Senate Memorial 8 requests the State Auditor to convene a work group to study financial oversight and the causes of deficiency appropriation requests in New Mexico. This initiative arises from concerns regarding the increasing frequency and magnitude of such requests, which have escalated by $137.5 million from 2014 to 2024. The memorial highlights issues such as inadequate justifications for these requests, noncompliance with existing laws, and the need for modernized fiscal practices. It emphasizes the importance of transparency and accountability in budget management, as well as the necessity for a comprehensive review of current statutes and regulations that govern budgetary controls.

The memorial encourages collaboration among various state entities, including the legislative finance committee and the department of finance and administration, to enhance the transparency of deficiency appropriation requests during budget hearings. It also calls for the development of legislation that incorporates the State Auditor's recommendations, focusing on improved compliance mechanisms and centralized oversight. The work group is tasked with drafting this legislation, which aims to address the root causes of deficiency requests and strengthen the state's budgeting process. Copies of the memorial will be sent to key state officials to ensure awareness and support for these initiatives.