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Colfax County approves budget adjustments as finance staff reports audits and cash increases
Summary
Commissioners approved budget adjustments including a $25,000 add to the opioid fund and a $20,203 allocation of sheriff auction proceeds; finance staff reported higher cash balances driven by grant reimbursements and outlined audit timing for FY24 and FY25.
Colfax County's commission approved several budget adjustments and heard a detailed financial update from county finance staff. The commission approved a request to increase the local government abatement opioid fund with an additional $25,000 for medical care and $3,000 for pharmacy inventory and approved allocating $20,203 from the sheriff's vehicle auction proceeds to vehicle maintenance, professional services and supplies.
Finance Director Justin told commissioners the FY24 audit exit conference has been completed and the external auditor forwarded financial statements to the Office of the State Auditor for its review; the FY25 audit work is pending the FY24 release. Justin said general fund budget remaining is about 46% at seven months through the year and highlighted that many items below a 40% remaining threshold were due to grant timing or one-time annual expenditures. He also reported an increase in cash balances from roughly $23.5 million to about $27.8 million, driven by advanced NMDOT and transportation grants, legislative appropriations and reimbursements for prior-year expenditures; he noted some temporary transfers that can be returned and one negative that should be corrected as grant funds arrive.
Why it matters: The adjustments and transfers affect departmental budgets and the county's near-term cash position. Commissioners discussed using opioid settlement funds for preventative programs but supported applying current amounts to cover existing expenses when no program was ready.
Details and next steps: Justin said grant reimbursements (including event-center closeout reimbursements) and drawdowns are being pursued in February; the commission asked staff to pursue quarterly drawdowns to show activity on grants. The approved budget adjustments were carried by roll call.
Vote record: The motions described in this meeting record passed on roll call with commissioners recorded as voting yes in each stated roll call.
