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Summary/Background: In following the abbreviated budget process for FY 2020-2021 due to COVID-19, this is the final budget approval for FY 2020-2021.
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Summary/Background: This budget adjustment request balances all line items and funds to end of year final revenues and expenditures amounts.
Summary/Background: This is a requirement from the State of New Mexico, Department of Finance and Administration that the fourth quarter financial report must be approved by the governing body of each entity.
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Over the next month, the planning process for the Infrastructure Capital Improvement Plan will be conducted. Manager Bellis and Lynda Perry will be meeting with the Management Team to discuss infrastructure needs, funding options and prioritization of those projects. The draft ICIP will be discussed at both Council meetings in August with a public hearing and final prioritization of projects by Council on September 11th. The final ICIP and all projects updated in the State database are due by September 18, 2020. Attached is last year's ICIP with projects redlined that are completed.
The plan provides a framework for decisions about community growth and development, covers a five year period and is developed and submitted annually. It includes funding time frames, estimated costs, justifications, and the details of each specific infrastructure capital improvement project proposed, by year, over the five year period. The plan includes repair or replacement of existing infrastructure and the development of new infrastructure.
Some general guidelines regarding the projects are: 1) Must have a life cycle of at least 10 years;
2) Repair or replacement of existing infrastructure and/or the development of new infrastructure; 3) Not part of the annual budget; and, 4) Project must be owned by the Town.
ICIP Publication - The complete ICIP Publication will be available before the 2021 Legislative Session. The ICIP Publication will include the project summary and the top 5 projects of all participating entities and will be available on the web at: http://nmdfa.state.nm.us/ICIP.aspx.
A notice announcing the ICIP publication is sent to the Governor of New Mexico, all Legislators, Legislative Finance Council, Legislative Council Service, and all participating entities.
Summary/Background: The Capital Improvements Plan is prepared as part of the budget process in determining the capital needs of the Town for the current fiscal year and requested by the Department Heads along with input from the Council and the Manager.
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