STATE OF NEW MEXICO OFFICE OF THE ATTORNEY GENERAL HECTOR H. - - PDF document

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Dec 13, 2022 552 likes •651 views

STATE OF NEW MEXICO OFFICE OF THE ATTORNEY GENERAL HECTOR H. BALDERAS ATTORNEY GENERAL The Consumer Settlement Fund is nearly depleted. This graph illustrates the sever depletion of this fund in just the past four years. The consumer

SLIDE 1

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

The Consumer Settlement Fund is nearly depleted. This graph illustrates the sever depletion of this fund in just the past four years. The consumer settlement fund needs time to be able to replenish the balance and use of its funds.

SLIDE 2

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Historically, consumer settlement revenues were not a major source of funds for the Office of the Attorney General operating budget. It was in fiscal year 2011 that consumer settlement funds began to be used for the operating budget in a substantial way.

SLIDE 3

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Consumer fund revenues are based on lawsuits and are therefore inherently volatile. Some lawsuits do not even result in revenues to the consumer fund. Instead, they provide restitution to New Mexican families and consumers, or directly to the State.

SLIDE 4

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Consumer funds have been appropriated for a variety of purposes, including defraying General Fund support for the Office of the Attorney General, special session fund balance “sweep”, special appropriations for the office and other agencies, and capital outlay.

$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 2010 2011 2012 2013 2014 2015 2016 2017

Consumer Fund Appropriations

OAG Legal Services OAG Special Appropriations Other Agencies Capital Projects

SLIDE 5

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

SLIDE 6

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

SLIDE 7

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

SLIDE 8

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

The Consumer Settlement Fund is nearly depleted. This graph illustrates the sever depletion of this fund in just the past four years. The consumer settlement fund needs time to be able to replenish the balance and use of its funds.

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Historically, consumer settlement revenues were not a major source of funds for the Office of the Attorney General operating budget. It was in fiscal year 2011 that consumer settlement funds began to be used for the operating budget in a substantial way.

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Consumer fund revenues are based on lawsuits and are therefore inherently volatile. Some lawsuits do not even result in revenues to the consumer fund. Instead, they provide restitution to New Mexican families and consumers, or directly to the State.

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Consumer funds have been appropriated for a variety of purposes, including defraying General Fund support for the Office of the Attorney General, special session fund balance “sweep”, special appropriations for the office and other agencies, and capital outlay.

$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 $20,000,000 2010 2011 2012 2013 2014 2015 2016 2017

Consumer Fund Appropriations

OAG Legal Services OAG Special Appropriations Other Agencies Capital Projects

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

STATE OF NEW MEXICO

OFFICE OF THE ATTORNEY GENERAL

HECTOR H. BALDERAS ATTORNEY GENERAL

TELEPHONE: (505) 490-4060• FAX: (505) 490-4883• www.nmag.gov MAILING ADDRESS: P.O. BOX 1508•SANTA FE, NEW MEXICO 87504-1508 STREET ADDRESS: 408 GALISTEO STREET•SANTA FE, NEW MEXICO 87501

Overview of Annual Consumer Settlement Fund Revenues

Dollar Range Number FY08 to FY17 Typical Year Below $5 million 6 High Year $5 to $15 million 3 Very High Year Above $15 million 1

Consumer Settlement Fund Revenues in the Current Administration

FY16: $4.69 million FY 17: $3.96 million FY 18 estimate: $3.00 million