Martinez Releases Proposed FY 2012 Budget
New Mexico – New Mexico Governor Susana Martinez has released her proposed fiscal year 2012 budget.
Here are major provisions of the plan, as outlined in an executive summary:
The Martinez plan would extend the "temporary" 1.5% additional pension contribution and require another 2% contribution as well. The additional 2% contribution would NOT apply to K-12 teachers and instructional aides.
The $2.39 billion Martinez plan would replace $88.8 million in federal stimulus funding. However, school districts would receive an average of 1.5% less in fiscal year 2012. The plan states that this can be achieved with $30 million in administrative cuts.
The Martinez plan would cut $38.3 million, or 5.2%, to the state's network of institutions.
The Martinez plan would replace $300 million in lost federal funding and also add an additional $10 million in state funding.
The summary of the plan states:
"At an estimated $450 million, the Martinez Administration inherited the largest budget shortfall during a gubernatorial transition period. While the $450 million shortfall is for FY12, Governor Martinez was left with an additional shortfall of $37 million for FY11. Citizens must demand that their leaders take responsibility to balance the budget and the Martinez Administration has met this responsibility in just eight weeks."