ROSWELL NEW MEXICO
COMMITTEE AGENDA ITEM ABSTRACT
COMMITTEE AGENDA ITEM ABSTRACT
9.
Finance Committee
- Meeting Date:
- 10/02/2025
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Robert B. Corn
ACTION REQUESTED:
Considering recommending the adoption of Resolution 25-XX approving a budget adjustment for the fiscal year ending June 30, 2026. (Gomez)
BACKGROUND:
Initiated by: Toni Gomez
The New Mexico Department of Finance Administration (DFA) requires approval of a budget adjustment when increasing revenues and/or expenses in the approved budget. The finance department is requesting a budget adjustment for line items in Exhibit "A". These adjustments are for various grants, transfers, and departments.
The New Mexico Department of Finance Administration (DFA) requires approval of a budget adjustment when increasing revenues and/or expenses in the approved budget. The finance department is requesting a budget adjustment for line items in Exhibit "A". These adjustments are for various grants, transfers, and departments.
FINANCIAL CONSIDERATION:
Various Funds: Revenue Expense $4,855,269.31 and Expense $2,786,722.15
LEGAL REVIEW:
No legal review is required at this time.
BOARD AND COMMITTEE ACTION:
Considering recommending the adoption of Resolution 25-XX approving a budget adjustment for the fiscal year ending June 30, 2026.
STAFF RECOMMENDATION:
Staff recommends approval of the budget adjustments as presented in Exhibit A. These adjustments reflect donations, grant awards, expenditure reclassifications, and operational needs across multiple departments. Approval ensures compliance with the New Mexico Municipal Budget Act, maintains accurate fund reporting, and authorizes expenditures in accordance with available resources and funding restrictions.