GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015

Jan Goodwin Executive DirectorRick Scroggins Deputy Director

NM Educational Retirement BoardMary Lou Cameron ChairH Russell Goff Vice Chair

1

Whatrsquos the difference between GASB Statements 67 and 68

GASB 67Accounting disclosures for pension plansERB was one of the first pension plans in the US to adopt

GASB 68Accounting disclosures for employers participating in pension plans

Both GASB statements separate accounting disclosures and presentation and the funding considerations for pensions

2

Bottom Line How Will GASB 68 Affect Issuers

Probably not muchbull Balance sheet and income statement will look different

but cash flows (one of the most important considerations for credit rating agencies) will be unchanged

bull A negative balance in net position is not necessarily a sign of financial distress

bull According to Rating Agency Standard amp PoorsldquoWhile there will be a range of new information reported under the GASB 6768 and year-over-year comparisons may be challenging we donrsquot expect significant credit differentiation based solely on the new reportingrdquo March 24 2015

3

What Does GASB 68 Do

Separates accounting and funding for pensionsProvides new informationbull Comprehensive reporting of a governmentrsquos net pension

liabilities and expensesbull Each employer will include its share of the actuarial

present value of retirement benefits in its financialsbull Reflect pension liability where employment exchange

takes placebull Provide 10-year trend information- net pension liability and

hitting contribution targets

4

What Does GASB 68 Do Continued

New information to be reportedbull Description of the plan and benefits providedbull Significant assumptions used in the measurement of the

net pension liabilitybull Amounts of the net pension liability and deferred inflows

and outflows of resources related to pensionsbull Analysis of the net pension liabilityrsquos sensitivity to changes

in the discount ratebull Descriptions of changes in the assumptions used in

measuring the net pension liability

5

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Whatrsquos the difference between GASB Statements 67 and 68

GASB 67Accounting disclosures for pension plansERB was one of the first pension plans in the US to adopt

GASB 68Accounting disclosures for employers participating in pension plans

Both GASB statements separate accounting disclosures and presentation and the funding considerations for pensions

2

Bottom Line How Will GASB 68 Affect Issuers

Probably not muchbull Balance sheet and income statement will look different

but cash flows (one of the most important considerations for credit rating agencies) will be unchanged

bull A negative balance in net position is not necessarily a sign of financial distress

bull According to Rating Agency Standard amp PoorsldquoWhile there will be a range of new information reported under the GASB 6768 and year-over-year comparisons may be challenging we donrsquot expect significant credit differentiation based solely on the new reportingrdquo March 24 2015

3

What Does GASB 68 Do

Separates accounting and funding for pensionsProvides new informationbull Comprehensive reporting of a governmentrsquos net pension

liabilities and expensesbull Each employer will include its share of the actuarial

present value of retirement benefits in its financialsbull Reflect pension liability where employment exchange

takes placebull Provide 10-year trend information- net pension liability and

hitting contribution targets

4

What Does GASB 68 Do Continued

New information to be reportedbull Description of the plan and benefits providedbull Significant assumptions used in the measurement of the

net pension liabilitybull Amounts of the net pension liability and deferred inflows

and outflows of resources related to pensionsbull Analysis of the net pension liabilityrsquos sensitivity to changes

in the discount ratebull Descriptions of changes in the assumptions used in

measuring the net pension liability

5

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Bottom Line How Will GASB 68 Affect Issuers

Probably not muchbull Balance sheet and income statement will look different

but cash flows (one of the most important considerations for credit rating agencies) will be unchanged

bull A negative balance in net position is not necessarily a sign of financial distress

bull According to Rating Agency Standard amp PoorsldquoWhile there will be a range of new information reported under the GASB 6768 and year-over-year comparisons may be challenging we donrsquot expect significant credit differentiation based solely on the new reportingrdquo March 24 2015

3

What Does GASB 68 Do

Separates accounting and funding for pensionsProvides new informationbull Comprehensive reporting of a governmentrsquos net pension

liabilities and expensesbull Each employer will include its share of the actuarial

present value of retirement benefits in its financialsbull Reflect pension liability where employment exchange

takes placebull Provide 10-year trend information- net pension liability and

hitting contribution targets

4

What Does GASB 68 Do Continued

New information to be reportedbull Description of the plan and benefits providedbull Significant assumptions used in the measurement of the

net pension liabilitybull Amounts of the net pension liability and deferred inflows

and outflows of resources related to pensionsbull Analysis of the net pension liabilityrsquos sensitivity to changes

in the discount ratebull Descriptions of changes in the assumptions used in

measuring the net pension liability

5

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

What Does GASB 68 Do

Separates accounting and funding for pensionsProvides new informationbull Comprehensive reporting of a governmentrsquos net pension

liabilities and expensesbull Each employer will include its share of the actuarial

present value of retirement benefits in its financialsbull Reflect pension liability where employment exchange

takes placebull Provide 10-year trend information- net pension liability and

hitting contribution targets

4

What Does GASB 68 Do Continued

New information to be reportedbull Description of the plan and benefits providedbull Significant assumptions used in the measurement of the

net pension liabilitybull Amounts of the net pension liability and deferred inflows

and outflows of resources related to pensionsbull Analysis of the net pension liabilityrsquos sensitivity to changes

in the discount ratebull Descriptions of changes in the assumptions used in

measuring the net pension liability

5

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

What Does GASB 68 Do Continued

New information to be reportedbull Description of the plan and benefits providedbull Significant assumptions used in the measurement of the

net pension liabilitybull Amounts of the net pension liability and deferred inflows

and outflows of resources related to pensionsbull Analysis of the net pension liabilityrsquos sensitivity to changes

in the discount ratebull Descriptions of changes in the assumptions used in

measuring the net pension liability

5

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

What does GASB 68 not do

bull Create a new liabilityPrior to GASB 68 liability was only shown at the pension

fund level bull Change what employers have to contribute to the pension

planEmployers will continue to pay rates contributions set by

statute

6

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Why Does GASB Mandate this Change

GASBrsquos goals are to havebull Increased transparency however not all of the

information is helpfulbull Improve comparability among pension plan employers

7

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Glossary

Current GASB 6768 ResultActuarial Accrued Liability (AAL)Present value of earned retirement benefits

Total Pension Liability (TPL)

Present value of earned retirement benefits

No change for ERB

Actuarial Value of Assets (AVA)ldquoSmoothedrdquo value of pension plan assets

Fiduciary Net Position(FNP)Fair market value of pension plan assets minus liabilities

All amounts and ratios thatuse FMV of investments will be more volatile

Unfunded Actuarial Accrued Liability (UAAL)AAL minus AVA

Net Pension Liability (NPL)TPL minus FNP

For ERB NPLltUAAL as of June 30 2014

8

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Glossary continued

Current GASB 6768 Result

Funded Ratio AVAAAL Funded Ratio FNPTPLFor ERB results in a higher funded ratioWill be more volatile

Annual Required Contribution (ARC)Contribution necessary to amortize UAAL in 30 years

No longer applicableERB will track Funding Policy Contribution in actuarial valuation report

Discount Rate Use long-term earnings assumption to calculate AAL

Discount Rate Use long-term earnings assumption to calculate TPL if enough assets If not blended rate

No change for ERB

Contribution expense Total of employer contributions accrued in fiscal year

Pension expense Change in NPL from one year to the next

Will be more volatile

In summary these changes will result in a need for two different sets of books one for funding and budgeting and one for accounting

