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Los Lunas Council approves FY2026 year-end budget adjustments to reconcile revenues and expenditures
Summary
Finance Director Cheryl Cates presented revised year-end adjustments for Fiscal Year 2026, reconciling delayed utility billing, NMFA statements and additional interest revenue; Council approved Resolution 26-12 unanimously, with changes across multiple funds including Solid Waste and recreation.
Finance Director Cheryl Cates provided a revised Resolution 26-12 to make final year-end budget adjustments for Fiscal Year 2026. Cates said delayed posting of utility billing information and receipt of New Mexico Finance Authority June statements produced additional interest revenue that required corresponding adjustments; the revisions spanned multiple funds and included increased gross receipts tax revenue, Solid Waste fund expenses for major vehicle repairs and HVAC replacement, and additional recreation program expenditures.
Council discussed the source of increased gross receipts tax revenue and Cates indicated construction activity along Los Lunas Boulevard was the primary contributor and that anticipated development such as the Meta project could further increase revenues once construction begins. The Council approved Resolution 26-12 on a 4-0 vote (moved Councilor Runyon; seconded Councilor Romero).
