ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
Item No. 8.
Regular City Council Meeting
- Meeting Date:
- 08/14/2025
COMMITTEE:
Finance
CONTACT:
Toni Gomez
CHAIR:
Robert B. Corn
ACTION REQUESTED:
Approval of authorization for an expenditure of $416,434.00 for two new CDL buses from Creative Bus Sales/Model1. (Corn/Hicks)
BACKGROUND:
Initiated by: Becky Hicks.
The NMDOT has been saving insurance funds for the City of Roswell from wrecked buses. At this time, they are holding $114,837.33 in insurance funds that they are willing to apply to our 20% cost of the new buses. They have already agreed to pay the City portion of the FY2025 non-CDL bus order that was placed last year in the amount of $39,638.60. The balance remaining of the extra funds is $75,198.73. This year's City cost to order two new CDL buses is $83,286.80. After applying the $75,198.73 of funds NMDOT is holding, the overage cost is $8,088.07 which we will transfer from our Fuel account in our current FY2026 budget that was already approved by the Council.
The NMDOT has been saving insurance funds for the City of Roswell from wrecked buses. At this time, they are holding $114,837.33 in insurance funds that they are willing to apply to our 20% cost of the new buses. They have already agreed to pay the City portion of the FY2025 non-CDL bus order that was placed last year in the amount of $39,638.60. The balance remaining of the extra funds is $75,198.73. This year's City cost to order two new CDL buses is $83,286.80. After applying the $75,198.73 of funds NMDOT is holding, the overage cost is $8,088.07 which we will transfer from our Fuel account in our current FY2026 budget that was already approved by the Council.
FINANCIAL CONSIDERATION
The total City cost for these buses is $8,088.07, which can be funded by the approved budget for FY2026 Transit, as authorized by the City Council. A budget adjustment of $408,345.93 will be necessary, with $408,345.93 allocated to Revenue and $408,345.93 to Expense. This adjustment has been included in this month's request from the Finance Department.
Funding Source: An increase to revenue line 2610 443100 in the amount of $408,345.93 and an increase to expense line 26104511 817506 in the amount of $408,345.93.
Funding Source: An increase to revenue line 2610 443100 in the amount of $408,345.93 and an increase to expense line 26104511 817506 in the amount of $408,345.93.
LEGAL REVIEW:
No legal review is required at this time.
BOARD AND COMMITTEE ACTION:
The Finance Committee recommended approval 5-0 at its meeting on August 7, 2025.
STAFF RECOMMENDATION:
Proceed as presented.