9

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

Current and GASB 68 Reporting

Current GASB 68ERB FS School FS ERB FS School FS

UAAL Footnote disclosure

NoneMentions participation in ERB

Footnote disclosure including sensitivity of discount rate

Proportionate share of NPL on Balance Sheet

Contribution Expense

Included in Statement of Changes in Plan Net Assets

Amount of employer contributions accrued

Included in Statement of Changes in Fiduciary Net Position

Difference between current and prior year NPL plus adjustments

10

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

11

GASB 68 Meanshellip New disclosures for employers

Now required to recognize and reporthellipbull proportionate share of the Planrsquos collective Net Pension Liabilitybull proportionate share of the Planrsquos pension expensebull Proportionate share of the Planrsquos deferred inflows and outflowsThese will be reported with a one-year lag

Now required to addhellipbull More disclosure notes discount rate measurement assumptions

deferred flowsbull Required Supplementary Information Schedules of net pension

liability over 10 years contributions and related ratios

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

12

What are ERBrsquos Options

Implementation Level Benefits Issues to Resolve1 Bargain Basement

Implement only GASB 67bull Low cost to ERB bull Employers uninformed

unstaffed for reportingbull Public image problems

2 Middle of the RoadProvide proportionate share schedules for Net Pension Liability pension expense amp deferred inflows outflows

bull NMERB meets employers halfway

bull NMERB minimizes audit responsibility

bull Member data is supplied by members

bull Who audits the allocation schedule

bull Employers still face new reporting challenges

3 Full Service PlanPrepare and disclose all calculations and disclosuresfor employers

bull Reduce employer work

bull Plan takes on more work

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

13

How to maximize ERBrsquos service today

bull Increase Communicationbull Leverage existing ERB website and employer portal

bull Website publishing (AICPA articles GASB links employer FAQs

bull Email blasts to Employer accounting personnel bull Fact Sheet Handouts sample reporting examples newslettersbull Compliance Auditor (desk amp field audits)bull Meet with Employers in regional meetings across New Mexicobull Meet with State Auditor Public Education Department Higher

Education Departmentbull Share Real Information

bull Provide audited GASB 68 report and Required Supplementary Information to all employersbull Employer contribution reconciliationsbull Allocation schedules (Net Pension Liability Contributions

deferred flows)bull Sample financial statement note disclosuresbull Sample journal entries

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

How Will Each Districtrsquos Allocation be Calculated

Your districtrsquos employer contributionTotal employer contributions

ExampleTotal FY14 employer contributions $362462537

Santa Fe FY14 employer contributions $9038466

Santa FeTotal= $9038466$362462537=24936275

14

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

How ERB Will Help Employers with GASB 68 Disclosures

In FY15 ERB will provide all employers this audited informationbull Each employerrsquos share of the Net Pension Liability and change from

prior period (Pension Expense)bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries prior period adjustment for

NPL and language for financial statement disclosures may require customization

In FY16 and future years ERB will provide all employers this audited information

bull Each employerrsquos share of the change in Net Pension Liability (Pension Expense)

bull Each employerrsquos share of Deferred InflowsOutflowsbull Each employerrsquos related journal entries and language for financial

statement disclosures may require customization

15

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

16

ERBrsquos Implementation Plan

bull Produce annual audited schedules engaging ERBrsquos actuary and auditor to provide an opinion onbull Employer Allocationsbull Collective Pension Amounts and Required Supplementary

Informationbull Schedules include detail information for employers financials

bull ERB will comply with AICPA best practices that will allow the employerrsquos auditor to rely on ERBrsquos auditorrsquos opinion on proportionate shares

bull Employers have responsibility to report accurate census data to ERBbull Employers assume responsibility for presentation of the information

used in their own financial statements

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

17

New Mexico Educational Retirement BoardSchedule of Collective Pension AmountsAs of and for the year ended June 30 2014

Net Pension Liability (775 Discount) 5705730813$ Net Pension Liability -- 100 Decrease (675 Discount) 7763304829$ Net Pension Liability -- 100 Increase (875 Discount) 3987098791$

Deferred Outflows of ResourcesDifferences Between Expected and Actual Experience 0$ Net Difference Between Projected and Actual Investment Earnings on Plan 0Changes in Assumptions 0Total Deferred Outflows of Resources Excluding Employer-Specific Amounts 0$

Deferred Inflows of ResourcesDifferences Between Expected and Actual Experience 84995487$ Net Difference Between Projected and Actual Investment Earnings on Plan Investments 518677364Changes inf Assumptions 0Total Deferred Inflows of Resources Excluding Employer-Specific Amounts 603672851$

