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NEW MEXICO STATE UNIVERSITY

NMSU likely to receive state funding increase

Posted

New Mexico State University will see a funding increase if Gov. Michelle Lujan Grisham signs appropriations bills passed during the 2021 session of the New Mexico Legislature.

“I am happy to report that it appears our university system will see an overall increase in funding from the state for our upcoming fiscal year,” NMSU Chancellor Dan Arvizu said in a March 19 legislative update.

The 60-day session ended March 20. The governor has until April 9 to sign bills passed by both houses.

Among the NMSU highlights of appropriations bills awaiting action by the governor are

  • A 2.7 percent increase (about $5.4 million) in recurring funding for the NMSU system for the coming fiscal year. In the General Appropriations Act and Senate Bill 377 (HB2 Junior), NMSU was appropriated a total of $18.8 million in new recurring and non-recurring operating and capital outlay funding.
  • A 1.5 percent average compensation increase for NMSU employees.
  • More than $33 million in new financial aid for students.
  • A restoration of federal funding that was swapped out during the previous session.
  • $100 million place holder for lottery scholarships from the Corona Virus State Fiscal Recovery Fund.
  • $5 million in Higher Education Endowment.

NMSU budget

  • Instruction and general (NMSU systemwide): FY 2021 (current): $150.9 million; FY 2022 (passed by the 2021 legislature): $156.1 million (3.5 percent increase); FY 2020: $158.8 million.
  • Grand total: FY21: $202.9 million; FY22: $208.4 (2.7 percent increase); FY2020: $209.9 million.

The figures do not include the proposed 1.5 percent compensation increase for NMSU employees.

Visit https://govrelations.nmsu.edu/.