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Lea County staff propose permanent fund; commissioners review preliminary FY26 budget
Summary
County staff outlined a plan to establish a Lea County permanent fund under New Mexico statute '6 6 19' with illustrative maximum contributions (~$115 million) and presented the preliminary FY26 budget including 27 new positions, a $366.6 million capital program and proposed 4% COLA for employees.
County staff recommended the commission consider creating a local government permanent fund governed by New Mexico statute “6 6 19” and presented a preliminary FY26 budget at the May 8 meeting.
Staff explained that establishing a permanent fund requires two ordinances (one to create the permanent fund and one to create a government income fund to receive earnings). Using current estimates (a beginning cash balance example of ~$575 million and other assumptions), staff…
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