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Council approves BAR to correct prior‑year bookkeeping errors
Summary
The council approved resolution 26-48, a budget adjustment request (BAR) to fix double‑budgeted lines and move funds among 400-series accounts; Administrator Romero said the BAR cleans up transfers and closes fiscal-year items.
The Corrales Village Council approved a BAR (resolution 26-48) intended to correct prior-year budgeting errors and reallocate line items so fiscal accounts balance.
Administrator Romero explained that some entries had been double‑budgeted and that several transfers among 400‑series accounts (for bond and debt service lines) were necessary. She described 401 as the overarching property‑tax account and said the BAR reorganizes transfers so the department of finance and DFA can process them correctly. "That million was only supposed to be in the transfer out and in the revenue line," Romero said, describing the correction for a debt‑service transfer.
Councilor Murray pressed for clarity about whether lines should read 'transfer in' or 'transfer out' and whether the cover sheets adequately explained the lines; Romero and staff said the BAR and a supplemental cover sheet would explain the moves. The council moved, seconded and approved the BAR by roll call.
The BAR aims to align the village’s accounting entries with LGBMS records and to close out the fiscal year cleanly; staff said the BAR will be submitted to DFA after the council’s vote.
