Capital Outlay Bureau

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Capital Outlay Projects Bureau

The Capital Outlay Bureau (COB) is responsible for coordinating the funding and administration of capital projects under the statutory authority of the State Budget Division, Department of Finance and Administration.  The COB works closely with executive agencies and Governor to prepare the Executive Capital Budget.  COB is responsible for administering the capital budgeting process.  This includes the processing of the Capital Appropriation Bill; assuring appropriations are budgeted and available for Departments to administer.  COB also maintains the State Capital Project Monitoring System which tracks all capital appropriations and updates fiscal information bi-weekly.   COB monitors the expiration dates of all capital appropriations and ensures timely reversions of expired appropriation balances.  COB also provides training, assistance and oversight to agencies on the planning, project management and administration of capital project appropriations.  This includes the Infrastructure Capital Improvement Plan for State Agencies.

Analysis Unit

Staff Job Title Phone Number
Bureau Chief
Executive Capital Analyst
Ryan Serrano Executive Capital Analyst 505-819-1568
Melody Montoya
Admin Assistant
Address Mailing Address
Department of Finance and Administration       
State Budget Division
Capital Outlay Bureau
Bataan Memorial Building, Rm 190
407 Galisteo
Street Santa Fe, NM  87501
Department of Finance and Administration
State Budget Division
Capital Outlay Bureau
Bataan Memorial Building, Rm 190
407 Galisteo
Street Santa Fe, NM  87501

Apply for Capital Outlay through the Governor’s Office

The Property Control Act defines a “capital outlay project” as the acquisition, improvement, alteration or reconstruction of assets of a long-term character that are intended to continue to be held or used, including land, buildings, machinery, furniture and equipment. Capital outlay funding cannot be used for operating expenses; salaries; materials and supplies; events, brochures, pamphlets and publications; and retroactive reimbursements of previous purchases.

This 2022 Legislative Session, the information required to submit a capital outlay project request through the Governor’s Office will be collected online. The form requests project details, including contact information, project cost, description, location and ownership. This information is necessary to draft the legislation. The remaining information requested may be used by state agencies to administer a project, if an appropriation is made for that project.

Once the legislative session begins, the Department of Finance & Administration, Capital Outlay Bureau will be providing reports to the Governor’s office showing all of the capital outlay projects being requested. The report contains the project description, the entity that will receive funding, the project title and the total project cost.

If you are interested in submitting a request for capital outlay funding through the Governor’s Office, please click on the link below.

The Capital Outlay Request Form

Governor’s Office


Capital Project Appropriations Search


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Budget Formulation and Management

BFM Link


Title Open File
Capital Outlay Bureau BFM Introduction and Training 08/04/2023 VIDEO
Capital Outlay Bureau BFM Introduction and Training 08/18/2023 VIDEO

Training Material

Capital Outlay Forms

Junior Bill Appropriation Forms

Grant Agreement Forms

Capital Outlay Projects

Capital Budget Forms

Executive Order 2013-006

Infrastructure Capital Improvement Plan (ICIP)

Training Materials

HB505 Capital Outlay Discussion Meeting