About The Board
Board Membership
Board Members
The State Board of Finance has seven voting members: the Governor, Lieutenant Governor, State Treasurer, and four members appointed by the Governor with the advice and consent of the Senate. No more than two appointed members may be from the same political party. The DFA Secretary serves as the Executive Officer of the Board and is a non-voting Board member. The Board typically meets monthly.
Honorable Michelle Lujan Grisham
Governor of New Mexico
Honorable Howie Morales
Lieutenant Governor of New Mexico
417 State Capitol
Santa Fe, NM 87501
Board Member
Treasurer Laura M. Montoya
State Treasurer of New Mexico
2055 South Pacheco, Suite 100
Santa Fe, NM 87505
Board Member
Joseph Lujan
Board of Finance
Board Member
Wendy Trevisani
Board of Finance
Board Member
Paul Cassidy
Board of Finance
Board Member
Michael S. Sanchez
Board Secretary
Wayne Propst
Department of Finance and Administration
181 Bataan Memorial Building
Santa Fe, NM 87501
Executive Officer (Non-voting member)
About the Board
The State Board of Finance has broad overview responsibilities regarding the fiscal activities of the state, local governments, public bodies, public schools, and institutions of higher learning. The Board was created to help protect the public’s interest regarding the approval of many important financial matters.
Matters of the Board include:
Public Money: Designates a fiscal agent; designates a custody bank; approves investments; sets interest rate of deposits
Public Debt: Issues General Obligation and Severance Tax Bonds and Notes; approves issuances by others; approves Private Activity Bond allocations; approves interest rate exchange agreements
Public Property: Approves acquisitions of GSD, DGF & State Parks; approves sales, trades, and leases of state agencies, school districts, counties, community colleges, conservancy & flood control districts, and special hospital districts/county hospitals (leases only); approves acquisitions of higher education institutions; approves GSD construction contracts & expenditures of the Capital Buildings Repair Fund
Emergency Grants & Loans: Provides emergency grants and loans to public entities upon request, funded with an annual legislative appropriation (FY24 = $4,109,900)
Capital Expenditure Approvals: Approves capital expenditures of 4-year higher education institutions (construction and major remodeling)
Other: Approves SPD concession contracts; State GRT increment dedication for TIDDs and MRAs; reports on DFA approved JPAs
Annual Board Activity Report