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Corrales council approves year‑end budget adjustments and a DOT road grant participation
Summary
Council approved Resolution 26‑45, a year‑end budget adjustment report noting $628,713.46 in additional property tax revenue, and Resolution 26‑46 to participate in a DOT local government road fund project (L300398) that staff said will be fully funded by grant and capital outlay match.
The Corrales governing body approved a year‑end budget adjustment and authorized participation in a state road‑fund program at its July special meeting.
Staff told council that unanticipated revenues included $628,713.46 in property‑tax receipts above budgeted expectations, roughly $4,000 in additional franchise taxes, about $35,000 more in building‑permit receipts and nearly $50,000 extra in court fines; some of that property‑tax increase was directed to bond fund obligations. Staff said a complete surplus/expenditure accounting will be available at a special July 30 meeting when fourth‑quarter reports are finalized.
Council then approved Resolution 26‑46 to participate in the New Mexico Department of Transportation local government road fund program for project L300398. Staff explained the grant covers Reclining Acres and capital outlay funds will cover the village’s match, meaning the project will be fully funded by grant and capital outlay dollars; councilors asked whether the program applies to a single project (staff said yes) and received a summary of escalating costs for road projects.
Both resolutions passed by roll call vote.
