New Mexico

TIA Data

2017 Financial State of New Mexico (Updated 9/1/2018)

 
New Mexico owes more than it owns.
New Mexico has a -$14,800 Taxpayer Burden.™
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 $8.1 billion of assets available to pay bills totaling $16.8 billion.
Because New Mexico doesn't have enough money to pay its bills, it has a $8.6 billion financial hole. To fill it, each New Mexico taxpayer would have to send $14,800 to the state.
New Mexico's reported net position is inflated by $1.3 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
Despite a recently implemented accounting standard meant to increase transparency, New Mexico still excludes $467.3 million of pension debt from its balance sheet. In addition, the state is still hiding $2.8 billion of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
Because New Mexico's financial statements received a disclaimer of opinion, its true financial condition is unknown. The state’s
financial statements are also unreliable because they are consistently published late, taking an average of 350 days to issue since 2009.
 

Prior Years' TIA Data

2016 Financial State of New Mexico

2015 Financial State of New Mexico

2014 Financial State of New Mexico

2013 Financial State of New Mexico

2012 Financial State of New Mexico

2011 Financial State of New Mexico

2010 Financial State of New Mexico

2009 Financial State of New Mexico

City and Other Municipal Reports

Financial State of Albuquerque

Other Resources

New Mexico Comprehensive Annual Financial Reports

Publishing Entity: Department of Finance and Administration

IN THE NEWS
Governor creates task force to study pension issues

FEBRUARY 19, 2019 | ALBUQUERQUE JOURNAL (NEW MEXICO) | by Dan Boyd

“A legislative solvency fix for one of New Mexico’s large public retirement systems will probably have to wait until next year. Gov. Michelle Lujan Grisham on Monday ordered that a 19-member task force be created to study possible changes to the pension plans …”

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