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From YouTube: Finance Meeting 3/21/22
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A
You're
not
live
thompson
terrific
at
502.
We
will
call
to
order
the
what
is
today
march
21st
meeting
of
the
finance
committee
and
if
we
could
get
a
roll
call
vote,
please.
C
A
All
right,
I
think
we
have
a
quorum
correct.
Yes,
you
have
a
quorum.
Madam
chair,
wonderful.
We
need
to
go
to
approval
of
the
agenda,
but
I
need
to
make
a
change
in
our
presentation
schedule.
We
are
going
to
hear
the
economic
update
by
dr
riley
white
first
and
then
the
audit
status
update.
A
D
A
A
Okay,
other
members
of
the
committee
counselor
lindell,
thank
you,
chair,
I'd,
like.
G
Council
olympia
ariel
also
item
n,
as
in
nancy.
Okay,
thank
you.
A
All
right
with
those
items
paul
do
we
have
a
motion
to
approve
move
to
approve.
Second,
we
have
a
motion
in
a
second
to
approve
the
consent
agenda.
As
amended,
can
we
get
a
roll
call.
D
A
Perfect
now
on
to
approval
of
the
minutes
from
february
28th
finance
committee
meeting,
are
there
changes
from
staff
or
changes
from
the
committee
on
the
28th
of
february
minutes?
Seeing
none?
What's
the
pleasure
of
the
committee
move
to
approve.
A
D
A
You
we
do
not
have
an
executive
session,
so
we'll
move
on
to
presentations
and,
as
we
stated
at
the
beginning,
we
are
going
to
be
hearing
first,
the
economic
update
from
dr
riley
white
and
I
believe,
he's
oh
there.
You
are
terrific,
thank
you
for
being
here
tonight
and
I'll
just
turn
it
right
over
to
you.
Unless
mary,
you
have.
H
I
want
to
thank
dr
white
for
joining
us
today
with
this
economic
update
that
he's
about
to
provide
it's
very
insightful
to
understand
where
we're
at
at
this
point
in
time,
with
various
different
changes
to
our
economy
over
the
last
few
months,
given
the
geopolitical
events,
but
also
continuation
and
some
of
the
patterns
that
we've
seen
nationally
and
locally
as
it
relates
to
our
labor
markets,
as
it
relates
to
housing
markets,
other
very
important
items
and
issues
that
the
council
regularly
deals
with,
so
really
wanted
to
view
dr
white's
presentation
tonight
with
the
lens
looking
forward
to
our
fy
23
budget
that
will
be
coming
in
front
of
the
governing
body
this
spring.
H
So
there
it's
really
important,
dr
white's,
going
to
be
talking
about
gross
receipts
tax
and
the
outlook
for
gross
receipts
tax
and
lodgers
tax
as
well.
This
evening,
we're
happy
to
report
that
january
numbers
have
came
in
last
week.
You
all
will
be
receiving
your
monthly
update
for
january,
where
we're
seeing
ourselves
year
over
year
with
january's
we're
up
1.7
million
in
january
22
over
january
of
21..
We
continue
to
see
the
positive
economic
growth
as
it
relates
to
gross
receipts
tax.
H
So
with
that
lens
ahead
towards
our
this
being
a
some
initial
groundwork
that
we're
laying
ahead
of
our
fy23
budget
turn
I'll
turn
it
over
to
dr
white.
At
this
time,.
I
Well,
thank
you
so
much
director
mccoy
and
thank
you
so
much
counselors,
it's
an
honor
to
be
here
today
in
an
honor
to
talk
to
you
all
a
little
bit
about
the
current
economic
condition,
especially
as
we
and
and
going
forward
where
we
expect
to
be.
Let
me
share
my
presentation
right
here
and
I
will
just
one
second
here
we
go.
Hopefully
this
will
work
because
of
my
monitor
size,
keeping
it
outside
of
presentation
mode
works
a
little
bit
better.
Here's
the
economic
outlook
for
today
I'll
start
off.
I
This
is
me.
I
think
I've
met
most
of
you
before
in
some
capacity
at
least
digitally.
But
those
of
you
don't
know
me,
I'm
an
associate
professor
of
finance
at
unm,
I'm
also
the
assistant
dean
at
unm,
anderson
of
teaching
and
earning
teaching
and
learning.
I
I'm
sorry-
and
we
have
a
in
this
capacity-
I'm
also
the
principal
of
erebor
llc,
to
give
a
sense
of
where
we
are
today,
I'm
gonna
kind
of
kind
of
go
overview
nationally,
and
then
I'm
gonna
break
it
down
into
the
state
and
then
go
more
specifically
into
the
city
of
santa
fe
and
so
the
most
prevailing
characteristic
right
now
that
we
have
is
we're
experiencing
this
year.
What
I
would
say
is
moderate
growth,
but
also
inflation.
I
It
isn't
stagflation,
the
economy
is
still
growing,
we're
still
recovering,
but
there
are
some
interesting
aspects
that
I
want
to
point
out.
First
of
all,
is
the
labor
market
remains
very
strong.
We
have
about
a
3.8
percent
unemployment
rate
nationally,
that's
very
close
to
what
we
consider
full
employment
now
to
be
part
of
the
unemployment
rate.
I
You
have
to
be
looking
for
a
job
as
well,
so
it
does
only
count
people
who
either
have
jobs
or
are
actively
looking
for
one
during
2021
gdp
growth
fell
very
close
to
where
we
expected
it
to
be
about
5.7
percent.
That's
a
very
high
rate.
The
highest
gdp
growth
we've
seen
in
about
40
years
annual
inflation,
however
reached
about
7.9
percent
annually.
That
is
the
highest
that
we've
seen
since
january
1982
for
those
keeping
record.
I
So
what
happened
is
is
recently,
of
course,
geopolitical
actions,
particularly
in
russia
and
ukraine,
have
added
further
uncertainty
into
market
conditions.
Sanctions
and
trade
policies
are
likely
to
have
continued
supply
chain
effects
through
2023
and
and
sanctions
in
particular,
and
also
the
the
trade
situation
in
general
will
likely
be
difficult
going
ahead
now,
prior
to
the
russian
invasion
of
the
ukraine,
the
federal
reserve
was
expected
to
announce
up
to
seven
rate
hikes
during
2022..
I
Now
the
federal
reserve
is
often
called
the
banker
of
bankers.
They
often
help
supply
financing
to
the
rest
of
the
economy,
so
they
actually
only
decide
one
interest
rate
and
that's
overnight,
lending
to
large
banks,
but
this
one
rate
has
sort
of
a
ripple
effect
on
all
the
other
rates
that
we
have
in
the
economy.
So
it
becomes
very
important
and
people
watch
it
as
a
signal
of
monetary
policy.
I
So,
in
an
effort
to
what
the
fred
will
do
is
they
will
raise
interest
rates
in
an
effort
to
help
reduce
economic
activity
and
control
inflation.
They
will
lower
rates
to
stimulate
the
economy
and
the
economy
grew
so
fast,
so
quickly
that
we
experience
incredible
amounts
of
info
for
us
in
the
last
40
years.
Incredible
amounts
of
inflation.
I
So
it's
likely
we're
going
to
see,
especially
with
chairman
powell's
comments
today,
additional
rate
hikes
and
quantitative
tightening
this
year,
the
fed
will
seek
to
try
to
rein
in
inflation
to
around
its
two
percent
target
level.
It
is
unlikely
at
any
capacity
they
will
hit
that
this
year,
so
inflation
is
going
to
be
hopefully
controlled,
but
it
will
be
a
gradual
process.
The
continued
economic
uncertainty
and
sort
of
the
prolonged
inflationary
environment
will
likely
contribute
to
a
series
of
very
challenging
decisions.
Around
monetary
policy.
I
All
eyes
are
on
the
fed
in,
and
you
all
saw
the
news
recently
of
their
short-term
rate
hike
that
just
happened.
It
is
likely.
Other
rate
hikes
are
already
on
the
horizon.
The
fed
has
to
prescribe
a
like
a
doctor.
The
fed
is
prescribing
medicine
to
help
the
inflation
in
the
economy.
They
don't
want
to
prescribe
too
much
and
overshoot
and
reduce
inflation.
Inflation
too
much
that
it
causes
an
economic
recession
and
they
also
don't
want
to
undershoot
and
potentially
have
longer
lasting
and
more
painful
inflation.
