Title
Approval of the Calculation of Revenue Transfer from Electric & Gas Funds for Operations during Fiscal Year 2025 and Approval of Budget Revision 2026-48
Recommended Action
I move that Council approve the transfer of 5% from the Electric and Gas funds to the General Fund during fiscal year 2026, and that these amounts be redirected for use within the Joint Utility Fund for the purposes designated by Council in accordance with Incorporated County of Los Alamos Ordinance 02-324.
I further move that Council approve Budget Revision 2026-48 as summarized in Attachment D, and that the attachment be made a part of the minutes of this meeting.
I further move that Council extend the profit transfer redirection option per County Code Section 40-63(d) for an additional year to FY2031.
Utilities Manager's Recommendation
The Utilities Manager recommends that Council approve the motion as presented.
Board, Commission or Committee Recommendation
The Board of Public Utilities approved this request at their regular meeting on March 18, 2026 and recommends that Council approve the motion as presented.
Body
In accordance with Charter Article V.509 and Chapter 40-63 (c)(12) b. of the County Code of ordinances, the attached calculation reflects five percent of gross sales of the electric and gas utilities, exclusive of sales to the County or the Schools, as the Revenue Transfer amounts. These transfer amounts are computed following completion of the County’s annual financial audit (ACFR). In January 2022, Council passed code ordinance 02-324, which continued the transfer-back or revenue, “For a five (5) year period…[which] may be extended by Council for one (1) additional year at the time of Council’s consideration of an annual redirection of a revenue transfer "formally profit transfer.” Ordinance 02-324 further specifies that “upon approval of the revenue transfer amounts by Council, the Council may, through formal action, redirect some or all of...
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