What will the Village of Corrales spend in fiscal year 2027, and what will that money buy? Village councilors will take the first step toward determining that at Tuesday’s meeting.
The preliminary budget up for consideration includes $11.31 million in general fund spending, up about 5.5% from the current fiscal year. The police and fire departments, set to spend more than $2 million each, account for more than one-third of the total budget, which also includes a 2.8 % Cost of living adjustment for all village employees other than part-time temporary workers. The spending plan also includes $50,000 for an architect.
At the direction of the council, village staff are also taking a look at creating an emergency fund. No money has been designated for such a fund in the preliminary budget.
One unknown the village will have to deal with is legislative appropriations, which have not been funded and therefore are not included in the budget. If the related contracts are executed prior to final approval of the budget, they will be added at that time. Otherwise, staff will bring budget adjustment requests to the council later.
Also at the meeting, councilors will be asked to approve the sale of $1.6 million in bonds to cover fire and flood-control projects. The bonds are part of a $4 package approved by Corrales voters in 2023. The first $2.4 million were sold in 2024. The agenda also includes consideration of applications for farmland preservation grants and a discussion of the sketch plan for the Anderson Property, near the Village Administration Complex.
HOW TO PARTICIPATE:
WHEN: 6:30 p.m.May 12
WHERE: Village of Corrales Council Chambers, 4324 Corrales Road VIRTUAL: via Zoom; Meeting ID: 862 0408 4686 Passcode: 199253.