I
So
it
becomes
a
very
tricky
balancing
act
that
the
federal
economists
are
doing
right
now
and
they
feel
confident
today
they
can
raise
rates
without
causing
it
in
a
recession,
but
there
is
uncertainty.
I
So
if
we
go
forward
into
a
little
bit
of
to
highlight
a
few
big
picture
items
here,
I
think
one
characteristic
about
the
recovery
is
as
you've
known
and
as
as
I've.
As
you
know,
you've
heard
me
say
previously:
it's
been
strong,
but
it's
been
very
uneven.
So
if
we
go
back
and
look
at
the
last
two
years
of
economic
growth
in
different
sectors,
we
still
are
missing
employees
across
many
sectors,
leisure
and
hospitality.
I
Government,
education
and
health
services
in
particular,
still
have
many
fewer
employees
now
than
they
did
two
years
ago.
On
the
other
hand,
some
sectors
have
more
employees
than
they
did
before.
Transportation
and
warehousing
supply
chains
have
responded
by
hiring
in
mass
large
amounts
of
people,
professional
and
business
services.
Retail
services,
financial
services
and
information
all
have
some
slightly
more
people
than
they
did
back
in
2020..
I
So
one
aspect
also
to
consider
and
one
that's
important
as
we
think
about
how
new
mexico
responds
to
as
we
recover
from
inflation
and
as
we
ultimately
go
back
into.
It
is
the
question
of
how
private
sector
employment
behaves
relative
to
public
sector
employment,
and
so
in
this
chart
on
the
right
you
see.
Kind
of
the
dark
blue
line
represents
private
sector
employment.
I
The
light
blue
line
represents
public
sector
employment,
so
in
recessions,
more
people
are
laid
off
in
the
private
sector,
but
they're
also
hired
back
faster
in
the
private
sector
in
the
public
sector,
of
which
new
mexico
has
a
disproportionate
number
of
workers
relative
to
some
states.
That
is
much
more
muted,
so
they
fire
less
often
and
they
hire
more
slowly
and
here
in
new
mexico,
we
actually
ranked
50th
for
unemployment
right
now
out
of
50,
with
an
unemployment
rate
of
5.9
percent
and
we'll
get
into
a
little
bit
of
that.
I
In
a
second
and
so
another
thing
to
think
about
one
reason
that
people
look
to
the
economy
and
say
it
feels
it's
a
very
interesting
economy.
It
feels
strong
in
some
aspects
and
it
feels
not
quite
all
the
way
there.
In
other
aspects,
one
thing
to
consider
is
how
these
two
charts
from
the
federal
reserve
economic
data
center
show
us
on
the
left.
I
The
amount
of
people
quitting
their
jobs
and
the
reason
that
I'm
showing
you
this
we're
at
the
near
we're
near
the
highest
level,
still
that
we've
ever
seen
for
people
quitting
their
jobs
about
three
percent
in
any
given
month
of
people
quit
their
jobs,
that's
a
lot
of
labor
market
turnover
and
when
people
quit
their
jobs,
that
also
provides
agency
for
themselves.
I
It's
a
sign
of
consumer
confidence
in
the
job
market,
but
on
the
other
hand,
if
we
look
at
total
openings
they're,
also
above
11
million
job
openings,
that's
twice
as
high
as
the
amount
of
unemployed
workers,
and
so
when
you
look
at
those
two
numbers,
you
know
there
are
more
twice
as
many
openings
per
unemployed
worker.
Why
do
we
still
have
unemployment?
Because
we
have
unemployment
in
sectors,
we
don't
have
the
right
workers
at
the
right
times
for
the
right
jobs
and
a
lot
of
those
questions
deal
and
build
into
particular
skills.
I
Workers
have
the
salaries
that
are
demanded
on
behalf
of
employers
and
a
lot
of
additional
adjustments,
so
the
job
market
remains
very,
very
strong,
and
if
we
go
over
here,
one
aspect
that
often
isn't
touted
enough-
and
I
want
to
highlight
here-
is
that
since
2016
we've
had
persistently
declining
immigration
to
the
united
states.
One
aspect
about
lower
migration
is
that
immigrants
are
very
responsive
to
economic
conditions.
They
supply
labor,
where
it's
needed
needed
the
most
and
often
has
insulated
us
from
experiencing
labor
shortfalls.
I
I
So,
as
we
look
forward-
and
we
think
about
one
of
the
things
in
everyone's
mind-
is
consumer
prices,
inflation
is
really
high.
We
have
to
blow
off
the
dust
in
economic
and
finance
literature
of
our
old
resources,
to
figure
out
how
different
municipalities
behave
in
response
to
inflation,
because
this
is
the
highest
we've
seen
in
40
years
and
to
give
you
a
sense
of
this.
Where
is
inflation
happening,
and
how
do
we
measure
it?
We
measure
inflation
from
the
from
the
cpi,
the
consumer
price
index.
I
What
this
is
is
a
is
a
representative
basket
of
goods
of
stuff
that
people
might
purchase
in
a
given
period.
It's
not
only
it's
not
wholly
represented
what
we
might
say
purchase
in
santa
fe
or
in
new
mexico,
but
it
is
a
generalized
sense
of
a
us
consumer.
In
the
last
year,
cpi
has
risen,
seven
point
nine
percent,
but
it's
been
uneven.
The
chart
at
right
is
very
hard
to
read
in
small
for
fun
and
I
don't
want
anybody's
training
their
eyes
beyond
this.
I
I
know
it's
a
it's
a
thing:
it's
not
an
eye
test.
I
promise
the
orange
categories
are
all
energy
related,
so
it
shows
you,
the
bigger
the
bigger
the
bar
chart,
the
bigger
the
effect
all
above
30
changes
more
or
less.
On
the
other
side
of
this,
we
have,
of
course,
things
like
food
and
it
looks
like
it
looks
like
oh
well.
We
aren't
experiencing
a
lot
of
inflation
there.
These
are
still
rates
at
between
seven
and
ten
percent,
meats,
poultry,
fish
and
eggs.
A
little
bit
higher.
I
All
of
these
have
direct
effects
on
consumers.
Fuel
is
particularly
nefarious
as
gas
prices
rise,
of
course,
that
increases
transportation
costs
the
cost.
It
costs
us
to
move
things
around
the
country,
which
also
can
affect
things
like
services,
goods,
other
things,
people
buy
or
or
or
enact
with
that
might
have
an
effect
there.
So
so
there's
a
lot
of
sectors
where
we
are
seeing
inflation,
energy
and
vehicles
of
course
reported
some
of
the
highest
increases
and,
of
course,
importantly,
inflation
is
outpacing
wage
growth.
I
In
the
last
jobs
report,
we
were
hoping
for
a
little
bit
better
wage
number.
We
had
about
a
week
growth
of
about
0.1
that
month
and
we
finished
off
at
about
5.1
percent
year
on
year
and
and
that's
that's
a
low,
so
it
means
consumers
are
losing
out
in
the
long
run,
and
I
want
to
acknowledge
food
prices,
particularly
meats
rose
at
accelerated
levels
throughout
2021.
I
These
increases
are
likely
to
slow
down,
but
things
like
labor
shortages
and
field
costs
will
likely
keep
them
higher.
So
that
means
it
hits
the
bottom
dollar
and
it
hits
the
sort
of
the
wallet
of
of
every
new
mexican
and
one
of
the
other
things
to
think
about
is
rising.
I
Energy
costs
here
in
new
mexico,
we're
the
third
biggest
oil
producer
in
the
country
after
texas
and
north
dakota,
the
united
states,
although
we
have,
we
have
made
strides
and
moving
to
renewable
energy,
we
still
consume
about
18
million
barrels
of
oil
every
day
across
the
country,
and
so
oil
is
a
commodity
and
trades
globally
on
on
fundamental
supply
and
demand
constraints.
You'd
hope
that,
because
we
produced
so
much
here
that
it'd
be
cheaper,
but
it
doesn't
really
work
that
way.
I
We
have
to
ship
it
to
be
refined
and
it
will
be
refined
and
set
to
the
markets
that
are
the
biggest
in
new
mexico.
Is
it
one
of
them,
but
oil
prices
can
be
notoriously
difficult
to
predict.
We're
actually
really
bad
at
this
as
a
field,
but
they
are,
they
do
rise
unpredictably
during
geopolitical
conflicts
as
we
solve
fairly
recently.
