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Finance director: county revenues near projections but several funds rely on transfers
Summary
Taos County finance staff reported FY24 second-quarter results showing general fund revenues close to projections but structural gaps in public works, jail/detention and EMS funds that currently require transfers from the general fund; the general fund cash balance was reported at roughly $14 million.
Taos County’s finance staff delivered a second-quarter financial update showing mixed results across major funds and cautioning commissioners about transfer needs later in the fiscal year.
Emily presented the packet and highlighted that overall revenues track at about 50% of budget while property tax receipts were reported ahead of budget at approximately 66%. She flagged that public works, jail/detention and EMS enterprise funds continue to run deficits because recurring revenues do not fully support recurring expenses; these shortfalls have been covered to date by the general fund cash balance, which Emily reported as roughly $14,000,008. She cautioned that grant-match reserves have been largely depleted and that future transfers will be required to sustain critical services if revenue patterns do not improve.
Commissioners asked clarifying questions about specific line items (business licenses, PILT timing) and Emily laid out next steps for the budget season, including continued monitoring and providing supplemental detail on transfers and intergovernmental receipts.
