ROSWELL NEW MEXICO
COMMITTEE AGENDA ITEM ABSTRACT
COMMITTEE AGENDA ITEM ABSTRACT
Regular Items 27.
Finance Committee - NEW
- Meeting Date:
- 02/06/2025
COMMITTEE:
Finance
CONTACT:
Elizabeth Nulf
CHAIR:
Robert B. Corn
ACTION REQUESTED:
Resolution 24-XX - Consider recommending adoption of Resolution 24-XX-Instructing General Fund Departments to Maintain a 2% Savings. (Corn/Cavin)
BACKGROUND:
Initiated by Chairman Robert Corn:
The City of Roswell has suffered significant losses due to catastrophic flooding, and the City of Roswell, due to previously acquired debt is in a significantly cash poor position; so the City of Roswell, needs all available liquid funds to make essential repairs to destroyed municipal property caused by flooding. All departments utilizing monies from Fund 1101 shall maintain a 2% savings of their FY25 appropriations.
The City of Roswell has suffered significant losses due to catastrophic flooding, and the City of Roswell, due to previously acquired debt is in a significantly cash poor position; so the City of Roswell, needs all available liquid funds to make essential repairs to destroyed municipal property caused by flooding. All departments utilizing monies from Fund 1101 shall maintain a 2% savings of their FY25 appropriations.
FINANCIAL CONSIDERATION:
- All departments utilizing monies from Fund 1101 shall maintain a 2% savings of their FY25 appropriations.
LEGAL REVIEW:
No Legal Review Required at this time.
BOARD AND COMMITTEE ACTION:
Finance Committee will be the first to hear this item.