CITY of ALBUQUERQUE
TWENTY-FIFTH COUNCIL
COUNCIL BILL NO. C/S
R-22-24 ENACTMENT NO. ________________________
SPONSORED BY: Brook Bassan
RESOLUTION
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C/S Appropriating Funds For Operating The Government Of The City Of Albuquerque For Fiscal Year 2023, Beginning July 1, 2022 And Ending June 30, 2023; Adjusting Fiscal Year 2022 Appropriations; And Appropriating Capital Funds (Bassan)
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WHEREAS, the Charter of the City of Albuquerque requires the Mayor to formulate the annual operating budget for the City of Albuquerque; and
WHEREAS, the Charter of the City of Albuquerque requires the Council to approve or amend and approve the Mayor's budget; and
WHEREAS, the governing body of the City of Albuquerque, State of New Mexico has developed a budget for Fiscal Year 2023 and respectfully requests approval from the State of New Mexico, Local Government Division of the Department of Finance and Administration; and
WHEREAS, appropriations for the operation of the City government must be approved by the Council.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
Section 1. That the amount of $71,355,000 is hereby reserved in the Operating Reserve Fund for the City of Albuquerque for Fiscal Year 2023. In addition, the amount of $2,000,000 is reserved for the payment of fuel and in the event that fuel costs escalate above budgeted levels or for the purchase of a fuel option to secure fuel costs at budgeted levels, the amount is hereby unreserved and is appropriated in the applicable departments; the amount of $12,000,000 is reserved for an EDA Downtown Valley Project and upon award of the associated EDA grant the amount is hereby unreserved and appropriated in City Support Department for a General Fund transfer to Operating Grants Fund for the Economic Development Department; and $4,000,000 is reserved for GRT Bond Debt Service and upon issuance of new GRT Bond debt the aforementioned amount is unreserved and...
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