Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Taos posts stable fourth-quarter finances; council presses staff on utility-billing delays and airport, landfill projects
Summary
Finance Director Jonathan Montoya reported the town ended FY24–25 with generally stable balances and investment income; the council reviewed interim FY25–26 budget numbers and raised operational concerns about delayed utility billing tied to an ERP migration, airport terminal work and pending landfill/grant items.
The Town of Taos presented its fiscal year 2024–25 fourth-quarter financial report to the council on July 21, with Finance Director Jonathan Montoya saying the town remains in a stable financial position as of the June 30 close.
Monies and revenues
Montoya reported the town collected roughly $20.7 million in general‑fund revenues for FY24–25 and expended about 81% of the general fund budget by year‑end. He highlighted rising investment income, noting interest and market returns from state treasurer accounts and money-market investments. Average gross-receipts-tax (GRT) growth for the year was reported at about 2.18%.
Montoya summarized multiple funds — enterprise, special revenue and capital projects — and detailed year-end positions. He noted the town had processed large temporary transfers into capital-project funds to cover grant-funded expenditures while awaiting reimbursement, and staff said two large transfers tied to federal RAISE grants had been processed to prevent reimbursement timing problems.
Budget and interim adoption
Council reviewed the FY25–26 final budget highlights. Montoya and Manager Martinez described the interim-to-final adjustments, including projected GRT growth (budgeted at 2.4%), anticipated salary and benefits increases tied to PERA and a projected 20% medical insurance increase for staff. The town will continue to work under an interim budget until the final paperwork is filed with the state Department of Finance and Administration.
Utility billing delays and ERP migration
Several council members pressed finance and management about delayed water and sewer bills. Montoya and Manager Martinez explained the town’s migration to a new ERP (Encode ERP 10) and unresolved issues in billing processes have delayed distribution. Manager Martinez said staff have had to schedule specialized support from the ERP vendor and that a press notice would be issued to customers explaining the delay; she asked for patience while staff resolve meter-read and software-read issues. Councilors stressed the need for customer notifications and interim guidance to residents who have not received regular bills.
Airport, landfill and capital projects
Councilors also asked about the airport terminal project and reimbursements. Staff said demolition is complete, mobilization awaits a well abandonment and three‑phase power installation, and FAA equipment (AWOS) had to be removed before demolition. Reimbursements from FAA and EDA were described as timely (about a week turnaround once submitted). On the landfill, councilors returned to the $8 million capital-outlay allocation and the composting discussion; staff reiterated that the town has not yet accepted the grant agreement and that the landfill board will assume responsibility for projects on landfill property.
Other finance notes
Staff said two temporary transfers to capital funds had been processed to cover grant-funded purchases pending reimbursement. The town’s final-year debt payments included paying off a town-hall bond on July 1, which the administration said saved interest expense and cleared room for a new loan tied to another remediation project. Montoya described ARPA (American Rescue Plan Act) and other special funds as largely encumbered for planned projects, with several grant-driven projects underway.
Council direction and next steps
Council asked staff to circulate a customer notification about billing delays and to return with a short schedule for airport terminal work and landfill/grant next steps. Manager Martinez said the final budget hearing and adoption steps will proceed at the next regular meeting, and staff will provide the DFA supporting schedules required for final filing.
Ending
No final budget adoption was taken at the workshop; council members praised the finance team for completing the year-end close and asked staff to prioritize communications about customer billing and to provide an update on grants and capital-project reimbursements.