I
I
What
caused
that
was
the
2008
recession,
commodities
as
well,
such
as
nickel
and
wheat,
also
reached
record
highs
in
march
of
2022,
and
you
know
if
we
spot
forecast
this,
and
one
of
the
things
is
depending
on
the
model
that
we
use
in
sort
of
my
my
input
here
is
to
show
you
how
worthless
we
can
be
confident
at
predicting
oil,
but
we
can
be
really
off.
There's
it's
so
volatile.
There's
such
a
large
spread
that
it's
uncertain.
I
I
think
it's
likely
that
oil
will
be
between
80
and
125
dollars
a
barrel
for
most
of
the
summer.
That's
a
big
swing,
but
it
does
well.
It
helps
state
coffers
through
severance
taxes
and
other
taxes
on
oil.
It
does
hit
consumers
very
harshly
now,
if
we
think
about
new
mexico.
One
thing
to
think
about
is
we
have
a
steady
recovery,
we
shouldn't
be
ashamed
of
it,
but
it's
lagging
in
many
ways
to
the
rest
of
the
country,
and
that
has
to
do
with
the
workforce
dynamics
we
talked
about
earlier.
I
I
During
the
70s,
80s
and
90s
across
the
country
we
saw
increases
in
participation
rates,
we
had
boomers
coming
on
the
market
and
and
we
reached
actually
our
maximum
participation
rate
in
the
country
approximately
20
years
ago,
and
of
course
we
had
women
joining
the
labor
force
in
the
70s,
80s
and
90s,
and
and
we
reached
the
highest
level
still.
I
You
know
you
know
over
two
decades
ago
and
since
then,
what's
happened
is
that
every
recession
we've
had
we've
had
retirements
we've
had
things
we've
had
people
drop
out
of
the
labor
force
and
they
drop
out
for
a
some,
some
of
the
dropouts
drop
out
permanently
and
and
and
ultimately
one
of
the
things
here.
I
In
new
mexico,
we
have
about
26
000
fewer
workers
now
than
we
did
in
january
2020,
and
this
is
driven
by
workforce
retirements,
as
well
as
lagging
availability
of
things
like
child
care,
which
puts
pressure
on
parents,
especially
for
young
children.
Since
august
2021,
new
mexico
added
about
4
000
workers
in
trade
and
transportation,
another
4
000
in
leisure
and
hospitality,
three
thousand
in
professional
business
services.
Government
workers
like
the
rest
of
the
country,
are
lagging.
I
I
Right
now
for
unemployment
rates,
you
notice
that
the
the
lighter
the
color,
the
lower
the
rate,
the
darker
the
red
color,
the
higher
the
unemployment
rate
los
alamos
is,
you
can
very
distinctive
in
its
bright
white
color
having
the
lowest
unemployment
rate
in
new
mexico,
but
here
in
santa
fe
county
right
there
we
are
doing
fairly
well
santa
fe,
as
well
as
bernalillo
counties,
have
some
of
the
better
unemployment
rates
across
the
state
about
4.6
eastern
new
mexico
has
some
of
the
lowest.
I
These
are
very
rural
counties
with
very
high
median
ages
and
they're.
Very
agricultural
and
they've
been
also
doing
well
and
there's
two
graphs
here,
and
I
want
to
point
them
out
very
quickly
just
to
show
you.
This
is
the
unemployment
rate
in
new
mexico
over
time
since
1980
and
we're
all
the
way
there
right
here
on
the
far
right,
and
it
gives
you
a
sense
if
you
look
at
where
we
are
today
versus
the
last
40
years.
I
This
is
a
fairly
good
unemployment
rate
like
the
rest
of
the
country
in
new
mexico,
5.9
percent,
we're
lagging
other
states,
but
we
still
have
some
of
the
lowest
unemployment
rates
we've
seen
and
then
one
a
silver
lining
or
a
part
of
good
news
to
talk
about
is
that
new
unemployment
claims
are
now
back
to
where
they
were
in
three
pandemic
levels.
We
saw
them
shoot
up
right
in
2020
and
they're
back
to
where
we
were
before.
That
is
encouraging.
I
That
shows
the
job
market
is
strong
and
responding
here
in
new
mexico.
Now
this
this
slide
probably
needs
no
introduction.
It
is
the
real
estate
conditions
right
now
across
mexico,
from
the
new
mexico
association
association
of
realtors
and
combined
with
some
other
price
data
from
zillow
always
good
to
maximize
the
sources.
For
today,
looking
at
in
new
mexico
association
of
realtor
data
between
january
2020
and
january
2022.,
the
characteristic
is
everything
has
gotten
a
lot
more
expensive.
The
bottom
line
for
santa
fe
is,
despite
things
getting
more
expensive.
I
Ultimately,
we
expect,
as
prices
go
up,
we
expect
as
as
economic
and
financial
theorists,
that
what
happens
is
more
people
offer
their
houses
for
sale
to
get
those
prices
and
we've
actually
seen
the
opposite
effect,
there's
actually
fewer
active
listings
in
santa
fe
now
than
there
were
two
years
ago.
That
means
that
we
have
an
incredible
amount
of
of
when
houses
are
listed,
they're
sold
the
average
days
on
the
market
are
very
low
across
the
state.
I
The
state
as
a
whole
has
fewer
houses
listed
now
than
they
did
two
years
ago,
and
what
that
does
is
that
reduces
when
we
have
a
lower
supply
and
also
a
continued
demand
powered
by
high
rates?
That
means
prices
are
also
high.
Now,
when
the
fed
raises
rates
over
the
short
run,
although
mortgage
rates
don't
follow
what
the
fed
rates
do
they,
they
do
have
a
good
correspondence
with
the
10-year
bond
yield,
which
is
another
bond
yield
determined
by
market
conditions.
I
We
expect
that
rising
rates
or
pressure
on
rising
rates
in
the
economy
can
take
off
some
of
this
growth
we've
seen
in
real
estate,
but
it
won't
be
immediate
and
zillow
forecasts.
The
country,
but
not
new
mexico,
and
they
still
suggest
pretty
robust,
increases
in
prices
this
year
here
in
santa
fe.
Of
course,
we
dwarf
both
new
mexico,
albuquerque
and
united
states
averages
in
the
average
price
around
the
500
000
figure,
which
is
an
incredible
sum
going
down
to
our
santa
fe
economic
overview.
I
Santa
fe
unemployment
dropped
to
4.6
percent,
that's
good,
it's
significantly
lower
than
other
new
mexico
counties,
not
all
of
them,
but
many
of
them,
especially
in
our
region.
However,
the
labor
force
in
our
local
area
has
stabilized
at
around
sixty
nine
thousand
five
hundred
workers,
or
so
we
have
about
five
thousand
fewer
workers
in
our
county
than
we
did
back
before
the
pandemic.
Some
of
those
are
retirees
who've
left
the
market
for
good.
Some
of
them
are
parents.
I
Other
people
who
might
be
working
temporary
might
have
removed
themselves
temporarily
from
the
job
market
to
try
to
improve
until
they
could
they
could
achieve
child
care,
for
instance,
to
give
you
a
sense.
One
thing
that's
important
to
note,
especially
looking
at
santa
fe
unemployment
between
2019
and
2020,
which
is
the
most
recent
year
for
which
we
have
complete
data.
I
The
gdp
in
new
mexico
contracted
about
3.4
percent
during,
of
course,
the
pandemic,
but
in
santa
fe
in
our
metropolitan
area
contracted
about
six
percent
and
that's
driven
because
we
have,
we
are
a
tourist-driven
economy.
We
have
a
lot
of
exposure
to
leisure
and
hospitality.
The
nature
of
the
pandemic
was
particularly
harmful,
but
since
then
the
growth
that
we've
seen
has
been
robust
and
economic
activity
has
placed
this
up
back
to
a
higher
level
than
where
we
were
before.
Construction
and
retail
sales
remain
really
impressively
strong.
I
One
thing
to
note,
especially
as
we
think
about
any
economic
data,
is
to
consider
the
demographics
and
looking
at
a
few
things,
and
this
chart
was,
is
the
delightfully
rainbow
colored
chart?
On
the
left
hand,
side?
This
is
the
percentage
of
households
in
certain
income
brackets.
