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Los Ranchos trustees adopt 2025–26 budget, approve final-quarter financial report
Summary
The Board of Trustees approved the village's final-quarter financial report for fiscal 2024–25 and adopted the fiscal 2025–26 budget, with staff projecting modest cash surpluses and trustees questioning several minor revenue line items and bond payment timing.
The Board of Trustees of the Village of Los Ranchos de Albuquerque on Tuesday approved the final-quarter financial report for fiscal year 2024–25 and adopted the fiscal 2025–26 budget.
CFO Tammy Seal presented Resolution 2025-07-01, the state-required final-quarter rollup, explaining the cash-plus-investments figure ties to the cash report on page 72 of the packet. She told trustees the village does not make monthly GO bond payments but pays principal and interest twice a year; property tax receipts and transfers cover the payments.
Seal said the village closed the year with an anticipated general-fund excess of about $162,000 and an aggregate across funds of roughly $172,000 if the budget forecasts hold. Trustees asked about specific line items in the FY26 budget, including a lodgers-tax placeholder, a small merchandise revenue account, film-permit fees and animal-license fees; Seal explained some entries are historical placeholders or conservative budget estimates and that actuals will vary.
Trustees discussed whether to remove or consolidate low-value line items for clarity; staff said the items can be combined under miscellaneous or removed in future presentations. After discussion, the board voted to approve both resolutions: final-quarter financial report (Resolution 2025-07-01) and the FY25–26 budget (Resolution 2025-07-02). The clerk recorded four affirmative votes on each motion.
The board also discussed a general upward trend in gross receipts tax (GRT) receipts and a plan to present more detailed reporting on planning, zoning and code-enforcement caseloads monthly. Mayor Lawrence Scribe said he expects staff to return to trustees if budgeted estimates change materially.
The board adjourned the finance items noting that additional budget adjustments could be made administratively if necessary and that the trustees will continue to monitor revenue and reserve projections.