Pension Plan Expense 395014052$

Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

ERBrsquos GASB 68 Collective Amounts

68_Collective Info

68_Shares

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

	New Mexico Educational Retirement Board								Deferred Outflows			Deferred Inflows
	Schedule of Employer-Specific Pension Amounts								of Resources			of Resources			Pension Expense			Subsequent Recognition of Deferred Amounts
	As of and for the year ended June 30 2014												Net Amortization
												of Deferred
												Amounts from
								Changes in			Changes in			Changes in
								Proportion			Proportion			Proportion
								and Differences			and Differences			and Differences
								Between			Between			Between
								Employer			Employer			Employer
								Contributions			Contributions			Contributions
								and Proportionate			and Proportionate			and Proportionate			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year			Fiscal Year
						Net Pension Liability			Share of			Share of			Share of			Ending			Ending			Ending			Ending			Ending
ER Code		Employer Name		Contribution			Employer Allocation Percentage			(775 Discount)			Contributions			Contributions			Contributions			2015			2016			2017			2018			2019			Thereafter
01001		POJOAQUE VALLEY SCHOOLS		130138115			03590388			20485787			- 0			- 0			- 0			(571524)			(571524)			(558809)			(465563)			- 0			- 0
01002		SANTA FE PUBLIC SCHOOLS		903846552			24936275			142279673			- 0			- 0			- 0			(3969398)			(3969398)			(3881086)			(3233470)			- 0			- 0
01003		SANTA FE COMMUNITY COLLEGE		285623563			07880085			44961644			- 0			- 0			- 0			(1254365)			(1254365)			(1226458)			(1021805)			- 0			- 0
01094		NEW MEXICO SCHOOL FOR THE DEAF		55303678			01525776			8705667			- 0			- 0			- 0			(242876)			(242876)			(237472)			(197846)			- 0			- 0
01301		THE ACADEMY FOR TECHNOLOGY amp THE CLASSICS		22265370			00614281			3504922			- 0			- 0			- 0			(97782)			(97782)			(95607)			(79653)			- 0			- 0
01306		MONTE DEL SOL CHARTER SCHOOL		27346513			00754465			4304774			- 0			- 0			- 0			(120097)			(120097)			(117425)			(97831)			- 0			- 0
01315		TURQUOISE TRAIL CHARTER SCHOOL		29690099			00819122			4673690			- 0			- 0			- 0			(130389)			(130389)			(127488)			(106215)			- 0			- 0
01341		STATE OF NEW MEXICO		121504115			03352184			19126660			- 0			- 0			- 0			(533606)			(533606)			(521735)			(434675)			- 0			- 0
01343		TIERRA ENCANTADA CHARTER SCHOOL		18916878			00521899			2977815			- 0			- 0			- 0			(83077)			(83077)			(81228)			(67674)			- 0			- 0
01398		THE MASTERS PROGRAM		11557405			00318858			1819318			- 0			- 0			- 0			(50756)			(50756)			(49627)			(41346)			- 0			- 0
01416		NEW MEXICO SCHOOL FOR THE ARTS		14899946			00411075			2345483			- 0			- 0			- 0			(65436)			(65436)			(63980)			(53304)			- 0			- 0
01418		New Mexico Connections Academy		10201256			00281443			1605838			- 0			- 0			- 0			(44801)			(44801)			(43804)			(36495)			- 0			- 0
02003		ALBUQUERQUE PUBLIC SCHOOLS		6164408173			170070218			970374883			- 0			- 0			- 0			(27072060)			(27072060)			(26469760)			(22052893)			- 0			- 0
02095		UNIVERSITY OF NEW MEXICO		5918270140			163279499			931628869			- 0			- 0			- 0			(25991102)			(25991102)			(25412851)			(21172345)			- 0			- 0
02123		CENTRAL NEW MEXICO COMMUNITY COLLEGE		965367901			26633591			151964101			- 0			- 0			- 0			(4239579)			(4239579)			(4145257)			(3453560)			- 0			- 0
02148		NEW MEXICO ACTIVITIES ASSOCIATION		13674332			00377262			2152555			- 0			- 0			- 0			(60053)			(60053)			(58717)			(48919)			- 0			- 0
02150		CENTRAL REGIONAL EDUCATION COOP		32918525			00908191			5181893			- 0			- 0			- 0			(144567)			(144567)			(141351)			(117765)			- 0			- 0
02295		UNIVERSITY HOSPITALS		38915116			01073631			6125849			- 0			- 0			- 0			(170902)			(170902)			(167100)			(139217)			- 0			- 0
02303		AMY BIEHL HIGH SCHOOL		24086383			00664521			3791578			- 0			- 0			- 0			(105780)			(105780)			(103426)			(86168)			- 0			- 0
02304		EAST MOUNTAIN HIGH SCHOOL		24508244			00676159			3857981			- 0			- 0			- 0			(107632)			(107632)			(105238)			(87677)			- 0			- 0
02308		TWENTY-FIRST CENTURY PUBLIC ACADEMY		10638203			00293498			1674621			- 0			- 0			- 0			(46720)			(46720)			(45680)			(38058)			- 0			- 0
02309		SOUTH VALLEY ACADEMY		27055891			00746447			4259026			- 0			- 0			- 0			(118821)			(118821)			(116177)			(96791)			- 0			- 0
02310		SOUTHWEST SECONDARY LEARNING CENTER		12754266			00351878			2007721			- 0			- 0			- 0			(56013)			(56013)			(54766)			(45628)			- 0			- 0
02311		NUESTROS VALORES CHARTER SCHOOL		8467810			00233619			1332967			- 0			- 0			- 0			(37188)			(37188)			(36361)			(30293)			- 0			- 0
02313		ROOTS AND WINGS COMMUNITY SCHOOL		3195446			00088159			503012			- 0			- 0			- 0			(14033)			(14033)			(13721)			(11432)			- 0			- 0
02314		THE LEARNING COMMUNITY CHARTER		12127601			00334589			1909075			- 0			- 0			- 0			(53260)			(53260)			(52075)			(43386)			- 0			- 0
02318		ROBERT F KENNEDY CHARTER SCHOOL		19636783			00541760			3091137			- 0			- 0			- 0			(86238)			(86238)			(84320)			(70250)			- 0			- 0
02320		PUBLIC ACADEMY FOR PERFORMING ARTS		22952684			00633243			3613114			- 0			- 0			- 0			(100801)			(100801)			(98558)			(82112)			- 0			- 0
02322		LOS PUENTES CHARTER SCHOOL		15963339			00440413			2512878			- 0			- 0			- 0			(70106)			(70106)			(68546)			(57108)			- 0			- 0
02323		EL CAMINO REAL ACADEMY		25600416			00706291			4029906			- 0			- 0			- 0			(112429)			(112429)			(109927)			(91584)			- 0			- 0
02327		HORIZON ACADEMY WEST		22209646			00612743			3496147			- 0			- 0			- 0			(97537)			(97537)			(95367)			(79454)			- 0			- 0
02328		NORTH VALLEY ACADEMY		21177733			00584274			3333710			- 0			- 0			- 0			(93006)			(93006)			(90937)			(75762)			- 0			- 0
02329		LA ACADEMIA DE ESPERANZA		32216102			00888812			5071322			- 0			- 0			- 0			(141483)			(141483)			(138335)			(115252)			- 0			- 0
02331		LA ACADEMIA DE LENGUA Y CULTURA		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02334		MONTESSORI OF THE RIO GRANDE CHARTER SCHOOL		13170269			00363355			2073206			- 0			- 0			- 0			(57839)			(57839)			(56553)			(47116)			- 0			- 0
02336		CESAR CHAVEZ COMMUNITY SCHOOL		13344118			00368152			2100576			- 0			- 0			- 0			(58603)			(58603)			(57299)			(47738)			- 0			- 0
