Latest Breaking News

Judi Lynn

(160,611 posts) Fri Feb 12, 2016, 03:25 PM Feb 2016

New Mexico auditor finds $4.4 billion in unused funds

Source: KOAT

New Mexico auditor finds $4.4 billion in unused funds

Published 11:09 AM MST Feb 12, 2016

SANTA FE, N.M. —New Mexico's state auditor has found $4.4 billion in unspent funds tucked away in hundreds of agency accounts.

State Auditor Tim Keller announced the findings Friday as the Legislature scours state accounts for unspent cash to make up for plunging state revenue forecasts linked to low crude oil prices and lower-than-expected sales tax receipts.

The Office of the State Auditor examined fund balances as of July 1, 2015, seeking to identify money that is sitting unnecessarily idle when it might otherwise be used to stimulate the economy and employment.

The idle 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.

Read more: http://www.koat.com/news/new-mexico-auditor-finds-44-billion-in-unused-funds/37964174

17 replies

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Highlight:

New Mexico auditor finds $4.4 billion in unused funds (Original Post) Judi Lynn Feb 2016 OP

Favorability sounds like an awesome condition, but it's actually a huge pain in the ass in any org. AtheistCrusader Feb 2016 #1

Give that guy/gal a raise. brush Feb 2016 #2

Nah... Martinez will speand it on another night of booze and pizza... Left Coast2020 Feb 2016 #3

I smell a taxcut for the rich to help the "job creators". /nt NCjack Feb 2016 #4

You're probably right. hifiguy Feb 2016 #15

I wonder where I lost my $4.4 billion. Botany Feb 2016 #5

Be thankful you didn't wake up in Utah dlwickham Feb 2016 #13

Good point however ..... Botany Feb 2016 #14

Own a bank. Get to loan on u used funds. AngryAmish Feb 2016 #16

Who was going to take that on their way out of office?! Dont call me Shirley Feb 2016 #6

This isn't really new. SheilaT Feb 2016 #7

Maybe this is an innocent error, or could it be laundered drug money dmr Feb 2016 #8

Invokes the pallet loads of dollars chapdrum Feb 2016 #12

New Mexico struggles to meet the needs of children, the elderly, and the poor. LuckyLib Feb 2016 #9

Can we dispatch Mr. Keller to the Pentagon ? eppur_se_muova Feb 2016 #10

He should ask for a bonus of 1% of the 4.4 billion and retire benld74 Feb 2016 #11

Meanwhile... LiberalLovinLug Feb 2016 #17

AtheistCrusader

(33,982 posts)

1. Favorability sounds like an awesome condition, but it's actually a huge pain in the ass in any org.

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:27 PM

Feb 2016

brush

(53,841 posts)

2. Give that guy/gal a raise.

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:29 PM

Feb 2016

Left Coast2020

(2,397 posts)

3. Nah... Martinez will speand it on another night of booze and pizza...

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:30 PM

Feb 2016

at some ritzy Santa Fe Hotel.

NCjack

(10,279 posts)

4. I smell a taxcut for the rich to help the "job creators". /nt

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:36 PM

Feb 2016

hifiguy

(33,688 posts)

15. You're probably right.

Reply to NCjack (Reply #4)

Fri Feb 12, 2016, 08:36 PM

Feb 2016

Botany

(70,578 posts)

5. I wonder where I lost my $4.4 billion.

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:37 PM

Feb 2016

Last thing I remembver I was eating Mexican food and drinking margarities in
some cantina up in the mountians close Taos, NM after skiing and then next thing
I remember was waking up in Colorado w/a real bad hang over.

dlwickham

(3,316 posts)

13. Be thankful you didn't wake up in Utah

Reply to Botany (Reply #5)

Fri Feb 12, 2016, 07:02 PM

Feb 2016

Be thankful you didn't wake up in Utah

Botany

(70,578 posts)

14. Good point however .....

Reply to dlwickham (Reply #13)

Fri Feb 12, 2016, 07:16 PM

Feb 2016

.... how the hell do you miss $4.4 billion? Somebody or somebodies had a nice
scam going on.

AngryAmish

(25,704 posts)

16. Own a bank. Get to loan on u used funds.

Reply to Botany (Reply #14)

Fri Feb 12, 2016, 08:39 PM

Feb 2016

White collar graft.

Dont call me Shirley

(10,998 posts)

6. Who was going to take that on their way out of office?!

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:41 PM

Feb 2016

SheilaT

(23,156 posts)

7. This isn't really new.

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:41 PM

Feb 2016

I read about that here several months ago.

But it is rather horrifying that the state money is so poorly managed.

dmr

(28,349 posts)

8. Maybe this is an innocent error, or could it be laundered drug money

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 03:58 PM

Feb 2016

hidden away is the state's various accounts?

I may be wrong, but finding lost 4.4 billion this year, and 4.2 billion last year, that's a hell of a lot of money! Billion, not million!

Sounds fishy to me. Hope I'm wrong.

chapdrum

(930 posts)

12. Invokes the pallet loads of dollars

Reply to dmr (Reply #8)

Fri Feb 12, 2016, 05:04 PM

Feb 2016

that were sent to Iraq - the packages were used by its guards as footballs.

A variation on the old Pepsodent toothpaste commercial: "You'll wonder where the money went when you "elect" a Bush as "president."

LuckyLib

(6,819 posts)

9. New Mexico struggles to meet the needs of children, the elderly, and the poor.

Reply to Judi Lynn (Original post)

Fri Feb 12, 2016, 04:09 PM

Feb 2016

Money squirreled away provides ammunition for Republicans who claim they are overtaxed. Then at the same time, they refuse to budge to pass laws that care for citizens.