SANTA FE, NM — The New Mexico Department of Finance and Administration (DFA) releases updated capital outlay appropriation balances for 2025 Legislative Session.

The state currently has a $2.24 billion balance in earmarked funding and a $3.26 billion balance in capital outlay, including statewide and legislative appropriations. The total capital funding balances are $5.5 billion. Capital Outlay projects move at a steady 25% of expenditures yearly. The state spends the oldest capital outlay funds first, then the new funds as they are appropriated and awarded. As the funding pool grows, so will the amount of unspent funds, but that doesn't mean projects are stalled.

DFA's new Infrastructure Planning & Development Division is working on increasing the expenditure rate by modernizing the digital capital outlay tracking and reporting platforms, streamlining funding navigation, and enhancing project transparency.

Capital Outlay Appropriation Balances:

Funding

Total Appropriated

Expended

Total Remaining

Percent Expended

Capital Outlay

$6,344,305,148

$3,088,691,553

$3,255,613,595

49%

Colonias

$228,687,824

$79,790,230

$148,897,594

35%

Water Trust

$444,605,568

$160,092,599

$284,512,969

36%

Tribal Infrastructure

$228,527,824

$57,439,329

$171,088,495

25%

AIPP

$8,634,107

$1,502,734

$7,131,373

17%

Housing

$72,150,000

$29,180,935

$42,969,065

40%

PSCOF

$2,332,982,962

$747,412,279

$1,585,570,683

32%

Grand Total

$9,659,893,433

$4,005,446,257

$5,495,783,774

43%

Capital Outlay appropriations refer to legislative funding for projects managed by public entities (state agencies, local entities) to construct or improve infrastructure such as roads, schools, parks, museums, and public buildings.

Earmark funding is designated for specific purposes and is administered by various committees or boards. These include funds like the Colonias and Water Trust (administered by the NM Finance Authority), Tribal Infrastructure Fund (Indian Affairs Department), Art in Public Places (Cultural Affairs), Housing (MFA), and the Public School Capital Outlay Fund (PSCOF). Some funds, such as PSCOF, do not revert, meaning there is no immediate need to spend the funds within a set timeframe.

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