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Jemez Springs council adopts three budget resolutions; quarterly report shows $410,772 ending cash
Summary
On July 15, 2025, the Village of Jemez Springs Village Council unanimously approved three finance resolutions to adjust the FY25 budget, accept the year-end quarterly report, and adopt the FY26 final budget amid uncertainty over Self-Insurers’ Fund premiums.
The Village of Jemez Springs Village Council on July 15 unanimously approved three finance resolutions covering year-end adjustments, a final quarterly report and adoption of the FY26 budget.
Finance Director Consultant Jim Cox presented Resolution 2025-009, a budget transfer to cover expenditure increases in the sewer fund and the bath house, and asked the council to approve the adjustment. Trustee Robert Wilson moved to approve Resolution 2025-009, seconded by Trustee Manolito Sanchez. Interim Clerk Heather Gutierrez conducted a roll call vote: Trustees Boyd, McCue, Sanchez and Wilson voted aye; the motion carried.
Cox then presented Resolution 2025-010, the final quarterly report for the year ending June 30, 2025. He said the report shows a beginning cash balance of $130,543 and an ending cash balance of $410,772, noting total revenues for the fiscal year were $2.5 million and total expenditures $1.8 million across general, enterprise, restricted, and grant funds. Trustee Manolito Sanchez moved to approve Resolution 2025-010, seconded by Trustee Judy Boyd; the resolution passed by unanimous roll call vote.
For Resolution 2025-011, Cox summarized the FY26 final budget and explained that the village remains uncertain about the amount of the New Mexico Self-Insurers’ Fund (SIF) premium it will owe. He said the SIF has suggested a new premium model indexed to gross receipts tax revenue; Cox told the council the SIF staff described the proposed GRT-indexed approach as “reasonable, logical, and actuarily sound.” The council approved Resolution 2025-011 to adopt the FY26 budget of $410,000 with a starting cash balance of $230,000. Trustee Robert Wilson moved to approve Resolution 2025-011, seconded by Trustee James McCue; the motion carried on a unanimous roll call vote.
Why it matters: the resolutions finalize accounting entries needed to close FY25, recognize stronger-than-expected cash growth for the year, and set the village’s operating plan for FY26 while flagging potential exposure to SIF premium changes. Finance staff said completing outstanding audits remains necessary to release held capital outlay grants.
Votes at a glance: - Resolution 2025-009 (budget adjustments for sewer fund and bath house): Mover — Trustee Robert Wilson; Second — Trustee Manolito Sanchez; Vote — Boyd: aye; McCue: aye; Sanchez: aye; Wilson: aye; Outcome — approved. - Resolution 2025-010 (final quarterly report year ending June 30, 2025): Mover — Trustee Manolito Sanchez; Second — Trustee Judy Boyd; Vote — Boyd: aye; McCue: aye; Sanchez: aye; Wilson: aye; Outcome — approved. - Resolution 2025-011 (FY26 final budget adoption): Mover — Trustee Robert Wilson; Second — Trustee James McCue; Vote — Boyd: aye; McCue: aye; Sanchez: aye; Wilson: aye; Outcome — approved.
Council members and finance staff said the village will continue efforts to complete outstanding audits (2023 and 2024) and monitor SIF action expected in mid-August that may affect the budgeted premium amount.
