New Mexico auditor finds $4.4 billion in unused funds

State Auditor Tim Keller
State Auditor Tim Keller

SANTA FE (AP) – New Mexico’s state auditor has found $4.4 billion in unspent funds tucked away in hundreds of agency accounts.

The report released Friday by State Auditor Tim Keller looked at fund balances as of July 1, 2015, and seeks to identify money that is sitting unnecessarily idle when it might otherwise be used to stimulate the economy and employment.

The funds cited in the report do not include employee salaries, operating costs or retirement and permanent trust funds. A report from the previous year found $4.2 billion in unspent funds.

Agencies with the largest accumulated balances are the New Mexico Finance Authority, Environment Department, Department of Transportation, Mortgage Finance Authority and Department of Workforce Solutions. Most of the unspent funds already had been designated for specific purposes. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s