Finance update: audits, budget status; legislature awards and IT services RFP discussed

City finance staff updated the commission on audits, budget status and legislative funding, and staff described a planned procurement for IT services.

The finance presenter said the city had provided auditors significant documentation and was close to completing the FY2023 audit while starting outreach with the FY2024 auditor team. "We've got 25% remaining in the FY '25 budget that you approved. So we're, doing good," the presenter said when summarizing the budget report and expenses for March.

Staff reported several legislative funding items and outside approvals: the board of the New Mexico Finance Authority (NMFA) approved a $700,000 loan application for the city; staff also reported legislative reauthorizations and earmarks including $135,000 for the Princess Theater (rehabilitation/reauthorization), $350,000 for a sanitation truck, $70,000 for a cemetery building and $150,000 for the Princess Theater in separate items referenced in the transcript. Staff noted, consistent with state rules, those funds cannot be accessed until municipal audits are complete.

On IT services, staff described an RFP to procure IT services to replace the city’s current contractor and provide services including log monitoring and Microsoft security services. Staff said the procurement is designed to consolidate services under a single vendor rather than maintaining multiple vendors on the server. Separately, staff noted pool opening timelines and other operational items.

The transcript records staff updates and plans; formal awards or budget adjustments were not recorded in the provided excerpt.