Lawmakers warn New Mexico schools might have to take bigger hit [View all]

The state senator who heads the Legislative Finance Committee had grim news Thursday for Public Education Secretary Hanna Skandera: New Mexico’s public schools are going to take a big hit in the upcoming fiscal year.

“We’re in dire need of ‘now’ money,” said Sen. John Arthur Smith, D-Deming, during a hearing at the Roundhouse. “Some of that hide is going to have to come out of education.”

A couple of months ago, lawmakers wrangled with a spending shortfall of more than $600 million, wiping out nearly all of the state’s cash reserves and approving cuts to most state agencies, including the public education and higher education departments. But the state still faces a financial crisis.

Earlier this week, economists and budget officials said further declines in projected state revenues mean New Mexico is down as much as $70 million for fiscal year 2017 — and the outlook for 2018 revenues is even more dismal.

Read more: http://www.santafenewmexican.com/news/education/lawmakers-warn-new-mexico-schools-might-have-to-take-bigger/article_c555857f-f719-5fed-b9b9-99ada2fbad46.html