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City Releases Five-Year Forecast

Annual planning tool shows manageable deficit, opportunities to invest in priorities.

March 3, 2023

Today, the City released its five-year forecast for fiscal years 2024 through 2027. The forecast shows an expected leveling-off of funding after the previous two years, which saw significant one-time funding from sources such as settlements and COVID relief funds. The City’s policy to correct historic gender pay equity will be a significant and inevitable impact on the budget moving forward. Similar to pre-pandemic years, the forecast shows a manageable deficit. Even with the effects of inflation and cost increases across the board, the projected deficit can be addressed through program reviews and will still allow for important investment in priority operations.

“With our experience and commitment to fiscal responsibility, we will present a balanced budget that maintains our priorities and continues to spur progress for our communities,” said Chief Financial Officer Sanjay Bhakta. “We’re well prepared to make necessary adaptations to move Albuquerque forward.”

The purpose of the Five-Year Forecast is to act as a planning tool, identifying key trends in revenues and expenditures and information about the financial challenges and opportunities anticipated in the coming years. The forecast does not necessarily reflect what will be presented in the upcoming budget.

The full Five-Year Forecast is available here.