New Mexico vs Nevada Budget FY2024
Spending, revenue and category allocations compared side by side.
Key Budget Metrics โ New Mexico vs Nevada
New Mexico
$27.7 billion
Nevada
$19.8 billion
New Mexico
$10.0 billion
Nevada
$5.3 billion
New Mexico
โ
Nevada
โ
New Mexico
$13.2 billion
Nevada
$6.0 billion
New Mexico
$3.2 billion
Nevada
$1.2 billion
New Mexico
$152.8 billion
Nevada
$281.5 billion
Receipts & Expenditure Comparison
| Particulars | New Mexico | Nevada | Difference |
|---|---|---|---|
| Total Expenditure (all funds) | $27.7 billion | $19.8 billion | +39.6% |
| General Fund Expenditure | $10.0 billion | $5.3 billion | +89.2% |
| Total Revenue | โ | โ | โ |
| General Fund Revenue | $13.2 billion | $6.0 billion | +119.5% |
| Rainy Day Fund | $3.2 billion | $1.2 billion | +169.5% |
| State GDP | $152.8 billion | $281.5 billion | -45.7% |
New Mexico per resident
$13,031
Nevada per resident
$6,044
New Mexico โ Spending Composition
Nevada โ Spending Composition
Category-wise Allocation โ New Mexico vs Nevada
| Category | New Mexico | Nevada | Difference |
|---|---|---|---|
1. Medicaid | $9.0 billion | $5.7 billion | +58.5% |
2. K-12 Education | $4.9 billion | $6.8 billion | -27.5% |
3. All Other | $6.5 billion | $4.4 billion | +47.7% |
4. Higher Education | $4.4 billion | $1.2 billion | +267.1% |
5. Transportation | $2.5 billion | $1.4 billion | +75.0% |
6. Corrections | $419 million | $358 million | +17.0% |
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Understanding This Comparison
State budgets are compared on an all-funds basis โ the total across the general fund, federal grants, and dedicated state funds. This is the fairer measure, because states differ widely in how much they route outside the general fund. The general fund row shows the discretionary portion that state legislatures actually debate.
Fiscal years differ between states: most run July to June, Alabama and Michigan run October to September, and New York runs April to March. Figures labelled with the same fiscal year therefore cover slightly different periods.
Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.
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