City's finance director says finances have improved
March 9, 2022
Modest spending helped give the City of Tucumcari a surplus during the first half of the 2022 fiscal year, the city’s finance director said during a special city commission meeting Thursday.
City commissioners approved two resolutions concerning a budget adjustment and budget report it submitted to the New Mexico Department of Finance and Administration after the completion of the second quarter of the fiscal year on Dec. 31.
City finance director Rachelle Arias said the city’s fund summary budget was about $155,000 at the beginning of the fiscal year and stood at about $952,000 at the end of the second quarter.
Arias noted most city departments were lower than 50% of budgeted spending levels at the halfway point.
As an example, the police department was at 41% of its budgeted spending level at the midpoint. Acting Police Chief Pete Rivera said the force was not at full capacity during that time.
City Manager Mark Martinez also attributed the city’s favorable financial position to “better management” of its departments.
Mayor Pro Tem Ralph Moya expressed concern about the municipal golf course running a deficit, but Arias and other officials indicated that is typical when fewer people play golf during winter. They anticipated revenue there will improve when warmer weather arrives.
Arias said after the meeting the city also received about $583,000 from the first payment of federal American Rescue Plan Act funds.
Last summer, the final budget for fiscal year 2022 projected a deficit of about $417,000 and assigned spending cuts to city departments.