I
The
dark
blue
represents
incomes
above
200
000
and
all
the
way
down
to
the
dark
red
which
is
under
ten
thousand,
and,
as
you
can
see
you
know,
santa
fe
is
what
makes
it
interesting
particular
to
relative
communities
in
new
mexico
as
well
as
the
rest,
as
well
as
both
neighboring
counties
and
neighboring
communities
is
that
we
have
a
great
disparity
and,
and
that
need
not
be
said,
but
we
have
some
of
the
highest
levels
of
high
income
people,
but
also
significant
significant
levels
of
low-income
people
as
well,
and
this
inequality
is
pervasive.
I
If
we
look
at
places
in
santa
fe
county
itself,
looking
at
santa
fe
county,
looking
at
the
city
relative
to
communities
like
espanola
or
el
dorado
at
santa
fe
or
la
cienega
or
agua,
fria,
they're,
all
kind
of
within
the
same
boundaries.
La
cienega
has
a
very
middle
class
profile,
a
lot
of
incomes
that
fall
in
the
middle
espanola,
much
more
on
the
lower
incomes
in
santa
fe,
much
more
on
the
higher
incomes.
I
Nothing
that
you
may
not
already
know,
but
it
does
factor
into
sort
of
our
economic
policy
and
how
we
look
at
the
analysis
of
the
data
going
back
to
one
of
the
things
that
is
a
source
of
confidence
is
building
permits,
have
remained
steady
and
consistent
and
also
at
a
high
level
higher
than
we've
seen
since,
basically
before
2019,
and
this
has
been
good
and
it
continues
right
into
2022..
I
So
as
we
look
towards
santa
fe,
specifically,
we
make
recommendations
about
what's
going
to
happen
over
the
next
year.
The
key
is
is
that
we
expect
growth
over
the
short
term,
but
there's
going
to
be
uncertainty
in
the
long
term,
particularly
as
the
fed
raises
rates
and
how
it
raises
rates
becomes
very
important,
and
those
monetary
policy
decisions
become
very
important.
However,
regarding
revenues
for
the
city,
gross
receipts,
tax
and
lodgers
tax
revenues
are
expected
to
remain
robust
grt
may
likely
reach
130
million
dollars
or
more
this
year.
I
Spending
has
been
robust
across
the
economy,
and
that
has
been
significant
now
with
economic
recovery.
Continuing,
but
also
slowing
grt
is,
interestingly,
bolstered
by
higher
prices
and
goods.
So
I'm
high
inflation
and
commodity
prices,
on
the
other
hand,
offset
some
of
these
gains
by
making
potentially
higher
municipal
expenses.
So
everything
from
the
construction
equipment
to
the
goods
to
the
fuel
often
have
to
be
allotted
for
in
in
very
specific
ways,
so
expect
rising
rates
and
slowing
economic
growth.
I
As
the
federal
reserve
steps
in
to
control
inflation,
they
have
a
nine
trillion
dollar
balance
sheet,
a
lot
of
which
they
hold
a
lot
of
bonds
and
mortgage-backed
securities
and
other
bonds
and
they're
going
to
unwind
some
of
those
as
well
most
likely
and
although
the
effect
when
we
study
this
the
effects
of
unwinding,
say
the
fed's
selling
the
stuff
that
it
bought
to
help
support
the
market
isn't
as
big
as
rate
increases.
It
is
still
significant.
I
Global
geopolitical
unrest
are,
is
going
to
continue
with
supply
chain
issues
and
that
affects
firms
here
in
santa
fe
expect
uneven
sector-based
inflation
to
continue
and
hopefully
gradually
improve.
High
energy
costs
are
going
to
create
additional
challenges
for
residents
and
firms.
In
new
mexico
we
drive
more
than
the
average
american
and
given
the
rural
character
of
our
state,
there
is
a
high
preponderance.
A
high
percentage
of
our
incomes
go
to
gas
prices.
I
The
labor
market
is
strong,
but
finding
qualified
workers
continues
to
be
challenging,
especially
in
customer
service,
focused
industries
and
there's
not
really
a
light
at
the
end
of
this
tunnel
right
now
for
this,
but
it
will
be
a
gradual
adjustment,
as
firms
and
employees
alike
get
used
to
sort
of
the
different
labor
market
conditions.
So,
overall,
that
presents
the
context
of
my
update
and
I
want
to
open
it
to
any
questions
that
you
all
might
have.
I'm
happy
to
answer
anything
that
that's
on
your
mind,.
A
A
D
I
Thank
you
so
much
councillor
rivera
on
this,
so
so
the
most
recent
data
and
I
like
to
use
there
is
we
can
grab
the
data
for
real
estate
is
very
choppy.
We
can
examine
because,
for
instance,
an
individual
house
sale
that
was
very
very
expensive
can
throw
off
some
of
our
averages,
but
our
medians
to
your
point.
The
data
was
pulled
from
the
most
recent
new
mexico
association
of
realtors
report,
which
was
good
for
january
of
2022
and
that's
where
those
numbers
come
from.
I
In
addition,
the
zillow
numbers
are
refreshed
and
they
incorporate
city
and
some
county
information,
and
so
there's
some
overlap
with
what
you
find
in
the
santa
fe
new
mexican
and
the
data
is
consistent,
but
specifics
and
the
houses
that
they
include
may
be
different.
So
what
appears
on
zillow
is
not
necessarily
thorough
and
things
that
might
be
most
authoritative,
like
the
new
mexico
association
of
realtors.
I
What's
interesting
about
that
data,
is
it
provides
greater
insight
into
things
like
the
amount
of
days
an
average
house
is,
is
offered
for
sale,
the
inventory
in
a
whole
slew
of
additional
data,
and
they
produce
this
information
monthly.
I
So
we'll
have
a
february
update
fairly
shortly
that
will
provide
additional
data
but
consistently
there
is
a
match
within
our
data
if
we
look
at
regardless
of
whether
we
look
at
zillow
new
mexico
associated
with
realtors
or
the
source,
specifically
from
the
santa
fe
new
mexican,
we're
looking
at
increases
here
in
santa
fe
that
have
met
or
often
exceeded
national
averages,
that's
consistent
in
many
cities
across
the
west,
uniquely,
so
that's
something
that
we're
seeing
very
consistently
very
good.
Thank
you,
dr
white.
A
Mute
sorry,
thank
you.
Anybody
else
from
the
committee
with
a
question.
A
I
don't
see
anybody,
dr
white.
Thank
you
very
much
for
coming.
You
cover
quite
a
bit
in
a
very
short
period
of
time
at
a
quite
the
clip.
So
thank
you
thank
you
for
being
here
and
and
giving
us
that
that
overview,
it's
very
helpful
to
kind
of
understand
where
we
are
and
particularly
as
we
move
into
april,
where
we
will
be
considering
the
budget
for
next
fiscal
year.
Councillor
cassette,
you
have
raised
your
hand.
E
I
Of
course,
thank
you
counselor
cassette.
Thank
you,
counselor
romero
worth
as
well.
I
will
send
over
the
powerpoint.
Is
I
sent
it
over
to
director
mccoy
and
and
it's
free
to
access
at
any
time,
and
if
I
could
be
supportive
with
any
additional
information,
never
hesitate
to
reach
out,
and
it's
so
much
I
get
so
excited.
I
I
just
talk
too
quickly,
but
I'm
so
appreciative
of
your
time.
A
No,
I
I
I
wasn't
being
critical.
I
I
you
cover
a
lot
of
ground
and
give
us
very
high
level
of
information
very
quickly,
so
much
appreciated.
Thank
you
for
being
here
all
righty
from
there
going
back
to
my
agenda.
Oh,
I
know
what
we're
doing
next,
I
don't
have
to
look
at
my
agenda.
Mary
mccoy
director
of
finance
is
here
to
give
us
the
update
on
the
audit
and
we
also.
Oh,
we
have
the
whole
team
here.
Stephanie
and
ricky
ricky.
Tell
me
how
you
pronounce
your
last
name.
A
All
right
perfect,
I
wasn't
sure
if
it
was
more
of
a
b
or
a
v,
but
terrific,
so
mary
I'll.
H
Let
you
take
it
away.
Thank
you,
madam
chair.
I'm
gonna
share
the
screen
with
you
all
tonight.
We
do
have
an
update
as
we've
reported
previously
fund
balance
and
net
position
are
a
hundred
percent
complete.
What
we
have
on
cue
for
looking
forward
to
from
fy21
into
fy22
is,
after
march
31st,
when
we
submit
the
trial
balance
to
our
auditors
for
fy21.
