LAS CRUCES, NM – The Las Cruces City Council received an update on the development of the proposed Fiscal Year 2024 budget, which will be focused on three Joint Powers Agreement (JPA) entities such as the Fire Department and Housing and Neighborhood Services.
The three JPA filings included Las Cruces/Dona Metro County Narcotics, Mesilla Valley Regional Dispatch Authority, and South Central Solid Waste Authority.
The City Council reported that the Council continues to develop a budget for the City’s fiscal year 2024, with another work session remaining to be held on April 24. In addition, there will be a public hearing on the proposed budget scheduled for May 4, and a resolution to adopt a budget on May 15.
The City’s economist, Monica Torres presented the City Council with an updated economic outlook. The presentation provided an overview of the most recent employment, unemployment and industry data on the local economy.
Employment in Las Cruces increased slightly from December 2021 to December 2022. However, the city’s labor force declined slightly, to 48,211, during the same period.
Las Cruces’ unemployment rate decreased by 1.5%, to 3.5%, from December 2021 to December 2022. In addition, total distributed gross receipts taxes increased 9.7 percent in 2022 compared to 2021, the City noted.
Looking ahead, with solid job gains and an unemployment rate that remains among the lowest in recent years, Las Cruces continues to experience a robust job market and gross receipts taxes continue to trend upward.