About 1.2 million years ago, a volcano erupted and collapsed inward, forming the crater now known as the Valles Caldera, in north-central New Mexico. This geologically and ecologically unique area covers about 89,000 acres of meadows, pine forests, hot springs, volcanic domes, and streams that support elk herds and other wildlife and fishery resources.

The Valles Caldera Trust

The federal law that created the Valles Caldera Preserve in 2000 requires the Valles Caldera Trust to protect the unique natural values of the 98,000 acre Preserve in the heart of New Mexico's Jemez Mountains, while becoming financially self-supporting by 2015. Despite an extensive grazing program, an independent government report says the Trust is not making adequate progress to ensure that the Preserve is meeting congressional mandates.

The GAO also found that a lack of planning resulted in decisions to suppress fires and promote livestock grazing, both of which have negative financial and environmental consequences. For example, though the congressional mandate allows for the area to remain a working ranch, the statute makes it clear that ranching must ensure the protection of natural values and help the Trust meet its economic self-sufficiency mandate. However, according to the GAO, the Trust has lost money on its grazing program every year, including 2004 when it lost $55,000. Read the GAO report..