02338		CREATIVE EDUCATION PREPARATORY INSTITUTE 1		13923018			00384123			2191702			- 0			- 0			- 0			(61145)			(61145)			(59785)			(49809)			- 0			- 0
02339		GILBERT L SENA CHARTER HIGH SCHOOL		13971841			00385470			2199388			- 0			- 0			- 0			(61360)			(61360)			(59995)			(49984)			- 0			- 0
02340		SCHOOL FOR INTEGRATED ACADEMICS amp TECHNOLOGIES		17385947			00479662			2736822			- 0			- 0			- 0			(76353)			(76353)			(74655)			(62197)			- 0			- 0
02341		ALB INSTITUTE FOR MATH AND SCIENCE UNM		17455816			00481590			2747823			- 0			- 0			- 0			(76660)			(76660)			(74955)			(62447)			- 0			- 0
02342		MOUNTAIN MAHOGONY COMMUNITY		11336352			00312759			1784519			- 0			- 0			- 0			(49785)			(49785)			(48678)			(40555)			- 0			- 0
02343		LA PROMESA EARLY LEARNING		22284215			00614801			3507889			- 0			- 0			- 0			(97865)			(97865)			(95688)			(79721)			- 0			- 0
02344		ACADEMY OF TRADES AND TECHNOLOGY (YOUTH BUILD CO)		9306534			00256759			1464998			- 0			- 0			- 0			(40871)			(40871)			(39962)			(33294)			- 0			- 0
02345		SOUTHWEST INTERMEDIATE LEARNING CTR (LA LUZ DEL M)		6003345			00165627			945023			- 0			- 0			- 0			(26365)			(26365)			(25778)			(21477)			- 0			- 0
02346		SOUTHWEST PRIMARY LEARNING CENTER		6508031			00179550			1024464			- 0			- 0			- 0			(28581)			(28581)			(27945)			(23282)			- 0			- 0
02350		DIGITAL ARTS AND TECHNOLOGY ACADEMY		18276643			00504235			2877029			- 0			- 0			- 0			(80265)			(80265)			(78479)			(65384)			- 0			- 0
02351		THE MONTESSORI ELEMENTARY SCHOOL		15956095			00440214			2511743			- 0			- 0			- 0			(70074)			(70074)			(68515)			(57082)			- 0			- 0
02353		CHRISTINE DUNCANS HERITAGE ACADEMY		11567894			00319147			1820967			- 0			- 0			- 0			(50802)			(50802)			(49672)			(41384)			- 0			- 0
02354		NATIVE AMERICAN COMMUNITY ACADEMY		24618203			00679193			3875292			- 0			- 0			- 0			(108115)			(108115)			(105710)			(88071)			- 0			- 0
02355		RALPH J BUNCHE ACADEMY		5170362			00142645			813894			- 0			- 0			- 0			(22706)			(22706)			(22201)			(18497)			- 0			- 0
02356		ALICE KING COMMUNITY SCHOOL(N ALB COOP C C)		15945481			00439921			2510071			- 0			- 0			- 0			(70027)			(70027)			(68469)			(57044)			- 0			- 0
02357		LA RESOLANA LEADERSHIP ACADEMY		5266902			00145309			829094			- 0			- 0			- 0			(23131)			(23131)			(22616)			(18842)			- 0			- 0
02358		VILLAGE ACADEMY CHARTER SCHOOL		000			00000000			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0			- 0
02360		BATAAN MILITARY ACADEMY		9938807			00274202			1564523			- 0			- 0			- 0			(43648)			(43648)			(42677)			(35556)			- 0			- 0
02361		ALBUQUERQUE TALENT DEVELOPMENT SECONDARY CHARTER		11434102			00315456			1799907			- 0			- 0			- 0			(50215)			(50215)			(49098)			(40905)			- 0			- 0
02362		GORDON BERNELL CHARTER SCHOOL		32236740			00889381			5074569			- 0			- 0			- 0			(141573)			(141573)			(138423)			(115325)			- 0			- 0
02363		CORRALES INTERNATIONAL SCHOOL		17491523			00482575			2753443			- 0			- 0			- 0			(76817)			(76817)			(75108)			(62575)			- 0			- 0
02364		COTTONWOOD CLASSICAL PREP SCHOOL		27174715			00749725			4277729			- 0			- 0			- 0			(119342)			(119342)			(116687)			(97216)			- 0			- 0
02365		MEDIA ARTS COLLABORATIVE CHARTER SCHOOL		12988950			00358353			2044666			- 0			- 0			- 0			(57043)			(57043)			(55774)			(46467)			- 0			- 0
02366		THE NEW AMERICA SCHOOL		15162026			00418306			2386741			- 0			- 0			- 0			(66587)			(66587)			(65105)			(54241)			- 0			- 0
02367		CIEN AGUAS INTERNATIONAL SCHOOL		16645455			00459232			2620254			- 0			- 0			- 0			(73101)			(73101)			(71475)			(59548)			- 0			- 0
02368		THE INTERNATIONAL SCH AT MESA DEL SOL		15953529			00440143			2511337			- 0			- 0			- 0			(70063)			(70063)			(68504)			(57073)			- 0			- 0
02370		TIERRA ADENTRO OF NEW MEXICO		14574532			00402098			2294263			- 0			- 0			- 0			(64007)			(64007)			(62583)			(52140)			- 0			- 0
02390		ACE LEADERSHIP HIGH SCHOOL		21477933			00592556			3380965			- 0			- 0			- 0			(94324)			(94324)			(92226)			(76836)			- 0			- 0
02396		SOUTH VALLEY PREPARATORY SCHOOL		9352262			00258020			1472193			- 0			- 0			- 0			(41072)			(41072)			(40158)			(33457)			- 0			- 0
02402		ALBUQUERQUE SIGN LANGUAGE ACADEMY		12136863			00334845			1910535			- 0			- 0			- 0			(53301)			(53301)			(52115)			(43419)			- 0			- 0
02412		ALBUQUERQUE SCHOOL OF EXCELLENCE		12941978			00357057			2037271			- 0			- 0			- 0			(56837)			(56837)			(55572)			(46299)			- 0			- 0
02413		THE GREAT ACADEMY		9104631			00251188			1433211			- 0			- 0			- 0			(39985)			(39985)			(39095)			(32571)			- 0			- 0
02414		THE NEW MEXICO INTERNATIONAL SCHOOL		9093315			00250876			1431431			- 0			- 0			- 0			(39935)			(39935)			(39046)			(32531)			- 0			- 0
02417		WILLIAM W amp JOSEPHINE DORN CHARTER COMMUNITY SCHOO		2499702			00068964			393490			- 0			- 0			- 0			(10978)			(10978)			(10734)			(8943)			- 0			- 0
02418		SAGE MONTESSORI CHARTER SCHOOL		7486288			00206540			1178462			- 0			- 0			- 0			(32877)			(32877)			(32146)			(26782)			- 0			- 0
02420		SOUTHWEST AERONAUTICS MATH amp SCIENCE ACADEMY		9312685			00256928			1465962			- 0			- 0			- 0			(40898)			(40898)			(39988)			(33316)			- 0			- 0
02421		CORAL COMMUNITY CHARTER SCHOOL		5518744			00152257			868737			- 0			- 0			- 0			(24237)			(24237)			(23697)			(19743)			- 0			- 0
02425		MISSION ACHIEVEMENT AND SUCCESS CHARTER SCHOOL		15952839			00440124			2511229			- 0			- 0			- 0			(70060)			(70060)			(68501)			(57071)			- 0			- 0
02430		Health Leadership Community School		9697716			00267551			1526574			- 0			- 0			- 0			(42589)			(42589)			(41642)			(34693)			- 0			- 0
03004		ARTESIA PUBLIC SCHOOLS		249203786			06875298			39228600			- 0			- 0			- 0			(1094421)			(1094421)			(1070073)			(891515)			- 0			- 0
03005		CARLSBAD MUNICIPAL SCHOOLS		457710863			12627812			72050896			- 0			- 0			- 0			(2010116)			(2010116)			(1965395)			(1637440)			- 0			- 0
03006		LOVING MUNICIPAL SCHOOLS		45366532			01251620			7141407			- 0			- 0			- 0			(199235)			(199235)			(194802)			(162297)			- 0			- 0
03321		JEFFERSON MONTESSORI ACADEMY		14230129			00392596			2240047			- 0			- 0			- 0			(62494)			(62494)			(61104)			(50908)			- 0			- 0
04008		DEXTER CONSOLIDATED SCHOOLS		74126962			02045093			11668750			- 0			- 0			- 0			(325541)			(325541)			(318299)			(265186)			- 0			- 0
