KOB-TV reports that the Albuquerque Public Schools are facing budget cuts. Although APS Superintendent Winston Brooks says he “does not know how deep the district is in the hole,” cuts will save the district $4 to $7 million. That’s real money.
APS officials are also figuring out how federal stimulus funds might help.
State Land Office oil and gas revenue has dropped more than 50 percent in the third quarter. Translating this to dollars, royalty and interest earnings have dropped from $168M from the first quarter to $77M in the third quarter, so reports the New Mexico Business Weekly.
In political news, ABQ financial advisor Greg Zanetti has confirmed he will indeed run for the Republican nomination for governor next year. Recently completing his tour of duty at Guantanamo Bay as a deputy commander in the National Guard, Zanetti will focus on fixing the “oppressive growth of government.” He considers the members of TEA Party “the modern sons and daughters of liberty,” according to the story in the Las Cruces Sun-News.
Also, Los Alamos National Labs has an extra $212M in federal stimulus funds to create new contracts and new jobs. The Los Alamos Monitor breaks down the list of projects.
And lastly, research group has found that oil exploration in Otero Mesa would offer limited jobs and revenue, making the site not “worth the effort” of drilling. Despite this analysis, officials from both sides of the drilling debate speak up in this story in the Carlsbad Current-Argus.
NMI’s Danielle Bauer contributed to this post.