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 the Board of Public Utilities recommend transferring 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 the Board recommend 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 these actions be forwarded to Council with a recommendation for approval.
I further move that the Board of Public Utilities recommend 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 the Board approve the motion as presented.
Body
The purpose of this agenda item is to 1) approve the calculation of the FY2026 revenue transfer based on the FY2025 Annual Comprehensive Financial Report (ACFR); 2) approve the associated budget revision; 3) forward to Council with a recommendation for approval, and 4) recommend Council add another year to the redirection option.
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) ad...
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