ROSWELL NEW MEXICO
COMMITTEE AGENDA ITEM ABSTRACT
COMMITTEE AGENDA ITEM ABSTRACT
1.
Special Finance Committee
- Meeting Date:
- 05/21/2026
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Kurt Gass
ACTION REQUESTED:
Consideration and approval of Resolution 26-XX approving the Preliminary Budget for Fiscal Year 2026-2027 and authorizing submission to the New Mexico Department of Finance and Administration, Local Government Division. (Gomez)
BACKGROUND:
Initiated by: Toni Gomez
Pursuant to New Mexico budget statutes and budget preparation requirements of the New Mexico Department of Finance and Administration Local Government Division (DFA/LGD), municipalities are required to prepare and submit a Preliminary Budget for the upcoming fiscal year on or before June 1.
The Fiscal Year 2026-2027 Preliminary Budget has been prepared by staff in coordination with City departments and reflects the City's anticipated revenues, expenditures, operational needs, debt obligations, capital projects, and other financial requirements for the upcoming fiscal year.
Approval of the resolution authorizes submission of the Preliminary Budget to DFA/LGD for review and comment. Following DFA/LGD review and any necessary revisions, the Governing body will consider adopiton of the Final Budget prior to the July 31 statutory deadline.
Pursuant to New Mexico budget statutes and budget preparation requirements of the New Mexico Department of Finance and Administration Local Government Division (DFA/LGD), municipalities are required to prepare and submit a Preliminary Budget for the upcoming fiscal year on or before June 1.
The Fiscal Year 2026-2027 Preliminary Budget has been prepared by staff in coordination with City departments and reflects the City's anticipated revenues, expenditures, operational needs, debt obligations, capital projects, and other financial requirements for the upcoming fiscal year.
Approval of the resolution authorizes submission of the Preliminary Budget to DFA/LGD for review and comment. Following DFA/LGD review and any necessary revisions, the Governing body will consider adopiton of the Final Budget prior to the July 31 statutory deadline.
FINANCIAL CONSIDERATION:
The Preliminary Budget servers as the City's proposed operating and capital financial plan for Fiscal Year 2026-2027. Final appropriations and budget authority will be formally adopted through the Final Budget Resolution following DFA/LGD review.
LEGAL REVIEW:
Not applicable for this agenda item.
BOARD AND COMMITTEE ACTION:
The FY27 Proposed Budget was presented at the March 16, 2026, Infrastructure Committee, the March 17, 2026, Public Safety Committee, and the March 26, 2026, Legal Committee.
The Finance Committee tabled the FY27 Proposed Budget on April 2, 2026, and had a Special Finance Committee Meeting on April 27, 2026 to review the Proposed Budget.
At the May 7, 2026 Finance Committee Meeting the FY27 Proposed Budget was referred to the May 14, 2026 City Council meeting.
The City Council meeting referred the FY27 Proposed Budget back to the Finance Committee for a Special Finance and City Council Meeting on May 21, 2026.
The Finance Committee tabled the FY27 Proposed Budget on April 2, 2026, and had a Special Finance Committee Meeting on April 27, 2026 to review the Proposed Budget.
At the May 7, 2026 Finance Committee Meeting the FY27 Proposed Budget was referred to the May 14, 2026 City Council meeting.
The City Council meeting referred the FY27 Proposed Budget back to the Finance Committee for a Special Finance and City Council Meeting on May 21, 2026.
STAFF RECOMMENDATION:
Staff recommends approval of Resolution 26-XX approving the Preliminary Budget for Fiscal Year 2026-2027 and authorizing submission to the New Mexico Department of Finance and Administration, Local Government Division.