04009		HAGERMAN MUNICIPAL SCHOOLS		35432505			00977549			5577631			- 0			- 0			- 0			(155608)			(155608)			(152146)			(126758)			- 0			- 0
04010		LAKE ARTHUR MUNICIPAL SCHOOLS		13637822			00376255			2146810			- 0			- 0			- 0			(59893)			(59893)			(58560)			(48789)			- 0			- 0
04011		ROSWELL INDEPENDENT SCHOOLS		615946152			16993374			96959618			- 0			- 0			- 0			(2705034)			(2705034)			(2644852)			(2203520)			- 0			- 0
04097		NEW MEXICO MILITARY INSTITUTE		168542271			04649923			26531209			- 0			- 0			- 0			(740182)			(740182)			(723715)			(602952)			- 0			- 0
04317		SIDNEY GUTIERREZ MIDDLE SCHOOL		4080477			00112577			642334			- 0			- 0			- 0			(17920)			(17920)			(17522)			(14598)			- 0			- 0
05011		CLOVIS COMMUNITY COLLEGE		91114505			02513763			14342855			- 0			- 0			- 0			(400145)			(400145)			(391243)			(325958)			- 0			- 0
05012		CLOVIS MUNICIPAL SCHOOLS		529906737			14619628			83415662			- 0			- 0			- 0			(2327177)			(2327177)			(2275402)			(1895717)			- 0			- 0
05013		GRADY MUNICIPAL SCHOOLS		13422095			00370303			2112849			- 0			- 0			- 0			(58945)			(58945)			(57634)			(48017)			- 0			- 0
05014		MELROSE SCHOOLS		20092869			00554343			3162932			- 0			- 0			- 0			(88241)			(88241)			(86278)			(71881)			- 0			- 0
05015		TEXICO MUNICIPAL SCHOOLS		46844881			01292406			7374121			- 0			- 0			- 0			(205727)			(205727)			(201150)			(167585)			- 0			- 0
05016		REGIONAL EDUCATIONAL CENTER 6		8833229			00243700			1390487			- 0			- 0			- 0			(38793)			(38793)			(37930)			(31600)			- 0			- 0
06016		EUNICE PUBLIC SCHOOLS		47356967			01306534			7454731			- 0			- 0			- 0			(207976)			(207976)			(203349)			(169417)			- 0			- 0
06017		HOBBS MUNICIPAL SCHOOLS		528484026			14580377			83191706			- 0			- 0			- 0			(2320929)			(2320929)			(2269293)			(1890628)			- 0			- 0
06018		JAL PUBLIC SCHOOLS		34332805			00947210			5404525			- 0			- 0			- 0			(150778)			(150778)			(147424)			(122824)			- 0			- 0
06019		LOVINGTON MUNICIPAL SCHOOLS		228661774			06308563			35994962			- 0			- 0			- 0			(1004208)			(1004208)			(981866)			(818027)			- 0			- 0
06020		TATUM MUNICIPAL SCHOOLS		32371140			00893089			5095725			- 0			- 0			- 0			(142163)			(142163)			(139001)			(115806)			- 0			- 0
06124		NEW MEXICO JUNIOR COLLEGE		143512547			03959376			22591134			- 0			- 0			- 0			(630260)			(630260)			(616238)			(513410)			- 0			- 0
06150		REGIONAL EDUCATIONAL COOP 7		2672852			00073741			420746			- 0			- 0			- 0			(11738)			(11738)			(11477)			(9562)			- 0			- 0
07021		GADSDEN INDEPENDENT SCHOOLS		954445594			26332255			150244759			- 0			- 0			- 0			(4191612)			(4191612)			(4098357)			(3414486)			- 0			- 0
07022		HATCH VALLEY PUBLIC SCHOOLS		101411144			02797838			15963710			- 0			- 0			- 0			(445365)			(445365)			(435456)			(362794)			- 0			- 0
07023		LAS CRUCES PUBLIC SCHOOLS		1700239556			46908008			267644467			- 0			- 0			- 0			(7466895)			(7466895)			(7300771)			(6082530)			- 0			- 0
07098		NEW MEXICO STATE UNIVERSITY		2740590573			75610313			431412093			- 0			- 0			- 0			(12035775)			(12035775)			(11768003)			(9804339)			- 0			- 0
07335		ALMA DARTE CHARTER HIGH SCHOOL		14804322			00408437			2330432			- 0			- 0			- 0			(65016)			(65016)			(63569)			(52962)			- 0			- 0
07337		LA ACADEMIA DOLORES HUERTA		9581137			00264335			1508224			- 0			- 0			- 0			(42077)			(42077)			(41141)			(34276)			- 0			- 0
07338		LAS MONTANAS CHARTER HIGH SCHOOL		14737236			00406586			2319870			- 0			- 0			- 0			(64721)			(64721)			(63281)			(52722)			- 0			- 0
07339		ANTHONY CHARTER SCHOOL		5217470			00143945			821311			- 0			- 0			- 0			(22913)			(22913)			(22404)			(18665)			- 0			- 0
07420		J PAUL TAYLOR ACADEMY		10921121			00301303			1719154			- 0			- 0			- 0			(47962)			(47962)			(46895)			(39070)			- 0			- 0
07421		NEW AMERICA SCHOOL-LAS CRUCES		12850101			00354522			2022807			- 0			- 0			- 0			(56433)			(56433)			(55178)			(45971)			- 0			- 0
08024		COBRE CONSOLIDATED SCHOOLS		107900060			02976861			16985168			- 0			- 0			- 0			(473862)			(473862)			(463319)			(386008)			- 0			- 0
08026		SILVER CONSOLIDATED SCHOOLS		223923812			06177847			35249132			- 0			- 0			- 0			(983400)			(983400)			(961521)			(801077)			- 0			- 0
08099		WESTERN NEW MEXICO UNIVERSITY		228493287			06303915			35968442			- 0			- 0			- 0			(1003468)			(1003468)			(981142)			(817424)			- 0			- 0
08347		ALDO LEOPOLD HIGH SCHOOL		11975600			00330396			1885151			- 0			- 0			- 0			(52593)			(52593)			(51423)			(42842)			- 0			- 0
09027		CIMARRON MUNICIPAL SCHOOLS		33888261			00934945			5334544			- 0			- 0			- 0			(148826)			(148826)			(145515)			(121234)			- 0			- 0
09028		MAXWELL MUNICIPAL SCHOOLS		15196104			00419246			2392105			- 0			- 0			- 0			(66736)			(66736)			(65252)			(54363)			- 0			- 0
09029		RATON PUBLIC SCHOOLS		80720720			02227009			12706714			- 0			- 0			- 0			(354499)			(354499)			(346612)			(288775)			- 0			- 0
09030		SPRINGER MUNICIPAL SCHOOLS		19298679			00532432			3037914			- 0			- 0			- 0			(84753)			(84753)			(82868)			(69040)			- 0			- 0
09150		HIGH PLAINS REGIONAL EDUCATIONAL COOP 3		12699970			00350380			1999174			- 0			- 0			- 0			(55774)			(55774)			(54533)			(45434)			- 0			- 0
09324		MORENO VALLEY HIGH SCHOOL		7446232			00205435			1172157			- 0			- 0			- 0			(32701)			(32701)			(31974)			(26639)			- 0			- 0
10032		SAN JON SCHOOLS		14631539			00403670			2303232			- 0			- 0			- 0			(64257)			(64257)			(62827)			(52344)			- 0			- 0
10033		TUCUMCARI PUBLIC SCHOOLS		74492978			02055191			11726367			- 0			- 0			- 0			(327149)			(327149)			(319870)			(266495)			- 0			- 0
10119		HOUSE MUNICIPAL SCHOOLS		14003541			00386345			2204381			- 0			- 0			- 0			(61499)			(61499)			(60131)			(50097)			- 0			- 0
10120		LOGAN MUNICIPAL SCHOOLS		25199979			00695244			3966875			- 0			- 0			- 0			(110670)			(110670)			(108208)			(90152)			- 0			- 0
10141		MESALANDS COMMUNITY COLLEGE		35425739			00977363			5576570			- 0			- 0			- 0			(155578)			(155578)			(152117)			(126734)			- 0			- 0
11034		ELIDA MUNICIPAL SCHOOLS		14152846			00390464			2227882			- 0			- 0			- 0			(62155)			(62155)			(60772)			(50631)			- 0			- 0
11035		PORTALES MUNICIPAL SCHOOLS		202486725			05586418			31874597			- 0			- 0			- 0			(889255)			(889255)			(869471)			(724387)			- 0			- 0
11101		EASTERN NEW MEXICO UNIVERSITY - PORTALES		321726936			08876143			50644883			- 0			- 0			- 0			(1412919)			(1412919)			(1381485)			(1150964)			- 0			- 0