H
H
we're
very
grateful
to
the
governing
body
for
approving
a
budget
adjustment
during
the
last
council
committee
cycle
a
few
weeks
ago
that
did
allocate
additional
funding
for
the
continuation
of
these
services,
the
accounting
services
that
we
have
contracted
for
through
the
end
of
this
fiscal
year.
So
through
june
30th
on
your
agenda
this
evening
you
have
a
few
of
those
contracts
that
are
now
amending
the
original
contracts
that
we
had
with
some
of
our
cpa
partners.
H
Very
similarly,
with
enter
funds,
it's
100
complete
has
been,
but
as
of
the
end
of
this
month,
moving
into
the
spring,
we
will
be
beginning
our
analysis
and
our
review
of
fiscal
year
22
data
for
inner
funds.
We
can
say
the
same
thing
with
capital
assets
as
well.
This
has
been
100
complete
for
a
few
weeks
now,
but
the
review
will
begin
in
april
if
those
contracts
are
approved
by
the
governing
body
in
the
next
few
weeks.
That
review
will
begin
in
april
as
well
sifa.
H
We
have
very
good
news
to
share
that.
Last
week
we
did
submit
on
march
16th
the
schedule
of
expenditures
of
federal
awards
to
our
auditors.
We've
had
the
first
meeting
with
the
cla
team
to
share
the
cfo
with
them,
and
we
have
already
begun
the
audit
on
that
on
our
federal
awards,
they've
determined
what
the
major
programs
are,
and
we
have
ricky
and
his
team
have
begun
to
provide
information
to
the
auditors
as
they
start
their
review
of
our
federal
awards.
H
The
last
three
areas
deferred
inflows
and
outflows.
This
is
99
complete.
We
do
expect
that
to
complete
this
this
week.
To
take
this,
to
100,
complete
and
again
with
this
as
soon
as
we
finish,
the
final
quality
control
review
and
sign
off
of
this
area,
we
will
then
move
on
in
april
to
to
fy
22.
H
same
with
liabilities.
We
are
up
to
91
complete.
We
expect
this
to
be
complete
by
the
end
of
the
week.
Once
that
final
quality
control
and
review
is
completed,
we
will
move
on
to
fy
22
items
same
with
our
assets.
H
We
are
in
the
midst
we're
about
90,
complete
with
reconciliations
of
our
two
major
cash
accounts.
We
will
continue
to
do
the
final
quality
control
review
and
post
these
entries
into
the
general
ledger
in
munis,
which
is
the
official
system
of
of
record,
and
then
after
that
is
complete
and
we've
submitted
the
trial
balance
on
the
31st
to
our
auditors.
H
We
will
begin
this
review
for
fy22,
so
just
a
recap
of
where
we're
at
we're
rounding
out
the
march
a
work
that
we
had
set
out
to
do
earlier
and
report
on
every
week.
We
have
already
started
the
audit
of
the
federal
awards
and
we
will
begin
the
audit
at
the
beginning
of
april
with
cla
of
of
the
rest
of
the
financials,
and
we
are
targeting
the
end
of
june
to
be
completed
and
submit
the
audit
to
the
state
auditor's
office.
H
So
with
that
recap,
we
are
winding
down
our
our
audit
preparation
portion
for
fy
21
to
move
on
in
the
spring
and
april
through
june
to
the
external
audit
portion,
so
which
is
very
much
a
collaborative
process.
We
were
reviewing
with
the
mayor
and
the
city
manager
today
the
progress
that
we've
made
and
what
the
expectations
will
be
for
the
next
few
months
in
terms
of
us
providing
any
of
the
documents
or
any
of
the
information
that
our
auditors
are
requesting
in
a
timely
manner.
H
We've
talked
about
setting
the
bar
pretty
high
to
have
a
realistic,
yet
achievable
turnaround
time
of
48
hours
for
our
city
staff
across
all
departments,
to
be
responsive
to
the
auditors
to
make
sure
that
we
are
continuing
to
in
this
collaborative
process
to
keep
in
mind
the
timeline
that
we've
set
out
for
us
with
that.
Madam
chair
I'll
stand
for
any
questions.
A
Director
mccoy,
I
just
you
know,
please
tell
your
team.
Thank
you
for
this
work.
I
I
know
it's
a
big
lift.
It's
super
important.
A
I
I
really
appreciate
that
we're
that
we're
really
kind
of
moving
through
the
to-do
list-
and
it
seems
like
it's
happening
in
a
very
timely
manner
and
just
want
to
stress
again
how
important
it
is
and
and
thank
everybody
for
taking
it
seriously
and
and
being
cooperative
and-
and
you
know,
helping
us
get
this
done
because
we
just
have
to
do
it
so
really.
Thank
you
all
for
the
work
and
please
thank
everybody.
Who's
who's.
Moving
along
with
this
way.
Well,
thank
you,
madam
chair.
A
A
The
first
item
pulled
was
counselor
cassette
item
a
let
me
just
get
to
that,
which
is
a
request
for
approval
of
professional
services,
agreement
with
weston
solutions
inc
in
the
total
amount
of
five
hundred
sixty
eight
thousand
six
hundred
fifty
two
dollars
and
ninety
two
cents,
including
new
mexico,
gross
receipts
to
provide
engineering
design
services
to
cip
project
number,
eight,
nine,
nine,
a
a
seika
trail
extension
project
and
we
have
members
of
our
staff
from
public
works
here
tonight
and
councillor
cassid.
Did
you
I'll
just
hand
it
over
to
you?
Thank.
E
You
so
much
madam
chair,
and
thank
you
ramela
and
regina
for
being
with
us.
In
general,
I
was
just
hoping
to
get
a
little
bit
more
information
about
green
infrastructure.
I'm
really
excited
to
learn
more
about
this
and
that
this
is
something
that
we
are
incorporating
into
our
new
trail
system,
so
romela.
I
believe
that
you
would
be
the
individual
to
provide
a
bit
more
information
about
what
this
look
looks
like
and
what
this
means
in
terms
of
sustainability
goals
and
and
the
experience
of
the
trail
for
our
community.
J
Thank
you,
madam
chair,
and
thank
you
councilwoman
cassette.
So,
instead
of
using
gray
infrastructure
to
design
this
trail,
we
will
use
green
infrastructure,
which
is
based
on
principle
of
protecting
and
enhancing
nature
and
the
natural
processes.
J
So,
for
example,
for
this
project,
maybe
instead
of
using
asphalt
for
trail
for
constructing
the
trail,
maybe
we
can
use
a
gravel
bay,
gravel
paved
system
or
if
we
use
asphalt,
we
can
paint
the
asphalt
with
gray
emulsion
material,
to
increase
the
solar,
reflect
and
reflectance
index
of
asphalt
to
reduce
the
health,
the
heat
island
effect
and
to
to
decrease
the
water
pollution
from
and
increase
the
storm
water
drainage
capability
of
of
our
systems.
J
J
E
Wonderful.
Thank
you
for
that
explanation
and
I'm
really
excited
that.
We
are
using
green
infrastructure
for
this
project
and
I'm
curious
when
you
know
when
we
do
have
to
do
maintenance
on
some
of
our
other
trails
or
hard
surfaces.
Is
it
possible
to
kind
of
retrofit
things
in
green
infrastructure
that
we've
previously
done
grey
infrastructure
for
to
and
to
an
extent,
or
does
it
have
to
be
a
new
build.
J
K
Thank
you.
Thank
you
so
much
for
mela,
madam
chair
and
counselor
cassette.
It
is
true,
generally,
you
want
to
build
it
in
the
beginning,
because
tearing
up
you'd
basically
be
tearing
up
and
rebuilding
the
whole
trail,
but
there
are
some
exceptions
to
that.
For
instance,
you
might
have
noticed
that
along
east
alameda
there's
been
some
green
infrastructure,
storm
water
management
rocks
and
going
in
there
to
manage
the
water
into
the
river.
There
was
that
area
with
poor
drainage
and
one
of
our
local.
K
You
know
really
great
storm
water
and
sort
of
landscape.
Architects
has
designed
a
new
project,
that's
going
in
there
and
you
know,
and
then,
to
a
small
extent,
we're
going
to
be
doing
some
work
along
surreals
with
dot
where
we're
redoing
that
segment
between
st
mike's
and
st
francis
and
now
we're
looking
at
really
enhancing
the
stormwater
infrastructure
using
some
green
infrastructure
in
azbal
park
and
other
kinds
of
ideas
like
that.
