Thursday, October 13, 2005

County sees drop in GRT revenue

DARRYL NEWMAN, Monitor Staff Writer

When Los Alamos County received its last gross receipts tax revenue payment for fiscal 2005, county staff discovered revenues have decreased by 12.7 percent when compared to fiscal year 2004.

The last payment from the state was received Aug. 15 and signified the completion of the 2005 total. Although county staff anticipated a decrease during the fiscal 2006 budget development process, they did not expect to see such a drastic decline.

"This decline is seen across the board," County Finance Manager Steve Lynne said on Wednesday. "It's basically everything combined together. We had projected a decrease and it turned out to be more than we expected."

Most of that decline, Lynne said, stemmed from two sources: the change in business practices at Los Alamos National Laboratory in respect to its contingent worker program and a decline in local construction activity.


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