11102		EASTERN NM UNIVERSITY - ROSWELL		132681232			03660550			20886113			- 0			- 0			- 0			(582692)			(582692)			(569729)			(474661)			- 0			- 0
11117		DORA CONSOLIDATED SCHOOLS		23215804			00640502			3654532			- 0			- 0			- 0			(101956)			(101956)			(99688)			(83053)			- 0			- 0
11118		FLOYD MUNICIPAL SCHOOLS		22040516			00608077			3469524			- 0			- 0			- 0			(96795)			(96795)			(94641)			(78849)			- 0			- 0
12037		LAS VEGAS CITY SCHOOLS		125424467			03460343			19743786			- 0			- 0			- 0			(550823)			(550823)			(538568)			(448700)			- 0			- 0
12038		WEST LAS VEGAS SCHOOLS		135571770			03740297			21341128			- 0			- 0			- 0			(595387)			(595387)			(582141)			(485002)			- 0			- 0
12039		PECOS INDEPENDENT SCHOOLS		57989889			01599886			9128519			- 0			- 0			- 0			(254673)			(254673)			(249007)			(207456)			- 0			- 0
12102		NEW MEXICO HIGHLANDS UNIVERSITY		293679047			08102328			46229703			- 0			- 0			- 0			(1289742)			(1289742)			(1261048)			(1050624)			- 0			- 0
12128		LUNA COMMUNITY COLLEGE		77802974			02146511			12247414			- 0			- 0			- 0			(341685)			(341685)			(334083)			(278337)			- 0			- 0
12150		PECOS VALLEY REC 8		6405772			00176729			1008368			- 0			- 0			- 0			(28132)			(28132)			(27506)			(22916)			- 0			- 0
12151		NORTHEAST REGIONAL EDUCATION COOP		7566786			00208760			1191128			- 0			- 0			- 0			(33231)			(33231)			(32491)			(27070)			- 0			- 0
13041		GALLUP MCKINLEY COUNTY SCHOOLS		874308315			24121343			137629890			- 0			- 0			- 0			(3839676)			(3839676)			(3754250)			(3127799)			- 0			- 0
13142		ZUNI PUBLIC SCHOOLS		130100988			03589364			20479945			- 0			- 0			- 0			(571361)			(571361)			(558649)			(465430)			- 0			- 0
13369		MIDDLE COLLEGE HIGH SCHOOL		5022305			00138561			790592			- 0			- 0			- 0			(22056)			(22056)			(21566)			(17967)			- 0			- 0
13430		UPLIFT COMMUNITY SCHOOL		8929543			00246358			1405652			- 0			- 0			- 0			(39216)			(39216)			(38343)			(31945)			- 0			- 0
14043		BELEN CONSOLIDATED SCHOOLS		282020844			07780689			44394517			- 0			- 0			- 0			(1238543)			(1238543)			(1210988)			(1008917)			- 0			- 0
14044		GRANTS-CIBOLA COUNTY SCHOOLS		270364497			07459102			42559628			- 0			- 0			- 0			(1187352)			(1187352)			(1160936)			(967217)			- 0			- 0
14045		LOS LUNAS SCHOOLS		516619864			14253055			81324095			- 0			- 0			- 0			(2268825)			(2268825)			(2218348)			(1848184)			- 0			- 0
14366		SCHOOL OF DREAMS ACADEMY		16804216			00463612			2645245			- 0			- 0			- 0			(73799)			(73799)			(72157)			(60116)			- 0			- 0
15046		ALAMOGORDO PUBLIC SCHOOLS		369877443			10204570			58224529			- 0			- 0			- 0			(1624380)			(1624380)			(1588241)			(1323220)			- 0			- 0
15047		CLOUDCROFT MUNICIPAL SCHOOLS		30771554			00848958			4843926			- 0			- 0			- 0			(135139)			(135139)			(132132)			(110084)			- 0			- 0
15049		TULAROSA MUNICIPAL SCHOOLS		68396924			01887007			10766754			- 0			- 0			- 0			(300377)			(300377)			(293694)			(244687)			- 0			- 0
15104		NEW MEXICO SCHOOL FT BLIND amp VISUALLY IMPAIRED		79976142			02206466			12589501			- 0			- 0			- 0			(351229)			(351229)			(343415)			(286111)			- 0			- 0
16050		AZTEC MUNICIPAL SCHOOLS		187894163			05183823			29577499			- 0			- 0			- 0			(825170)			(825170)			(806811)			(672183)			- 0			- 0
16051		BLOOMFIELD SCHOOLS		209183372			05771172			32928754			- 0			- 0			- 0			(918665)			(918665)			(898226)			(748344)			- 0			- 0
16052		FARMINGTON MUNICIPAL SCHOOLS		709808631			19582952			111735053			- 0			- 0			- 0			(3117247)			(3117247)			(3047894)			(2539308)			- 0			- 0
16053		CENTRAL CONSOLIDATED SCHOOLS		497242938			13718464			78273863			- 0			- 0			- 0			(2183728)			(2183728)			(2135144)			(1778864)			- 0			- 0
16155		SAN JUAN COLLEGE		372723272			10283084			58672509			- 0			- 0			- 0			(1636878)			(1636878)			(1600461)			(1333401)			- 0			- 0
16356		MOSAIC ACADEMY CHARTER		10488019			00289355			1650982			- 0			- 0			- 0			(46060)			(46060)			(45035)			(37520)			- 0			- 0
16357		CARINOS CHARTER SCHOOL		17209176			00474785			2708995			- 0			- 0			- 0			(75577)			(75577)			(73896)			(61565)			- 0			- 0
16358		NEW MEXICO VIRTUAL ACADEMY		8945064			00246786			1408094			- 0			- 0			- 0			(39284)			(39284)			(38410)			(32001)			- 0			- 0
17054		ESPANOLA PUBLIC SCHOOLS		260245590			07179931			40966754			- 0			- 0			- 0			(1142913)			(1142913)			(1117486)			(931017)			- 0			- 0
17105		NORTHERN NEW MEXICO COLLEGE		128311258			03539987			20198213			- 0			- 0			- 0			(563501)			(563501)			(550964)			(459028)			- 0			- 0
17115		DULCE INDEPENDENT SCHOOLS		63542017			01753064			10002511			- 0			- 0			- 0			(279056)			(279056)			(272847)			(227319)			- 0			- 0
17126		CHAMA VALLEY SCHOOLS		41127543			01134670			6474122			- 0			- 0			- 0			(180619)			(180619)			(176600)			(147132)			- 0			- 0
17127		MESA VISTA CONSOLIDATED SCHOOLS		36319862			01002031			5717319			- 0			- 0			- 0			(159505)			(159505)			(155956)			(129933)			- 0			- 0
17334		LINDRITH AREA HERITAGE SCHOOL		1999722			00055170			314785			- 0			- 0			- 0			(8782)			(8782)			(8587)			(7154)			- 0			- 0
17424		MC CURDY CHARTER SCHOOL		26341385			00726734			4146549			- 0			- 0			- 0			(115683)			(115683)			(113109)			(94235)			- 0			- 0
17425		LA TIERRA MONTESSORI SCHOOL		3636882			00100338			572502			- 0			- 0			- 0			(15972)			(15972)			(15617)			(13011)			- 0			- 0
18056		CLAYTON MUNICIPAL SCHOOLS		41375879			01141522			6513217			- 0			- 0			- 0			(181709)			(181709)			(177667)			(148020)			- 0			- 0
18057		DES MOINES MUNICIPAL SCHOOLS		12824909			00353827			2018842			- 0			- 0			- 0			(56323)			(56323)			(55070)			(45881)			- 0			- 0
19059		DEMING PUBLIC SCHOOLS		358423873			09888577			56421558			- 0			- 0			- 0			(1574080)			(1574080)			(1539060)			(1282245)			- 0			- 0
19301		DEMING CESAR CHAVEZ CHARTER HIGH SCHOOL		10654211			00293940			1677143			- 0			- 0			- 0			(46790)			(46790)			(45749)			(38115)			- 0			- 0
20060		PENASCO INDEPENDENT SCHOOLS		43124424			01189762			6788462			- 0			- 0			- 0			(189388)			(189388)			(185175)			(154276)			- 0			- 0
20062		TAOS MUNICIPAL SCHOOLS		185250055			05110875			29161277			- 0			- 0			- 0			(813558)			(813558)			(795458)			(662724)			- 0			- 0
20125		QUESTA INDEPENDENT SCHOOLS		53837543			01485327			8474876			- 0			- 0			- 0			(236437)			(236437)			(231177)			(192601)			- 0			- 0