K
So
in
some
cases
you
can
go
back
later
and
make
it
better,
but
certainly
the
asphalt
you
probably
want
to
get
that
right,
the
first
time
so
it-
and
it's
really
great
to
try
these
things.
That
romela
mentioned
on
trails
because
we're
a
little
hesitant
to
try
them
on
the
road.
We
want
to
see
their
durability.
The
maintainability
can
plow
them.
How
do
they
respond
in
the
snow?
And
so
it's
great
you
know
we're
excited
to
get
a
chance.
K
We
had
actually
proposed
that
the
bike
trail
along
sink
cerrios
might
be
permeable
and
d.o.t
was
just
they
were.
We
were
all
we
didn't
have
enough
experience,
and
so
romello
will
try
it
on
on
a
on
a
trail
and
then
we'll
have
more
confidence
going
forward
to
implement
it.
In
other
places,.
E
Wonderful,
thank
you
well,
thanks
for
for
moving
forward
with
looking
for
where
you
can
put
this
in
and
where
you
can
experiment
with
it,
and
hopefully
we'll
be
able
to
provide
some
data
that
we
can
expand
it
to
some
other
areas.
I
did
also
quick
question.
We
have
already
applied
for
federal
funding
for
construction,
correct.
J
At
this
moment,
but
it
will,
we
will
have
enough
time,
I
believe,
to
apply
for
other
funding.
If
we
don't
get
this,
we
if
we
don't
get
funding
from
tap
or
the
transportation
alternative
program.
E
Okay,
wonderful,
well,
those
are
all
my
questions
and
thank
you
again
for
experimenting
with
this
and
moving
forward
with.
You
know
how
we
try
to
be
a
greener
city
in
all
aspects.
I
greatly
appreciate
it
and
I
look
forward
to
hearing
updates
on
this
project,
and
I
have
no
further
questions
if
nobody
else
does
I'll
go
ahead
and
move
for
approval.
Oh.
A
D
Thank
you
thank
you,
romela
who
just
disappeared,
but
thank
you
for
getting
this
project
moving.
I
don't
know
she
can
hear.
Maybe
oh
there
you
are.
I
just
wanted
to
thank
you,
for
you
know
keeping
on
top
of
this
and
moving
it
forward.
It's
important
for
connectivity
from
district
three
into
many
parts
of
the
rest
of
the
trail
system.
So
thank
you
for
that.
My
question
was:
does
weston
solutions
have
an
updated
business
license?
There's
expired
on
march
5th.
D
I
know
that's
not
too
far
away,
but
just
wanted
to
make
sure
that
they're
in
compliance
don't
want
any
hiccups
when
this
gets
to
the
governing
body.
J
D
A
A
Motion
improved
that
motion
passes.
We
are
on
then
to
item
e,
also
pulled
by
councillor
cassette:
a
request
for
approval
of
services,
agreement
in
the
total
amount,
391
485
dollars
and
five
cents,
including
new
mexico,
grt
for
santa
fe,
railyard
park,
playground,
rehabilitation
and
banco
replacement
with
exerplay
inc
via
ces,
and
we
have
therese
martinez
here,
correct
project
administrator
and
sam
burnett
and
regina
wheeler
wow
the
whole
team
all
right
over
to
you
councillor
cassette.
E
Thank
you
all
so
much
for
being
here,
and
I
did
just
want
to
thank
you
so
much
for
for
the
updates
to
this
park
and
to
the
slides
in
particular.
I
we
all
know
I
have
a
child
and
every
time
my
child
runs
up
those
slides.
I
get
a
little
bit
of
a
heart
attack,
so
I'm
really
looking
forward
to
you
updating
these.
I
did
want
to
ask
a
bit
about
so.
It
looks
like
this
will
be
closed
from.
E
I
think
teresa.
You
emailed
me
that
there's
going
to
be
an
update
for
the
timeline,
so
it'll
be
may
2022
until
june
2023,
and
can
you
just
give
a
little
bit
more
information
about
what
part
of
the
park
is
going
to
be
closed
because
I
know
with
summer
coming
up
there's
a
lot
that
happens
at
the
rail
yard
and
so
people
may
be
concerned
about
those
activities
still
happening.
L
Yes,
chairwoman,
romero,
wirth
and
councillor
cassette.
Yes,
we
are
going
to
be
closing
just
a
section
of
the
park
and
playground
area,
and
that
is
mainly
where
the
slides
are
where
the
tunnel
is
and
the
climbing
wall
that's
in
behind
the
slides
hill
and
all
of
that
will
be
enclosed
with
fencing.
L
It
will
only
be
that
area
and
then
individually,
when
we
replace
the
bonco
benches
with
our
new,
concrete
precast
benches
areas
of
the
pathways
will
be
closed,
but
the
rest
of
the
park
will
remain
open,
and
that
includes
the
sand
lot
and
the
netting
and
the
climb
netting.
All
of
those
will
still
remain
open.
So
the
other
areas
will
not
be
affected
by
this.
E
Wonderful,
thank
you
so
much.
I
I
appreciate
you
guys
really
minimizing
how
much
is
is
closed
off
and
I
know
in
summer
that
sand
play
is
something
that's
really
very
popular,
so
I'm
glad
that
we'll
still
be
there,
and
I
know
that
that
other
santa
fe
parents,
I've
heard
a
lot
of
conversation
about
about
this
playground
and
about
the
slides
and
so
on
behalf
of
all
of
them.
I
want
to
thank
you
all
as
well
for
your
work
and
getting
this
replaced
and
moving
this
forward.
A
A
Thank
you
motion
all
right.
That
item
passes
we
are
now
on
to
item.
I
request
for
the
approval
of
a
memorandum
of
of
agreement
for
fy
22
through
26
for
santa
fe
community
college
scholarships
for
area
veterans
and
their
spouses,
children
and
grandchildren
between
the
city
of
santa
fe
veterans,
advisory
board
and
the
santa
fe
community
college
foundation
for
the
total
amount
of
72
thousand
dollars.
We
have
julie
sanchez
here
and
councillor
lindell.
I
believe
you
pulled
this
item.
F
Has
this
money
in
the
past,
have
we
been
able
to
or
perhaps
not
us,
but
the
program
itself?
Have
they
been
able
to
distribute
all
the
monies
have
we
have?
We
had
application
and
been
able
to
distribute
all
the
monies
for
this
program.
M
Chair
councillor
lindell
for
this
particular
program,
we
have
funded
it.
I
believe,
for
two
years
and
in
those
two
years
just
about
all
of
the
funding
has
been
expended.
There's
about
seven
ish
thousand
dollars
that
need
to
be
expended
in
this
current
fiscal
year
gains
from
previous
funding
great.
F
And
is
the
money
strictly
for
tuition.
M
It
would
cover
tuition
first,
if
that's
something
that
has
not
been
paid
to
the
community
college
and
then
secondary,
would
go
to
books
and
then,
whatever
is
left
over
would
be
allocated
directly
to
the
student
to
pay
for
whatever
expenses
they
have.
Okay,.
F
I
sure
hope
that
we
can.
I
looked
at
some
of
the
qualifiers
and
it
it
seems
like
it's
a
little
complicated
for
somebody
to
get
the
money
and
there's
there's
a
a
lot
of
qualification
for
it.
I'm
really
glad
to
hear
that
we've
been
pretty
much
able
to
distribute
all
the
monies.
It
means
the
program
is
working
and
I'll
go
ahead
and
make
a
motion
to
approve.
Thank
you
for
being
here
julie.
Second,.
A
D
Thank
you,
madam
chair
julie,
now
that
the
state
is
really
providing
a
free
college
education
for
I
guess
it
would
be
probably
children
and
grandchildren
that
would
be
affected
by
this.
Does
that
mean
that
more
money?
D
Well
first
does
does
that
include
veterans
as
well
or
other
people
as
well
under
the
new
program.
M
So,
madam
chair
councillor
rivera
this
would
cover
both
the
veteran
and
their
children
and
grandchildren.
M
So
madame
chair,
counselor
rivera
with
this
particular
funding,
it's
only
for
veterans,
children
and
grandchildren,
and
so
whatever
the
college
scholarship
doesn't
cover.
This
funding
would
cover
whatever
other
needs
exist,
for
those
families.
A
We
have
manuel
gonzalez
here
and
councilor
lindell.
This
is
your
item.
F
Thank
you,
chair,
hello,
mr
gonzalez,
thank
you
for
being
here
I'll,
be
quick
with
this.
I
I'm
just
trying
to
determine.
