ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
3.
Special Council Meeting
- Meeting Date:
- 07/23/2026
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Kurt Gass
ACTION REQUESTED:
Resolution 26-43 - Approval of Resolution 26-43: Approving the Final Quarter Financial Report for the Fiscal Year Ending June 30, 2026, and authorizing its submission to the New Mexico Department of Finance and Administration, Local Government Division. (Gass/Gomez)
BACKGROUND:
Initiated by: Toni Gomez
Section 6-6-2 NMSA 1978 authorizes the New Mexico Department of Finance and Administration, Local Government Division, to require periodic financial reports from local public bodies. DFA requires counties and municipalities to submit quarterly reports through the Local Government Budget Management System.
The Final Quarter Financial Report presents the City's unaudited financial activity for Fiscal Year 2025-2026 through June 30, 2026. The report includes year-to-date revenues, expenditures, transfers, investments, and cash balances by fund. Finance prepared the report using the City's accounting records and reconciled the reported activity to the applicable financial records.
The Final Quarter Financial Report and governing-body-approved resolution are required to be submitted to DFA by July 31, 2026.
Section 6-6-2 NMSA 1978 authorizes the New Mexico Department of Finance and Administration, Local Government Division, to require periodic financial reports from local public bodies. DFA requires counties and municipalities to submit quarterly reports through the Local Government Budget Management System.
The Final Quarter Financial Report presents the City's unaudited financial activity for Fiscal Year 2025-2026 through June 30, 2026. The report includes year-to-date revenues, expenditures, transfers, investments, and cash balances by fund. Finance prepared the report using the City's accounting records and reconciled the reported activity to the applicable financial records.
The Final Quarter Financial Report and governing-body-approved resolution are required to be submitted to DFA by July 31, 2026.
FINANCIAL CONSIDERATION
Approval of the Final Quarter Financial Report does not authorize additional expenditures or amend the City's budget. The report presents unaudited financial activity and cash balances through June 30, 2026.
LEGAL REVIEW:
Not applicable.
BOARD AND COMMITTEE ACTION:
The Final Quarter Financial Report has not previously been presented to a committee. The City Council is the first governing body to consider the report for approval.
STAFF RECOMMENDATION:
Proceed as presented.