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At a board meeting of the North Central Regional Transit District last week, a six-month financial report revealed that reduced Gross Receipts Tax from Los Alamos National Laboratory has impacted the NCRTD’s budget.
Los Alamos County’s share of GRT payments to NCRTD is largely determined by the lab’s GRT. Revenues from the county were significantly less than anticipated in both July and September. July revenues were down 71 percent ($124,560 actual instead of the projected $176,002). September revenues were $263,631, 78 percent of the projected $336,445.
NCRTD was also affected by LANL’s overpayment to Los Alamos County in FY2011. The transit system’s share of reimbursement is $65,391, putting October’s revenues 24 percent below the projection.
Losses from Los Alamos County are balanced in part by revenues from other counties in the system. Santa Fe and Taos Counties’ revenues were four to eight percent higher than expected.
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