SANTA FE, N.M. (AP) — The administration of New Mexico Gov. Michelle Lujan Grisham is directing executive agencies to reduce annual spending by 5% to help ease an anticipated budget deficit for the coming fiscal year.
Agency budget proposal are due Tuesday in an annual rite that provides time for legislators to craft a balanced budget before they reconvene in January.
A memo to state agencies obtained by The Associated Press calls for a 5% reduction in general fund levels for the fiscal year starting on July 1, 2021, compared with current-year spending.
That is in line with recommendation from the Legislature’s budget and accountability office.