ALBUQUERQUE, N.M. — A month after the University of New Mexico finalized plans meant to financially stabilize its athletics department, regents have begun asking when the state might end the extra scrutiny wrought by athletics’ budgetary problems.
But the New Mexico Higher Education Department says it is not ready to discuss removing UNM from its “enhanced fiscal oversight program,” noting that UNM still must implement the budget balancing and deficit repayment moves the regents approved in April.
“UNM has submitted a reduction plan to HED for the athletics deficit, which included a plan to realize savings through cutting of sports programs,” Higher Education Secretary Barbara Damron said in an emailed statement to the Journal.
UNM, however, has not determined which sports it plans to cut in 2020, though its leaders have set a goal of deciding by July 1.
“HED will continue to monitor the situation closely to ensure that the significant issues that have long been growing within the athletics budget are now being addressed,” Damron wrote.
The department’s longstanding budget problems prompted Damron to place UNM under the enhanced fiscal oversight program in October. The athletics department finished eight of the last 10 years in the red and had accrued a $4.7 million deficit to the university by the end of fiscal year 2017. Despite a regent-approved $1.3 million infusion to shore up the 2018 budget, forecasts indicate another shortfall in the current year.