The Department of Finance and Administration, State Budget Division, oversees and administers the New Mexico state budget. State Budget Division provides high quality, timely and easy to understand analysis and recommendations for agency budgets, legislation and performance issues. In addition, the division prepares and presents the Governor's annual budget recommendation to the New Mexico Legislature. The division also monitors and oversees expenditures by state agencies during the fiscal year, which runs from July 1 to June 30 each year. Chapter 6, Article 3, Section 1 through 25
of the New Mexico Statutes Annotated 1978 governs the division.
The State Budget Division also is charged with implementing the Accountability in Government Act, codified at Chapter 6, Article 3A, Sections 1 through 9
of the New Mexico Statutes Annotated 1978 which mandates and details the implementation of performance based program budgeting in New Mexico State Government.