New Mexico

Document Type

Article

Publication Date

Winter 2018

Abstract

New Mexico's per-pupil school expenditures have increased by 1.6% from $10,614 in 2016 to $10,785 in 2017 (NEA, 2017). Despite the increase, New Mexico spends approximately 89% of the projected 2017 national average of $11,984. This change corresponds to a reduction in New Mexico's school finance national rank to 32nd overall.1 The proposed FY 2017 budget allocated approximately 44% of all new projected revenue for public education ($101 million). This proposed budget allocated $2.84 billion total for public schools in the state. New Mexico's FY 2017 general fund budget increased by $228 million (3.7%) over the FY 2016 budget, to $6.5 billion.2 The FY 2018 budget proposes a decrease to the public education general fund of $170 million to $2.67 billion. This decrease includes reductions in funding of $37.8 million in equalization guarantee, $30 million in transportation and instructional materials, and $4.5 million in Governor allocated classroom reform funds.3 New Mexico continues to rely heavily on State sources of revenue to fund education. Federal sources equal $499 million4 while local sources make up $694 million5 of total revenue toward education. New Mexico also decreased combined higher education, funding from FY 2017 to FY 2018. The state FY 2018 proposal includes allocations of $779 million for higher education, down from $786 million in FY 2017. As of May 2017, it was unclear if this funding would actually funnel toward the various colleges and universities of the state as Governor Susanna Martinez has taken several legislative steps to strip this funding with the use of administrative veto. It may take some time until the fiscal challenges to higher education in New Mexico are clarified.

Publisher

University of Illinois Press

Publication Information

Journal of Education Finance

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