ALBUQUERQUE, N.M. — New Mexico Gov. Susana Martinez is warning that before anything reaches her desk during the upcoming legislative session, she wants lawmakers to come up with a “serious solvency package.”
The Republican governor made the comment Thursday while addressing business leaders in Albuquerque. She’s referring to projections that the state is expected to outspend revenues by nearly $220 million this fiscal year.
Martinez and lawmakers rolled out dueling budget proposals earlier this week.
Despite opposition from Democrats, part of her plan calls for sweeping some money from school district reserves.
She argues that districts are sitting on more than $130 million in such funds and in some cases that’s far beyond the 5 percent recommended for hard times. She says the surpluses can be tapped to avoid classroom and program cuts.