Village of Corrales surprised by $4.7 million investment fund

New Mexico News

CORRALES, N.M. (KRQE) – What would you do if you became a multi-millionaire overnight?

That’s what happened to the tiny Village of Corrales after officials discovered they were sitting on a large pile of cash and they have no idea where it came from. Some locals have ideas on how to spend that mystery money.

The Village of Corrales, a population of about 8,500 people, nestled between Rio Rancho and Albuquerque. It is known for its small-town charm with family-owned restaurants, breweries, wineries and now, it seems the Village has found itself $4 million dollars richer.

“It’s a good problem to have on the other side of the ledger if we were looking for money that was missing,” said Ron Curry, Village of Corrales Administrator.

Curry said recently they discovered that Corrales has $4.7 million dollars tucked away in an investment account in Santa Fe which is about a year’s worth of their budget. They have no clue how it got there.

“That huge account is there but it’s been allocated in ways and we are trying to make sure we understand it correctly,” said Curry.

KRQE News 13 wanted to find out what $4.7 million dollars could buy in Corrales. At the local watering hole, Ex Novo Brewery, the money could buy each Village resident 92 beers.

It could also buy 35 small specialty pizzas for each person from Corrales’ hot spot Village Pizza. If Corrales ever wanted its own Balloon Fiesta, it would be enough to buy 188 hot air balloons.

“I think it could help everybody,” said local Susan Willis.

People KRQE News 13 spoke with said that money could also go towards things that help beautify Corrales like its parks and annual Harvest Festival. Some are open to more silly ideas, too.

KRQE News 13 asked local Pauline Barnes what if Corrales splurged on something like a giant popcorn machine and she said:

“Oh that would be really funny,” said Barnes. “Absolutely, that would be a lot of fun [or] a giant bubble making machine.”

Corrales officials said it is too soon to say how they would spend the money, they want to first figure out where it came from.

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