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Tuesday’s work session for the county council was planned to provide councilors with a crucial piece of the puzzle in determining how to plan projects in relation to fluctuating county revenues. The fact that there is only one major producer of revenue for the county, with Los Alamos National Laboratory responsible for 70 percent of the county’s income through gross receipts taxes, is “not typical,” said Chief Financial Officer Steven Lynne.In the agenda documentation for Tuesday’s meeting, Lynne said, “GRT makes up approximately two-thirds of all governmental revenues and it is expected to be the most variable revenue source representing the greatest risk. In FY 2007, it was estimated that approximately 70 percent of GRT revenues were directly attributable to one taxpayer. Today, those political processes are in a higher-than usual state of flux, so staff’s ability to project GRT revenues with the same level of historical precisions is now diminished.”Lynne also explained that the county has reserve funds designated with each of the scenarios.
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