SANTA FE, N.M. (KRQE) – The City of Santa Fe has some extra revenue, and they’re considering putting some of the money towards a retention incentive for existing employees.
“When we adopted our current budget for this fiscal year, we said that if the economy stayed strong and we got unanticipated revenue, the first thing we’d do was to share it with our hardworking City employees,” Mayor Alan Webber said in a press release. “Promise made. Promise kept.”
Santa Fe says there are unanticipated gross receipts tax revenues this year. So, the city is proposing a budget adjustment resolution to use the cash for $1,000 retention payments. For the idea to move forward, it needs approval through a vote by the governing body on November 8.
If approved, the measure would offer $1,000 to all city employees who agree to keep working with the city though June 2024, the city says. Unionized employees will be subject to a bargaining agreement.
The city has already offered raises for all employees over the last few fiscal years. The city also offered retention bonuses during the last two fiscal years.