CITY of ALBUQUERQUE
TWENTY-FIFTH COUNCIL
COUNCIL BILL NO. C/S
R-23-123 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 2024, Beginning July 1, 2023 And Ending June 30, 2024; Adjusting Fiscal Year 2023 Appropriations; And Appropriating Capital Funds (Bassan)
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APPROPRIATING FUNDS FOR OPERATING THE GOVERNMENT OF THE CITY OF ALBUQUERQUE FOR FISCAL YEAR 2024, BEGINNING JULY 1, 2023 AND ENDING JUNE 30, 2024; ADJUSTING FISCAL YEAR 2023 APPROPRIATIONS; AND APPROPRIATING CAPITAL FUNDS.
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 2024 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 $68,888,000 is hereby reserved in the Operating Reserve Fund for the City of Albuquerque for Fiscal Year 2024. In addition, the amount of $500,000 is reserved for a potential runoff election. In the event that the runoff is necessary, $500,000 is hereby unreserved and a contingent appropriation is made to the Office of the City Clerk Program to pay for the expenses of the runoff election. In the event that the runoff election does not happen, $500,000 is hereby unreserved and will fall to fund balance; the amount of $6,450,000 is reserved for an additional 1.5% of a Cost of Living Adjustment to be di...
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