ABQ Times

The City of Albuquerque unveiled its five-year financial forecast covering fiscal years 2024 through 2028, aiming to provide insight into future revenues and expenditures. This tool, created annually, projects a return to historical growth post-pandemic, considering factors like the phasing out of food and medical hold harmless payments. While a slight deficit is expected, the City plans to address it through strategic program reviews and adjustments.

Chief Financial Officer Kevin Sourisseau emphasized the importance of fiscal responsibility, stating, "We will adapt to changes in the financial landscape to put our city in a strong position moving forward."

The forecast prioritizes investments in key areas such as public safety, with plans to operate the Albuquerque Community Safety Department round the clock; homeless solutions, including enhancing operations at the Gateway Center and expanding services online; and the City workforce, ensuring wage increases for employees.

Notably, the forecast is a conservative estimate and does not incorporate potential economic impacts from upcoming projects like Maxeon and Netflix expansions. If these ventures materialize as planned, they are expected to significantly boost the City's revenues.

Sourisseau affirmed, "We will present a balanced budget that allows us to invest in public safety, homeless solutions, and quality of life projects for our families." The five-year forecast serves as a tool to identify financial challenges and opportunities ahead, although it may not precisely mirror the upcoming budget proposal.