About The Board

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Board Membership

The State Board of Finance is created in Section 6-1-1 NMSA 1978.  Members are 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 and each appointed member serves a two-year term.  The Governor is the president of the Board.

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

Honorable Michelle Lujan Grisham

Governor of New Mexico

400 State Capitol
Santa Fe, NM 87501
Board President
Honorable Howie Morales

Honorable Howie Morales

Lieutenant Governor of New Mexico

417 State Capitol
Santa Fe, NM 87501
Board Member

Treasurer Laura M. Montoya

Treasurer Laura M. Montoya

State Treasurer of New Mexico

2055 South Pacheco, Suite 100
Santa Fe, NM 87505
Board Member

Joseph Lujan

Joseph Lujan

Board of Finance

Board Member

Wendy Trevisani

Wendy Trevisani

Board of Finance

Board Member

Paul Cassidy

Paul Cassidy

Board of Finance

Board Member

Michael S. Sanchez

Michael S. Sanchez

Board Secretary

Wayne Propst

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

Meeting Information

Request Requirements