The Belen City Council approved this fiscal year’s final budget on Monday night, expressing caution that the budget remains tight because gross receipts tax revenue remains lower than expected.

The vote was 3-0. Councilor Wayne Gallegos was absent.

The budget anticipates general fund expenditures of more than $4.9 million. It anticipates general fund revenues of almost $4.3 million. The difference is made up through transfers from other revenue sources.

The general fund balance at the end of the 2010-2011 fiscal year, assuming gross receipts revenues come in as projected, is just above $3,000.

With the budget so tight, the city is continuing to operate with extreme caution.

While there has been discussion of additional cuts because of weak gross receipts, no decisions have been made.

According to the city’s finance director, Michael Steininger, the city can look at cutting capital projects, like the roof repair for the municipal court, or budgeted purchases, like needed equipment, before further affecting staff.

This page was published on July 28, 2010 at 10:12pm and is filed under Budget, Economy.