20265		TAOS ACADEMY CHARTER SCHOOL		11325900			00312471			1782875			- 0			- 0			- 0			(49740)			(49740)			(48633)			(40518)			- 0			- 0
20266		La Jicarita Community School		2194276			00060538			345414			- 0			- 0			- 0			(9637)			(9637)			(9422)			(7850)			- 0			- 0
20307		TAOS CHARTER SCHOOL		10997820			00303419			1731227			- 0			- 0			- 0			(48299)			(48299)			(47224)			(39344)			- 0			- 0
20312		RED RIVER VALLEY CHARTER SCHOOLS		4685520			00129269			737574			- 0			- 0			- 0			(20577)			(20577)			(20119)			(16762)			- 0			- 0
20316		ANANSI CHARTER SCHOOL		8137027			00224493			1280897			- 0			- 0			- 0			(35735)			(35735)			(34940)			(29110)			- 0			- 0
20317		VISTA GRANDE HIGH SCHOOL		6300504			00173825			991799			- 0			- 0			- 0			(27670)			(27670)			(27054)			(22540)			- 0			- 0
20415		TAOS INTEGRATED SCHOOL OF THE ARTS		6209169			00171305			977420			- 0			- 0			- 0			(27269)			(27269)			(26662)			(22213)			- 0			- 0
21063		TRUTH OR CONSEQUENCES MUNICIPAL SCHOOLS		108041191			02980755			17007386			- 0			- 0			- 0			(474482)			(474482)			(463925)			(386513)			- 0			- 0
21150		SOUTHWEST REGIONAL ED COOPERATIVE 10		13050923			00360063			2054423			- 0			- 0			- 0			(57315)			(57315)			(56040)			(46689)			- 0			- 0
22065		ESTANCIA MUNICPAL SCHOOLS		61525804			01697439			9685130			- 0			- 0			- 0			(270201)			(270201)			(264190)			(220106)			- 0			- 0
22066		MORIARTY-EDGEWOOD SCHOOL DISTRICT		195971575			05406671			30849009			- 0			- 0			- 0			(860643)			(860643)			(841495)			(701079)			- 0			- 0
22067		MOUNTAINAIR PUBLIC SCHOOLS		25324156			00698670			3986423			- 0			- 0			- 0			(111215)			(111215)			(108741)			(90596)			- 0			- 0
22201		ESTANCIA VALLEY CLASSICAL ACADEMY		17772159			00490317			2797617			- 0			- 0			- 0			(78049)			(78049)			(76313)			(63579)			- 0			- 0
23070		LORDSBURG MUNICIPAL SCHOOLS		51096743			01409711			8043431			- 0			- 0			- 0			(224400)			(224400)			(219408)			(182796)			- 0			- 0
23121		ANIMAS PUBLIC SCHOOLS		19292757			00532269			3036984			- 0			- 0			- 0			(84727)			(84727)			(82842)			(69019)			- 0			- 0
24072		SANTA ROSA CONSOLIDATED SCHOOLS		56809634			01567324			8942729			- 0			- 0			- 0			(249489)			(249489)			(243939)			(203234)			- 0			- 0
24073		VAUGHN MUNICIPAL SCHOOLS		12288412			00339026			1934391			- 0			- 0			- 0			(53967)			(53967)			(52766)			(43961)			- 0			- 0
25075		MAGDELENA MUNICIPAL SCHOOLS		39388022			01086678			6200292			- 0			- 0			- 0			(172979)			(172979)			(169131)			(140909)			- 0			- 0
25076		SOCORRO CONSOLIDATED SCHOOLS		119743612			03303613			18849526			- 0			- 0			- 0			(525875)			(525875)			(514175)			(428377)			- 0			- 0
25106		NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY		472350274			13031699			74355367			- 0			- 0			- 0			(2074408)			(2074408)			(2028256)			(1689812)			- 0			- 0
25319		COTTONWOOD VALLEY CHARTER SCHOOLS		11134970			00307203			1752818			- 0			- 0			- 0			(48901)			(48901)			(47813)			(39835)			- 0			- 0
26077		CAPITAN MUNICIPAL SCHOOLS		35934847			00991409			5656713			- 0			- 0			- 0			(157814)			(157814)			(154303)			(128555)			- 0			- 0
26078		CARRIZOZO MUNICIPAL SCHOOLS		15641987			00431548			2462297			- 0			- 0			- 0			(68695)			(68695)			(67166)			(55959)			- 0			- 0
26079		CORONA PUBLIC SCHOOLS		13583697			00374761			2138285			- 0			- 0			- 0			(59655)			(59655)			(58328)			(48595)			- 0			- 0
26080		HONDO VALLEY PUBLIC SCHOOLS		16942484			00467427			2667013			- 0			- 0			- 0			(74406)			(74406)			(72750)			(60611)			- 0			- 0
26081		RUIDOSO MUNICIPAL SCHOOL DISTRICT		125672227			03467178			19782784			- 0			- 0			- 0			(551911)			(551911)			(539632)			(449587)			- 0			- 0
26150		REGION IX EDUCATIONAL COOPERATIVE		31729042			00875374			4994648			- 0			- 0			- 0			(139343)			(139343)			(136243)			(113509)			- 0			- 0
27083		FORT SUMNER MUNICIPAL SCHOOLS		30489477			00841176			4799524			- 0			- 0			- 0			(133900)			(133900)			(130921)			(109075)			- 0			- 0
28084		QUEMADO INDEPENDENT SCHOOLS		17595257			00485437			2769773			- 0			- 0			- 0			(77273)			(77273)			(75554)			(62946)			- 0			- 0
28085		RESERVE INDEPENDENT SCHOOLS		18999938			00524190			2990887			- 0			- 0			- 0			(83441)			(83441)			(81585)			(67971)			- 0			- 0
29086		BERNALILLO PUBLIC SCHOOLS		256481726			07076089			40374259			- 0			- 0			- 0			(1126384)			(1126384)			(1101324)			(917552)			- 0			- 0
29087		CUBA INDEPENDENT SCHOOLS		56653909			01563028			8918217			- 0			- 0			- 0			(248805)			(248805)			(243270)			(202677)			- 0			- 0
29088		JEMEZ VALLEY PUBLIC SCHOOLS		30896483			00852405			4863593			- 0			- 0			- 0			(135687)			(135687)			(132668)			(110531)			- 0			- 0
29122		JEMEZ MOUNTAIN SCHOOL DISTRICT		31276427			00862887			4923401			- 0			- 0			- 0			(137356)			(137356)			(134300)			(111890)			- 0			- 0
29123		RIO RANCHO PUBLIC SCHOOLS		1067726236			29457561			168076913			- 0			- 0			- 0			(4689104)			(4689104)			(4584780)			(3819742)			- 0			- 0
29150		NORTHWEST REGIONAL EDUCATION 2		4890736			00134931			769880			- 0			- 0			- 0			(21479)			(21479)			(21001)			(17496)			- 0			- 0
29305		SAN DIEGO RIVERSIDE CHARTER SCHOOL		6815857			00188043			1072923			- 0			- 0			- 0			(29933)			(29933)			(29267)			(24383)			- 0			- 0
29330		WALATOWA CHARTER HIGH SCHOOL		6020020			00166087			947648			- 0			- 0			- 0			(26438)			(26438)			(25850)			(21536)			- 0			- 0
29408		THE ASK ACADEMY		13515142			00372870			2127496			- 0			- 0			- 0			(59354)			(59354)			(58034)			(48350)			- 0			- 0
30089		MORA INDEPENDENT SCHOOLS		46556291			01284444			7328692			- 0			- 0			- 0			(204460)			(204460)			(199911)			(166553)			- 0			- 0
30090		WAGON MOUND PUBLIC SCHOOLS		15846572			00437192			2494500			- 0			- 0			- 0			(69593)			(69593)			(68045)			(56690)			- 0			- 0
31091		MOSQUERO MUNICIPAL SCHOOLS		8360043			00230646			1316004			- 0			- 0			- 0			(36715)			(36715)			(35898)			(29908)			- 0			- 0
31092		ROY MUNICIPAL SCHOOLS		9840797			00271498			1549095			- 0			- 0			- 0			(43218)			(43218)			(42256)			(35205)			- 0			- 0
32093		LOS ALAMOS PUBLIC SCHOOLS		313613561			08652303			49367712			- 0			- 0			- 0			(1377288)			(1377288)			(1346646)			(1121938)			- 0			- 0
		36246253697			1000000000			5705730817			- 0			- 0			- 0			(159181664)			(159181664)			(155640186)			(129669335)			- 0			- 0

