ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
Item No. 10.
Regular City Council Meeting
- Meeting Date:
- 08/13/2026
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Kurt Gass
ACTION REQUESTED:
Resolution 26-48: Adoption of Resolution 26-48:Certification of correctness of the physical inventory of assets for FY2026. (Gass/Garcia)
BACKGROUND:
Initiated by Deanna Garcia
Pursuant to Subsection A of Section 12-6-10 NMSA, it is required that, at the conclusion of each fiscal year, local government entities conduct a physical inventory of their assets. The physical inventory of assets listed as Exhibit A must be reviewed and formally approved for accuracy by the City Council.
Pursuant to Subsection A of Section 12-6-10 NMSA, it is required that, at the conclusion of each fiscal year, local government entities conduct a physical inventory of their assets. The physical inventory of assets listed as Exhibit A must be reviewed and formally approved for accuracy by the City Council.
FINANCIAL CONSIDERATION
No financial consideration for this item.
LEGAL REVIEW:
The resolution was submitted to Legal for review. Resolutions must be adopted by a majority vote of the entire City Council.
BOARD AND COMMITTEE ACTION:
The Finance Committee recommended approval 4-0 at their meeting on August 10, 2026.
STAFF RECOMMENDATION:
Proceed as presented.
Attachments
- Resolution 26-48 - Certification of Correctness of Physical Inventory FY26
- Exhibit A Summary of Assets by Fund by Type