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South Central Regional Transit District approves budget amendment, adopts third-quarter financials
Summary
The South Central Regional Transit District approved a fiscal-year 2024–25 budget amendment and adopted third-quarter financial reports after presentations from finance staff; both measures passed on roll-call votes.
The South Central Regional Transit District voted to approve a budget amendment for fiscal year 2024–25 and adopted its third-quarter financial report after presentations by finance staff.
Adam Shea, finance officer for the district, presented the budget amendment and the quarter-end financials. Shea said the requested amendment increased expenditures by $23,250.95 and revised revenues upward by $89,172.91, producing a projected carryover of $208,121.17. He told the board the amendment included a $278,010.50 New Mexico match and reflected reclassifications and updated revenue recognition, and that a $60,000 commercial loan had been taken for the recent Sunland Park facility purchase.
The amendment passed on a…
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