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Los Lunas proposes $243.3 million FY2027 budget driven by I-25 interchange grants
Summary
Village staff presented a proposed FY2027 budget of $243,292,277 in revenues and $187,444,862 in expenditures, with $158.1 million of grant revenue dedicated to the I-25 Interchange/Los Lunas Blvd Corridor and capital outlay comprising 71.4% of spending.
Village officials on April 14 and 16 outlined a proposed FY2027 budget that totals $243,292,277 in revenues and $187,444,862 in expenditures, driven largely by grants for regional infrastructure.
"We are presenting a rather large budget as we did last year," Village Administrator Gregory D. Martin said while summarizing revenue and expenditure assumptions. The revenue figure excludes fiduciary funds; intergovernmental grants account for $170,296,840 of the total, including $158,133,212 earmarked for the I‑25 Interchange/Los Lunas Boulevard Corridor project. Capital outlay is budgeted at $133,788,645, or 71.4% of total expenditures.
Staff said they plan to maintain a minimum general fund cash balance equal to six months of general fund expenditures ($23,015,004) and to meet the New Mexico statutory 1/12 (8.33%) reserve requirement ($3,835,834). The administration described the FY2027 expenditure total as a 9.9% decrease from the prior year adjusted budget and projected a 5.0% decline in revenues compared with the previous adjusted budget.
The presentation emphasized that much of the budget’s scale is project-specific rather than recurring operating cost — the I‑25 interchange-related grants and capital investments are the principal drivers. Staff said they will return to the council with final adjustments and seek formal approval after incorporating council direction.
