Home New mexico tax New Mexico agencies seek more funds in 2023

New Mexico agencies seek more funds in 2023

0

SANTA FE, NM (KRQE) — With record revenues from oil and gas production in the state, many government agencies in New Mexico received a funding boost in 2022. Now it looks like most State agencies are asking for even more funding in the coming fiscal year.

A recent newsletter from the state’s Legislative Finance Committee (LFC) provides an update on these budget requests. In total, state agencies are requesting more than half a billion more dollars in the upcoming fiscal year, which begins in July 2023, than they received in fiscal year 2023. which began in July 2022.

The state Department of Human Services, which supports a range of programs from meals for the homeless to administering Medicaid, has received more than $9 billion in combined federal and state funding for the exercise in Classes. More than $1 billion came from the state general purpose fund. Now they’re asking for $252 million After of this fund.

About 80% of that increase would go to cover an expected decrease in federal Medicaid funding, according to the LFC. The federal pandemic-era matchmaking program will likely be scaled back next year.

Other departments are also asking for an increase. Department for Children, Youth and Families, which has come under fire amid reports of child abuse and lawsuits with former employees, is seeking a 14% increase in funding, according to LFC . That would be about an additional $34 million, the majority of which would go to child protective services.

The state’s Department of Higher Education is also looking for a boost. In order to keep the state’s Opportunity Scholarship Program running, while covering some other costs, they’re asking for a 220% increase, according to the LFC. This would mean an increase of $153 million.

Public safety and judicial agencies are also asking for more, according to the LFC. The same goes for departments such as the Department of Energy, Minerals and Natural Resources.

Although these requests have not yet been approved (this will be decided in the next legislature), the state should have the necessary funds. Lawmakers have already budgeted about $2.5 billion more in the coming year thanks to continued high expectations for oil and gas revenues as tax revenue.