News

Today is UNM Day at the legislature, which features campus exhibits filling the halls of history, performances in the house and senate chambers, memorials, proclamations, speeches, tours, and meet & greets. The House and Senate are both scheduled to go...

With less than a day left to act on bills, Gov. Susana Martinez signed the FY 16 state budget this afternoon. Even with partial vetoes, the $6.235 billion budget features an increase of 1.3 percent and $84.2 million in new spending.  

The University of New Mexico Board of Regents conducts its annual budget summit Friday, April 10 at 9 a.m. in Student Union Building Ballroom B. The board will consider UNM's budget for Fiscal Year 2015-16.

Applause broke out on the house floor as members voted unanimously to concur with senate changes to the state budget bill. The $6.234 billion budget calls for a 1.3 percent increase in spending with reserves hovering at 8 percent.

On a 42–25 vote, the New Mexico House of Representatives approved the state budget bill that contains $6.2 billion to fund state government and public education for 2015-16. Higher education’s share of that budget pie is $846 million, with $810 million allocated to the institutions, including a $2.1 million increase in operating funds for UNM.

The main job of any legislature any year is to prepare and pass a state budget. The House Appropriations and Finance Committee accomplished its part of the process this morning passing their version of HB 2, the state general appropriations act.  

They keep calling it is a messy process that leaves no one totally happy. That is how the state budget is built.  This afternoon, House Appropriations approved what will go into the final crafting of the general appropriations act as will be found in HB2.

As expected, state financial analysts have downgraded revenue estimates for FY16 by $57.8 million because of falling oil and gas prices.

The 2015 session of the NM Legislature commences Tuesday Jan. 20, at noon with the opening session featuring Governor Susana Martinez delivering the State of the State. For the next 60 days, legislators and the executive branch will be wrangling with a great many varied issues, though none will be more important than crafting the FY 16 state budget.

The Legislative Finance Committee (LFC) revealed its budget recommendations for the 2015-16 fiscal year this morning. Usually these recommendations are the best indicator of how the budget built by legislators during the upcoming session will look.