Richardson threatens to veto more than $200 million in spending

By Barry Massey The Associated Press SANTA FE — Gov. Bill Richardson said Tuesday he’s likely to veto more than $200 million from spending bills to balance the main budget account this year and replenish the state’s financial reserves. Richardson delivered the veto warning in a speech in Albuquerque to a statewide business group, and […]

Budget shortfalls lead to staff cuts

By Mike Linn Portales schools will lose two administrative positions and five years worth of savings to balance their budget, officials said on Monday. The Portales Municipal School Board approved the tentative budget by a 3-1 vote, citing unfunded government mandates to raise teachers’ salaries as reason for the cuts and draining of cash reserves. […]