The New Mexico State legislature requires the Department of Education to publish this report card concerning several educational indicators. The indicators included are: (1) enrollment statistics; (2) Advanced Placement Program enrollment statistics; (3) New Mexico Scholars Program statistics; (4) percentage of the graduating class applying to college; (5) percentage of students in federally-funded programs; and (6) percentage of school budget expended on federal programs. In addition, tabulated and graphed data are provided for the past 3 years for: (1) total expenditures per student; (2) total administrative expenditures per student; (3) average teacher salary; (4) state mandated and college entrance test scores; (5) dropout rate; and (6) percentage of 12th graders who graduate. The accountability report indicates that there have been gains in all areas of New Mexico public education, including increased enrollment, decreased dropout rate, and improved performance on state-mandated examinations (the Comprehensive Test of Basic Skills in grades 3, 5, and 8; and the New Mexico High School Competency Examination). Twenty tables and 12 figures illustrate trends in enrollment, finances, and achievement. A 26-item list of references is included. (SLD)