New Mexico

TIA Data

Preliminary 2016 Financial State of New Mexico (As of June 30, 2017, New Mexico had not released its 2016 Comprehensive Annual Financial Report. Our report has been updated with 2016 pension data.)

2015 Financial State of Albuquerque (Released 1/11/2017)

 
New Mexico owes more than it owns and ranks the 11th out of the 50 states.
New Mexico's Taxpayer Burden™ is -$400, and received a "C" from TIA.
New Mexico is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
New Mexico only has $16 billion of assets available to pay bills totaling $16.3 billion.
Because New Mexico doesn't have enough money to pay its bills, it has a $221.6 million financial hole. To fill it, each New Mexico taxpayer would have to send $400 to the state.
Because of an accounting rule implemented last year, New Mexico has to report its pension debt on its balance sheet. As a result, the state's reported pension debt grew from $0 in 2014 to $3.6 billion in 2015.
Most of New Mexico's retirement liabilities are excluded from their balance sheet. The state's total hidden debt amounts to $5.4 billion.
The state's 2015 financial report was released 377 days after its fiscal year end, which is considered untimely according to the 180 day standard. As of June 30, 2017, which is already 185 days late, it's 2016 financial report still had not been released.
 

Prior Years' TIA Data

2015 Financial State of New Mexico

2014 Financial State of New Mexico

2013 Financial State of New Mexico

Other Resources

New Mexico Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance and Administration

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