Description
Title: Revenue & Expense Report for Second Quarter Fiscal Year 2026
Summary
The document EC-26-80 outlines the Second Quarter Revenue and Expense Report for Fiscal Year 2026 (FY/26) for the City of Albuquerque. It provides an analysis of current and projected revenue and expenses in compliance with the Budget Ordinance. The report details various revenue sources, including Gross Receipts Tax (GRT), Property Tax, Franchise Taxes, and other income streams, comparing them to prior fiscal year estimates. It indicates a generally positive outlook for FY/26, with GRT anticipated to grow 3.4% and Property Tax by 4%. However, some revenue sources, like Miscellaneous Revenues and Certain Permits, are projected to decline. This report is crucial for city officials and the public to understand financial health