(Santa Fe, NM)-The New Mexico State Department of Education (SDE) announced today that the 2002-2003 program unit value has been set at $2,889.89, a decrease of $6.12 over the initial unit value of $2,896.01 projected last spring. The unit value determines the amount of state funds provided to each New Mexico public school student for programs and services.

"In July, the director of School Budget and Finance Analysis, Steve Burrell, alerted superintendents that such a reduction in unit value was a real possibility and limited the Budget Adjustment Requests (BARS) to 60 percent of the total calculated increase in program cost," said State Superintendent of Public Instruction Michael J. Davis. "That precaution was sufficient notice for most districts," he added.

The appropriated program cost for 2001-2002 was $1,714,906,200. The SDE's announcement pertains to funds appropriated for public schools by last year's Legislature.

The New Mexico State Board of Education (SBE) in its 2003 legislative package has requested supplemental emergency funds that, if approved, will offset the need to reduce the unit value.