Legislative analysts track New Mexico public projects, report $1B in unspent dollars

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ALBUQUERQUE, New Mexico — Legislative analysts say more than $1 billion in capital outlay funds remain unspent for projects that have been approved over the last several years, fueling concerns about the way New Mexico finances public works projects.

The analysts presented their report to the Legislative Finance Committee during a meeting Wednesday in Santa Fe.

The report shows almost half of the capital funds appropriated for projects in 2012 are outstanding as are more than three-quarters of funds earmarked in 2013.

In addition, the Legislature approved nearly $100 million for projects during a special session earlier this year following much political posturing.

The report spurred calls by lawmakers and government watchdogs for the state to reform the way it prioritizes and pays for water infrastructure improvements, roads and bridges and other public projects.

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