Annual Fiscal Summary Details

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Annual Fiscal Summary Introduction

The State of New Mexico Comprehensive Annual Financial Report (CAFR) is a publication of the Financial Control Division of the Department of Finance and Administration.  The Financial Control Division is responsible for the fair presentation of the financial statements of the State of New Mexico and for the preparation of the CAFR, as required by Chapter 6-5-4.1 of the New Mexico Statutes Annotated, 1978.  The Department of Finance and Administration is responsible for managing the finances and financial affairs of the State and is committed to sound financial management and governmental accountability.

CAFR is to report the financial position and results of operations, as well as certain demographic and statistical information of the State of New Mexico.  The CAFR is intended to help the reader understand the financial condition of the State.  Responsibility for the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the State’s management.  To the best of the State’s knowledge and belief, the enclosed data accurately presents the State’s financial position and results of operations in all material respects in accordance with generally accepted accounting principles (GAAP).  We believe that all disclosures necessary to enable the reader to gain an understanding of the State’s financial activities are included.

Except as noted below, the basic financial statements contained in the CAFR are prepared in conformity with GAAP applicable to government as prescribed by the Governmental Accounting Standards Board (GASB).

The departments and entities included in the CAFR are those for which the State is financially accountable based on criteria for defining the financial reporting entity as prescribed by GASB.  The primary government is the legal entity that comprises the funds of the State, its departments and state funded institutions of higher education.  It also includes certain university foundations that have been included with the higher educational institution that is financially accountable for the foundation.


Introductory Section – Contains a list of principal officials, transmittal letter from the Department of Finance and Administration, and the state organizational chart.

Independent Accountant’s Report – An independent review of the State’s basic financial statements.  A review consists principally of inquiries of government personnel and analytical procedures applied to the State’s financial data.  It is substantially less in scope than an audit in accordance with auditing standards generally accepted in the United States of America, the objective of which is the expression of an opinion regarding the financial statements taken as a whole.  Accordingly, the auditors of the CAFR have not and do not express such an opinion. 

Management’s Discussion and Analysis – Introduces the basic financial statements and provides an analytical overview of New Mexico’s financial activities. 

Basic Financial Statements for Government – wide, Governmental funds, Proprietary funds, and Fiduciary funds – Detailed information about individual major funds, not the State as a whole.  A fund is a group of related accounts that the State uses to keep track of specific resources that are segregated for a specific purpose.  Some funds are required by law to exist, while others are established internally to maintain control over a particular activity. 

Notes to the Financial Statements – Additional schedules and information that are essential to a complete understanding of the financial statements.  The notes apply to both the government-wide financial statements and the fund financial statements. 

Required Supplementary Information – Consists of Budgetary Comparisons, Notes on budgetary reporting, and Information about the State’s Postemployment and Other Postemployment Benefit Plans. 

Supplementary Information – Consists of combining statements of non-major Governmental funds, non-major Enterprise funds, Pension trust plans, External Investment trust plans, Private Purpose trust funds, and Agency funds.  In addition, this section includes schedules, which compare budgeted expenditures to actual results for funds with an approved operating budget.

Statistical Section – Provides a historical perspective of financial information that may assist in assessing the current financial status of the State. The areas of focus are the Financial Trends of the government’s financial position, Revenue Capacity for the state sources of revenues, Debt Capacity of the State’s debt burden, Demographic and Economic information about the State; Operating Information of state employees, capital assets, and operational statistics; and Graphs of the State’s expenditures in historical and constant dollars.


The Annual Fiscal Summary Details page displays data that is updated upon the completion of the CAFR, and represents the most-recent update.

By law, under the Inspection of Public Records Act, every person has the right to inspect public records of the State of New Mexico. The act also makes compliance with requests to inspect public records an integral part of the routine duties of the officers and employees of the State of New Mexico. This website does not contain information that is considered private or protected by state or federal law. While all of the information contained on this site is an open record, there may be additional public records available regarding this data. Additional records can be obtained by making a public records request to the appropriate records custodian(s) in the agency that possesses the documents in accordance with the law.

Contact Info
Media Inquiries
Department of Finance and Administration
General Services Department
Public Information Officer
180 Bataan Memorial Building
Santa Fe, NM 87501
Mobile: (505) 946-7489
Requests for Public Records

State Treasurer Functions
New Mexico State Treasurer
2019 Galisteo Street, Building K
Santa Fe, NM 87504
Phone: (505) 955-1120
Fax: (505) 955-1180

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Department of Finance and Administration
Financial Control Division
Bataan Memorial Building, Suite 166
407 Galisteo Street
Santa Fe, NM 87501
Phone: (505) 827-3682
Fax: (505) 827-3692

Department of Finance and Administration
State Budget Division
Bataan Memorial Building, Suite 190
407 Galisteo Street
Santa Fe, NM 87501
Phone: (505) 992-6189
Fax: (505) 992-6856