New Mexico Legislative Session Starts in the Red, $100 Million Worth of Red Ink and Falling Oil Revenue

0
369

Frank Haley of KDAZ AM730 news reports for FGGAM: New Mexico Gov. Susana Martinez is expected to outline her priorities as lawmakers gather in Santa Fe for the opening day of the 60-day legislative session today at the Merry Round House in Santa Fe.

Martinez already has unveiled parts of her agenda, including another pay raise for new teachers, budget increases to support education reforms and the state’s overwhelmed child welfare agency and incentives for some small businesses.

The governor’s efforts could end up sailing through at least one chamber since she’s starting her second term with the first Republican-controlled House in 60 years.

Last week Gov. Susana Martinez’s budget office announced its $6.3 billion budget recommendation for the fiscal year that begins July 1. It strays little from the Legislature’s budget proposal, except the governor aims to advance her education reform agenda with the spending package.

In size, Martinez’s plan is comparable to the budget the Legislative Finance Committee unveiled Friday. Both are based on $141 million in revenue growth, a figure that’s been steadily declining along with falling oil prices.

Also Last week we told you that New Mexico’s new state auditor Tim Keller, says New Mexico is NOT just 18 months behind on completing a federal audit, but New Mexico is $100 million in the RED. He says, “The short story is that the state is not balancing its checkbook.”

Reporter DAN MAYFIELD of Albuq. Business First broke the story and says the root cause of the problem is unclear:Martinez flag

Apparently “The Treasurer has one set of books, and the Department of Finance has another set of books and…… they don’t match.”

Another cause of the issue, he said, is accounting software the state bought 8 years ago.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.