SANTA FE, N.M. (AP) — Officials say the University of New Mexico and New Mexico State University face the prospect of major budget challenges. State funding has been reduced in the fiscal fallout from the coronavirus pandemic and reduced energy prices. The Santa Fe New Mexican reports that UNM likely faces a $22 million cut in state funding while NMSU will have about $20 million less to spend in the current fiscal year due to reduced state funding, revenue losses from lower enrollment and other circumstances. Legislators and Gov. Michelle Lujan Grisham approved spending cuts to help close a budget gap caused by the pandemic and falling oil revenues.
New Mexico universities face prospect of budget challenges
