New Mexico

The governor of New Mexico submits a budget annually to the legislature for approval. The fiscal year runs 1 July–30 June.

For the fiscal year 1999, total recurring general fund revenue equaled approximately $3.1 billion, exhibiting a growth rate of 3.7% from the previous year. The form of revenue that experienced the most growth was the income from personal income taxes, at a rate of almost 9%, even though total employment growth decelerated during the same period. Total general fund revenue was recorded at approximately $3.2 billion. General fund revenue was expected to grow at a rate of 6.0% during the whole of 2000, and 5.4% for the whole of 2001; revenue was expected to come primarily from sales taxes and personal income taxes.

For 2003/04, general fund appropriations totaled $4.018 billion, distributed, in terms of government agencies, to public schools ($1.858 billion), higher education and other education agencies ($628 million), health and human services ($845 million), public safety ($276 million), executive ($134 million), judicial branch ($133 million), agriculture and natural resources ($59 million), commerce and industry ($45 million), the legislature ($14.5 million), and transportation (0: funds derived from the states transportation fund.).

The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.