fund appropriations (around 45 percent) and higher education has generally received 12 percent, making education the biggest recipient of state general funds. Health and human services have historically received about 27 percent of the general fund budget, leaving 16 percent for the rest of state government.

About the LFC