I
was
a
little
bit
unclear
if
you
could
clarify
this
is
cover
service
for
all
of
our
printers
and
all
the
supplies
of
our
printers.
N
Madam
chair
council
adele,
this
covers
125
network
printers
scanners
and
copiers,
and
it
covers
all
consumables,
which
is
toner
and
rollers.
F
F
Okay,
but
it
does
cover
what
what.
N
F
I
mean
it
seems
like
the
truth
of
the
matter
is,
is
some
of
us?
I
know
counselor
via
real,
certainly
remembers
that
we
would
on
occasion
in
the
past
have
packets
that
were
no
lie.
Several
thousand
pages
they
were
ridiculously
huge
and
going
to
electronic,
I
think,
has
made
everybody
feel
pretty
good.
I'm
just
wondering.
Are
we
continuing
to
decrease
and
decrease
and
decrease
the
amount
of
printing
that
we're
doing.
N
N
N
It
it
covers
any
new
printers
we
bring
on
or
any
printers
we
downsize
to.
I
know-
and
I
I've
mentioned
this
to
the
mayor
and
the
city
manager.
We
have
large
printers
that
could
be
doing
the
work
of
small
printers
we're
using
dump
trucks.
What
for
a
wheelbarrow
can
do,
but
we
really
can't
get
that
data
until
we
get
back
into
normal
in
work
on
site,
and
then
we
can
pull
that
data.
So,
yes,
we
do
know
we
could
downsize.
N
We
want
to
downsize,
but
we
can't
really
get
that
data
until
we're
back
on
site.
So
do
we
have
to
be
committed
for
six
years?
The
six
years
was
the
best
agreement.
We
could
negotiate
with
this
vendor
for
six
years
were
able
to
get
the
consumables
all
service
calls,
but
we
could
always
amend
the
contract
change.
The
term
change
the
amount
change,
the
amount
of
equipment
on
this
contract.
F
F
A
D
K
A
You
we
have
one
more
item:
item
n
request
for
approval
of
amendment
number
one
to
contract
number;
three:
two:
zero:
three:
zero;
four
one
with
jaramillo
accounting
group;
to
increase
compensation
from
two
hundred;
sixteen
thousand
eight
hundred;
seventy
five
dollars
to
three
hundred
seven
thousand
dollars;
and
fourteen
three
hundred
three
hundred
seven
thousand
and
fourteen
dollars,
including
new
mexico
gross
receipts.
A
We
have
ricky
behrano
with
us
on
this
item.
F
Thank
thank
you
chair,
mr
bejarano.
I
just
wanted
a
little
exclamation
of.
Is
this
increase
due
to
increasing
the
longevity
of
the
contract,
increasing
the
workload
of
it
just
give
us
a
super
brief
explanation
of
what
this
increase
covers
and
why
we
needed
it.
O
Yes,
madam
chair
counselor
lindell,
this
is
the
answer
to
both
your
questions
is
yes,
it'll
extend
the
contract
period
to
get
us
to
june
30th,
and
also
it
will
increase
the
scope
of
work
in
order
for
us
to
continue
working
beyond
march
31st.
The
reason
for
that
is
both
if
there's
any.
If
there
are
any
loose
ends
on
the
fiscal
year,
21
audit,
then
we
can
cover
those
and
we
have
enough
support
to
cover
those.
F
Great
the
only
thing
that
the
the
only
comment
I
would
make
on
it
after
looking
through
the
rates
is:
let's
not
have
them,
do
an
overtime
and
holiday
work
that
400
and
some
dollar
an
hour
figure
is
staggering.
F
So
let's
tell
them
to
be
sure
to
take
off
weekends
and
holidays
and
maybe
whatever
it
takes.
But
those
are
staggering
numbers,
but.
O
Lindell,
when
you're
having
been
in
public
accounting
and
one
of
the
reasons
I'm
no
longer
in
public
accounting,
is
you
work
and
work
and
work?
There
is
no
overtime,
whether
it's
weekends,
holidays
and
whatnot.
The
best
you
can
hope
for
is
that
potentially
there'd
be
a
bonus
on
the
back
end,
but
those
are
rare
and
and
far
between.
O
O
And
they
they
also
currently
what's
been
set
up
is
a
spreadsheet
that
shows
the
work
that
they've
actually
been
doing,
which
accounts
they've
been
working
on
and
what
processes
they've
they've
had
to
go
through
to
to
justify
the
fees.
A
We
have
a
motion
and
a
second
and
councilwoman
vrl.
You
also
pulled
this
item.
G
G
O
I'm
madam
chair
counselor
via
real,
that's
a
very
good
question
and
the
answer
is
yes:
there
are
some
items
that
we
weren't,
anticipating,
as
there
always
are
with
this
type
of
work.
It's
both
cleanup
work
and
catch-up
work.
The
other
thing
is
we
want,
because
these
four
contractors
are
experienced
in
what
they've
been
doing
for
21.
We
want
them
to
roll
into
22,
because
at
this
point
in
time,
we're
actually
a
little
behind
on
22
and
getting
prepared
for
that.
O
G
O
O
G
Okay,
so
the
other
question,
I
was
that's
hard
for
to
figure
out
what
everyone
is
doing,
because
most
of
the
scope
of
work
for
each
of
these
contractors
is
almost
identical.
J
H
H
H
I
can
go
ahead
and
speak
to
the
question
about
cut
and
paste,
so
we
did
do
an
rfp
in
the
fall
to
and
we
did
a
multi-source
multi-award
rfp
where
we
did
select
these
vendors.
So
I
think
it's
really
important
to
understand
that
you
know
the
their
origin
was
based
off
of
the
same
scope
of
work
that
was
included
in
that
rfp
and
then,
mr
pejerano,
if
you
can
speak
to
the
work
that
has
been
done
or
will
be
done
by
these
contractors.
H
O
O
So
the
the
contracts
are
written
in
such
a
way
that
we
can
assign
whoever's
done
with
this
piece
can
go
on
to
the
next
piece
or
help
another
firm
with
the
other
piece,
so
they're
intentionally
broad,
but
we
we
do,
as
I
mentioned
before,
we
do
when
they
bill.
We
know
exactly
what
they've
done
and
what
part
of
the
balance
sheet
or
the
income
statement
they've
been
working
on.
G
O
Major
contractors,
madam
chair
councilory,
ariel,
yes,
that's
exactly
it.
We
have
ms
woodruff
coordinating
coordinating
contractors,
I'm
more
on
the
city
employee
side,
but
we
also
have
redw,
has
essentially
become
the
lead
contractor,
so
everything's
uploaded
into
their
system.
Culture
link
and
all
all
four
contractors
load
into
the
same
place.
So
they're
not
we're
not
having
duplicative
work
and
we're
not
having
contractors
trip
over
each
other.
That's
essentially
miss
woodruff's
role
to
coordinate
and
ensure
that
that
doesn't
happen,
and
it's
not
happening
we're
very
careful.
O
We
also
five
o'clock
every
day,
ms
woodruff
and
I
touch
base
to
find
out
who's
doing
what
what
we've?
If
we've
had
discussions
with
the
various
contractors?
What
did
they
discuss
with
you?
What
did
you
hear
from
this
one?
What
did
you
hear
from
that
one?
And
it
is
a
very
coordinated
effort
and
again
we're
we're
watching
those
hours
very
closely.
G
Great
good
to
hear,
and
then
last
I
was
curious
if
these
contractors
are
filling
the
gap
for
what
are
our
current
staff
vacancies
and
if
that's
the
case
are,
is
there
a
plan
then
for
the
contractors
that
we'd
eventually
phase
them
out
so
that
we
actually
can
have
staff
doing
the
job
of
what
the
contractors
are
currently
viewing?.
O
Madam
chair
councillor,
viara,
that
is
exactly
what
we're
working
toward
there's
such
a
paucity,
however,
of
accountants.
Right
now,
it's
I
just
mentioned
to
someone
or
to
the
mayor
and
the
city
manager
this
morning
that
in
almost
44
years
I've
never
seen
it
this
bad
to
try
to
hire
accountants
they're
either
at
los
alamos
kirkland
sandia.
O
They
have
very
attractive,
very,
very
attractive
offers,
if
they're
good
at
what
they
do,
they're
at
one
of
those
locations.
So
it's
the
paucity
is
as
intense
as
I've
ever
seen,
and
I'm
an
old
man
now
so
I've
seen
seen
it
come
and
go
the
last
time
I
saw
it.
