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County reports balanced FY26 midyear budget; AMR reimbursement and GO bond payoff confirmed
Summary
Do—na Ana County's midyear budget shows revenues lagging in timing-sensitive categories but an overall balanced position; staff confirmed full AMR reimbursement and payoff activity relating to the 2013 GO bond.
Do—na Ana County staff presented the FY26 midyear budget update at the March 24 meeting, reporting that revenues are behind some seasonal expectations but the county remains on a balanced budget path.
Budget Director Eric Alvidres told the board the county had budgeted roughly $346 million in revenue for the fiscal year and had realized about 44% at midyear; he attributed lower midyear numbers primarily to timing of property-tax receipts and certain equalization items. "Property taxes usually ... post in December; by February our property-tax receipts were at $41 million of the $60 million budgeted," Alvidres said, noting that timing makes midyear metrics appear lower than annualized expectations.
Service revenue categories varied: federal care-of-prisoner receipts and some franchise fees were tracking at expected levels, wastewater fees lagged but later posted more closely to projections, and investment interest was performing well at roughly 56% of the budgeted line. Alvidres said that, excluding grants and fair-value investment adjustments, the general fund would be approximately 39% realized at midyear and that February results moved the year-to-date pace closer to full-year expectations.
Lucio Lutral, interim deputy county manager, highlighted that countywide operating revenues and actuals (about $92.9 million) tracked with operating expenditures at midyear, supporting the assessment of a balanced position.
Crucially for previous agenda items, staff confirmed the county has received full reimbursement from AMR and noted that the payment helped retire the outstanding balance on the 2013 GO bond series (maturity shown as September 2033). "We did confirm that the county has received the full reimbursement amount and also the payoff of the 2013 series GO bond," Lutral said; staff said they would circulate the full debt-service schedule on request.
Alvidres stressed that capital expenditures are frequently multi-year and low at midyear while design and procurement proceed; staff said material purchases and construction will appear later in the fiscal year or carry into the next budget cycle. Overall, the county reported $226 million in cash-on-hand at midyear, of which $67 million was unrestricted and $34.9 million represented the general-fund reserve consistent with 3/12s policy.
Commissioners did not propose changes to core assumptions but asked staff for follow-up details on debt schedules and specific funds; staff agreed to circulate the documents and to return with clarifying entries as needed.
