FY/18 Proposed Budget for General Fund
- GRT reduced but stable for current fiscal year 2017 – growth revised from budget of 2.9% to 2.3%
- GRT for fiscal year 2018 – growth at 3.0%, would be 4.1% if not for state reductions & TIDDS
- All other revenue sources are stable – property tax for instance growing at 1-2%
- Two minor fee increases in Senior Affairs (used for enhanced services – dances and meals)
- No Tax Increases. No furloughs. No layoffs.
- Reserves for a pay raise equivalent to 1% for over 900 employees making under $30,000 annually
- Continued funding for 1,000 Police Officers
- $1.2 million for personnel and other costs of our new Property Crime Reduction Program
- One million to fund our plan to address the testing of the backlog of sexual assault kits
- $600 thousand to continue operating the APD Special Investigation Division (formerly paid with federal forfeiture money)
- 12 new positions and associated operating costs at the Albuquerque BioPark needed to open the new Otter and Penguin exhibits as well as to maintain zoological accreditation through the AZA
- $563 thousand for special events that highlight and celebrate our rich culture and diversity
- $285 thousand for continued efforts in the area of economic development
- Recurring funding in Animal Welfare for the Trap Neuter Release Program and Animal Behavior Specialists
- Recurring funding for nationally acclaimed programs including Albuquerque Heading Home, Running Start for Careers, Homework Diner, International Baccalaureate at APS and the Esperanza Bike Shop
- Recurring funding for new positions and operating dollars for the expansion of Pat Hurley and Dennis Chavez Community Centers
- New positions in Family and Community Services to help manage social service contracts and conduct more community outreach
- $360 thousand for the continuation of the Downtown Clean and Safe Program
- Utility and other operating costs to open the new Westside Regional Baseball Complex built with bond proceeds approved by voters over the last two years
- Expanded funding for nationally recognized panhandling initiative “There’s a Better Way”
- A new position in the Inspector General Office to conduct Cyber Investigations
- A new position in Senior Affairs to begin preparation of hosting the National Senior Games in 2019
- $200 thousand in additional supplemental reserves (now at $1.4M)
- $510 thousand for pay increases for employees under $30,000/year
- $840 thousand for a potential run-off election
- $633 thousand in Lodgers and Hospitality Funds to pay fees and begin advance work for the hosting 2019 National Senior Games
- Funding to replace the well at Los Altos Golf Course saving $500 thousand/year in water costs
- Closing Alamosa Satellite Library – attendance down 33% since opening Unser Library
- Albuquerque Metro added 200 jobs in February compared to February of 2016, representing the 40th consecutive month of job growth.
- Overall job growth for 2016 was adjusted up by the U.S. Bureau of Labor Statistics from 1.0% to 1.7%. This is right about the U.S. growth rate of 1.8%
- Health Services, Professional and Business Services, and Retail Trade showed the most growth, but all sectors grew with the exception of three.
- ABQ Metro Unemployment rate (non-seasonally adjusted, NSA) rose to 6.2% in January compared to January of 2016 at 5.8%, however, ABQ Metro labor force grew at a faster rate. Sometimes, economists attribute this to people being encouraged to re-enter the workforce, putting upward pressure on the unemployment rate.
- In comparison, the U.S. unemployment rate fell to 5.1% (NSA) – here, the country is adding jobs, however, the labor force isn’t growing as fast.