New Mexico Educational Retirement Board
Schedule of Collective Pension Amounts
As of and for the year ended June 30 2014
Net Pension Liability (775 Discount)		$ 5705730813
Net Pension Liability -- 100 Decrease (675 Discount)		$ 7763304829
Net Pension Liability -- 100 Increase (875 Discount)		$ 3987098791
Deferred Outflows of Resources
Differences Between Expected and Actual Experience		$ 0
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		0
Changes in Assumptions		0
Total Deferred Outflows of Resources Excluding Employer-Specific Amounts		$ 0
Deferred Inflows of Resources
Differences Between Expected and Actual Experience		$ 84995487
Net Difference Between Projected and Actual Investment Earnings on Plan Investments		518677364
Changes inf Assumptions		0
Total Deferred Inflows of Resources Excluding Employer-Specific Amounts		$ 603672851
Pension Plan Expense		$ 395014052
Employer specific amounts that are excluded from this schedule are the changes in proportion and differences between employer contributions and proportionate share of contributions as defined in paragraphs 54 and 55 of GASB Statement No 68 Accounting and Financial Reporting for Pensions

18

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

19

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

20

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Notes to Financial StatementsSummary of Significant Accounting Policies Basis of Accounting For purposes of

measuring the net pension liability deferred outflows of resources and deferred inflows of resources related to pensions and pension expense information about the fiduciary net position of the ERB and additions todeductions from ERBrsquos fiduciary net position have been determined on the same basis as they are reported by ERB Plan For this purpose benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms Investments are reported at fair value

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense At June 30 2015 the University of ABC (UABC) reported a liability of $14910 for its proportionate share of the net pension liability The net pension liability was measured as of June 30 2015 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as June 30 2014 UABCrsquos proportion of the net pension liability was based on UABCrsquos contributions to ERB for the year ending June 30 2015 relative to the total contribution for all employers participating in ERB a projection of the long-term share of contributions to the pension plan relative to projected contributions of all participating school districts actuarially determined At June 30 2015 UABCrsquos proportion was XX percent which was an increase of XX percent from its proportion measured as of June 30 2014

Sample Employer GASB 68 Disclosures

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

21

Sample Employer GASB 68 Disclosureshellipcont

Pension Liabilities Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions and Pension Expense (Cont)For the year ended June 30 2015 UABC recognized pension expense of $2394 At June 30 2015 reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources

Payable to the Pension Plan At June 30 2015 UABC reported a payable of $5432 for the outstanding contributions to the pension plan required for the year ended June 30 2015

Deferred Outflowsof Resources

Deferred Inflowsof Resources

Differences between expected and actual experience $ 2657 $ 142

Changes of assumptions 1714 130

Net difference between projected and actual earnings on pension plan investments

- 2194

Changes in proportion and differences between UABC contributions and proportionate share of contributions

753 156

UABC contributions subsequent to the measurement date 1065 -

Total $ 6189 $ 2622

These illustrations include only commonly required Employer disclosures Employers should consult with their Independent Public Accountants for specific financial statement presentations

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Questions

22

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix A page 1ERB Actuarials at a Glance

23

Fiscal Year 63012 63013 63014 63014GASB 67

UAAL $62B $65B $63B $57B

Funded Ratio 607 601 631 669

Funding Period Infinite 951 years 421 years Not applicable

Funding Policy

Contribution1759 1747 1632 Not applicable

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix A page 2Reasons for Growth in Unfunded Liability

bull Interest on the unfunded liability

bull Contributions less than the Annual Required Contributions

(ARC)

bull Earlier retirement higher than assumed

bull Longer life expectancy than assumed

bull Salary increases higher than assumed

bull Total payroll growth lower than assumed

bull Investment losses

24

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix A page 3ERBrsquos Actions to Reduce its UAAL

Multi-year multi-prong effort

Legislationbull 2005 SB181 increased memberemployer contributionsbull 2009 HB573 increased retirement eligibility requirementsbull 2013 SB115 increased member contribution reduced COLA until

100 fundedInvestmentsbull Continued diversification de-risking of portfoliobull Constantly seeking most cost efficient management structureGovernancebull Annual actuarial valuations and biennial experience studies

25

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix A page 4When Will the UAAL be Gone

26

05

06

07

08

09

1

11

12

FUN

DIN

G R

ATIO

FISCAL YEAR

ERB Actuarial Funding Projections

FY14 Actuarial Report FY14 Experience Study

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix B page 1ERB Highlights as of June 30 2014

Active ERB Members 61173Retirees and Beneficiaries 42246Retiree Payroll $868291384Member Contributions $271513574Employer Contributions $362462537Member Contribution Refunds $38923083Active Member Payroll $2538882656Participating Employers 230ERB Net Assets $113 billionAverage Benefit $23554Average Age at Retirement 6157

27

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix B page 2ERB Employment by County

28

21830

71

1825

490

296

126357

96321216

950

131

1787

397

546

743

2010

117

1014

305

969

1005

3665

12562739

211

1040

673

568

96

130

1547

32

As of 63014 Active membership was 61173

2573

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix B page 3Fiscal Year 2014 Retiree Benefits by County

29

$2659873

$11343

$227634

$62139

$50520

$164526

$8703

$929134$206549

$146886

$22589

$150138

$87214

$58435

$54852

$129995

$34008

$171777

$34079

$187008

$106433

$322071

$189541$359206$398394

$36963

$122423

$128544

$43951

$20341

$17352

$247238

$6675

FY14 Payroll $859575335 NM Total $739593276 (County benefits in Thousands $)

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County

Appendix B page 4ERB Retirees by County

30

11545

65

1112

331

247

75351

4046849

648

117

680

393

300

281

661

180

889

195

1000

498

1514

99216772040

196

555

657

247

104

92

1324

27

As of 63014 Retiree membership was 42246 of those 34266 members reside in New Mexico

• GASB 68 Accounting DisclosuresBriefing for the Investments and Pensions Oversight CommitteeSenator George Munoz ChairRepresentative Monica Youngblood Vice-ChairAugust 18 2015
• Whatrsquos the difference between GASB Statements 67 and 68
• Bottom Line How Will GASB 68 Affect Issuers
• What Does GASB 68 Do
• What Does GASB 68 Do Continued
• What does GASB 68 not do
• Why Does GASB Mandate this Change
• Glossary
• Glossary continued
• Current and GASB 68 Reporting
• Slide Number 11
• Slide Number 12
• Slide Number 13
• How Will Each Districtrsquos Allocation be Calculated
• How ERB Will Help Employers with GASB 68 Disclosures
• Slide Number 16
• Slide Number 17
• Slide Number 18
• Slide Number 19
• Slide Number 20
• Slide Number 21
• Questions
• Appendix A page 1ERB Actuarials at a Glance
• Appendix A page 2Reasons for Growth in Unfunded Liability
• Appendix A page 3ERBrsquos Actions to Reduce its UAAL
• Appendix A page 4When Will the UAAL be Gone
• Appendix B page 1ERB Highlights as of June 30 2014
• Appendix B page 2ERB Employment by County
• Appendix B page 3Fiscal Year 2014 Retiree Benefits by County
• Appendix B page 4ERB Retirees by County