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Los Lunas forecasts strong GRT revenue as FY2027 budget process begins
Summary
At a March 28 workshop, Village finance staff said gross receipts tax drives roughly 73% of General Fund revenue and reported GRT is 22% ahead of last year and 49% ahead of the adopted budget; staff warned reports lag by two months and proposed conservative assumptions for the FY2027 forecast.
Cheryl Cates, the village finance presenter, told trustees at the March 28 strategic planning workshop that gross receipts tax (GRT) remains the dominant General Fund revenue source, comprising about 73% of receipts while property tax accounts for roughly 10% of revenue. "We want to monitor the fact that we are 22% ahead of the prior year’s GRT, and 49% ahead of what was budgeted for revenue," she said during the FY2027 preview.
Cates explained reports are produced on a two‑month lag (the report circulated in February reflects December 2025 activity) and staff used a five‑year average with an 0.85% multiplier and modest cushions to build the five‑year forecast. She advised an assumed 2.5% interest rate and flagged that the Village’s monthly financial and weekly cash status reports are intended to give the council near‑term visibility on receipts, expenditures and cash flow as large capital payments are made. Councilors asked only clarifying questions; no formal action was taken.