This
bad
was
in
the
mid
80s,
for
whatever
reason
we
just
couldn't
find
accountants.
So
it
worked
to
my
benefit
because
I
was
one
of
the
accounts
available.
F
O
It
there
is
a
high
positive
we're
looking
we're
examining
what
we
could
possibly
do
in
today's
environment
and
today's
economy
to
encourage
people
either
into
the
accounting
field
and
especially
with
us,
through
internships
or
even
temp
services
trying
to
bring
people
in
to
the
profession.
There's
just
I've
asked.
Colleagues,
do
you
know
of
anybody?
Looking
one
very
flatly
told
me
no,
and
if
I
did,
I
sure,
wouldn't
tell
you
I'd,
be
scooping
them
up
myself.
O
So
that's
that's
how
intense
it
is
in
government
right
now.
We've
got
we're
competing
with
the
state
of
new
mexico
with
all
the
labs
with
sandia
kirtland,
los
alamos
and
the
colleges.
O
Sure,
if
I
may,
madam
chair
and
counselor.
O
Most
of
our
retirees
and
accounting
are
from
para
origin
or
entities
that
are
para,
and
if
they
come
to
work
for
us
they
can.
They
must
suspend
their
pair
and
work
straight
out
with
no
benefit
or
no
additional
augmentation
of
the
retirement.
When
I
was
at
northern
new
mexico
college,
it
was
a
field
day
for
me
because
I
was
hiring
them
because
northern
is
erb,
so
they
could
work,
not
pay
erb
and
continue
their
para
retirement,
and
it
was
great
I
I
was
able
to
fill
those.
I
think.
G
G
Thanks
for
explaining
the
nuances
to
us,
there's
more
to
it
than
that,
so
thank
you
so
much
mr
vegeta
and
that's
those
are
all
the
questions
I
have.
Thank
you.
H
Madam
chair
counselor
via
rail,
yes,
counselor
lindell,
yes,
councillor
rivera,
yes,
councillor
cassette.
B
A
Right,
I
believe
that,
oh
I
just
kicked
myself
out
of
my
agenda
hold
on
that
ends
the
consent
agenda.
H
H
F
H
We
are
very,
very
much
on
track
to
continue
our
positive
grt
growth,
which
we
will
be
documenting,
as
we
do
every
month
in
a
detailed
memo
highlighting
the
different
industries,
we're
continuing
to
see
the
trends
that
we've
seen
in
the
past.
H
We
large
we're
seeing
a
rebound
in
retail,
which
we're
largely
attributing
to
closing
of
the
loophole
for
the
internet
sales
tax.
That
was
done-
and
this
is
the
first
year
we're
seeing
of
that.
So
as
mr
or
dr
white
mentioned
in
the
beginning,
our
of
our
presentation,
gross
receipts
tax
this
year
is
set
to
reach
about
130
million
prior
to
covid,
I'm
heading
in
fiscal
year
20.
H
So
dr
white
will
be
documenting
much
of
his
presentation
earlier
into
a
chapter,
a
revenue
chapter
for
our
budget
book.
That
really
does
discuss
pretty
much
what
he
reviewed
with
us
in
20
minutes,
but
it'll
be
much
more
fleshed
out
for
your
review
ahead
of
the
april
budget
hearings
with
that,
madam
chair,
we'll
stand
for
any
questions
or
we
can
move
on
to
the
next
item.
H
G
H
Madam
chair
counselor,
we
do
anticipate
you're
receiving
the
budget
books
the
first
week
of
april,
and
we
can
provide
them
electronically
and
we
can.
This
is
an
expense
that
we've
saved.
I
know
there's
a
discussion
on
printing
earlier
and
not
printing
these
documents
in
the
past
two
years.
So,
if
you
would
like
them
to
be
printed,
we
can
take
those
requests
on
an
individual
basis.
If
you
can
just
email
me
if
you'd
like
a
hard
copy
of
the
book.
A
Okay,
matters
from
the
committee.
A
Matters
from
the
chair
I
just
counselor
rivera.
Did
you
have
something.
D
Yeah,
it
was
just
you
know,
I
guess,
depending
on
what
the
city
manager
recommends,
are
we
still
planning
on
budget
sessions
being
zoom
sessions,
or
are
we
planning
for
live
sessions.
A
I
don't
know
that
we've
had
that
conversation
yet,
but
I
do
have
the
same
question
so
we
should
circle
the
wagons
and
get
back.
D
Yeah
because
it'll
take
a
little
more
planning
if
we're
doing
them
live
than
if
we're
doing
them
zoom.
So
the
sooner
we
know
miss
mccoy,
the
better
for
me
anyway,.
A
Matters
from
the
chair,
besides
our
next
meeting
being
monday
april
4th
I
did
want
to
just
take
a
moment
and
director
mccoy.
I
didn't
tell
you.
I
was
going
to
do
this,
but
I
do
want
to
just
take
a
minute
and
thank
the
staff
in
your
department
for
putting
together
the
budget
adjustment
requests,
and
maybe
you
could
just
take
a
moment
to
call
out
those
people
who
were
involved
in
that,
and
I
I
just
want
to
take
a
moment
to
to
flag
that.
A
That's
a
lot
of
work
and
it
goes
on
behind
the
scenes,
and
I
don't
know
that
the
public
and
even
the
members
of
the
governing
body
recognize
what
you
all
put
into
that
and
it
was.
It
was
well
done
and
we
were
able
to
get
more
money
out
and
I
just
wondered
if
you'd
take
a
moment
to
recognize
the
people
who
are
involved
with
that.
H
Madam
chair,
I
would
be
happy
to
do
that.
Our
budget
team
did
work
simultaneously
on
these
fy
22
budgets,
as
well
as
their
work
that
they've
been
doing
on
the
fy
23
budget
in
preparation
for
the
recommendations
and
the
hearings
in
april.
H
So
it
really
was
an
additional
task
to
move
this
over
11
million
dollars
at
this
point
in
the
fiscal
year,
but
we
thought
it
was
especially
prudent,
given
what
we
expect
here,
where
we
expect
grt
to
land
and
the
fact
that
we
still
had
about
four
months
in
the
fiscal
year
left
where
we
could
mobilize
these
dollars,
as
dr
white
indicated
above
risk
or
before
we're
still
having
challenges
with
supply
chain
shortages
and
issues.
H
So
getting
the
money
out,
particularly
to
order
the
hybrid
police
vehicles,
for
example,
will
help
us
lower
our
fuel
costs,
with
fuel
prices
being
so
high
currently,
but
also
be
able
to
just
get
a
head
start
on
placing
those
orders
ahead
of
the
july
1st
fiscal
year.
So
we
really
appreciate
the
council.
We
have
joining
us
tonight,
a
few
members
of
that
team.
Our
budget
officer,
andy
hopkins,
is
joining
us
tonight
and
he
led
the
team
that
put
forward
that
effort,
as
did
alexis
lotero
who's
also
joining
us
tonight.
H
We
also
had
lawrence
lovato
assisting
us
with
this
budge,
with
this
massive
budget
adjustment
that
we
brought
through
and
then
on
the
revenue
side.
We
had
both
dr
white
and
bradley
flitch,
assisting
us
as
in
monitoring
all
of
the
different
months
grt
throughout
the
months
and
the
trends
so
we'd
feel
comfortable
at
this
point,
bringing
forward
that
sizable
level
of
gross
receipts-
and
this
is
again
all
this
detailed
work
is
going
on
simultaneously
out
of
cycle
and
going
on
simultaneous
to
the
really
detailed
work.
H
A
I
think
just
another
point
which
is
to
get
that
money
out
in
good
time
prior
to
the
end
of
the
fiscal
year
june,
30th
also
very
important,
and
so
the
timing
you
know
with
with
how
we
know
that
we
have
the
money
to
spend.
Then
all
the
work
that's
required
to
get
them
together,
then
move
it
through
our
process
which
takes,
I
don't
know
at
least
a
month
and
and
and
get
it
approved
so
that
the
departments
can
actually
move
on
it
and
get
that
money
out
the
door.
A
So
I
just
wanted
to
take
a
moment
to
flag
thanks
to
your
staff
and
your
team
and
also
to
the
council
for
for
slogging
through
and
and
approving
that
money.
So
thank
you.
I
don't
think
there's
anything
else,
so
we
will
see
you
all
at
the
next
stop
and
we
are
adjourned.