With less than a day left to act on bills, Gov. Susana Martinez signed the FY 16 state budget this afternoon. Even with partial vetoes, the $6.235 billion budget features an increase of 1.3 percent and $84.2 million in new spending.
UNM financial analysts will be carefully going over the Governor’s action to determine if any of the partial vetoes affect university funding. The budget had an increase of $2.1 million in operations funding for UNM when it landed on her desk. Good timing as UNM’s Budget Summit is scheduled for tomorrow.
In her executive message, the Governor did express disappointment with the lack of additional funding or reform for the lottery scholarship, noting that this “will unfortunately result in a sizeable reduction in the percentage of tuition that will be covered by the scholarship in the coming year.”
Any legislation the Governor fails to act on by tomorrow automatically faces a pocket veto.