At the close of the legislative session, Gov. Martinez made statewide news announcing huge gaps in state revenue that required her to close state parks and museums and furlough state workers if the legislature did not pass her preferred version of the state budget. That threat appears to be based on a lie a new report from the state’a leading finance agency.
The state is on track to end the year at least $71 million ahead of projections, according to the report and other financial data. From the Santa Fe New Mexican:
A revenue forecast for the state of New Mexico released Friday indicates that Gov. Susana Martinez is wrong about the need for employee furloughs or a hiring freeze to balance spending for the remaining two months of the fiscal year, according to a top university economist. The budget tracking report from the Legislative Finance Committee indicates “revenues continue to appear on track or exceed expectations from the December forecast.” It projects that the state general fund will close out the 2017 fiscal year at $54 million, or 1 percent, above expectations… An economics professor, asked by The New Mexican to review the revenue tracking report, said Martinez’s talk of furloughs isn’t supported by the revenue forecast.