Taos council adopts balanced $101.2 million budget for fiscal 2025–26

The Town of Taos Council on July 22 approved Resolution 25-37, adopting the fiscal year 2025–26 operating and capital budget after a presentation from Town Manager Lupe Martinez and Finance Director Jonathan Montoya.

Manager Lupe Martinez told the council she "respectfully submit[ted] this proposed budget for your consideration and adoption today, Tuesday, 07/22/2025," and described the plan as balanced and compliant with New Mexico law, including the required one‑twelfth general fund reserve.

The adopted budget includes an $18.9 million general fund operating budget and a capital program of about $28.9 million. Total budgeted expenditures across all funds were presented as $101,170,422, with estimated revenues of roughly $75,599,000; the difference reflects multi‑year projects and carryover grant funds. The manager said general fund revenues are budgeted at $20,626,359 for FY25–26 and noted the town remains largely dependent on gross receipts taxes.

Why it matters: Council members and staff framed the budget as the town’s principal policy document for the year and highlighted funding for public infrastructure and services. The capital program earmarks $15.6 million for airport construction, $4.9 million for facility improvements, $1.3 million for affordable housing, $4.0 million for roads, and specific rehabilitation projects including the youth and family center (ice rink) and the Taos Public Library restrooms.

Council discussion and vote: Council members made brief remarks thanking staff for the work; several members emphasized ongoing monitoring of capital projects and warranty concerns for contracted work. A motion to approve Resolution 25‑37 was made and seconded. The clerk called the roll: Mayor Pro Tem (yes), Council Member Oswald (yes), Council Member Ortega (yes), Council Member Fernandez (yes). The motion passed unanimously of those voting.

What the town manager said about reserves and debt: Martinez told the council the budget maintains a statutory one‑twelfth general fund reserve (about $1.5 million) and an additional unrestricted reserve of about $3.1 million. She reported a favorable Moody’s bond rating and noted a $526,838 final general‑fund debt payment was included for FY25–26.

Next steps and oversight: Manager Martinez and department directors said they will continue monitoring revenues (noting the town’s sensitivity to gross receipts tax collections) and will present routine project updates to council on high‑priority items such as Filimon Sanchez Park, the ice rink, and airport terminal work.

Votes at a glance: Resolution 25‑37, adoption of FY25–26 budget — outcome: approved (roll call recorded as all yes).*