LFC approves minutes, endorses staff legislative slate and reviews cash-balance report

The Legislative Finance Committee approved routine business and considered legislative coordination and cash-balance items during the meeting.

Minutes: The committee approved the November and December LFC meeting minutes on a motion by Senator Gonzales with a second from Representative Sanchez; the motion carried with no objections noted in the record.

Legislation endorsement: Staff summarized a set of proposed bills for committee endorsement, including procedural or fiscal measures (grow fund accountability, higher-education capital projects fund, SIC venture adjustments, Land of Enchantment Legacy Fund amendments, capital outlay changes, the 80/20 employer contribution bill for school employees, fiscal cleanup, disaster funding updates, data-sharing for tax analysis, and a health professional loan-repayment bill). Vice Chair Munoz moved to adopt the LFC-endorsed bills; the motion was seconded and adopted without recorded opposition.

Cash balances and funds: Staff highlighted a clean LFC audit and directed members to the cash-balance report. Several members pressed staff for a comprehensive inventory of statutory and agency-created funds (some members cited roughly 500 funds across state accounting) and asked for work to reconcile statutory fund names to system records and identify dormant or mismatched funds. Chair and members asked for staff follow-up and for the controller and DFA to coordinate to align statutory fund names with SHARE (state accounting system) records.

What happens next: Committee staff agreed to supply members with more detailed fund inventories and to follow up on the recommended reconciliations; minutes and endorsements were recorded as approved.