PUBLIC & CHARTER SCHOOL FINANCIAL MONITORING

SB 516 requires all New Mexico public school districts and charter schools to implement financial monitoring systems by collecting detailed data on daily spending, program costs, student demographics, and academic outcomes. Schools must publish annual financial reports online by June 30 and submit data to the Public Education Department. The department will then synthesize this data into an annual "Return on Investment" report by October 1, analyzing how school spending correlates with student achievement and offering spending optimization recommendations. The bill appropriates $10 million from the general fund for 2026 to cover compliance costs, with unused funds reverting to the state treasury. The bill was advanced by committees but was postponed indefinitely on June 3, 2025.